What is Price Drop Email?

Price drop email is a digital marketing strategy that has its roots in the e-commerce revolution.

It became increasingly relevant during the age of personalized email marketing, in which businesses started leveraging techniques to improve customer relationships and, in turn, conversion rates. As the name suggests, a price drop email is essentially a notification sent out to potential customers, informing them that an item they've shown interest in online but didn't purchase has now decreased in price.

The intention behind a price drop email is conversion - making those who have shown interest, buy. Sometimes, individuals might check out a product online, but decide not to buy it due to its price or their current financial situation. With a price drop email, businesses savvy to this customer behavior can reignite their interest by reaching out to inform them that the item is now more affordable. This can prompt these potential buyers to reevaluate their decision and, consequently, drive up the company's sales.

Examples of Price Drop Email

1. An online clothing retailer could use price drop emails to re-engage shoppers who left items in their online cart but never completed the purchase. The email would inform them that the price for the item they left behind has now been reduced.

2. A travel booking website could send a price drop email to a user who searched for a specific flight or hotel but didn't make a booking. The email would notify them that the prices for the desired flight or hotel have dropped.

3. An online bookstore could use price drop emails to reach out to customers who viewed a particular book but didn't buy it. They would let them know that the book is now available at a lower price.

4. A music streaming service could use price drop emails to attract users who tried their service during a free trial but didn't subscribe. They could offer a discounted subscription price to these users.

5. An electronics retailer could send price drop emails to customers who have viewed a specific gadget but did not make a purchase. The email would provide an update about the gadget now being available at a reduced price.

Marketing Tactics Similar to Price Drop Email

• Retargeting Ads: These are ads targeted at users based on their previous internet actions. If a user leaves an ecommerce site without making a purchase, retargeting ads can be used to draw the customer back to the site.

• Abandoned Cart Email: This is an email sent to customers who have added items to their online shopping cart but then abandoned it before completing the purchase. The intention is to remind and offer them incentives to complete their purchase.

• Up-Selling or Cross-Selling Emails: These emails are used to introduce customers to higher-priced items or related products they might be interested in, therefore increasing the value of their purchase.

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