You’re leaving a gold mine unattended if you think email marketing is dead. Email marketing is stronger than ever in 2020 and projected to be worth well over $20 billion dollars by 2024.
The email market place just might be the best place to seek out growth for your business.
But how come Email remains one of the most effective strategies for business growth amidst the numerous social media platforms and search engines (even now with talks about AI)?
Well the fact is email is more popular and has far more engagement that all the other platforms available. People actually take it seriously.
According to Forrester research 90% of email gets delivered to the intended recipient’s inbox, whereas only 2% of your Facebook fans see your posts in their news feed.
Other stats also state that email beats search engines by 15% and social media by 22%.
Building a successful email marketing campaign is more important than ever for entrepreneurs and business owners and most people don’t even know how to do it correctly.
To do it correctly is to FIRST recognize that people are continuously getting pitches and advertisements everywhere they turn their heads.
The best approach is knowing you’re probably a stranger in the inboxes of your “leads” and act accordingly. Give all the due respects and observe curtsey. Then build strong relationships from there on.
BEGINNING YOUR EMAIL MARKETING CAMPAIGN.
Ask for their email addresses.
This is as important as water to fish. You can’t start a successful email campaign without a list of people BUT you need them to willingly give you their email address (else you lose). So focus first on building a sizable email list then proceed.
To build a sizable list you should consider giving an incentive (a reason for people to give you their personal information). Nothing always goes for nothing.
Establish credibility, explain what the emails are for, and get people interested in receiving them.
Such incentives may include:
- Email series
- Free downloads
- Free white paper or eBooks
- Update lists, like new releases and product updates
Whatever incentive you decide on, you want to make it clear and enticing (and don’t be afraid to promote it.)
IF YOU’VE ASKED PROCEED TO:
Deliver the best content you can possibly offer! Content is king and there is no substitute.
Email marketing is all about setting expectations and meeting them. The good news is it’s up to you to set the expectations.
If you promise daily emails, then deliver daily emails. Otherwise you lose. Delivering on your promise is crucial to building a trustworthy relationship with customers.
With a strong call to action and a consistent follow up, a positive campaign is not far from reach.
This is why the first follow up email is so crucial to the success of your email marketing efforts.
Almost all email service providers give you the option to create an auto responder sequence, and it’s imperative that you take advantage of it.
The initial follow-up email should be sent immediately as a way to introduce yourself and detail what you plan on doing with your subscribers email address.
From here on in, it’s simply a matter of delivering valuable content as you’ve promised.
THE RIGHT TIME TO PITCH.
You’re probably not running a campaign because you like thought of running campaigns, you’re probably interested in making money off your engaged customers.
It is crucial however to make the pitch as relevant to your customers as you possibly can (else stand the risk of losing).
To do it right you must think in advance about your pitching and transition smoothly from value delivery to value selling (don’t pop out of nowhere to pitch—it won’t work).
Your campaign would be a whole lot more successful with 80% value and 20% pitching. That way your customers won’t feel you selling to them and will beg you to take their money.
If you’re going to get in the habit of selling often, try to put yourself in the reader’s shoes.
Ask yourself if your messaging is consistent with the expectations you’ve set. If possible understand what the customer has shown interest in before, and send similar offer down the line.
The more considerate your offer is the more likely you are to make sales. Send self-absorbed offers and find your emails among the deleted lot (even losing the customer completely).
There’s no one way to go about pitching to your customers as each business has different needs. Learn what your customers’ needs are and watch your business soar higher as you understand them more and more.
ANALYTICS AND SEGMENTATION:
Now that you know what it takes to get an email campaign started, let’s take it one step further.
One step further is using segmentation and analytics to refine your broadcasts and generate even better results.
UNDERSTANDING EMAIL ANALYTICS…
The 3 most important to me are open rate, click through rate and unsubscribes. Let’s break down each one and see what there is to learn from it.
First your open rates explains how many people open your emails. It’s based on a single invisible tracking pixel that loads when someone clicks on your message.
- If your open rate is low, it usually means that you have a lot of unengaged subscribers and you should work on building a relationship that provides value and meets their expectations.
Next, your click through rate, or CTR, shows how many people clicked on a link (if any) in your email.
- A low CTR (click through rate) is low means that your message is either not targeted enough, or simply not getting through. In this case, focus on improving your copy.
Finally your unsubscribe rate tell you how many people have clicked the “unsubscribe” button at the bottom of your email.
- If your unsubscribe rate is high in relation to your opt-in rate, then you have passed the point of building value and writing good copy…you’ve got some serious work to do.
Essentially you’ve built a sieve and people that sign up eventually leave. If this is you, try to examine when people are leaving and take action based on those leaks.
If they’re leaving after a certain auto-responder email, then rework it. If they’re leaving after marketing messages, then rework the way you present offers.
If they’re leaving early on in your funnel, then you need to fix your original call to action so that it’s in harmony with what you’re sending.
Email analytics can be really helpful as they give specific clues as to what could be wrong (and provide a basis for your next action).
The most important element when it comes to making judgments based on analytics is paying attention. Observe!
HOW TO SEGMENT YOUR LIST:
The term segmentation is the practice of spitting up your email into more targeted groups.
For example, the following are the ways to segment a larger, more unified list:
- Customer list (in comparison to leads who haven’t bought)
- Newsletter subscribers
- Daily email list (in comparison to weekly, bi-weekly, monthly, etc.)
In dividing your list as such you gain the power to send more targeted communication (relevant pieces of information)
You get to take those who are interested in product and sales updates apart from those who are only interested in hearing about news.
Plus you can even send specific emails thanking buyers for their purchase.
With segmentations you can send a broadcast only to those that didn’t open your last message (ask them why), or to that showed interest (a second pitch).
CLOSING TIP: With an attentive list, only your messaging can ruin your chances.
The success of any campaign lies in the relationship you’ve built with your customers. Poor relations too often mean no sales.
Email marketing is not dead so don’t hesitate to try it out. Build a list, create value—reap value.