Email Marketing Strategy
Let’s talk about how you can use email marketing to increase revenue for your business.”
The first point that we have to address is whether email marketing is dying. The simple answer is no.
According to a report by Radicarti, there were 269 billion emails sent every day in 2017 and that number will increase to increase to 320 billion daily emails in 2021. So the trend is up not down.
Here are some email marketing stats from Wordstream:
B2B Email Marketing Statistics
1. Email is the third most influential source of information for B2B audiences, behind only colleague recommendations and industry-specific thought leaders.
2. 86% of business professionals prefer to use email when communicating for business purposes.
3. Click Through Rates (CTR) are 47% higher for B2B email campaigns than B2C email campaigns.
4. 59% of B2B marketers say email is their most effective channel in terms of revenue generation.
5. Tuesday is the best day of the week to send email (according to 10 email marketing studies).
B2C Email Marketing Statistics
1. Consumers who purchase products through email spend 138% more than those that don’t receive email offers.
2. Welcome emails are incredibly effective: on average, 320% more revenue is attributed to them on a per email basis than other promotional emails.
3. Email subscribers are 3x more likely to share content on social media than leads who came through another channel, according to QuickSprout.
4. 80% of retail professionals indicate that email marketing is their greatest driver of customer retention (the next closest channel? Social media, identified by just 44% of those same professionals).
5. 77% of people prefer to get permission-based promotional messages via email (versus direct mail, text, phone, or social media).
So let’s talk about how to get the best results
This doesn’t mean sending an individual email to each individual subscriber. It does mean that you should use some customer data to create a personalized message.
Some of the major e-commerce companies like Amazon do this very well. The email is addressed to you by name and the content in the email usually relates to something that you came across on the Amazon website. It’s not a generic email.
You know this works because when we receive these emails we are more likely to open them and read them. In the meantime there’s research from Experian indicating that personalized emails can increase transaction rates by is much is six times.
There’s still a lot of organizations that are not personalizing their emails so this leaves an opportunity for you to standout. This is particularly important if you’re just getting started because some small touches like this will help you to improve your credibility in the eyes of people that have no history with you or your brand.
The simplest form of personalization is using the readers name. This can increase open rates by 16%.
In the meantime 47% of the emails are opened are opened because of the subject line so you will get even better results if you can personalize the subject line. You may not be able to personalize it on individual level but you can make sure that the subject line includes words that are relevant to something that the reader signed up for viewed on your website.
Segment Your Subscribers
If you offer multiple products or services it’s important to set up a separate email opt in form for each of them so that you can assign the emails you capture to different lists in your email marketing software. This automates the process of segmenting your subscribers based on the product or service they were interested in.
If you don’t segment your subscribers this way then you won’t know which product or service they’re most interested in and you will have no choice but to send the same emails to everyone. You will get much higher click through rates if you send more specialized emails to subscribers based on the product or service they were actually interested in.
Think about other ways that you can segment your email list. It can also be done by location, industry, stage in the sales cycle or anything else that will help you to create a more relevant emails.
In some cases your customers might belong to more than one segment. Some email software tools include a feature that allows you to tag your customers. You can use this feature to assign your subscribers to multiple segments.
Mobile Friendly E-Mail
More than 50% of the emails are opened on a mobile device. So what do you need to do?
Make sure that you use responsive email design. That just means that the email will adjust correctly regardless off the screen size. If you use a reputable email service provider this should be taken care of for you. But, as always, you need to check it yourself by sending a test email to yourself.
Keep the subject line short. You know that the content of the subject line is extremely important so, first and foremost you need to make sure that the complete subject line fits into the space that your reader will see on a mobile device. If there’s an important keyword that you think will attract readers attention make sure you include it toward the beginning of the subject line.
Make the call to action big and obvious. Text links can work very well on the big screen but they don’t look very compelling on a mobile device. Consider including a contextual text link at the beginning and at the end and also include very obvious ‘call to action’ buttons.
If your email list is big enough consider following a strategy like this:
Let’s say you have 5000 people on your email list. Create two versions of your email so that you can split test them. Send one email to 1,000 people and the other email to another 1,000 people. Figure out which email works best and send that one to the remaining 3000 people. Then wait for a few days and send a follow-up email (the same email) to everybody with the subject line ‘In case you missed it’.
When you’re testing an email, pay attention to the subject line, the use of images, the from address, plain text versus HTML, and long form content versus short emails. These are the factors that usually impact the results of the most.
Automate Where Possible
The most common form of automated email is the Welcome email or the Thank You email. These emails are also known as trigger emails and they tend to have a very high open rate.
The reason is obvious. The reader has just done something on your website and now they’re expecting to receive a confirmation email. In many cases they will actually be looking for it and they might be concerned if they don’t get it.
According to Epsilon, the open rate in these emails is almost double the usual open rate. And the click through rate is also almost double the usual click through rate. Also Forrester’s research indicates that these emails generated four times more revenue and 18 times more profits.
The obvious conclusion to draw from this is that your trigger emails should not suck. If you know that you’re going to have a lot of eyeballs on these emails you need to make sure that you put your best foot forward.
Think very carefully about everything that you’re customer might want in these emails. Are they expecting confirmation of something? Are they expecting to be told what to do next? Are they expecting recommendations?
You’ve got their attention, so make sure that they get everything they’re expecting and feel free to offer additional information about your products and services that you think that they will be interested in.
Founder of 'I Imagine'
> $100 Million raised for his businesses
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Founder of World Reconciliation Day with Nelson Mandela