Hasn’t social media taken over from email marketing?
No, far from it. Social media was meant to kill off email marketing, but that’s not happened. In fact, email is almost 40 times more effective than Facebook and Twitter put together in acquiring new customers, according to McKinsey & Co, the global management consultancy. That means email campaigns should be an integral component of your ongoing marketing. Other surveys also placed email ahead of SEO and content marketing among marketers when it came to delivering the best ROI, with every dollar spent on email marketing generating $38!
Why does email marketing work so well?
Because it lets you stay in touch with potential customers long-term. Only about 20% of people are ready to buy when they first make contact with you, so staying on their radar is important.
Can you use email to market to existing customers?
Yes. It makes sense to keep selling to someone who has already shown that they want your product, and email is a great way to turn a one-off sale into a stream of purchases that maximize a customer’s lifetime value to your business. Data from research firm MarketingSherpa also shows that more than 90% of those who get promotional emails from companies they do business with say they are happy to receive them.
What’s the difference between email marketing and spam?
Spam is generally low quality email sent out in bulk to people who haven’t asked for it. Email marketing on the other hand is about sending emails containing relevant information to targeted individuals who are also given the chance to opt out of receiving any more. That’s why getting people to give you their address is so important, as you then have permission to email them.
How do you get people’s email addresses?
People are much more likely to give you their email address if you demonstrate your value to them. That means making sure your website is information-rich and that any content you send out is relevant and interesting to recipients. You should also try to generate as many links as possible going back to your website where people can sign up to receive emails from you.
It’s also important to keep finding ways to add new addresses to your email list, as you can expect it to degrade by nearly 25% each year as contacts move, change emails or opt out. That means in four years’ time your current list will be pretty much useless.
How do you manage an email list?
An email marketing service like Mailchimp or Constant Contact will help you manage your list and marketing campaigns, so that you send out the right emails to the right people at the right time. Leveraging the power of marketing automation in this way not only means you become much more effective at promoting your business, but it enables you to target your marketing even more effectively through techniques such as ‘split testing’.
What’s split testing?
It’s when you divide your email list into different groups, then send each group a slightly different email. This allows you to monitor and analyze the market response to various price offers, for example, to see which works best. Being able to do this is one of email marketing’s great benefits. Imagine the cost and effort of trying to do this with printed materials!
How can I make best use of email marketing?
Whether you are an established business or an ambitious start-up, to maximize the power of email marketing you need to make it part of a cohesive online marketing strategy, for instance by combining it with other components such as CRM software.
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Email Marketing – Glossary
Email campaign – one or more emails designed to generate new leads.
CTR (Click-Through Rate) – the percentage of recipients who click on a link in one of your emails.
Conversion rate – the percentage of those who receive your email and respond to a call to action that’s in it.
Call to action – an instruction to a reader of your email (or website) to do something now.
Landing page – a website page specifically designed to capture visitors’ emails and other information.
List segmentation – dividing your email list into different target audiences you can market to in different ways.
Open rate – the percentage of emails you send out that are opened.
Opt-in – giving someone permission to send you emails by allowing your name to be put on their email list.
Opt-out – asking to be removed from an email list you are on.
Personalization – adding personal information, like a name or past purchases, to the emails you send out as part of your campaign.