15 Mar What is Email Marketing- Giving your profits a boost with E-mail
As a business, you should consistently seek ways to gain the vantage position. Ways to get more customers, to beat competitors and to be more efficient. The dawn of the internet age has made buyers the rules the center of marketing.
With the rise of the internet in the early nineties, most people’s first foray into it was through the use of E-mails. Even here in Nigeria, having an email address in the 90’s and early 2000’s made you cool and opened you up to what previously seemed impossible. Keeping up with family and friends abroad was made easier. Businesses also gained immensely. No longer would they wait for long periods of time just to send out information.
With the global recognition and acceptance that the Internet received, it gave rise to marketing opportunities and advertising. At that point, people would see ads but the burning question was how would a company get a hold of these people?
how could they move them along the conversion process?
It was thoughts along these lines that made businesses really see the gold mines that customer emails were. At the beginning, people checking their e-mails were very enthusiastic and happy to do it, so reading offers from companies and mails that would be considered spam now didn’t really irk people. As you read on through, we will explain what E-mail Marketing is, why it works and how it can be used effectively in boosting your sales and profits.
What is Email Marketing?
Email marketing is the process of communicating via electronic mail. This communication can be tailored for the purpose of acquiring new customers or convincing current customers to purchase a product, service. Your e-mail marketing should help build customer loyalty, trust in your product/company or increase brand recognition.
Although it initially started via print, it has been widely adopted into email communications. Newsletters inform your customers on new happenings and insights. It is also a great way to communicate with your customers on a specific interest of theirs. Ideally your brand’s newsletter must provide value, it should contain information that educates, informs or delights.
These are e-mails that provide summaries of a time period. They can include summaries and links to recent content you have created across various platforms in a time frame of say two weeks or more
3. Dedicated Emails
A dedicated email is generally a commercial message promoting a product or service. These mails are specifically designed to contain information about one offer only. If you’re looking to promote a range of related products, or you want to reach out and keep your customers engaged, feel free to use this.
4. Lead Nurturing
Lead nurturing involves a careful process that if done right can deliver a huge ROI for your brand at the fastest possible time. You simply need to nurture them with valuable content whilst paying attention to what stage they are in the buyer’s journey. This single act will draw them closer to your brand, as they have experienced great nurturing from you; you have shown them you care.
There are certain processes and stages (lead generation funnel) critical for you to successfully move contacts gathered through your marketing efforts and turning them into paying customers. Using e-mail marketing, your lead nurturing should provide further value and information about your brand to the customer. Ensuring you use a well detailed email marketing software/service is key.
5. Sponsorship Emails
If the goal is to gain new leads from a different audience, you can opt in for sponsorship emails. It is basically a process of paying for a space in another vendor’s newsletters. This type of email marketing allows for specific targeting – as listed by the vendor. To be successful in this, you must evaluate the vendor and make sure you trust them. Ask for detailed breakdown of the audience demographics, behaviour and any further insights the vendor can provide to show they’re credible enough.
6. Transactional Emails
These are the emails expected by customers in order to complete a transaction, they are sent to individuals rather than a large list of recipients and is usually triggered by a prior action. Transactional emails include welcome emails that contain a link to complete sign up on your website, or maybe a receipt of a transaction/purchase. Password reset, account balance updates, cart abandonment are also examples of transactional emails.
WHY YOU SHOULD DO EMAIL MARKETING
Email marketing is CHEAP, there are no two ways about it. Whether you do it yourself, or through an email marketing agency, marketing to hundreds of consumers via email is cheap compared to other channels of advertising. Think about it, would you rather spend large amounts of money or a large television or radio campaign, or would you rather spend cheaper and have direct access to a large pool of people. Now we know what you are saying, it’s cheap so it won’t be effective. However that is far from the truth, Email Marketing has been found to be one of the most effective forms of marketing. According to the Direct Marketing Association, 66% of consumers have made a purchase as a result of an email they received from a brand, beating out social and direct mail.
Emails can be targeted specifically to the ideal consumer. Through personalisation, you can send tailor made messages to already pre-determined customers at different stages of the buyers’ journey. For example, you can divide databases into segments by customer lifecycle stage. An E-commerce store can divide emails into one time, repeat, loyal, at risk and dormant customers. In such a situation, the at-risk customers can get email updates and a 15% discount to finally bring them back into active lists. Only E-mail marketing offers such an opportunity.
3.Measurability and Flexibility
With the analytics available today it’s easy to track responses to your emails exactly, in order to work out what parts of your campaign are working and what parts aren’t. With this knowledge, you can then react instantly to modify your campaign strategy if need be. Using split A/B testing can reveal the subtle differences that make one email broadcast more successful than another.
HOW TO DO EMAIL MARKETING RIGHT
Now that you know why you should incorporate email marketing into your company’s marketing efforts, the most important thing to know how to do it, what e-mails do you send out?
1.Give subscribers valuable content
Your content should answer a question, proffer solution to a problem, contain vital and entertaining content. The more they get great stuff from you, the more they will rely on you. You can re-purpose blog posts, freebies such as e-books, video tutorials or checklists into email marketing
2.Target e-mails to segmented audiences
As previously highlighted in the “why” of email marketing, dividing your audience according to what stage they are on the customer journey and also on other factors allows a more precise method of sending messages.
Don’t be afraid to use customer names in your emails, research shows that personalisation increases response rates and boosts engagements. Use first names only, full names can be seen as too close for comfort.
4. Make your Subjects attractive
Within the first three seconds of a customer opening their email, they will already know what they will or won’t open. Having a catchy subject line makes it more attractive. Be simple and straightforward, still make sure to be clever and let your personality shine.
5. Get straight to the point
With the short attention spans these days, it would be best to make the purpose of your message understandable in 3-5 seconds. Make your offer compelling and focus on a clear call-to-action. Use short sentences and simple language.
6. Timing is everything
The ideal time to send can vary on your audience, the product and location. If your audience are the business type that checks their emails first thing in the morning, you might want to wait till later in the evening, when they would have answered mails of higher priority. Also never send emails just for the sake of it, only send when you have something great to offer. Don’t send too often or be too aggressive.
7. Call-To-Action is King
Sure they’ve read your e-mail, but what good is that if it doesn’t get them to act. That’s where C-T-A’s come in. Tell users what they need to do, why they should do it and how they should do it. Provide clear, visible links throughout the e-mail to make it easy for users to take action. You can design C-T-A Buttons that are attractive and beckon your audience to click.
8. Great Design
Attractive looking mails are more likely to get users to act, it’s just human nature. Mobile responsive design, appropriate colour, text size, efficient use of white space, using your company logo and design effectively can make your email more likely to get clicked.
9. Landing Page
When customers click on your call to action and gets your landing page, make sure the page is effective with great design and the messaging is related to what the CTA promised. This time, with more detail.
10. Avoid Mistakes
Never use ALL CAPS, never use font sizes or colours that make it hard to read or too large for mobile. The footer of your e-mails should contain your company’s contact address and telephone. Don’t forget to add a valid unsubscribe link.
METRICS THAT MATTER IN EMAIL MARKETING
The percentage (%) of total emails you have sent that could not be delivered to the recipient’s inbox
The percentage (%) of e-mails actually delivered. It sets the stage for success or failure. If one campaign has lower than average delivery rate, examine subject line and content.
List growth rate
A measurement of how fast your email list is growing. Be careful though; don’t be in a hurry thereby resulting to practices like buying unsolicited e-mail lists.
4. Click through rate
Percentage of list members who clicked on one or more links in your email message.
5. Email Sharing
The percentage (%) of recipients that clicked on a “share this” button to post email content.
The percentage (%) that clicked on a link and completed a desired action such as filling out a lead generation form or making a purchase.
Judging by the ROI, efficiency of deliverability and adoption by billions of people. E-mail marketing will remain a force to be reckoned with, in promotional terms and remain a way businesses will continue use in relating to customers, for now and the foreseeable future.
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