There are two models of marketing approach that businesses commonly use to make their product or service known to the public, namely: direct and indirect marketing. Indirect marketing consists of SEO optimisation, content marketing, PR, social media, referrals, and so on. Meanwhile, direct marketing involves email, SMS, experimental, and direct mail marketing. In this article, we will discuss one of the oldest but effective methods of marketing: email marketing.
What is email marketing?
Email marketing is a set of procedures that a marketer identifies and follows to achieve desired marketing goals with email advertising. Effective email marketing might convert prospects into customers, and turn one-time buyers into loyal, raving fans.
Why should you consider email marketing?
The word ‘email’ might sound old in the age of social media. While millennials and influencers spend an average of 2 hours 34 minutes each day entertaining themselves on social media, emails remain the most effective way to nurture leads and boost customer loyalty.
Email remains the #1 communication channel with 99 percent of consumers checks their email on a daily basis. Emails also convert better than any other marketing efforts such as social media.
Statistics showed that consumers spend 138 percent more buying products marketed through email than those who do not receive email offers. Email marketing also has an ROI of 4400 percent – and the average order value of an email is three times higher than that of social media. A fantastic statistic to better leverage your email marketing strategy.
What’s better is that for every $1 spent on email marketing, you can reap at least $40. However, you should also note that weak marketing strategies are bound to fail, thus do not deliver ROI as expected, whereas a well-planned strategy will always get you to reach your goals.
What is essential in email marketing?
1. Executable business plan
With email marketing, you can send time-based promotions and non-promotional emails. Time-based promotions are emails containing time-sensitive messages which prompt recipients to take actions, such as purchasing products, trying new services, or registering for online classes. This promotional marketing should be planned wisely, with at least three steps: announcement (preferably a week before), reminder (preferably one week before d-day), and last chance (1 or 2 days before the event).
Non-promotional email is less timely and less sales-driven. This email aims to gauge customers and establish loyal relationships between both. Thus, you can send more personalised messages that aid in nurturing and strengthening relationships with prospects and customers.
2. Have email marketing goals
Email fulfils some purposes: increase customer engagement, raise loyalty, maximise ROI, and maintain relationships with clients. While having one or some of these goals, you should also get to know your customers better to generate desired ROI. Who are the main subscribers of your email marketing? Are they young people, baby boomers, office workers, or working moms? You should know this in order to set the right tone in your campaigns later.
3. Use email marketing tools
You need an Email Service Provider (ESP) with an automation tool, among other useful features. Here are some of our picks:
- Constant Contact – suitable for small business and startups, has a 60-day free trial then $20/month.
- SendinBlue – offers a free mail marketing plan that lets you send up to 300 emails per day and paid plans start from $25/month for Lite.
- Drip – offers a free trial and their plans start from $49/month.
- GetResponse – offers a 30-day free trial and their pricing starts at $15/month.
- Mailchimp – offers a forever free plan which allows you to send 12,000 emails for up to 2,000 subscribers. Their paid plans start from $10/month.
- SendPulse – has a free version and offers a free trial. Their paid version starts at $9.85/month.
4. Use segments to get better reach
Segmenting is an effective tactic that allows you to send highly targeted email campaigns. But you have to get the right ESP for this because not all ESP allows you to segment your email campaigns. You can segment mailing lists based on location, gender, occupation, age, and behaviours. The more targeted your campaigns are, the better return on investment you will receive.
5. Get rid of spamming
To ensure that subscribers read your emails, find the best time for sending emails. A/B testing can help know which date and time are suitable for your target audience. Meanwhile, research found that the best day to send emails in order to get the highest open rate is on Tuesday (21.26 percent), followed by Monday (21.22 percent), Friday (21.10 percent), Wednesday (21.00 percent), Thursday (20.90 percent), Sunday (17.90 percent), and Saturday (17.50 percent).
Subscribers are most likely to read your email at either 10 am, after they arrive at work, or at 1 pm, when they are catching up on their emails after lunch. After 24 hours, an email’s chance of being opened drops below 1 percent.
As for promotional email, you can send out event-oriented emails 3-5 days prior to an event because 23 percent of emails are opened within 60 minutes after being sent. But there are some lingerers who might not check out email until a day or two later.
6. Monitor and optimise
This would be the last strategy but should be done continuously. Adjust your email strategy based on report and feedback that you have gatherers in developing email marketing. Know the bounce rate, unsubscribe rate, unsend email, send an email, etc. to identify problems.
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