According to Campaign Monitor, the email campaign management tool, email marketing provides an ROI of $38 for every $1 spent.
And email is 40 times more effective at acquiring new customers than Facebook or Twitter. So, the answer to the question should my business be using email marketing is a resounding yes.
But, it’s a yes with caveats.
For effective email marketing campaigns, you need to be sure that you are reaching the right people, providing valuable content, and maintaining consistency.
If you want to send email campaigns, you first need people to send them to - customers, prospects, and referral partners. The shortcut to a mailing list is simply to buy one, but be warned: check that your list is well curated, and not full of inactive accounts, generic info@domainname.com contact addresses for businesses, and fake addresses made up to fill in a subscription box on a web page.
While paid lists can be expensive to use, they can also be highly effective - especially if your target audience is a niche group of people. Whether you buy a list or build your mailing list organically through opt-in marketing (inviting your existing customers and visitors to your website to join a mailing list), it’s wise to ensure that you have created the right target audience before considering an email marketing campaign.
Bombarding people with transactional sales messages is a surefire way to get them searching for the unsubscribe link as quickly as possible. For email marketing to work effectively, subscribers will be keen to receive something that will provide them with a tangible benefit. This can be done through the use of valuable, engaging, useful content.
A regular newsletter can be effective, an automated series of emails which explores a specific topic can be an engaging tool, or even special offers or company news. Exclusive content is also high value: subscribers enjoy receiving something that isn’t available to others. And don’t think of it as a one-way channel, email can be a great way to ask for feedback from your most engaged customers.
Like most marketing, it’s a long game.
Whatever you’re providing, it will be more likely to appeal if presented in a way that’s visually appealing. Think media rich content rather than a dense block of text which isn’t easy to read in detail, and so it’ll be skimmed or not read at all. Think images, videos, and interactive elements.
Successful email marketing campaigns tend to be frequent and at a regular date and time. This gives your subscribers something to look forward to and expect, and prevents them from treating your content as an unwelcome surprise. Monthly or fortnightly updates are the norm.
Consistency is key: Can you ensure that your updates are regular?
Regular updates are equally important for new business email marketing. While most businesses will send just one email to a new business list, this generally won’t be enough. Sending between three and five emails to this list is best practice, allowing a brand to nurture their new contacts to increase the likelihood of a sale.
This consistency also applies to measuring a campaign’s success. Checking and comparing your analytics on a regular basis means you know how many messages are being opened, clicked and acted upon. You can change certain elements - subject lines, types of content, layouts - and see how the analytics differ, establishing what works for your campaign and your business.
Checking at the beginning and end of a campaign won’t reward you with the same depth of data; the analysis has to be frequent and consistent throughout a campaign’s run.
If you answered ‘no’ to any of these three questions, email marketing may not be for you....yet.
Get these three elements in line, however, and email marketing can be an incredibly effective weapon in your armoury.
Email is just one part of your overall marketing effort—to see how your whole strategy is working and find a space for new tactics, use our free Marketing 360 Healthcheck.
