This is an excerpt from a post on Walter Insights:
“Email has evolved from what it once was at its conception. It is no longer sufficient to send out a generic email to your list of email addresses for any particular purpose. Your list is comprised of different people, with different characteristics, different behavioural patterns, who are at different stages in the buying process. As technology and data collection techniques develop further, these facets of your list allow you to further segment and personally address each customer beyond merely their name. You can craft messages designed to tap into wants, desires, preconceptions, and possible objections. “
Email marketing is one of the most effective methods of communicating with your existing customers. If your business has good partnerships set up with other companies utilising these networks and email lists can be highly profitable also, and garner many new leads.
Benefits of Using Email as a Marketing Tool
- Email allows you to reach a larger volume of market.
- Email drives conversion.
- Email is the preferred communication channel of choice for promotional content.
- You can test email before sending it out to your subscribers.
- Email is effective in driving ROI.
- Email marketing performance can be tracked and monitored easily.
- Email allows for more frequent conversations.
- Email is open to everyone.
- Email drives website traffic and improves your visibility.
- Email marketing is more eco-friendly compared to traditional mail.
What Your Email Strategy Should Do and Communicate – Relationship Building
As with all online resources, an email can have one of three purposes.
- Encourage a user to transact or convert,
- Provide information or education to a user, or
- Direct users to, an online destination such as a content platform.
Your email strategy should take these three roles into account. Your email strategy is aimed at creating an authoritative voice in the mind of your consumer. It is about more than providing information, it is building a relationship, and the trust necessary to pursue opportunities when they are presented by you.
How to Test if Your Email Strategy is Working
This includes looking at things like:
- links included in emails,
- traffic analysis in GA
- split testing of email copy
To test your email strategy, you should analyse your open rates and click rates over a period of emailmarketing-4time, and also look at your website analytics for any website traffic from the campaigns.
As a best case practice, make sure your links from your emails are tagged with “campaign” variables for software such as Google Analytics. This allows you to see your email campaigns inside Google Analytics and see what conversions came from your emails.
If you’re not satisfied with your email results, you need to consider two things:
- Who is on your list, how long have they been there and how you should develop your list.
- Your messages, email content, subject lines etc.
In many cases, organisations often email old stale lists. People change email accounts often, and it’s likely your low engagement is due to an out-dated list. It’s time to build new subscribers from your websites and other methods while segmenting your list up for people who open your emails and those that don’t. It’s much better to have an active healthy list of 100, than an inactive list of 1000.
It’s also a good idea to test new ideas of email content, including personalising and changing up subject lines to be more engaging. A little bit of creativity and persuasive copy in your emails can make all the difference and boost up your open rates and engagement.
Assessing Email Marketing Performance
In any marketing campaign, digital or otherwise, effectiveness needs to be quantifiable. In this context, this means that email effectiveness must be measured against the business goals. Such metrics usually include sales leads, conversions, and overall revenue. To put this in other words, questions answered through these analytics and metrics usually include:
- How many people received the email?
- How many recipients opened the email?
- How many clicked on a link within the email
- How many converted once they landed on page
- How many conversions can be indirectly attributed to the email?
We recommend that you and your team take full advantage of Google Analytics or another analytics platform to track your email metrics.
What is a Good Email Open Rate?
According to MailChimp, depending on the industry, open rates vary from 13.2% for daily deals and E-coupons, to 25% for non-profits.
Some software reports CTR as the percentage of opens that clicked, and others report percentage of sends that clicked. We report the percentage of sends that triggered user clicks. For this purpose, the same study by MailChimp found that CTRs vary from 1.88% to above 4%.
Email open rates depend on the relationship that you have with your list, how many people on your list have active email accounts, and the frequency and purpose of emailing. Daily deals sites often email several times a day, so having low open rates is logical. If your content is valuable and you email every week or two, you’ll likely have a better open rate as you develop a relationship with your list.
Segmenting your email lists will help you send out personalised content to a targeted group improving your open rates and click-through rates. Here’s how you can segment your email list:
- Purchase cycle
- Triggers from website
- Previous purchasing activity
- Results from surveys or questionnaires
Email Marketing Do’s and Don’ts