Email marketing has been around since nearly two decades and is known to stay around. The ease of sending advertisements, promoting a lead magnet to convert to customers, improving sales or fund raising are a few uses of email marketing. It involves sending emails to mass audience who are subscribers to bring awareness about a brand or product and to generate sales. Email marketing has evolved over the years and grown in popularity.
Types of marketing emails
Promotional Emails :
As the name describes these types of emails are generally used to promote a product or a service. Common email promotions include discount coupons, promo codes with offers, access to exclusive content, or admission forms for events.
Email Newsletters :
Newsletters are a means of reaching audience with latest updates or information related to latest products and services of the company. Some forms of newsletters are weekly digests of content, quarterly organizational updates, and promotional content for products and services.
Acquisition Emails :
This type of email is mainly for converting a lead to customer. The email includes exclusive information about what business has to offer or incentives to convince users who have shown some interest in product or service. It is undoubtedly a great way to grow business faster and drive additional revenue by moving leads faster through the conversion funnel.
Retention Emails :
The emails sent to existing users with the purpose of retaining them as your customers, are considered retention emails.
Objectives of Email Marketing
Conversion usually refers to an action required after reading the content in our case it would be the email. It acts as a primary tool in measuring return on investment for the marketing efforts. Those companies with higher conversion rates are known generate higher sales as a result of good email strategy. Email marketing conversion rate is measured as the percentage of subscribers performing the goal action after reading the email.
Brand awareness Building :
Brand awareness is most necessary and one of the biggest challenges for new businesses and start-ups. Email marketing is the most cost-effective way to build brand awareness cost effectively. Emails provide a reliable path to build trust with customers by enabling personalized messages through segmentation. With email marketing, its easier to anticipate the needs of consumers alongside creating a positive image of the brand.
Customer loyalty :
Customer loyalty programs have proven to be the most effective tool in customer retention and encouraging brand advocacy. Customer loyalty boosts company growth. It is observed that businesses that prioritize customer experience and provide excellent customer service have often known to have increasing revenue. Sharing exclusive offers, vouchers, coupons, incentives with existing customers pushes these customers into the delight zone of the sales funnel. Frequent reminders on the offers and coupons, birthday messages and offers, VIP deals, special incentives are some of the techniques to make an existing customer feel special. Personalized emails while expressing gratitude for continuing their journey as customers can take the relationship to the next level. Businesses with larger share of customers in delight zone have known to carry the brand image to higher levels.
Email Service Provider vs Internet Service Provider
The ISP (Internet Service Provider) is the company that gives you access to the Internet like Verizon, Vodafone and others.
The ESP (Email Service Provider) is a service used by marketers who send bulk emails to their subscribers like Aweber, MailChimp, Drip, Get Response, etc.
Gmail and Yahoo Mail are free email service providers.
Businesses use an Email Service Provider (ESP) to send marketing emails. Sending bulk emails using free email service providers like Gmail and Yahoo Mail can lead to disabling of the account for suspicious activity as it’s easily flagged by spam filters.
Email Marketing Strategy
A business's digital marketing strategy must include email marketing. Email is the most convenient and cost-effective way to reach business goals, attain higher conversion rate and also create brand awareness.
Identify the business goals :
Most common and relevant goals considered for email marketing -
· Grow your subscriber list
· Increase your open rates
· Improve click-through rates
· Retain customers and turn them into brand advocates
Create an Email Marketing roadmap :
Create a specific plan and timeline for finishing your project or campaign.
Create an Email Marketing Campaign :
Sending a series of email messages over a certain period of time is called an email campaign. In email marketing, a funnel represents the journey of a user from being a prospective lead to becoming a customer through educational and promotional email campaigns, which can prove to be effective for making email campaigns successful.
Create email automation strategies :
Few common automation strategies are :
Upsell Emails for Customer Retention
Email Vendor Evaluation :
Vendors have to be evaluated and scored based on following key area’s:
The ESP business model (are they focused on email send volume or services?)
Total cost of ownership /operation (TCO)
Service and Support
Deliverability (Monitoring, resolution and reputation services)
Other services they offer
Identify the KPIs for measuring the campaign success :
Important Metrics to determine the campaign success :
Click through rates
List Growth Rate
Evaluate and Optimize the campaigns through :
Send time optimization
The subject line, CTA, and content optimization
Email Marketing Campaign
Identify your audience :
One of the primary goals of email marketing is to initiate meaningful conversions. Emails that are sent to the wrong people create poor open and bounce rates also impacting ROI. Conversions are created by focusing and showing target audience what they wish to see.
Identify the campaign goals :
Defining your campaign goals can help you set the direction and measure the success of the campaign. Additionally, it prevents the emails from being sent to the wrong audience.
Decide on Email Type that suits the campaign :
Types of email campaigns depends on type of Email being sent, so it is necessary to choose a style that will help achieve campaign goal.
Evaluate the technology and email service :
Choose an ESP (email service provider) which have features like Templates, Tracking, Automation and Mobility.
Use creative content and lead magnets :
Initial step in email marketing campaign is to obtain the prospect's email address which can be done by offering them free value. Businesses require effective lead generation to achieve their goals, and lead magnets can help them to accomplish that effectively.
Evaluate the email marketing design, subject, email copy :
Marketing email must be carefully crafted in view to encourage the recipient to open, read and click through the email.
Plan for emails and follow ups :
An email marketing tool can be used to create, send, test, optimize, and report on campaigns. In addition, there are many email marketing tools that provide free services as well, such as MailChimp and Campaign Monitor.
Identify the testing strategy and optimize :
Testing must be made a part of your day-to-day processes. To determine a clear winner it is ideal to run tests on groups that are small, but large enough.
Identify the KPIs to measure the effectiveness :
Choose KPIs which answer basic questions about the campaigns, such as:
How many people open your emails?
How many people click your links?
Which link gets the most clicks?
What time do people open your emails?
How many average unsubscribes per email sent?
Building Email List
Embedded signup forms :
An embedded form is a way to display your form as part of your own web page, without your form users needing to click a link to parent site and can be used to collect email address of the signing up user.
pop-ups and overlays :
Website elements that can be used to engage users, increase conversions, and prompt other website actions can also be used to collect email address.
Add game mechanics into email to increase participation and allow users to subscribe.
Sign up for Notifications :
When business's want to inform their subscribers regarding the changes or updates to their website, product or service, a Notification email is used. Interested users would subscribe to receive such notifications. This can be a way to collect email address by asking the user to opt for notification.
Lead Magnets :
Offer an incentive in order to receive a visitor's contact information. Lead magnets are typically long-form content pieces that offer the user a value usually free like e-books, white papers, templates, etc.
Landing Pages :
A standalone web page, created specifically for a marketing or advertising campaign can be used for collecting email address.
Include opt-in fields at checkout :
A specialized checkbox field that presents the user a single checkbox and supporting message for them to subscribe during checkout.
Email marketing is a proven online-marketing element that can reach a high percentage of conversions while improving customer experience. A prerequisite for this approach is the target audience which must be relevant to the structure for your message which must be well thought out and content must be highly relevant to your target group.