Email marketing is still one of the oldest and most effective marketing strategies. With 4 billion email users worldwide, it's critical to leverage strategy in the most tactical way possible.
But most businesses fail at one critical aspect of email marketing: monetising their email lists. Since there is no one-size-fits-all approach, email marketers need to think creatively about monetising their email lists. Here we will explore some of the best ways to grow your business through email lists and keep it healthy.
Without further ado, let's get started.
Price is a critical factor influencing online purchases. This is why brands offer customers discounts from time to time. A recent study also states that 94% of customers look for deals or discounts when shopping online.
To remain competitive in the growing online space and reward repeat customers for their loyalty, brands need to entice customers by offering discounts or free samples.
With a well-executed email campaign, you can drive potential customers back to your store and improve the profitability of your business for better ROI.
Whether you're a software development company or preparing to launch a new product, you can deliver exciting experiences to your loyal customers through your email campaigns.
For example, you can send your loyal subscribers exclusive memberships or give them early access to a new product launch to make them feel valued.
You can create a personalised email campaign for your customers and offer them the opportunity to engage with the brand, experience new things, and potentially convert. To attract customers, you must present yourself as a company that protects customers' data and does DMARC configuring to avoid email security threats.
It's no secret that all customers need a little nudge to get them moving through their buying process. Also, each customer is at a different stage of the sales funnel, so emails need to be personalised.
For example, if you want to attract new consumers, you can send them welcome emails with discounts and offers that spur action. On the other hand, to loyal and recurring customers, you can send them early access or membership offers to get them excited.
The concept of retargeting may not be new, but it's still hard for companies to get it right. One of the best ways that companies can help customers re-engage with a brand is through retargeting campaigns.
Retargeting email campaigns target subscribers who have already shown interest in your products but haven't taken any action. You can send personalised emails to customers who have already shown interest in your products or encourage visitors to make a purchase.
Still not sure how your product will take off or want to know how your new product feature works? Try sending surveys by email.
For most marketers, email surveys are focused on data collection. However, they are a valuable tool for getting to know your customers and collecting their opinions. If you send newsletters, you can send a survey embedded in them or through images.
Receiving feedback will open up new market opportunities for you and help you better engage dissatisfied customers.
We all dream of having something exclusive in our lives. Whether it's a limited edition watch or an exclusive basket, everyone wants something they can't have. Who would have thought that you could use this trick to grow your business.
The idea is simple. Send your customers in-stock or wish-list emails. These emails increase demand for unavailable products and provide customers with a rewarding experience.
Studies have shown that restocking emails have a 65.32% open rate, making it a strategy worth trying. In this way, you can spark positive interactions with your consumer base.
Automation is paying off everywhere. The same goes for email marketing. You can schedule and send automated emails to your customers at specific intervals based on their actions. These emails are sent whenever a subscriber takes an action on your website.
For example, if a customer signs up for your newsletter on your website, you can send them an automated registration confirmation email. Instead of sending jerky emails, you can automate messages to your email list to save time and warm up potential customers.
Machine learning technologies in marketing automation can help you create a personalised consumer experience. Marketing automation campaigns with ML cut down on repetitive tasks and give you more insight into your marketing data. Automated email campaigns can accelerate revenue growth, shortening the sales cycle.
What's on your email recipients' minds right now? Is there anything in the news that is relevant? For example, Out of the Box Innovations specialises in SEO for solar companies. They have recently gained new clients with a completely cold and non-personalised campaign. They achieved open rates between 29.74% (US) and 56.65% (US) and less than 1% unsubscribed in a series of five emails.
The higher-than-usual sales and no cancellations are because each email covered something real. For example, the increase in gas and electricity prices, the risk of blackouts, concerns about the supply chain of photovoltaic solar panels.
The biggest driver of a successful marketing campaign is experimentation. A/B testing, also known as split testing, is a method email marketers use to increase open or click rates.
The procedure is as follows: You create two variations of the same campaign and divide a small proportion of your email list into groups A and B. One variation of the campaign is sent to group A, while the other to group B. The better performing campaign of the two is the one you send to your remaining subscribers.
Successful companies are already testing this method to drive sales and improve the customer experience. Now it's your turn to accelerate your sales funnel with constant A/B testing.
Now that you have an idea about how to leverage your email lists creatively, you might want to know how to use your email list specifically to increase sales. It is a challenge, but not impossible.
Let's discuss some ways to use emails to increase revenue and sales.
The rise of social networks has made the possibility of expressing their opinions and comments more accessible to customers, making social proof part of a brand. Any positive comment or rating of your internet business can make other people trust you immediately.
Social proof presence is vital to your revenue and growth as it affects how people perceive your brand.
The best way to drive sales through email campaigns is by integrating social proof like customer testimonials and case studies. Testimonials chronicle different customer experiences, and case studies show that your company solved an existing problem and why it's valuable to you. Nowadays, external validation carries more weight than brand messages, so you shouldn't ignore them at any cost.
Great products have not experienced the takeoff they deserve due to a poor promotional strategy. For a new product launch, it is necessary to have a tribe of early adopters who not only use the product, but also provide valuable feedback that is important in the early phases.
In addition, it is a rewarding experience for the most loyal subscribers to receive an exclusive preview of the newest products. You can craft an email that introduces your product in an innovative way or use storytelling as an element to drive sales.
What most people want from their service providers is value. The sleazy promotional email tactic can be too much at times and often doesn't work.
In today's world of sales, the only way for a representative to close a deal is to add value to the customer throughout their buying journey. Hard sales tactics are bad for both the buyer and the representative.
You need to design sales emails that do more than just force information down the prospect's throat. Offer guidance, insights and value through interactive content and suggestions.
Answer whenever they ask you something. The most underrated sales technique is attention. Start taking advantage of it today.