Our E-mail Addiction - 2
In marketing, do you use a letter or HTML--or both?
Vol. 4, Issue No. 53 | September 25, 2008 By Denny HatchIN THE NEWS
Five ways to use e-mail marketing to acquire new customersAre you acquiring new customers to help grow your marketing program? Customer acquisition is one of the leading strategies to help increase profitability. A customer strategy survey developed by Baseline Insight indicated that the top two strategies for improving profitability in 2008 are acquiring new customers (43%) and generating more business from current customers (25%). E-mail marketing has proven to generate the fastest direct marketing return on investment; it is successfully used in both customer acquisition and retention. The following strategies can help acquire new customer using e-mail marketing ...
--Kim Zinda, VP of business development and strategic marketing, Ovation Marketing, BtoBonlne.com, Sept. 15, 2008
Kim Zinda's five ways to use e-mail marketing are:
* Provide subscription visibility.
* Employ e-mail onboarding programs.
* Use promotional activities to acquire new e-mail names.
* Append e-mail names to an existing database.
* Fine-tune your data.
I have no quarrel with anything Zinda says in her 937-word piece and have provided a hyperlink below FYI. Zinda's dealing with the technical aspects of e-mail marketing.
But once the electronics are in place--the right audience and the ability to reach them--what do you say and how best to say it?
I just ran across a Forrester Research report from July 2008 that predicts the volume of e-mail marketing will hit a high point of 838 billion messages by 2013.
Yes, the cost of e-mail is low. But with this huge blitz of traffic, the message must be compelling and relevant--from the subject line in the inbox to the landing page and the follow-up.
Always remember that, at any point along the way, the effort is a mouse click away from oblivion--whereupon ROI is nonexistent and your time spent is wasted.
Marketing Strategy
My early experience was in the world of book continuity series--giving away the first book free (or for a buck) and selling the other 23 volumes at the rate of one book a month. Success was measured by the average number of paid books per customer.
If a customer quit after the first free book, you had what consultant Bob Doscher labels a "premium bandit"--a person who sends away for anything free with no intention of buying.
In the continuity business, you began to show a profit somewhere around volume three or four. If the average number of paid volumes was six, you had a success on your hands. However, if a customer could be persuaded to hang on for just two more volumes, the profit increase would be huge, because acquisition costs were amortized over the first two paid volumes.
Takeaway Points to Consider
* In e-commerce, yeah, it's so cheap to send e-mails that you can throw eggs against the wall and some of them will stick. But why not craft a beautifully planned and executed campaign that starts with precise testing and ends up bringing in good customers for the long haul?* The determining question: Is the product or service you're offering immediately recognizable to the prospect, or does it need a lengthy explanation?
* "The prospect doesn't give a damn about you, your company or your product," said Seattle guru Bob Hacker. "All that matters is: 'What's in it for me?'"
* In e-commerce, the action can be instantaneous. E-mail in in-box ... click ... sales message ... click ... order ... click ... credit card info ... click. Done. If the product or service is delivered by e-mail (special report, Bob Woodward book to your Kindle, downloaded software program, etc.) there's instant gratification. If not, just spend a few bucks extra to get the product the next day.
* When you make an online offer with a hyperlink, don't send the prospect to your homepage, but rather to a special page that directly relates to the offer.
* "Two basic tenets of selling are that (1) people buy from other people more happily than from faceless corporations, and that (2) in the marketplace as in theater, there is indeed a factor at work called 'the willing suspension of disbelief.' Who stands behind our pancakes? Aunt Jemima. Our angel food cake? Betty Crocker. Our coffee? Juan Valdez. Anyone over the age of 3 knows that it's all myth. But like Santa Claus and the tooth fairy, the myths are comforting."
--Bill Jayme
* Not studying other people's landing pages is like a brain surgeon who doesn't study brains.
* "Always make it easy to order."
--Elsworth Howell
Web Sites Related to Today's Edition
"Five Ways to Use E-mail Marketing to Acquire New Customers" by Kim Zindahttp://tinyurl.com/4hr5d7
"U.S. Email Marketing Volume Forecast, 2008 To 2013," Forrester Research
http://tinyurl.com/6cccpj
Discount cruise companies with landing pages worth studying
http://hrivera.cruiseone.com/travel/cruises/index.do
http://www.cruisesonly.com/
http://www.vacationoutlet.com/
http://www.vacationstogo.com/



