Email Marketing: 5 Steps to Better Results
This post is excerpted from the e-book "31 Ways to Supercharge Your Email Marketing."
The biggest challenge with email marketing is that it is so easy to be successful marketers don't reach for the next level. After all, when something isn't broken, why invest time and energy in making it better? Most marketers don't make the effort to optimize their strategy because "good enough" serves them well enough. For those who want more, optimizing emails delivers more than additional sales—it turns casual shoppers into long-term loyal customers by creating a better shopping experience.
There are four reasons to send emails to customers and prospects: Acquisition, retention, sales and service. Most companies are very good at generating sales with emails, but fail miserably at the other three objectives. People miss opportunities to acquire new customers, improve relationships and increase satisfaction because email marketing is so good at generating revenue. Simple changes to your email marketing strategy make a big difference in results.
The first step is to complete a mini review of your email marketing program to see how effective it is at acquisition, retention, sales and service. Make a list of the emails sent over the last year and place them into the appropriate category.
What percentage of the emails were designed to acquire new customers? This includes all emails sent to prospects and those that specifically ask customers to share the information with a friend. (Placing a "Tell a Friend" button in the email doesn't count.) How effective were the acquisition emails at generating new prospects and customers? What changes made them better? How much did it cost to acquire new people?
How many of the emails were specifically designed to keep customers coming back? This question is often met with the response, "our promotional emails keep customers coming back." If your company is Walmart or you can effectively compete with low price leaders, this response is right. If your company is like most, you don't have the margins to guarantee the lowest prices and need to create loyalty-based customer relationships.