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Simple steps that show you how to use email marketing to increase your ROI
There are many tactics that small businesses can incite to increase lead conversions. If you are not content with your current lead conversation ratio (and let's face it, none of us are), you should consider email marketing as a way to increase your closing ratios and overall profits.
Before we get started on the "how-to's," let us first lay out the "why-to's." Because email marketing does take some time and effort to setup and manage properly, you should know that in the end it is worth it! Here are some quick facts you should be aware of:
A Neilson Online study showed that 35% of people polled said they used email more than they did two years ago. Only 7% said they use it less.
A recent study showed that email marketing generated an ROI of $43.62 for every dollar spent on it. - Direct Marketing Association
A survey by MarketingSherpa saw pay-per-click search ads rank top for ROI followed by email marketing.
The Ad Effectiveness Survey commissioned by Forbes Media revealed that email and e-newsletter marketing are considered the second-most effective tool for generating conversions just behind SEO.
They keys to a successful email marketing campaign are strategy and implementation. So without further adieu, let us present a strategy with key implementation points you can follow on your own that will increase conversions with your email marketing efforts:
Overall Strategy
Consistently send emails to leads that have provided their email address either in person or online. This will increase your communication with hand raisers and assist in turning them into loyal customers.
Step One: Be sure to create your own lists by asking users online as well as your in-store consults and customers to provide you with their email addresses. DO NOT buy email lists from third parties.
Step Two: Once you start generating a list keep it updated and keep it current.
Step Three:Create a plan and start sending emails.
There are several email programs you can use for this implementation. Some industries have CRM tools specific to your needs. If you don't have access to one of these you can use an inexpensive email marketing tool such as MailChimp or Constant Contact. No matter what you do, DO NOT USE YOUR OWN EMAIL ADDRESS TO SEND MASS EMAILS! This will cause you to get blacklisted and create all sorts of trouble.
HOW OFTEN SHOULD I SEND E-BLASTS?
Send at least one email a month (preferably 2-3 per month) and communicate consistently with your "hand-raisers". The more retail oriented your business is, the more emails you should be sending each month.
WHAT TO SEND IN YOUR E-BLASTS:
When sending your emails:
Be personable. Unless you are a full retail or e-commerce business your message should not always promote your business or a sale.
Be informative. Consider every other message being about a new technology, industry news or a new trend in your industry.
Use gorgeous images the customer can relate to.
Consider closing with a testimonial in every email.
Vary your messaging each time so that you do not bore the potential customer.
You can always include a quick blurb about what you do and always include your brand tagline.
Step Four: Setup a drip email marketing campaign
A drip campaign sends your potential customers email messages based on when they signed up. You can create a timeline to automatically send follow up emails with your customers once they are in the system. You would need to schedule these out something like:
Email 1 – send 24 hours after initial contact – topic: "Thank you..."
Email 2- send 48 hours after initial contact – topic: "Waiting to hear from you..."
Email 3 – send 1 week after initial contact – topic: Promote one of your services and offer a coupon.
Email 4 – send 3 weeks after initial contact – topic: "We're here to help!"
Email 5 – send 6 weeks after initial contact – topic: Promote one of your services and offer a coupon.
Email 6-10 8 weeks, 12 weeks, 18 weeks, etc...vary your message accordingly.
Step Five: Follow up
Also be sure to follow up with phone calls to customers you have not heard back from. Do this at least once per week. Set aside a specific time each week to do this, and don't let anything get in the way of that time!
Step Six: Wash, Rinse, Repeat
Treat your campaigns like living and breathing organisms that need attention to stay alive. Be sure to analyze your data. See which of your emails are being opened and clicked the most. Track how many people in your email database have turned into customers. Determine what is working and what is not, and then adjust your email messages accordingly.
Too often we spend time and money trying to generate new leads when we have a goldmine of current leads right in front of us. A solid and consistent email marketing strategy can help us communicate with these potential clients and turn them into valued customers.
* This article focuses on the do-it-yourself model of email marketing for small businesses that simply cannot afford to hire a professional email marketing company. However, professional digital marketers like enCOMPASS Agency have a breadth of understanding and a plethora of tools to help manage email marketing campaigns so they deliver the fullest of results.
