Email Marketing is the mainstay of modern marketing.
You don’t believe me?
No worries. Check out McKinsey & Co report that clearly states that US companies acquire 40 times more customers through emails than Facebook and Twitter combined.
In short – emails generate 174% more conversions than social media; not to mention an incredible $41 ROI for every $1 spent.
Then there are additional reports that further solidify email marketing’s place in the ever-evolving marketing mix.
According to Cognique, 91% of consumers check their emails daily. And if social media buttons are added to it, the click-through-rates skyrocket, almost by 158%. Yes, you read that right.
Image Source: www.cognique.co.uk
So there’s no question, whether or not to use email marketing to drive sales, because it’s that crucial. And the success of your online business largely depends on it.
Though email marketing no longer has to prove its potential in terms of revenue generation, but then, marketers can’t afford to sit back and rest on their laurels. They need to keep reinventing as per audiences’ requirements.
Here we walk you through six tips, which will help you constantly improve your email campaigns:
#1. Thorough segmentation of your audience
Eva, a character in Celelia Ahern’s popular novel, “One hundred Names,” used to come up with highly emotional gifts that always left her clients teary-eyed. She stayed with them. Studied them. And successfully tailor-made gifts for them.
Although desirable, achieving such level of intense bonding with your email customers is almost unthinkable, considering the diverse users you need to deal with. But then, you could easily figure out who your users are and their special behavioral traits on the basis of the customer data you may have accumulated over the years.
You could simply divide this data into different segments to send targeted emails to users. Such emails are sure to draw users’ attention over emails that are sent out randomly without any segmentation.
That said, you need to look beyond the mundane geography, birthdays, age, gender and other generic stuff when it comes to thoroughly segmenting your audience. That is, only if you want your emails to have some sort of magical effect on your audience just like Eva’s gifts.
Yes, it’s possible. To make that happen all you need to do is further segment your users in the following categories:
- Subscriber activity
- Social interaction
- Buying frequency
- Purchase interests
- Shopping cart abandonment
- Content engagement
- Job function
- Past purchases
- Page views
Emails that are sent to a segmented audience enjoy better success rates.
When you put in that extra effort to send emails based on the person’s interest, you are sure to have better open rates, click-through rates, conversion rates and so on.
#2. Iterative Improvements in the Email Copy
One of the top reasons people unsubscribe from your emails is because the content no longer seems relevant to them.
So iterative improvements in the copy are one sure-fire way to keep the unsubscriber list in check; not to mention attract new subscribers.
Speaking of making changes in the copy, there’s always room for change in your copy – be it the subject line, call-to-action line or the entire email copy in itself.
You could, in fact, conduct A/B tests on your copy to know what sort of tweaking and tinkering could help you generate more sales. Your email’s marketing success solely depends on how good or how bad your copy is.
So, Test, Test, Test, should be your catch phrase.
- A/B Test Subject Lines
- A/B Test Headline
- A/B Test Call to action
- A/B Test Testimonials
- A/B Test Closing Text
- A/B Test Images
Remember the motto of a conversion copywriter – “never settle,” if you are looking for continual improvements in your email conversion rates.
#3. Bear Down On The Bounce Rates
High bounce rates could wreak havoc on your email marketing campaign. The reasons for high bounce rates could be many – from a flooded mailbox to an invalid email address to an email with a typo.
For starters, bounce rates are of two types: a] Hard bounces b] Soft bounces
Image Source: www.crazyegg.com
Hard bounces occur when you are sending emails to an address that no longer exists. Major ISP’s such as Gmail, Yahoo, Hotmail closely keep an eye on hard bounces. Never mind your email service providers, you should make sure that no hard bounces are part of your email list.
Because if you let them be, it would automatically reduce your delivery rate, almost by 10% to 20%.
Soft bounces happen when messages are sent to inboxes that are already full. Turns out that people sign up your list with their secondary or junk email account, which keeps these inboxes full at all times. According to HubSpot, 58% of the users have a junk inbox, typically used for downloading free reports and for other commercial messages.
Additionally, soft bounces occur when the spam filter distinguishes your email as Spam or when your name is not part of the recipient’s wishlist.
However, soft bounces are nothing to lose your sleep over. That said, if it’s more than 2% to 3% percent, it’s time for you to scrub your list.
#4. Chase Down The Churn Rates
For most of the email marketers, ‘churn rate’ is still an unknown matrix.
So here’s how you measure your churn rate.
Churn rate = (unsubscribes + hard and soft bounces + spam complaints) : List size
The average churn rate is 25 to 30% per year. That means companies lose 25% of their email subscribers every year because of the high churn rate.
This means, companies need to fill in the subscriber gap and so should actively scout for 25% new subscribers to maintain this list size.
How do you fill in the 25% subscriber gap caused because of churn rate?
- Connect with inactive subscribers with a “welcome back” email campaign or something that fits better. You can even consider incentives such as free coupons, free e-books and things like that for your re-engagement campaigns.
- Set up an ‘opt-down’ feature in your email rather than letting subscribers ‘unsubscribe’ you. For instance, if your subscriber wants to bring down the number of emails that he or she receives from you, say from 4 to 2 emails per month, in such cases, the subscriber needs to click the opt-down option that appears in your email campaign designed with the same objective in mind.
Image Source: www.emailonacid.com
- Conduct a survey to know you audiences’ taste and then tickle their taste buds with suitable content.
- Consider double opting-in, second time via emails. This would ensure lesser opt-outs and at the same time produce more engaged email subscribers.
- Craft more engaging emails.
However, your focus should always be on quality over quantity to make sure your campaigns resonate well with your audience.
#5. Get a Hang of Heat Maps
Find out which part of the email draws maximum attention of users.
This would help you determine which part of your email needs to be re-worked to ensure the maximum eyeballs in the longer run.
Image source: http://www.pinpointe.com
#6. Keep an Eye On Earnings per Email
Just like you measure pay-per-click efforts, you could track and measure earnings per email as well in terms of product page traffic, orders placed, request for quotes and so on. Just ask your service providers to give you regular reports on the same, which will help you easily figure out what sort of email campaigns are proving profitable to you and what sort are not, and accordingly make changes in your email marketing campaigns.
For many, email marketing may seem to be a marketing tool straight from the Spartan era. But then, the power it wields could put other tools in the shadow. However, it’s imperative to use it in the right way to ensure maximum ROI.
Over to you now. Does your company leverage email marketing to propel sales? In addition to the 6 tactics mentioned above, what other tactics should be constantly focused upon to make email marketing really effective? Go ahead, list them below. Find out how you can use cold calling scripts to increase sales and how you can utilise a sales CRM.
Author Bio: Jini Maxin is a Sr. Writer with OpenXcell – Mobile App Development Company which offers app solutions across the globe.