You Need an Email Marketing Strategy That Works
First, let’s take a look at the advantages of using an email marketing strategy that works. First and foremost is cost. Email marketing has a huge advantage in this area. Once you have built a list of prospects and customers, you have that list and can conduct marketing campaigns, test results, resend campaigns and more without spending additional ad money.
While you may spend some time putting your campaigns together, you won’t have to re-run advertising to recreate the list. Once you’ve built the list, it’s time to start using the list and collecting that all-important data.
You will, of course, want to keep building the list. People will unsubscribe. Emails will get discontinued. Your goal is to keep your list growth happening.
One of the first decisions to make for creating an email marketing strategy that works is defining your audience.
Know who your customer is. Decide what it is they want and make sure each communication they receive from you shows them how to get it. Relevance is critical.
Understand the averages for your industry. These days, it is easy to find average open rates and click-through rates for various industries.
A quick search for “open rates by industry” will help you see what others in your industry are doing. Use these guides as a place to start setting your expectations.
Here at TrafficWave, our average open rate over 30 days is 33.7%. Over 90 days, that average open rate is over 42%. Industry wide (for marketing and advertising), the average open rate is just under 18%. This why we feel very good about our results AND we are working to get them even higher.
Our click-through rate is 4.3% over 30 days and 7.5% over 90 day. The industry open rate is reported at 2.4%.
In this area, we are far outpacing our competition. Do we love that? Absolutely! We still want to do better.
Once you have defined your customer and set your expectations, you want to actually start building your list.
You need a way for people to actually sign up.
This is where you set up capture pages, add capture form code to your site or blog, etc… When someone fills out that form, make sure they start getting your information. This is where your automated follow up letters come in. Nurture that relationship with your subscribers to help them feel they know, like, and trust you. This is where sales will come from.
Decide what to send your list.
Learn and use the different types of email marketing messages. Know which types to use and when.
Measure your results.
How do you see your own open and click-through rates? First you’re going to look at the opens and clicks and all that and see if the email performed. You can test various subject lines, layouts, call to action, etc… to maximize these results without spending additional ad revenues.
Then you can start tracking that close ratio. How many prospects become customers? How many customers become repeat customers?
The time you spend dialing these factors in are what will help you come up with an email marketing strategy that works.
The simplest way to think about this idea is to follow our TABS system. As you drive traffic, acquire leads, build rapport, and close sales, you will begin to grow your business which is the ultimate goal for your business.
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