Email Marketing strategy for 2019!
This is our tip – for growing a mature business in 2019.
You can increase revenue by a huge percentage, possible even up to 30% this next year with email marketing – if you have a database from your existing customers! Engaging with customers on a more regular basis will increase customer loyalty and revenue as well.
Email marketing is the most mis-understood and under utilised marketing strategy – with an abundance of tools that integrate with just about every customer relationship management system.
A quick history
1. In 1971, Ray Tomlinson, a computer engineer, developed a new system of sending messages between computers.
2. In 1972, Larry Roberts develops the first email management system that allows users to list, select, forward, and respond to messages.
3. “In 1978, Thuerk sent an email promoting DEC machines to 400 users via Arpanet. What would have then been a complete novelty for recipients (receiving a sales/marketing message directly to their computer’s inbox) resulted in $13 million worth of sales for DEC machines.”
He was the first person to send a mass e-mail, for commercial purposes in 1989.
It has snowballed from there and these days returns ROI’s in the order of up to 40:1…
Why is email an important part of marketing?
“More than 34% of the people worldwide use email. That’s about 2.5 billion people. It’s predicted to increase to 2.8 billion email users in the next 2 years. Yup, email’s popular. The Radicati Group, who came up with that info, also reckon that the world sends about 196 billion emails daily. Out of this 196 billion emails the majority, 109 billion, is business email.
It’s easy, effective, and inexpensive. Email marketing allows business owners to reach a large number of consumers at a rate of nearly nothing per message.
For small-business owners on a budget, this makes it a better choice than traditional marketing channels like TV, radio, or direct mail. You don’t have to take our word for it. A joint study from Shop.org and Forrester Research found that 85% of American retailers consider email marketing one of the most effective customer acquisition tactics. Why do we use American data? Because they are really good at it, do it often and spend lots of money on it!
Email Marketing is something that many people forget about or neglect to include. It is a diverse and powerful marketing tool – the most powerful by far. It all depends on the quality of your database segmentation and offers that you are willing to make, in order to attract people to take an action – as a result of you reaching out to them. Nurturing is the key to email marketing… it is a long game, but can have great immediate results when properly targeted. Your existing customers are one of the most neglected pieces of the email marketing power.
Normally businesses make 80% of their revenue from 20% of the customer base. Meaning that there is 80% of most businesses customer who could potentially by a lot more. They already buy from you, so nurture them so that they want to buy more. A very common mistake people make with email is pushing people into buying something. People will buy when they are ready, not when you want them to buy. 97% of people are not in the buying cycle even when you know they need your product or service.
How to start:
Many businesses don’t regularly update their customers about what they are doing in business, especially new developments. Most of them will be more than happy to be updated.
Do you know what each customer buys from you (product %)?
Do you track this type of data?
About 80% of sales come from about 20% of your customer base… Which means the other 80% can usually be a great resource to build your business.
Obviously there needs to be a plan before you start emailing people… But there is nothing to lose by trying this new tip. Just don’t spam anyone, no-one enjoys that.
Some common mistakes:
1. We see far too many non-personalised email campaigns. Most of these will go straight to the spam folder. If some get through, they will be sent to the spam folder by the recipient and will most likely be unsubscribed as well, and therefore useless to you in the future.
2. Vendors ask for business without giving value first…
3. No call to action is presented with a special offer.
Is email marketing the best way to reach my customers?
Using your existing database doesn’t cost a whole lot of money and if done well will bring more sales and engage your friendly customers who already love you!
Email marketing is a non threatening way to reach out and doesn’t interrupt anyone. It also gives you something to get the customer to refer to when you ring them… to follow up. There is in most cases multiple touch point prior to there being an interaction where money changes hands.
If done well you will have led the customer to what action you would like them to take in the email… which you can talk them through when they start reading it while you are discussing it with them on the phone. This style of selling uses multiple touch points and spaced over a timeframe with which customers are more comfortable to discuss their problem and your solution.
Some examples of “how to do” Email marketing… after you have started with the soft touch ie. Newsletter updates.
You can use many different entries into starting an email marketing campaign. Here are a couple of examples:
1. Using problem statements to get your customers to think about their next steps in solving the problem that your solution fixes.
2. Presenting an offer that is too good to be true to those that you know would be needing something like your offer provides, right now.
Starting with calling potential customers or existing customers and trying to explain a new offer is difficult on the fly, especially when they don’t know what you are talking about to start with.
If you are finding this too scary a concept to start on your own, we are more than happy to help. Finding an adviser who can help you develop a great email marketing strategy (if you haven’t every written and managed a campaign before), is well worth the investment!
Achieving great results through all of your marketing efforts should be the aim… and not just limited to what you have always done and know well.
If you don’t have time to plan and execute an email marketing campaign yourself – email us and we can start the journey of helping you make more money from your existing customers. Consult@abcselling.com
Great marketing results, are the start of great sales results… it’s that simple.
To have development of opportunities and clarity in your sales pipeline are ‘must haves’ for great sales results. With the right marketing mix – you get all of the above. There needs to be a great sales process also, in order to be effective and get the results you’re after.
Ensure that your plan, process, strategy and structure are well thought out and therefore aligned for a start.
Putting in a good Plan, Do, Check, Act cycle will make sure that you are Testing and Measuring to be assured that you are on the right track and getting great results.
Making sure it’s all put together well – will ensure your team is not only efficient and effective. They will also be able to be kept on track and see for themselves – where they are headed and aiming at a focal point!
We are in business to partner with people to properly diagnose the root cause of the roadblock to their business growth.
Our aim is to lead businesses into growth, through the growth cycle and out into continuously growth outcomes.
Wrapping it up
Following these points above as an initial guide will start to get you and your business further down the path of getting better results from your sales and marketing functions. Clarity and consistency in your sales pipeline is likely to be a major benefit to your business management team as well.
The goal is not simply to bring potential customers to the table, but for you to be able to provide better and cutting edge solutions for your present and future customers through understanding what they want and need.
Communications is the key!
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About the Author
Matthew Benn is the founding partner of Alongside Business Consulting. He has been a senior BD and sales leader for over 12 years, as well as being a small business owner for more than 8 years.
He really enjoys the challenges and successes that come with developing people and growing businesses, hence has taken these passions and put Alongside Business Consulting on the map. Our aim is to help business owners take control of their destinies and build their businesses successfully… Business Growth Simplified.