Don’t worry, I used to be bonkers.
I never used to think email marketing would be that useful to reach my goals. I received hundreds of emails each week and I barely opened any of them. That was until I started to scale one of my websites and was about to launch my first product.
For 2 years, I had been building a website that received more than 1 million unique views lifetime, and I didn’t bother to collect a single email address. All I could think was how many extra sales I could have made, if I’d only had placed an opt-in form on my site to grab a percentage of that traffic.
Even a 1% opt-in rate on 1 million visitors would have been 10,000 potential leads to pitch my new product. Oh well, an expensive lesson learned.
Does email marketing really work?
While I hardly open my emails, email marketing is extremely effective. The problem most local and aspiring businesses owners face is not knowing how to correctly use email marketing to grow their business.
According to Econsultancy, email marketing returns the best ROI of all online marketing methods:
Furthermore, the Direct Marketing Association found that for every £1 a marketer spent on email marketing, they yielded a £38 gross profit.
What can it help you achieve?
Okay, the stats sound great, but what can it help you do?
Capture traffic – Your website will receive a lot of visitors who will most likely never revisit your website after their first interaction. With the average website bounce rate at 70%, placing opt-in forms allow you to re-engage with prospects that otherwise would have been lost.
Ever wondered why so many businesses are giving away free eBooks and reports for email addresses?
It’s to convert the I’m not ready to buy just yet prospects into paying customers. You can send prospects customer testimonials for social proofing, free information to address paint points and valuable content to brand your business as an authority. These are all common methods to turn ‘maybe prospects’ into paying customers.
Keep customers engaged – You already know that attaining customers is hard enough, the last thing you want to do is lose them through lack of engagement.
Weekly newsletters keeps the relationship between you and your customers healthy, and ensures they don’t forget about you. Holiday and personalised birthday wishes also makes customers feel more valued, and you know what valued customers do? Spend money.
Take this one actionable step today
If you’re not using email marketing to grow your business, start today by taking this one easy step I’m about to show you.
But before I do, do you know which type of email receives the most amount of opens? The welcome email:
For every prospect who signups to your list, 50% of them will click on your welcome email, that’s extremely high given the average email open rate is around 23%.
How can your business leverage this information? If you run an online store, create a welcome email that lists your top products. If profit margins allow it, offer a time-based coupon to encourage them to act now. This is the quickest way you will turn a prospect into a customer.
If you offer a service, list your telephone number or offer prospects a free 10 minute consultation to help solve their problem which they can book by replying to your email. Alternatively, link your most valuable blog posts in your welcome email, this will help build trust and cement social proofing faster.
Don’t send a generic thanks for signing up to my newsletter because you’re wasting a great opportunity to sell or brand your business.
To set something like this up you will need an email automation tool, I recommend using Mailchimp as it’s free for the first 2000 subscribers.
To really make the most of email marketing you will need an email automation tool. Mailchimp will provide metrics on email opens, clicks, unsubscribe rates and other useful data to help you better plan your email marketing campaign.
As with any online marketing strategy, don’t be put off at the start as you will only capture a few email addresses per week, building a high quality lists take time.
Harvie is a digital nomad, content strategist and a successful eBook author. When he’s not creating content or advising business owners, he spends his free time walking around Asia taking in the sights while simultaneously avoiding the pollution and crazy traffic. With a strong marketing background and the experience to back it up, Harvie knows what really works in today’s marketing world.