Email marketing has been around for about four decades. In 1978, a man named Gary Thuerk, who worked for Digital Equipment Corp, sent out an email to about 400 recipients. Guess what? This led to $13 million in sales. So, from the get-go, email marketing has been very effective.As personal computers became more popular in the 1980s, email usage naturally increased. Now, almost half a century later, is it too late for you to make use of email as a channel? Does it still work? Is the competition too stiff? This blog post will answer those questions and provide the foundation for you to grow your business with email marketing in 2024.
What is Email Marketing?
Email marketing involves directly contacting your target audience with promotional messages for your product, service, or cause. This directness is what makes it effective, as there are no algorithms like those on social media that dictate whether your content gets shown or not. This results in a great way to build connections and drive sales.
Why Email Marketing?
- High ROI: According to the Data & Marketing Association, email marketing has an average return on investment (ROI) of $42 for every $1 spent.
- Direct Access: Emails land directly in your audience’s inbox, offering a direct line of communication.
- Personalization: Emails can be personalized based on user behavior and preferences, increasing engagement and conversion rates.
- Measurable Results: Track open rates, click-through rates, and conversion rates to refine your strategy.
Getting Started in Email Marketing
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Create a Way to Get Emails (Build a List)
There are several ways to gather emails. You might have an existing customer base, or you can ask for emails in different contexts. Be sure you have permission to send them marketing emails. Here are some common methods:
- Add an email form on your website: Offer visitors an incentive to provide their email, such as a freebie, e-book, or discount.
- Social Media: Promote your email campaign on social media using compelling calls to action.
- Events and Webinars: Collect emails during events, both in-person and virtual. This is the perfect time to ask for promotional purposes, especially if you’ve already collected emails for webinar signups.
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Choose an Email Service Provider (ESP)
An email marketing service provides the tools you need to launch your campaign. The form on your website should be connected to the ESP, adding subscribers to a list. Some recommended ESPs are Brevo, Constant Contact, and Active Campaign.
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Define Your Goals
Align your email marketing goals with your business objectives. Ensure these are SMART goals. Instead of saying “I need to increase sales through email marketing,” say “The goal is to boost handbag sales by 20% in the first year by nurturing existing loyal customers via email.” This helps you create a funnel with engaging content and tailored offers.
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Segment Your Audience
Segment your list into smaller groups because different leads or customers might respond to different promotions. Segmentation can be based on:
- Demographics: Age, Gender, Location
- Behavior: Purchase history, website visits, email engagement, webinar attendance
- Preferences: Interests, product preferences
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Create and Send Emails
Break this down into content and design:
- Introductory Email: Send a welcome email when someone signs up. Greet them, thank them, and explain what they can expect. Ensure it captures attention while aligning with your brand.
- Ongoing Emails: Focus on building relationships, not just making sales. Provide value before transitioning to sales. Personalize emails with greetings and other content.
Emails should have:
- Eye-catching and compelling subject lines
- Personalization
- Clear and concise copy
- Strong calls to action
Design your emails using templates provided by your ESP. Adjust colors, fonts, and layout according to your brand guidelines. Use high-quality images that complement your message without overwhelming it.
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Create Email Automations
Email marketing allows for automated emails based on triggers, driving engagement and sales. Examples include:
- Welcome emails
- Birthday emails: Automated for subscribers’ birthdays if provided
- Abandoned cart emails: Sent when someone leaves items in their cart without purchasing
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Testing and Optimization
- A/B Testing: Create two versions of an email to see which performs better. Test subject lines, content, and calls to action to gain insights for future emails.
- Metrics: Assess performance using metrics like open rates, click-through rates, and conversions provided by your ESP.
- Feedback: Occasionally, ask subscribers for feedback on your emails.
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Compliance
Ensure your email marketing complies with relevant laws and regulations, such as GDPR and the CAN-SPAM Act. Key compliance steps include:
- Consent: Obtain explicit consent before sending emails.
- Opt-Out: Provide an easy way for recipients to unsubscribe.
- Privacy Policy: Clearly communicate how you will use subscribers’ data.
With these steps, you can harness the power of email marketing to grow your business effectively in 2024.
