Around 290 billion emails are sent every day while this figure is expected to reach 347 billion by the end of 2022.
Indeed, what worked years ago no longer works. Many strategies have changed, but Email Marketing is a key player among other sales channels strategies.
For the best marketers out there, email marketing is their go-to marketing channel because the return on investment is enormous. I mean for every 1 dollar you spend with email marketing, you get 41 dollars back.
If this is not a stat that will make you think again of this strategy, I don’t know what it is.
Email marketing is essential to build your brand in a cost-effective way. Promoting products, communicating with customers, and reaching business goals is way easier with the old traditional email.
As a result, in 2020 email marketing is one of the most effective ways to grow hack your business and skyrocket your revenue.
Here, we will explore the best email marketing strategies that you can implement to your marketing plan and achieve unprecedented results.
1. Personalize your emails
Personalization is not about sending individual emails to everyone on your list. It’s about using the customer data to create a personalized message and create a better relationship with the current prospect.
Studies found that personalized emails have 6x higher transaction rates.
With email marketing, you can generate $0.08 in revenue for every email you sent.
If this number doesn’t sound like much, think about an email campaign with 500,000 subscribers. All these emails will generate more than 40,000 dollars in revenue.
That’s not bad at all.
With personalization, you can expect even more. To put it into numbers for every 1 dollar you invest, you can have 20 dollars in return.
The best part is that 70% of brands do not use personalization which means that by implementing this strategy you have a great opportunity to get ahead of your competitors.
To achieve this, the simplest way is to address your subscribers by their names.
A lot of email marketing services offer this feature and this tactic alone can improve the performance of your campaign.
Email subject lines that have the recipient’s first name will increase open rates by 16%.
The subject line is the reason why 47% of emails are opened. Take advantage of this sentence and try to make it stand out in the inbox.
Use the customer’s name, here are a few more tips to help you get started with personalization:
To start with the personalization you need to have all the necessary data. Having a great sign-up form, or a landing page that can accumulate all the right information is a crucial part of the process. Great personalization starts before you hit the ‘send’ button.
Data like name, location, and company are elements that will help you increase conversions at a later stage.
2. Segment your list
Marketers worldwide believe that email segmentation should be a top priority this year.
Do you know why they believe so?
It’s because when you segment your list of subscribers, your email campaigns become much more targeted to your audience.
I know it’s annoying to receive an email that invites you to an event on the other side of the world, so stop doing the same thing to your potential customers.
Let’s have a look at how valuable segmentation can be. Research showed that by segmenting your list you get better open rates, transaction rates, leads, and eventually more customers.
You also respect the GDPR rules that apply the last months in the marketing world.
The problem is that requires some effort and the truth is that 9 out of 10 email marketers avoid doing the hard work.
Do you know what that means?
That it is another great strategy that you can leverage to improve the customer experience of your subscribers and build a better rapport with them.
3. Test copy and design
Testing is the only thing that will improve your campaigns. You may believe, for example, that you found the best subject line. If you never test it you can never be sure that is the optimal one.
Testing your landing pages, your home page, your email templates will give you all the crucial data to have the best campaign possible and improve your marketing performance.
Many marketers try to A/B test their email efforts. With A/B testing you can try different elements like the subject line, and send it to a small group of your email list.
Collect the data and see which subject performed better. When you finally have a solid answer, you can continue your testing with the “from” field which has a significant role in the open rates.
Send campaigns from a person’s name or the person plus the name of the company.
Another thing to test would be short vs longer emails. Every topic is different and the ideal length of the copy should change accordingly.
Keep in mind all these in your next campaign and you will see great results if applied correctly.
(Are you confused about how to design your emails? I got you covered with this elaborating resource with 7 things you must do next time you send an email)
4. Automate email campaigns
Automation is essential for the effectiveness of a campaign. Automated emails are emails that are sent out based on the behavior of a user.
The most common types of automated emails are ‘thank you’ emails ‘welcome’ emails, and emails, such as email receipts and order confirmation emails.
The numbers behind automated emails show us that they perform much better than traditional email. They are responsible for as much as 20% of your email marketing revenue and the great news is that only 20% of marketers currently use them.
Here are some ideas of automated emails you can send:
When someone activates an account and they don’t use the product or service, send an automated sequence or email with their login information, a small tutorial with steps on how to get started, and maybe an invitation to a one-on-one meeting to answer additional questions.
When an existing customer approaches the end of his subscription without engagement with the product or service lately, is another great opportunity to have an automated email. Create an informative copy with all the latest features, updates and let them know why they should continue with their subscription. Add a hook like a discount with a due date or a special offer to make it more appealing.
Take into advantage these automated emails, and create more for every different scenario apply to your brand. Special offers on seasonal events are excellent examples that can have a huge impact on the revenue of a company.
Email marketing is here to stay and with all these tips we explored in this article you are ready to excel in this world. Remember that although the return on investment is great, not many marketers put in the work to actually build a strategy like this.
Leverage this opportunity to create a strong plan that will put you on the right track to build an empire. There are many marketers out there that will tell you that SMS marketing, or social media marketing for example can have a better return on investment. For best results in social media marketing you can also try out tools like Twitter marketing tools, LinkedIn marketing tools, etc.
The truth is that although there are a variety of marketing strategies that can increase your revenue, traditional email remains in the number one spot.
I hope you found these tips helpful. Let me know which one you will implement first in your next campaigns and I am waiting for you in the comments section for further discussion.