One of the received wisdoms associated with online marketing is “The money is in the list” Google it if you don’t believe me its almost a cliché. The rise of mobile technology has meant that marketers are reappraising the role of email marketing, which had previously fallen somewhat out of vogue. Its email marketing I’m examining with this week’s blog post
What’s the list?
The list which I’m referring to here is the email marketing list which is basically shorthand for you email marketing database which contains the names and email addresses of people who have given you permission to email them.
Segmentation of the email list is a strategy that can dramatically boost the impact of your email marketing. Both
Mailchimp & AWeber support segmentation. Hubspot’s research reported the following results
39% of marketers who segmented their email lists experienced higher open rates, 28% experienced lower unsubscribe rates, and 24% experienced better deliverability and greater revenue.blog.hubspot.com
Segmentation will facilitate more effective targeting of emails. Segmentation means organising your email list along group lines these can be things such as
- Geographical Location
- Purchase history
- job title
Segmentation has a number of benefits such as:
- Improved open rates, more people will actually open your email
- Improved click through rates (CTR) i.e. people clicking on offers or links contained in your emails
- Reduce Unsubscribing one of the main reasons I personally unsubscribe from lists is I feel the content offered is not relevant to me, segmentation reduces the danger of this happening you can offer relevant & interesting content to the people you have targeted
Rather typically for the Internet there are email lists for sale, as with fake twitter /Facebook followers this is NOT a practice I’d recommend, it takes time and effort to build up a mailing list. The trading of lists is against Mail Chimps terms and conditions and could potentially lead to your account being closed, AWeber another bulk emailing solution certainly advise against the trading of email lists on their blog. The big difference between purchased and earned email lists is that people on email lists have given you permission to email them, which is often the trade off for Free e Books offered online, without that permission you would be guilty of being a spammer. This is why the entrepreneur Seth Godin hatched the term Permission marketing which is defined below
Permission marketing is the privilege (not the right) of delivering anticipated, personal and relevant messages to people who actually want to get them. It recognizes the new power of the best consumers to ignore marketing. It realizes that treating people with respect is the best way to earn their attention.sethgodin.typepad.com
Advantages of email marketing
- For the small business email marketing has a number of distinct advantages the low cost being foremost amongst these, the MailChimp plan I use is pay as you go
- email marketing is measurable meaning its easy to see which emails are effective and which are not its easy to implement a/b split testing so email formats & various titles can be compared and contrasted
Email Marketing can be used to develop brand loyalty and trust for your brand
- its easy to offer personalised email messages unlike the “one size fits all” approach of typical printed mail campaigns. Research by eConsultancy in 2015 shows that 78% of email marketers believe that all email marketing will be personalised in the future (source: www.business2community.com)
- Email lists can be segmented so its possible to target emails precisely with some experts suggesting that “batch & Blast” techniques are obsolete, this means not sending everyone on your email list an identical email.
email marketing is perfect for small businesses it offers a cost effective way to raise brand awareness and reach amongst your customers with targeted emails which is a distinct advantage over printed marketing. There does appear to be some disagreement regarding the effectiveness of email marketing. Neil Patel (quicksprout.com) argues “its really easy to make mistakes” so please don’t give up if your email marketing doesn’t immediately give good results.