Based on what I have written in the previous newsletter, we now know that email marketing continues to play a dominant role in new world marketing and that it can help you build a customer database. But building a customer database is merely one of the things that you can achieve with email marketing.
Today, we are going to explore beyond that and build a list of what email marketing can do for you, your company, products and services.
1. Positioning and Brand Building
With email marketing, you effectively help build on your brand and it is one of the most critical marketing strategies to employ. Since the marketing world is an undeniably crowded one, the only way you can cut through the crowd is to deliver your message DIRECTLY to your potential customers via their email inbox. You need to give them a strong and solid reason to subscribe to your newsletter.
And once you have their permission to reach them directly, you have a SPECIAL PRIVILEGE to talk to them directly, compared to other marketers who are fighting amongst themselves for the attention of the same consumer.
With the special privilege, start building a relationship with those potential customers. Unsurprisingly, this strategy is considered particularly important to consultants because it presents to them a chance to position themselves as experts in their respective industries. The direction connections with the consumers gives you opportunity upon opportunity to convince them over and over again easily.
While taking care not to send too many emails over too short a period of time (take care not to spam them and instead offer them something that you think they might value), you are positioning yourself, products and services to your potential customers.
What you are trying to achieve is to impress the message in their minds. Every time your customers think of a similar product or service, your brand or name will be the first to pop into their minds. Through email marketing, you get to address two of the most important questions: Why Now and Why Me. Most would concede that using email marketing to position oneself is a double-edged sword. It is good when you deliver the right message. But things can turn around and bite you if you deliver the wrong message because…well, let’s face it, readers will know.
2. Building a relationship online
When it comes to online marketing, relationship is everything. Before a purchase is done online, consumers need to have that trust in you. They need to trust your product and have a good impression about the quality of your services.
The fantastic thing about email marketing is that you get to send them email messages consistently by sharing with them testimonies that you have just received, press releases if any and other supporting positive messages that assures them of the fact that your products are widely accepted and you are receiving praise for them and that you have taken steps to ensure quality in your services.
In fact, you can go a step further by producing videos of the manufacturing process of your products and upload them online. Better yet, send them the link so as to give them more confidence so that they know what to expect from your products. Transparency, as you will see, is an incredibly crucial component when it comes to convincing your customers.
Let’s use the process of producing your food products as an example. By transparently showing them the manufacturing process of the end-product, you are effectively telling them that the food is safe for consumption. While there are many other ways to build trust and instill confidence in your customers, email marketing remains to be a very important one.
3. Reduce cost per lead
Large organizations and corporations do this and I recommend that you do this too if you have not – calculate the cost per lead for every single one of your marketing campaign.
Let’s assume that you have printed 10,000 pieces of brochures that you wish to hand out to potential customers and it cost you RM1,000. Assuming that the response rate is 10% (the assumption is on the high side) which means 1,000 people responded to the brochure’s message, this means that you need to spend RM1,000 to get 1,000 responses. The cost per lead in this instance is RM1.00 per lead. Simple math.
And now switching onto email marketing, you can, quite literally, send as many emails as you wish as long as you keep to the rules (mentioned in earlier newsletter) about spamming others. If you hired a designer to come up with a credible-looking design for your newsletter page for RM100, the cost remains that – RM100. Working along the lines of the above assumption, the cost per lead would be RM0.10 per for 1,000 leads.
Email marketing not only saves you cost but also time. What is even ore astounding is the fact that with email marketing, it will cost you nothing extra to have the email forwarded to others. That’s viral marketing with ZERO COST to you.
4. Scheduling
For this, you will need a proper marketing software. The software usually comes with a tool whereby you can schedule the time that you wish for the newsletter to be sent out. Your computer could be off, you could be enjoying a meal with your loved one or you could be sleeping, but the system is running! Your email WILL be sent out on schedule. So, I am effectively saying that you do not need to be sitting right there in front of your computer to send out the emails. In fact, you can schedule them to go out years ahead of time and they WILL be sent out as and when you want them to.
5. Market segmentation
Most email marketing software enables you to categorize your targeted markets. If you are a car dealer or a car showroom owner and you are going to use email marketing as part of your marketing strategy, you can configure the email marketing software to group together local potential customers and separate them from your foreign ones. It enhances the effectiveness of each of your email marketing efforts when you focus on a specific target market. With that, you will invariably see an increase in response rate and sales may also soar.
6. Conducting surveys
Let’s say that you wish to develop a new product and you want to get some feedback from your customers and also your potential customers. For those of you who already does have a huge email database of your customers’ email addresses, there’s nothing to worry about. Since they already ARE your loyal customers, they probably won’t mind sparing some time to give you their feedback. And the result of the survey will also, most probably, be a highly accurate one. The surprising thing is that, generally speaking, most people do not mind sparing some thought on surveys. What more when they already have a very good relationship with you.
7. Measure your marketing campaign’s effectiveness
A proper email marketing software comes with some really amazingly useful tools. You can check the response rate for each newsletter, measure the effectiveness, track every single link that has been clicked on in your email and also work with Google Analytics to achieve your sales goals. Unlike conventional type of advertising, email marketing is very measurable. You can calculate your Return of Investment easily for each of your email marketing campaign.
I am sure data like this will come in handy when you need to make important decisions pertaining to your company and it also helps when you are asking for funding for future email marketing campaigns.
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