Your email list is one of your most valuable digital assets.
No matter what stage you’re at with your luxury email marketing strategy, it’s always good to think of ways to build your list.
If you don’t yet have a list, it’s never too early or late to start one.
In this article, we’ll be exploring some of the main advantages of email marketing as well as sharing some tips on how to grow your list.
Despite frequent speculations about email marketing being “dead” or declining, the actual numbers reveal a different story.
The Direct Marketing Association found that email marketing provides a 122% ROI, much higher than other methods (25% for paid search, 28% for social media).
There are several reasons for this, including the highly targeted nature of an email list and the relatively low cost of this type of marketing.
Naturally, ROI depends on many factors and not all email marketers enjoy the same conversion rates.
We’ll be discussing ways to get the most from your list later. However, it’s important to realize that your email list is a powerful resource that’s hard to match.
Your List is Your Own Property
Email marketing gives you a great deal of control over your digital campaign.
The same cannot be said for most other popular marketing strategies such as SEO, paid advertising, and social media.
The fact is, your list is your own property.
You can send messages to your list whenever you want and you’re not subject to the policies or algorithms of giant companies such as Google or Facebook (provided you don’t violate basic TOS such as spam laws, of course).
While a website is also your digital property, you’re highly dependent on Google and other search engines for visibility.
With social media sites, you rely on Facebook, Twitter, Instagram or other companies to show your content.
When it comes to paid methods, you’re bidding against other advertisers. With AdWords and similar PPC platforms, you have to jump through all kinds of hoops to maintain a good quality score and figure out the optimal keywords to bid on at the right prices.
This isn’t to say that you should avoid other marketing methods. In fact, email marketing actually complements other methods.
It’s worth noting, however, that out of all the major strategies, email marketing gives you the greatest degree of control and independence.
Helps You Build Your Brand
Your email list is a powerful tool for building your brand.
You can create your own unique messages based on your subscribers’ interests.
You can display your logo, use custom templates and include graphics and a layout that appeals to your audience.
Email messages are also perfect for sending traffic to your website, Facebook page, videos, and any other online content.
Easy to Track Analytics
It’s important to track all of your marketing campaigns.
Email campaigns are quite simple to track. Google Analytics, as well as email services and autoresponders (MailChimp, AWeber, GetResponse, etc.), provide tools that let you measure variables such as open rates, click-throughs, and subscriber retention.
How to Grow Your Email List
Along with its many advantages, email marketing also presents certain challenges.
It’s more competitive than ever.
As people’s attention spans get shorter, you have to be more and more diligent about planning your campaigns.
These guidelines will help you grow your list and keep your subscribers engaged.
Target the Right Audience
If you want to build a responsive email list, you have to make sure you’re targeting the right audience.
Make sure you’ve done plenty of demographic research.
Are you addressing the questions and problems that concern your customers?
You have to consider your audience when creating attractive offers (i.e. lead magnets) and for keeping people on your list once they’ve subscribed.
Create an Enticing Offer
Almost every business with a website now includes some type of lead magnet to motivate visitors to sign up for their lists.
In order to compete, you have to come up with a compelling reason. You can use one or more of the following ideas.
- • Address a specific issue. Simply offering a free e-book or report isn’t going to excite anyone. However, if you promise to solve a pressing problem, you’ll capture their interest.
- • Offer a financial incentive. Everyone likes to save money. If you offer a discount, coupon, free sample, or free trial, you give people a good reason to provide their email addresses.
- • Gated or upgraded content. The traditional approach is to offer subscribers a report, e-book, or white paper. An alternative is to make people subscribe in order to finish reading your article. A variation on this is to provide a free article but offer a more comprehensive follow-up or accompanying material (such as a checklist or cheat sheet) if they subscribe. You can increase interest in gated offers by promoting them on social media or with paid ads.
- • Have a highly visible and actionable call-to-action. Make sure your CTA button stands out and makes it clear what people have to do.
Provide Great Content
Lead generation is only the first step in email marketing. You also have to satisfy (or exceed) your subscribers’ expectations with engaging content.
- • Create compelling and relevant subject lines. The subject line of an email is comparable to a blog post’s headline. It determines whether or not someone opens your message. Make sure it’s interesting and provides a good summary of what your message is about.
- • Remember the reciprocity principle. Reciprocity simply means you need to give before you can expect to receive. Make sure your emails provide real value and aren’t just sales pitches. One way to do this is to offer quality information. You can also provide free gifts every so often.
- • Keep messages brief and concise. The longer the email, the greater your chances of losing the prospect. It’s fine to start and conclude with a few pleasantries. However, don’t go into great detail or digress from your main topic in the main section of your message.
- • Create a sense of urgency. You always want to suggest some type of scarcity in your offers, whether in terms of time or supply. You don’t have to do this in an overhyped manner. However, if people think they have unlimited time to think about your offer, they’re likely to put it aside and forget about it.
- • Include multiple calls-to-action. Just as you need a clear CTA in your lead magnets, so you need them in your emails. It’s best to include two or three links in each email. You might, for example, have a CTA button and one or two text links.
Test and Improve
As noted, one of the advantages of email marketing is the ability to track your campaigns.
The more you do this, the better your results will be in the long run.
Split testing is the most precise tool for identifying what is and isn’t working in your campaigns.
Whether you use Google Analytics, a paid tool, or outsource the task to an agency, make sure you test variables such as:
- • Subject lines
- • Layouts
- • Click-Throughs
- • Days and Times – Which give you the best open rates?
- • Call-to-action
- • Landing Pages
Luxury Email Marketing is Alive and Thriving
No matter what new trends and platforms come along, email marketing isn’t showing any signs of dying or even slowing down.
On the contrary, it keeps growing. According to the Email Statistics Report published by The Radicati Group, people will send 281 billion emails daily in 2018 and over 333 billion by 2022!
By building your list and providing your subscribers with helpful content, you have an efficient and cost-effective way to grow your business and engage with your customers.
By: Frank DePino
Frank DePino is Principal and Founder of Mediaboom. Since 2002, Frank has led Mediaboom’s award-winning staff of creative and technical professionals building the most effective marketing and advertising solutions for its clients.