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.
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.
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.
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.
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.
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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.
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.
Lead generation is only the first step in email marketing. You also have to satisfy (or exceed) your subscribers’ expectations with engaging content.
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:
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.
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