5 Tips to Make More Money via Email Marketing
Email marketing is stupidly proclaimed dead by conference speakers year after year. Each year, they’re wrong. Phrasing clients have used email to improve website revenue by as much as 30% year over year. We’re firm believers in the ability of email marketing when used correctly.
Build Email Campaigns That Generate Revenue
We wanted to take a moment here to give you 5 steps that you should take in order to grow the revenue generated from your email campaigns.
“Phrasing clients have used email to improve website revenue by as much as 30%.”
Offer a Discount for Email Sign Ups
Do you know why pop-ups like these are on all of your favorite eCommerce websites recently from Nike to Banana Republic? They work. They increase conversion rates for traffic, especially when you can buy this product elsewhere like Expedia or Amazon.
Our recommendation would be to go 15%+ on your main pop-up. If you want to lower the percentage for specific traffic that comes in, that’s up to you. In our tests, 15% was the threshold for seeing a lift in conversion rates.
Set Up a Welcome Email Gift
Whether they sign up via a pop up, a Facebook Messenger integration, throughout a checkout process, or anywhere else; you need to show people that you appreciate them…and establish a pattern of opening your emails.
To get your first email opened, give them a welcome gift. Typically, we set this up as a “Secret” promotion that only goes out to our newsletter insiders. This little gift has boosted open rates and our initial acquisition value, as well as our customer lifetime values.
If possible, we recommend giving them something that they’ll use with your brand’s logo on it. We like water bottles most but go with what works best. When in doubt, give them a discount. Money in their hands makes people understand.
Get More Leads via Ads
You know what’s typically cheaper than getting a click to your website and then counting on that person to sign up on your website? Getting them to sign up on Facebook. Facebook Lead Ads are a highly effective method of getting new subscribers at below market value.
When setting this up, we recommend starting with website visitor retargeting (negative matching against people who’ve already subscribed) and leading with your welcome offer.
After exhausting our website traffic or when we simply want to expand, we typically go with fans of our pages and friends of our fans with layers of demographic and psychographic filters.
Send Email Newsletters Again
Have you looked at the Promotions section of your Gmail lately? It’s probably full of great offers that you’d love to take advantage of but that number is overwhelming so, you open 3 emails and then clear it out, right? You’re not alone.
Whenever you have a great email campaign that goes out, don’t be afraid to send it again to those that didn’t open it the first time. If you do it right, you should see another great spike in traffic and revenue from the second send.
ALWAYS change the subject line when you do this. This is a chance that your first one didn’t resonate and that’s why you lost out.
Ask Some Questions of Subscribers
Do you know who knows what’s really relevant to your subscribers? Your subscribers. Ask them about what products they like, what is important to them, and why they chose to subscribe.
This is the important part.
Adjust your campaigns based on the responses. Each question should be assigned to tags/segments/groups that you can market to directly. Trying to create campaigns that are always relevant to everybody is nearly impossible. Creating some with broad appeal and others with very specific appeal is the better way to go.
In order to ask these questions, you can use a number of different services. Personally, we like Typeforms as a way of communicating effectively and porting that information over to various CRM platforms.
Bonus Tip: Choose MailChimp
We usually don’t like to play favorites here at Phrasing. We’re typically pretty vendor agnostic. That being said, from a cost-effectiveness standpoint, it’s hard to compete with all that MailChimp offers. Their customer service alone is worth its weight in gold. We love them though because they spend the time to integrate with every technology under the sun and we appreciate that. Our unofficial line when we think about functionality to integrate something with MailChimp is, “There’s a Zap for that.”