Every dollar spent on email marketing yields a return of over 40 dollars. It’s one of the best-known digital marketing mantras of the last decade. However, most businesses struggle to make an income from email marketing. Either because of a lack of time, ideas or something else, you probably see nothing close to those 40 dollars per dollar spent on email marketing.
Let’s change that today. Here are some great ways to make more money from your email list.
Segment your lists carefully
Not all of your email subscribers will be interested in the same offer. Instead of sending the same emails to your entire list, segment it according to different criteria. Age, location, past purchases and other relevant criteria. The more personalized the offer, the more likely it is to convert.
For example, we usually segment our lists by the type of organization that receives the emails. We found out that freelancers are a difficult crowd to sell to. This is why we send sales relevant emails to small and large companies, while using completely different personalized emails to target freelancers when selling our proposal software.
Another idea is to segment based on the source of the lead/email. Our personal experience is that leads that come from social media are not that great, so we don’t send them too many emails compared to other audiences.
If you’re looking for segmentation ideas, here is a great list that you can use starting from. In any case, think of personalizing your content to the individual reader as much as possible for the best sales numbers. For example, 39% of marketers in one survey indicated that customer segmentation gave them better open rates, while 28% of marketers had lower unsubscribe rates.
One hard lesson we learned is that you can’t ignore your list for months and then send one email with the purpose to sell. You need to establish a relationship and send emails regularly. That way, if 2 emails out 10 are sent with the explicit purpose to sell, your subscribers will let it slide and some will buy.
One of the best examples of the importance of consistency is when the holiday times come. In 2018, we didn’t pay that much attention to our email list. However, we did have a Black Friday/Christmas sale that we counted on to make a good profit. The problem was, we didn’t build rapport until then and the email campaign flopped.
In 2019, we decided to do things in a smarter way, so we sent out weekly emails two months before the holiday campaign came up. As a result, our sales numbers were more than 30% better last year compared to the year before.
No one likes getting a sales email out of the blue. Make your recipients feel like you’ve known them for a while and then make a move to sell. Of course, as you can see from the image above, make sure that you don’t send emails too often because you’ll do more harm than good.
Always include a CTA
Maybe you don’t want to sell with each email you send. However, that’s not stopping you from getting the recipients to take some kind of action. Include CTAs, several of them, with different kinds of copy and design. If they don’t end up purchasing, the least they should do is land on your website.
The problem with calls to action is that there is no one-size-fits-all solution. You really have to go out of your way to try different designs, copy, placement and the number of CTAs. One thing to keep in mind though, is that even if the purpose of the email is not to sell, you should still include a call to action.
For example, you’re letting your subscriber base know about a new feature that you’re launching. Sure, you’re sending an email to existing customers, but what’s stopping you from upselling them? Include a CTA offering them to upgrade their plan. No matter the occasion for sending the email, don’t miss a chance to get the recipient to take action.
Test your emails before they go out
One of the reasons you can’t sell is because your emails look bad. Before a massive campaign goes out, make sure to send a test email. Look at it from different devices and you’ll ensure that it looks great on all of them and you can revise the copy at the same time.
Most good email marketing campaigns will show you how an email will look on different devices before you send it out, but it’s always a good idea to take a second look before you send something out to thousands of people. You just might unknowingly end your sales emails with “kind retards”. Goodbye sales, hello angry customer emails.
Always split test
Got a sizable list? It’s the ideal situation to test out what works and what doesn’t. Split test everything you can: from subject lines, sender names, email format, design and everything else that comes to your mind. Each email audience is different and it will take some testing to find the format that converts the best.
For example, CampaignMonitor shares their results with one of their campaigns: by split testing subject lines and CTAs, they were able to get a 127% increase in click-through rates. The good (or bad, depending on how you see it) news is that you can split tests practically anything. The bigger your audience is, the more relevant the results because of the sample size.
Get up close and personal
There are tons of articles covering the value of personalization in emails. The truth is, it’s hard to personalize and send a large volume of emails at once. Do what you can do easily: send your emails from one specific sender (the CEO, CMO or some other figure in your company) and address your recipients directly. Don’t send from a faceless company to a faceless mass of recipients.
All of our emails come from the company CEO, no matter the topic. People buy from other people – it’s as simple as that.
If you want to increase sales through email marketing tips, the good news is that it’s not rocket science. Spend some more time on your campaigns, personalize your emails and treat your targeted audience like participants in a conversation, rather than sales targets and you’ll see your dollars invested in marketing strategy multiply by the day.
Petra Odak is a Chief Marketing Officer at Better Proposals, a simple yet incredibly powerful proposal software tool that helps you send high-converting, web-based business proposals in minutes. She’s a solution-oriented marketing enthusiast with more than 5 years of experience in various fields of marketing and project management.