Introduction to Email Marketing
Are you familiar with the saying that the money is in the list?
It refers to the idea that we can't control what happens in online marketing, but if we have your email we will always be able to reach out and sell you something.
At the most basic level, entrepreneurs build our list by exchanging something of value (lead magnet) for an email. We then use that email to stay in contact and nurture our relationship. In the best-case scenario, eventually the prospect decides to make a purchase.
It feels like this is a process that has become less and less popular - particularly for new entrepreneurs. They choose to post on social media in an effort to gain followers and build trust. Unfortunately, we don't control those platforms and if we get hacked or otherwise lose access, we have just lost our method of communication with our clients.
This newsletter is a perfect example. When you subscribe that information goes to LinkedIn, not to me. I never see your email and therefore have no way of contacting you outside of this weekly article.
Good for you - no worry about spam.
Bad for me - no way to maintain our relationship outside of this platform.
(Here is an opportunity for you to give me your email address and connect outside of LI.)
Isn’t it better to create something that your ideal client will find immediately helpful and be willing to trade their email for? Yes and No.
A lead magnet that someone chooses to download, because it is relevant to a specific problem they need to solve and will create an immediate connection is a great process. If we provide actionable information that is helpful those prospective clients are already more inclined to trust us. But giving you their email address doesn't necessarily mean they want to hear from you again.
Email campaigns should be part of a larger nurture campaign, not the only method of communication.
Unfortunately, the email campaign has been overrun by spammers. I know several people who have an email address that they only use to give in exchange for something - and never look at that email because they have been overrun with sales and spam in the past.
As an introvert I love email campaigns because they are less intimidating to me. I can still reach tens or hundreds (someday it might be thousands) of people with one click of a button. When I post on LinkedIn or Facebook I don't get that kind of exposure.(except for this newsletter.)
On social media I feel like I need to interact with a meaningful response to everyone who comments on my posts. As an introvert this is exhausting to me.
In my email campaigns, though I regularly invite people to reply to the email and I promise I will personally respond, the number of people that actually do that is pretty small. It takes more effort and as a result I feel like the connection is more effective. I also appreciate that it is more private. I am far more likely to talk about personal things in an email response that only one person is going to read than on FB posts and comments.
If you have been gathering emails, but never actually created an email campaign I encourage you to give it a try. Start with a simple thank you note to everyone who is kind enough to give you their email address. This is a big deal!
Follow up a couple of days later to check in and ask if they have any questions on the document they downloaded in exchange for their email. Be friendly and invite them to reply to your email just to 'test' you and prove there is a real person behind it. In today's world many consumers are familiar with automated emails and assume that there isn't really a person behind that email. Prove them wrong.
Send a third email after that with some additional information on the same topic or to ask if they have other topics they need help with. This is another way to build your reputation with them. The goal is NOT to sell. This is a nurture campaign designed to establish yourself as an expert with helpful information.
This is just one example of a welcome series that anyone can use. It is important to create a series that is specific to your ideal clients. Sending regular communications that are designed to provide helpful information, not just sell a product, will allow you to build trust. Trust leads to sales.
Of course, sending an occasional email that is designed to sell is part of the process.
- Are you having a sale?
- Do you have a new product?
- Did you win an award?
- Are you moving?
These are all good reasons to reach out to your list and let them know what is happening and include a link to your offer.
In general, I have found a ratio of about 5 to 1 the most effective – that is I send about 5 emails to build a relationship and be helpful for every 1 I send to sell a book. This ration may be different for your business, but it is important to send more nurture emails than sales emails or people will opt out of your list.
Another point I want to emphasize is that it is not the size of your list that is important, but the engagement. According to Statista.com the average click through rate is 2.6% worldwide. When you are careful in your email strategy to attract ideal clients that rate can be significantly higher.
I will talk more about this next week.
