Every marketer on LinkedIn is telling you how great e-mail marketing is but then you also have people on the other side saying "are e-mails even relevant still??".
In the age of fleeting social media feeds, the humble newsletter really might seem like a relic of the past. But is it time to write off this traditional marketing tool?
Let's dive into the numbers and explore whether newsletters are still worth your time and resources:
The Case for Newsletters
Despite the rise of social media, email newsletters remain a powerful tool for businesses. Here's why:
- High ROI: Email marketing consistently delivers one of the highest returns on investment (ROI) of any marketing channel. Studies have shown that for every $1 spent on email marketing, you can expect an average return of $38.
- Direct Access to Your Audience: Unlike social media, where algorithms can limit your reach, email allows you to directly connect with your subscribers. The question here is how you build this subscriber list.
- Build Relationships: Newsletters are an opportunity to nurture relationships with your audience by providing valuable content and building trust. Ask questions, reply quickly to emails from your subscribers and answer their needs and wants, not just what you think is interesting.
- Lead Generation: Newsletters can be a powerful lead generation tool. By offering exclusive content or gated downloads, you can capture valuable information about your audience. Understand that the people who sign-up to your newsletter are in the most likely mindset to purchase something there and then rather than after being subscribed to you for 6-months never having bought a single item.
Types of Newsletters and Their Effectiveness
- Email Newsletters: The classic format, email newsletters can be delivered directly to subscribers' inboxes. These can be used to share blog posts, company updates, product launches, and promotions.
- LinkedIn Newsletters: A "newer" platform, LinkedIn newsletters allow you to share longer-form content with your professional network. They can be a great way to establish yourself as an industry thought leader.
Key Metrics for Success
To determine the effectiveness of your newsletter, track the following metrics:
- Open Rate: The percentage of subscribers who open your email.
- Click-Through Rate (CTR): The percentage of subscribers who click on links within your email.
- Conversion Rate: The percentage of subscribers who take a desired action, such as making a purchase or signing up for a webinar.
- Unsubscribe Rate: The percentage of subscribers who opt out of your newsletter - maybe they no longer find you relevant or your content interesting. Maybe talk to them and find out why.
Best Practices for Effective Newsletters
- Provide Value: Offer content that is relevant and interesting to your audience.
- Personalization: Tailor your content to specific segments of your audience.
- Consistency: Send newsletters regularly to keep your audience engaged.
- Mobile Optimization: Ensure your newsletters are optimized for mobile devices.
- Clear Call to Action: Tell your readers what you want them to do after reading your newsletter.
Conclusion
While newsletters may not be the silver bullet for every business, they can be a valuable tool when used effectively. By focusing on providing high-quality content, building relationships with your audience, and tracking key metrics, you can maximize the return on your newsletter investment.
So, is creating a newsletter worth it? The answer depends on your specific business goals and audience. However, with careful planning and execution, newsletters can be a powerful tool for driving growth and building brand loyalty and I've personally decided to build up this newsletter here on LinkedIn before launching my own e-mail newsletter on my website.
Would you like to delve deeper into specific newsletter strategies or best practices?
Don't underestimate the power of a well-crafted marketing strategy. As always I'm available for a call at anytime here for FREE!
P.S. Don't forget to follow me on social media for more inspiring content and founder stories!
