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Why Your Email List Is a Goldmine

By: Elite Legacy Education, March 23, 2018

No, email isn’t just for boring corporate correspondence or receiving spam messages. The power of email still exists and should not be underestimated by any means. If used correctly, email can help to build rapport with customers, educate them about your offerings and most importantly, drive conversions. And by using email correctly, we are not referring to the practice of sending an endless supply of promotional discount offers. This channel has so much more to offer, so don’t limit it to this spammy practice. Keep reading to learn how you can optimize your business email communications.

 

Integrating email into your digital sales funnel.

First and foremost, email can be used as a sales channel and should not be forgotten about. This communication channel can play a key role in lead nurturing and customer retention practices––it all comes down to how you integrate it.

Let’s start with lead nurturing. Think about the last time you went into a retail store and a salesperson asked you for the sale on the spot. It can feel a little uncomfortable at times, right? Well it turns out that you can avoid this practice via email. Specifically, you can send a few emails to warm the lead up before asking for the sale. We will discuss more about building rapport with your leads shortly.

As for customer retention, there’s nothing worse than buying something from a company you trust and then never hearing from them again. Typically, this won’t lead to repeat purchases for particular items, which should be an immediate warning sign for you as a business owner. After all, it’s easier to keep a customer than find a new one. Use email to your advantage to follow up on sales and keep past customers engaged until they are ready to purchase again. Continue repeating this cycle to help improve the lifetime value of your customers.

 

It is a low-cost method of communication.

Once you’ve collected an individual’s email address, it is relatively low cost to communicate with them. This is especially true when you compare it to the costs of other direct marketing methods. One strategy we often see used in the collection of email addresses is to offer a free resource in exchange for an email. There are tons of other ways to incorporate email address collection into the operation of your business to use later on as leads. The key is to collect email addresses from visitors even if they do not make a purchase at the time. This way you can nurture these leads and drive sales down the road as we just mentioned.

 

Email is quite generally easy to maintain.

In addition to its low cost characteristics, email is also relatively easy to maintain. It all boils down to automation. Be sure to take advantage of an auto responder series, so you don’t have to worry about scheduling time to send certain emails to particular individuals. The best way to do this is to set up an email funnel which is automatically sent to users at consistent points in time based on their initial sign up. Of course, some emails (particularly customer service) will still require customized emails to respond to different inquiries, but for those that are repetitive you’ll definitely want to take advantage of these tools.

 

Build rapport with your email list through consistent, valuable communication.

Building rapport with your leads is especially important during the lead nurturing stages of your sales funnel. Email provides tons of benefits in this area as you can learn what interests customers, as well as communicate with them consistently. This is in contrast to social media where users may not see every post you make, especially with all of the algorithm changes that control what users on the platform see. Through email, you are able to monitor which emails were viewed and engaged with. The ability to track this will also help you to learn what interests specific subscribers and can assist you in best positioning your offer on an individualized-basis.

 

Take advantage of the personalization allowed by email funnels.

As we just mentioned, you can learn about particular subscribers to best cater your offerings. This makes the email channel a much more personal space for consumers compared to other avenues. You will be able to create highly targeted, customized and personal messages based on what you learn. The key is to engage in a practice called segmentation, which is where you group your subscribers based on certain factors. These factors could be based on your analytics or certain information provided by the initial lead capture form. Luckily, customer relationship management (CRM) software can assist with your segmentation efforts.

 

And of course, be sure to measure all aspects of your email strategy.

Going back to our analytics discussion, you can measure the effectiveness of this channel through various metrics, such as:

  • Open rate
  • Click-through rate
  • Retention of email list subscribers
  • Delivery rates vs. spam/bounce rates

 

Email is no exception when it comes to analytics and optimization. Even if your current email performance is good, why not make it great or even excellent by listening to your analytics?

 

The ultimate challenge––avoiding the spam folder.

We will conclude with a note on the biggest challenge of email marketing. This relates to the goal of avoiding the spam folder. Email service providers are becoming more sophisticated in sorting incoming emails for users, which sometimes results in businesses having their messages land in the spam folder. Of course, if this happens to you then your email marketing efforts will be severely hindered. In the meantime, work on incorporating the tips above and we’ll be back with an article about avoiding the spam folder in your email marketing practices. And remember, your users have trusted you with their emails so don’t misplace this trust and lead them to unsubscribe! Be sure to learn about all the ways Rich Dad Education can help you reach your goals.

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