Reducing Marketing Spends Without Dropping Sales in 2021...
“Email marketing is dead!” if this is what you've heard and believe.
Then this might be the most important page you read today…
A few weeks ago a client of mine came to me with a challenge.
“This pandemic is killing me! I have bills, bills and more bills to pay.
How do I cut my marketing spends without hurting sales?” he challenged me.
I was stumped.
I didn’t have a ready answer — if I cut Ad spends, the orders would fall.
And if I wanted the orders to remain the same, I couldn't cut advertising. Yet…
I didn't want to disappoint him.
Hours turned into days, and days into weeks.
I had almost forgotten about the challenge when I came upon a video…
The speaker was a famous marketing expert.
He had me hooked.
I was blown away by him and his message.
The video taught me a super valuable lesson for
pouring ROCKET FUEL on any marketing campaign.
It Wasn't What I Expected… At All
I thought the answer was going to be something like,
“Focus more on social media groups.” or
“You need to get more referrals.” or
“Make you marketing messages go viral.”
You know, the regular stuff.
Nope. It was none of that.
Actually, it made a lot of sense!”
Here's What I Discovered
- According to Forrester Research 85% of US retailers consider
it one of the most effective customer acquisition tactics.
- For 10 years in a row this channel generated the highest
ROI for marketers. (Source: thedma.org)
- 25% of all sales last year could be attributed to this channel.
- 77% users prefer this channel to social media.
The next day I ran a trial campaign with my tribe using this channel.
And I got more orders than I've had in years!
I only share this with you to let you know that the tip I'm about to give works!
And it works like crazy!!
What Channel Is This?
Here it is… (Drum-roll please)
In the video the presenter was speaking about leveraging, email marketing.
Yep, plain ‘ol email.
If you're still reading this, congratulations.
You'll be rewarded for hanging in there.
The video told me about how effective emails are and
how cost-efficient it is to run email campaigns.
Let me put it simply.
“If social media is a cocktail party, email is the “meet me for coffee.”
The original one-to-one channel.” – Erik Harbison
Think about people in your own life: family, friends, colleagues, acquaintances — everyone.
How many people do you even know who don’t have an email address?
You probably receive a number of emails each week.
You get bills, receipts for your purchases, promotional material, etc.
And you read them, get inspired by them and even look forward to some of them.
And you know why?
Because they work.
Email reaches 3.93 billion users worldwide…
That’s 48% of the world's total population!
This is more than the reach of any network!
He said DMA (Direct Marketing Association) research had found
that it gave a return of $40 for every $1 spend!
This was a winner!
So I Didn't Wait…
I badly wanted the $40 return on every $1 spent! Imagine…
A 4000% return!
I started tinkering with my campaigns.
Whenever I got stuck, I took to the internet and searched for answers.
I Was Obsessed…
I simply HAD to reach the $ 40 ROI mark!
Every week I ran campaigns… moving ahead, but only slowly….
And then, one day… it happened…
Yesterday, I managed to get a ROI of $39.92 per $1 spend!
“It works!” I shouted out to my team, “It really works.”
Here Are 8 Reason Why Emails WORK
1. Sheer Reach
The Radicati Group reports that over 50% of the world's total population uses emails!
No other medium comes close.
And even more shocking is the fact that we send about 196 billion emails daily.
Out of these 196 billion emails the majority, 109 billion, are business emails.
Another advantage with emails is that they can be consumed at leisure.
This isn't possible with any other medium, except printed mails.
2. Consumer Habit
Email is already a big part of our lives. That's good, and I'll tell you why…
Because, like you and me, everybody gets emails.
And that means, the habit of reading emails already exists.
You don't need to create a new habit.
91% of email users check their emails at least once a day. And a more valuable fact is that — an
OptinMonster study revealed 58% of email users check their emails FIRST during any given day.
3. Cost & Returns
It is relatively inexpensive.
Small business owners can reach a large group of potential
customers within a small budget.
Many Email Service Providers (ESPs) even offer free accounts
till your subscriber base reaches a certain level.
After your subscriber base outgrows the free threshold you can still
send email campaigns at very low costs using a service like
Sendgrid (which costs only $0.0006 per message).
Which amounts to 6 cents per 100 emails!
And with possibly a $1 : $40 return, email marketing is truly a unicorn.
4. Quick & Efficient
With emails, you can be up and running within a few minutes.
There's very little production cost and time.
Many ESPs offer ready-made templates for you to get a running start.
You don't need to produce high-quality videos that
you normally do for social media and youtube campaigns.
No need to produce a killer deck for webinars.
Just words and related graphics and you are good to roll-out.
Shout It Out Design estimates that with a
subscriber base of 15,000 users, you tend to spend 152 hours a year.
That's just 25 minutes a day!
It's less than the duration of an office meeting.
And this includes the time required to write, draft, schedule
and send emails and also answering queries,
handling support and complaints tickets.
Emails are also…
5. Personal & Customizable
With emails, it is possible to segment your
target audience into lists and send out tailored messages.
eConsutancy found 74% marketers said targeted
customization increased customers engagement.
A Campaign Monitor study noted 760% increase in revenue
among marketers who used segmented campaigns.
Emails that contained the customer’s name in the subject line
were more likely to be opened, thereby increasing the open rates.
Emails give you a chance to speak to each customer individually,
whereas social media is more of a broadcast medium.
Another study found 74% users preferring emails over social media
because they are permission-based marketing.
6. Drives Action
Everybody is habituated to expect emails.
They open, read, and even click the links in the emails.
They even reply, forward and go ahead and buy through emails.
Email is a two-way communication channel.
You send a message and you get a response.
They are also transactional in nature.
And transactional emails generate upto 8X more opens & clicks.
They generate 6X more revenue according to Experian.
7. Measurable & Refine-able
Want to know what works in your email?
Or want to know if your email can be made better?
It's possible because everything can be tracked.
- You can track:
- how many were delivered
- how many bounced
- how many were opened
- how many times it was opened
- how many were clicked
- which links got clicked
plus… something that isn’t possible on social networks
- who opened the email
Then based on your findings, you can refine the:
- Subject line
- Email body
And see if they can be made to perform even better.
This is also possible because emails are …
Emails are accessed on mobiles phones, too.
This means you reach your prospects anywhere and everywhere.
You reach every single person on your list.
And you know what the best part is?
Unlike social media posts, which are either throttled or
disappear from your feed after some time, emails sit
in the inboxes waiting for the recipients’ attention.
They can read them whenever you want and even do it in parts.
Ok, got it. But…
Aren't Email Open-rates Dropping?
True… over the years email open rates have dropped considerably.
But that's true for all channels of communication.
After the novelty factor wears out, people settle down to a
more reasonable consumption of that channel.
It happened to movies, it happened with television… it happened with the telephone…
it happened with emails… and it happened with social media as well.
In the past it was difficult to know why email open rates were declining.
But with all the email service providers giving you the ability
to track campaigns it's easy to know today.
Open-rates Fall Due To Many Reasons
It’s possible that your email went into the SPAM folder.
It used to be said that if you don't want your emails
to go into the spam folder make them less “spammy”.
Certain words were triggered as spam words and
everyone avoided them.
Even if these words were a genuine fit in the context, they were omitted.
Spam filters searched for these trigger words and
calculated a score for your email depending on how
many such trigger-words your email contained.
If your score was low your email was delivered into
the inbox, otherwise it went into the spam folder.
Today, the filters have become a lot more advanced.
They look at how your email is treated by its recipients
on the whole and then taking these cues decided whether
to classify your email as ‘spam' or allow it into the inbox.
Therefore, if you send emails only based on permission
you avoid this blockade.
Also, using a reputed email service provider to broadcast
your emails helps to a great extent.
You may be sending emails to, either wrong or non-existent
addresses causing them to bounce. A high bounce rate alerts
ISPs to flag your email as SPAM.
Another way is to make sure you provide value to the reader.
Don't send pitches all the time. And build relationships.
These are three basic tactics to ensure good open rates.
If your marketing spends are going through the roof,
it's likely that you haven't leveraged email marketing fully.
If you take the time to learn email marketing the right way,
you’ll IMMEDIATELY increase the power of your own marketing.
Email marketing has the highest potential ROI out of every
other marketing technique, so it makes sense to include it in your marketing mix.
And don’t forget to track your emails with a tool of your
choice so that you can view reports on your campaigns
and fix any mistakes that are lowering the ROI.
What specific tips have you used to boost your deliverability and email ROI?