How to build a Revenue Generated Email Marketing Strategy in 2023

How to Build a Revenue-Generated Email Marketing Strategy

Email Marketing strategy is one of the strategies that help businesses reach target customers, increase recognition, build and develop relationships with customers. However, with the rapid development of social media platforms, Email marketing has been increasingly ignored and not used as much as before. So, is Email marketing still effective? Can businesses survive without an Email Marketing strategy? Let’s learn more about Email Marketing strategy with Kounselly!

1. What is Email Marketing strategy?

Email Marketing strategy is a form of marketing that provides customers with information about products through email. Information that can be used for Email Marketing includes information about existing or newly launched services or products, policies provided, or simply a reminder of the list of products that customers are interested in. This form is completely different from Spam Email because the data will be collected when customers leave the information on your website for consultation on the products or notifications. From there, businesses can determine which products and services customers are interested in to send emails.

2. 7 Steps to build an effective Email marketing strategy

To have an effective email marketing strategy, here are 7 important steps businesses need to go through:

2.1. Determine your Email Marketing goal 

The first step of any marketing campaign is to set a goal. To do this, you can apply the SMART criteria (Specific, Measurable, Achievable, Relevant, Time-Bound) to set the goals for your campaign. Example: The goal for your upcoming Email Marketing campaign may be to increase sales by 15% in 3 months. By setting the goal, it will make it easier for you to determine the performance measurement indicators.

2.2. Identify target customer

To reach customers through email marketing, you must first understand who they are in order to build appropriate content. Therefore, you need to answer the following questions: What is the ideal demographic of your customers? Age, location, gender, occupation, and interests? The more you understand your customers, the more successful your email campaign will be. Narrowing down your customers to ensure that you are targeting the right targeted customers and avoiding wasting resources on inappropriate data files.

2.3. Build high-quality customer data 

To achieve the best effectiveness for Email Marketing strategy, building a high-quality customer data file is essential. Businesses can use a variety of methods such as:
  • Existing list from your company
  • CRM database
  • Email collected from social media or your website
Data must be regularly updated to ensure that it is accurate and relevant.

2.4. Divide your list into different sections.

Not all customers have the same needs, so categorizing your customer list into different groups is an important part of a successful email marketing strategy. To do this, think about the differences between your customers. Here are some potential email segmentation methods that you can refer to:
  • Geography: If you’re generating a newsletter based on their languages, you might want to send out several newsletters depending on the location of the people you’re emailing.
  • Demographics: You can tailor the content and subject lines of your emails to appeal to different age groups.
  • Past purchases: If you have a list of people who have purchased specific products from your website, you can send them promotions for similar items.
  • Purchase behavior: You can send out more promotions to people who respond well to them.
  • Interest: If you ask consumers about their interests (for example, in an intake survey), you can send them personalized product recommendations.
  • Email engagement: If you have customers who open your emails regularly, you can send them more frequent emails without worrying about them unsubscribing.

2.5. Create your email

To build an email that helps you achieve your goals, you need to customize the content to attract the attention of your audience. It will be more effective if you create content that is appropriate for your customer list. Finally, include a call to action to encourage people to act. To grab the receiver’s attention to click on your email, the subject line must also be appealing. There are many platforms that offer standard templates that you may try. To impress customers, you should create a suitable visual identity that aligns with the direction and goals of the business.

2.6. Test your email

Because email campaigns are relatively affordable, it’s a good idea to test out multiple versions to figure out which ones are most successful for your organization. When you test, you’ll look at the subject lines, content, CTAs, and other elements to help your business achieve the goals you’ve set. Testing will allow you to improve your email campaign to produce the desired outcomes. A/B testing is one of the simplest methods for testing email marketing messages. A/B testing involves creating different versions of emails in which specific elements are altered. You’ll then compare the outcomes of your various versions to evaluate which ones are the most effective. For example, you may test which subject lines produce the most email opens rate. You could also test different links in different subsets to determine which ones would take your customers to your website.

2.7. Monitor and measure email marketing strategy results

To have an effective strategy, businesses need to track metrics and evaluate them. From there, you can find out if the strategy is performing in relation to your goals. Here are some common areas of analysis:
  • Unique open rate, which will track how many customers open your emails. This is a great way to check how your subject lines are performing and if your emails are relevant to the receivers.
  • Click-through rate, which measures the number of people who click on links in your emails. This helps you to evaluate the effectiveness of your content.
  • Bounce rate, which tracks email server rejections. You may have an ineffective email list if you have a high bounce rate.
  • Unsubscribe rate, which counts the number of persons who have unsubscribed from your emails. It can tell if your emails are spam or if the receivers are uninterested in them.
A/B testing is one of the simplest methods for testing email marketing messages. A/B testing involves creating different versions of emails in which specific elements are altered. You’ll then compare the outcomes of your various versions to evaluate which ones are the most effective. For example, you may test which subject lines produce the most email opens rate. You could also test different links in different subsets to determine which ones would take your customers to your website.

3. 5 Email Marketing Strategies that generate sales

3.1. Personalized email strategy

Email personalization strategies will give you amazing results. According to Invesp, compared to non-personalized promotional email, personalized promotional email has a 29% higher Unique open rate and 41% higher Click-through rate. Additionally, according to an Epson study, 80% of customers are more likely to make a purchase when offered a personalized experience. To do this, building the right data is crucial. However, don’t forget that personalization is more than just mentioning each customer’s name in an email. There are lots of different ways to do this and it’s up to you to check which works best for your mailing list.

3.2. Choose the right time to send emails

Timing is an important factor when it comes to email marketing campaign success rates. In order to improve your open and click rates, you need to choose the timing wisely that works for your customers. There is not a specific time frame for your customers but it will depend on the type of your business. Here is a table of suitable time frames works for different types of business based on Sendinblue study:
Source: Sendinblue

3.3. Give away freebies

Promotional gifts will not only significantly grow the number of subscribers, but can also help you increase your income. The gift here should be something that a lot of people like and are willing to give you their email in exchange for. Freebies such as tools and templates and tools are the most popular with a 26% to 66% click-through rate. However, if you want your email list to grow, you have to comply with the CAN-SPAM Act (Controlling the Assault of Non-Solicited Pornography and Marketing Act). Under the CAN-SPAM Act, when sending an email, it must have the relevant subject line, your commercial email address at the end, and must have the option to unsubscribe from the email list. Therefore, even though your subscribers have provided you with their email in exchange for freebies, you must follow the law as it not only has legal consequences but more importantly is to build trust between your brand and customers.

3.4. Create mobile-friendly Email

No matter how good your email is but if it is not mobile-friendly, the success of your marketing campaign may not be as your expectation. Currently, 80% of Internet users own a mobile phone, so you need to pay attention to designing mobile-friendly emails. No matter where readers check their emails, make sure they always read high-quality ones. Here are some common ways you can do this:
  • Make one-column emails.
  • Put the most crucial part in the center.
  • Have a call-to-action button that is simple to click.
  • Increase the text size.
  • Use small images

3.5. Enhance email deliverability

No matter how good your content is, if it does not reach the inbox, your campaign will not produce good results. If your message goes to the spam folder, the receivers will be likely not to see it and open it. To improve this, you must first make sure to send the correct customer list object. Then, you should use trusted email marketing software and optimize your emails to avoid breaking spam rules. Additionally, choosing the best time to send an email also maximizes your email engagement.

4. The benefits of Email Marketing strategy for businesses

Up to now, there are more than 3.8 billion email users worldwide, and using email will help businesses reach many potential customers. In addition to reaching new customers, email marketing also helps businesses retain old customers. Here are some benefits of email marketing:

4.1. Save money and time

The cost of Email Marketing is much lower than other forms of marketing because businesses don’t have to spend extra money related to printing or communication too much. In addition, Email Marketing will help you save time in finding and classifying customers. Because the customer’s database has been filtered through the funnel via the form on your website. You can easily see what products or services your customers are interested in.

4.2. Target the right customer 

Customer databases in email marketing strategies are often those who actively choose to receive email notifications from businesses. This shows the customer’s interest in the product or service, which will give the business the opportunity to interact more deeply with potential customers.

4.3. Personalize messages and segment customers

In today’s digital age, customers are bombarded with messages from various businesses every day. Therefore, personalization and segmentation are great strategy to capture their attention. By leveraging customer data and personalizing your messages, you can create a lasting impression that sets you apart from the competition and drives business growth.

4.4. Convert and increase sales

When there is a new promotion, businesses can choose many forms of advertising or private communication. However, businesses should incorporate Email Marketing in order to maximize sales and profits. Email Marketing not only helps businesses convert and increase revenue, but it also helps businesses nurture relationships with customers after the transaction, thereby contributing to the creation of a loyal customer database.

See more: What is inbound marketing?

Summary

To have an effective email marketing plan, businesses must understand how to take advantage of the strategy. Multi-platform marketing strategies are crucial to improve brand exposure and conversion rates through Email marketing. If you are seeking consultation from an Email Marketing expert, go to Kounselly to find a suitable expert for your project now!
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