Email Marketing
Sending emails to prospects and customers is called Email Marketing; it is highly effective digital marketing strategy. Effective marketing emails convert prospects into customers, and turn one-time buyers into loyal, raving fans.
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The Importance of Email Marketing
We’ve covered the biggest question, what is email marketing, but haven’t gotten into why email marketing is so very important for your business. Let’s talk about that now.
Despite the rise of social media and unsolicited spam email (which is never a good marketing strategy, by the way), email remains the most effective way to nurture leads and boost customer loyalty.
There are many reasons you should make email marketing one of your top priorities, but here are the top 3:
1. Email is the #1 communication channel. Did you know that at least 99% of consumers check their email on a daily basis? That can’t be said of any other communication channel.
2. You own your list. On any social media platform, your account (along with all your fans and posts) could be suspended or deleted at any time, for any reason, without notice. However, you own your email list. No one can take those leads away from you.
3. Email just converts better. People who buy products marketed through email spend 138% more than those who do not receive email offers. In fact, email marketing has an ROI (returns on investment) of 4400%. That’s huge! And if you are wondering if social media converts even better, think again: the average order value of an email is at least three times higher than that of social media.
Growing Your Email List
To build an email list you can put an option form on their website and hope that they sign up. Unfortunately, this strategy usually doesn’t work very well.
To grow your email list, you need to attract people with a compelling offer. You need a lead magnet.
A lead magnet (a.k.a. an option bribe) is something awesome that you give away for free in exchange for an email address. It doesn’t have to cost you anything to create; most lead magnets are digital materials like PDFs, MP3 audio files, or videos that you can create yourself at minimal or no cost.
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What Makes a Good Lead Magnet?
You already know that a lead magnet needs to provide value for free. But if you want your lead magnet to be highly effective, here are 5 criteria for you to consider:
1. Easily consumed: Only effective when the audience uses them, so if you deliver a 300-page manifesto, you won’t gain traction.
2. Actionable: To provide an actionable tool, skill set, or useful information that your audience can apply.
3. Creates noticeable improvement: People continue to buy products and services if they work well. Your lead magnet will become successful if it’s as valuable as your products and services.
4. Relevant: If you’ve done your homework about your prospects, you’ll have no trouble coming up with a lead magnet subject that solves problems.
5. Immediately available: Instant gratification is the best way to attract people, so give it to them right then and there.
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