How personalized email marketing can improve your ROI-Dramatically
How important is personalization in marketing? Very important. How important is personalization in email marketing- EXTREMELY IMPORTANT. Email marketing delivers the highest ROI among all digital marketing channels and if you are reading this, your surely know that by now. There is something else you need to know too. There are tons of email campaigns that fail. Yes, it is a fact and there are various reasons for the same. Most of these issues are of a technical nature. This means that emails aren’t getting delivered; they are falling prey to SPAM traps and bad data quality. This needs to be addressed nonetheless, but there is one thing that you cannot do much about, and that is convincing the reader to take action. This is of course the end result that we are all looking for while sending out email campaigns isn’t it.
Email marketing is a two way conversation
Billions of emails are sent out every day. The numbers are exaggerating and this leads us to the most stress inducing problem of them all, open rates. Why don’t people open your emails? It’s because you are one of the billion who do not personalize. There is just not enough reason for the reader to click on your CTA and do as you want them to. The average attention span of an online reader is less than 8 seconds. If you are not able to give them a solid reason to act, they will not-end of story. Even big brands fail to understand the power of personalization. It is the best and the most effective manner to connect with a prospect and to create and extend relationships with customers. Everyone likes to be called by their first name and not Sir, Madam, dude and so on.
A study conducted by Experian has thrown up some pretty good numbers about email personalization. Let us begin with the subject line. The research suggested that the unique open rates for emails that personalize subject lines are a big 26%. That is by far, one the best open rates ever.
Email marketing – A study conducted by Experian
The travel industry ranks the highest. Travel marketing companies are the exception when it comes to personalized email marketing. There are wonderful examples of them doing it right. The study also revealed that personalized promotional emails generated transaction rates and revenue per email six times higher than non-personalized emails. These numbers point to one thing and one thing only- It is time you personalized your emails to the maximum!
How to personalize and monetize
There are various methods to personalize your email campaigns. For this, you need good email marketing software, one that allows you to do a lot of the things listed below. You will also need good content that uses this personalization to its best level. Here are some points you need to consider while going about personalizing your email marketing campaigns. Just knowing the first name is not going to cut it.
- Use your database to the fullest- Your database will provide you with a sea of understanding. It is possible to personalize only when your database allows you to do so.
- Segment your datasets- This can be via location, demographic, company, revenue, size, age, gender, income and a lot more. Psychographic segmentation can help too such as interests, hobbies, values and attitudes. These segments will give you an idea of who is doing what and where they are. Timing your emails can be easy if you have this information.
- Identify your target market- This allows you to separate the market that is your potential and narrow down on your prospects rather than batch and blast which we all know can give you sketchy results.
- Personas can be developed- These personas allow you to understand your target market and hence create messages that connect better.
- Analyze the data you already have- There is a wealth of information that you can get from past campaigns. Indentify and segment customers who have responded to your CTAs. Continue and intensify your efforts to contact these customers.
- Inactive customers can be activated- This can be done by sending out a reactivation campaign that gives them certain offers and benefits if they start back up with you. You can also send surveys and understand why they are not active with you.
- Recognize and reward loyal customers- This is how most brands develop fans and lifelong support. Identifying that they are loyal customers in it-self is a good thing.
There are many more ways to customize and optimize your email marketing campaigns. These are the basics. They help you in starting off. If you need to really get into the finer aspects of personalization, you need to understand your industry, the potential market that you want to tap and how receptive they are to personalization. Overkill is also an issue. Do not stalk them on social media and send them wishes on their dogs birthday (Unless you are dog grooming service, then it is a crime if you don’t) – that’s not cool. Find the right balance and strike the right cord with your market.