Leveraging Email to Grow Your Sales
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Leveraging Email to Grow Your Sales

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Covers ROI of email. Consumer preference for email. Benefits of email. Explanation of permission for email: opt-in vs opt-out. Highlights CAN SPAM rules. Discusses deliverability of emails. Reviews ...

Covers ROI of email. Consumer preference for email. Benefits of email. Explanation of permission for email: opt-in vs opt-out. Highlights CAN SPAM rules. Discusses deliverability of emails. Reviews lead nurturing through email. Explains scoring leads. Gives examples for email content, frequency and recency. Shows email data on timing, open rates, click through rates, device statistics, and subject lines. Details two email case studies.

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  • http://shoutitoutdesign.com/top-10-advantages-of-email-marketing/
  • ,
  • How to setup compliant email? http://www.business.ftc.gov/documents/bus61-can-spam-act-compliance-guide-business; http://www.lsoft.com/resources/optinlaws.asp
  • Scoring leads is depending on the fact that you have a good understanding of your ideal customer profile/persona.
  • Scoring leads is depending on the fact that you have a good understanding of your ideal customer profile/persona.
  • http://mailchimp.com/resources/research/
  • http://offers.hubspot.com/marketing-statistics

Leveraging Email to Grow Your Sales Leveraging Email to Grow Your Sales Presentation Transcript

  • Leveraging Email to Grow Your Sales
  • Direct Marketing Ecosystem Direct Marketing Catalogs & Postal Mail Tele- marketing Text Messaging Email Ads on Mobile Devices Online Advertising
  • Why Focus on Email? $7.25 $8.26 $11.34 $11.37 $12.90 $15.40 $19.71 $22.38 $39.40 $0.00 $10.00 $20.00 $30.00 $40.00 Direct Mail (Catalog) Telemarketing Insert Media Mobile Social Media/Networking Direct Mail (Non-Catalog) Internet Search Internet Display Commercial Email ROI by Direct Marketing Channel Source: Direct Marketing Association, The Power of Direct Marketing, 2011-2012. View slide
  • Consumers Prefer Email Overall 15- 17 18- 24 25- 34 35- 44 45- 54 55- 64 65+ Email 77% 66 74 75 81 79 81 79 Direct mail (letters, catalogs, postcards, etc.) 9% 6 6 6 9 10 14 14 Text messaging (SMS) on cell 5% 10 5 7 4 6 1 0 Facebook 4% 8 7 3 4 3 1 0 Telephone 2% 0 5 3 2 1 1 2 Twitter 1% 4 1 1 0 0 0 0 Mobile App 1% 2 1 1 0 1 0 0 LinkedIn 0% 0 0 1 1 0 0 0 Source: ExactTarget, 2012 Channel Preference Survey, February 2012 Preferred Channel for Permission-Based Promotional Messages View slide
  • More Reasons Email Works Well Reduced Time & Effort: Emails do not take a lot of time to produce relative to other marketing efforts Cost-Effective: Email costs are much lower than other traditional forms of marketing Real-Time Messages: Email messages can be sent immediately to communicate quickly Personalized Messages: Unlike other forms of mass communication, email is addressing each recipient Segmentation of Database: Segmentation allows for highly targeted messages, which are proven to work More Frequent Messages: Due to the easiness and cost- effective nature of sending email, more messages can be sent within a given time frame
  • Establishing Permission to Email Leads/Customers Quantity Quality Opt-Out Only Single Opt-In, Pre-checked Single Opt-In, Unchecked Double Opt-In
  • CAN-SPAM Checklist • Commercial messages used to advertise products or services are regulated by CAN-SPAM • Transaction or relationship-based emails are not Email Type • US laws do not require opt-in methods of acquiring informationPermission (opt-in) • Every message must include opt-out instructions • Sender must honor requests within 10 daysUnsubscribe (opt-out) • Misleading header information is banned: “From”, “To” and routing information must identify person initiating emailSender Identity • Deceptive subject lines are prohibited • Advertisement identification is required Subject Lines/ Labeling • Valid postal address is required Contact Information/ Post Address
  • Deliverability of Emails 78% 4% 18% Inbox Spam Missing Source: Return Path, Email Intelligence Report Placement Benchmarks, 1H 2013 • Complaints (SPAM) • Unsubscribes • Blocked/Blacklisted • Hard Bounce (permanent) • Soft Bounce <5 • Soft Bounce >5 • Sender Reputation (senderscore.com) • User engagement (opens/clicks)
  • Email Touches All Points of the Customer Lifecycle Nurture Prospective Customers (Discover & Explore) • Explain product benefits • Provide social proof (i.e. customer testimonials) • Address barriers to entry: • price • privacy • legalities • Advertise news/events Manage Existing Customers (Buy & Engage) • Upsell and cross-sell products • Solicit referrals • Request testimonials • Survey for: • sales improvements • customer satisfaction • Advertise news/events Discover Explore Buy Engage
  • Email Usage for Prospects – Deep Dive
  • Various Media Sources Paid Media • Print • Radio • Magazines • Outdoor • Banners • Direct Mail • Email List Rental Owned Media • Brochure • Store • Website • Facebook Fan Page • Mobile Apps Earned Media • Word of mouth • Facebook • Twitter • Blogs • Forums • Youtube Readiness to Buy
  • Sales Funnel for Leads Inquiry Marketing Qualified Leads Sales Accepted Leads Sales Qualified Leads $
  • Scoring Leads What is Lead Scoring? Ranking leads based on the interest they show in your business, their current place in the buying cycle and their fit in regards to your business. Types of Lead Scoring: Implicit Explicit Behavior Online body language BANT data (Budget, Authority, Need, Timeline) Demographics Inferred geography, data quality, etc. Demographics – typically collected from form data or data appending
  • Example Behaviors to Score IMPLICIT DATA Emails Opened Opened Multiple Times Clicked Clicked Multiple Times Unsubscribed (negative) Web Pages Viewed product specific page Viewed pricing page Viewed customer reviews Shared via social sharing EXPLICIT DATA Age Purchasing Authority Location Lead Source Website Event Sponsorship Newspaper Household Income Product Interest
  • Turning Leads into Sales Less than 25% of new leads are sales-ready. How do you nurture and close the remaining 75%? Source: Gleanstar Research, December 2010 Gleansight on Lead Nurturing
  • Lead Nurturing What is Lead Nurturing? The process of building relationships with qualified prospects regardless of their timing to buy, with the goal of earning their business when they are ready. Why Focus on Lead Nurturing? Nurtured leads produce, on average, a 20% increase in sales opportunities versus non-nurtured leads. Source: DemandGen Report
  • Determine Email Strategy Using Lead Scores Source: Marketo, The Definitive Guide to Lead Nurturing
  • Email Messaging Changes as Leads Move Down Funnel Help potential customers better understand their problems free whitepapers, guides, videos, checklists Help potential customers solve their problems webinars, case studies, free samples, catalogs, FAQ sheets, spec sheets, brochures Help potential customers choose you free trials, demos, asse ssments, consulta tions, estimates, c oupons Discovery Consideration Decision
  • Email Recency and Frequency Adjusts to Lead Behavior Lead 1 Welcome Email < 1 Day Whitepaper Opened Either Email? 7 Days yes no 3 Days 7 Days Signed Up at Company Event Checklist Personal Email from Sales Rep Lead 2 Welcome Email < 1 Day Brochure 3 Days Personal Email from Sales Rep 1 Day Schedule Demo/Tour Requested Brochure from Website
  • Email Trends and Best Practices
  • ‘Age’ of Lead is Important Source: HubSpot, An Introduction to Email Marketing Capitalize on high engagement when lead is still new
  • Email Timing is Important Source: MailerMailer LLC Most people open email as they start work
  • Email Performance Metrics 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% Q1 2010 Q2 2010 Q3 2010 Q4 2010 Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Open Rate Clickthrough Source: Epsilon and Email Experience Council, Q1 2012 Email Trends and Benchmarks, June 2012 Open Rates are trending up; CTRs are trending down
  • Email Metrics for Prospect and House Lists B2B House File Prospect File Open Rate 21.8% 12.9% Clickthrough Rate 8.6% 7.3% Conversion Rate (median) 1.2% 0.3% Acquisition Cost (mean) - $65.66 ROI (median) $52.50 - B2C House File Prospect File Open Rate 22.9% 11.1% Clickthrough Rate 7.7% 5.3% Conversion Rate (median) 1.5% 0.6% Acquisition Cost (mean) - $39.96 ROI (median) $16.50 - Source: Direct Marketing Association, Response Rate 2012 Report, June 2012
  • Email Subject Lines by Length Source: MailerMailer LLC, 12th Edition Email Marketing Metrics Report, July 2012 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 4-15 16-27 28-39 40-50 51+ Character Length Open Rate CTR Shorter is better
  • Open Rate Share by Device Source: Knotice, Mobile Email Opens Report, April 2012 & Fishbowl, Q2 2013 Desktop 73% Mobile 27% 2012 Desktop 53% Mobile 47% 2013 Optimize for mobile
  • Number of Personal Email Addresses that Users Have 1 28% 2 39% 3 21% 4 6% 5+ 6% Source: BlueHornet, Consumer Views of Email Marketing, April 2012 Are you counting people more than once?
  • Other Email Insights • 88% prefer to receive HTML to 12% who prefer plain text • Click through rate (CTR) is higher when using the recipients first name in the subject line over no use of the first name • Clicks by button text: “Click Here” gets the highest % of clicks over Go and Submit • 65% prefer emails that contain mostly images vs. 35% who prefer mostly text • “Secrets” is the most clicked lead nurturing subject line word Source: HubSpot
  • Email Marketing Case Studies
  • Improve Deliverability Rates (Ecommerce Company) • Business Problem: Messages for yahoo customers, which made up 30% of this company’s entire email list, were not being delivered resulting in lost revenue. • Step 1: Identified & Separated Impacted Email Addresses They pulled the list of all email addresses with yahoo domains (@yahoo, @ymail, @rocketmail, etc) • Step 2: Defined ‘active’ subscribers Knowing that yahoo has strict engagement algorithms for inbox placement, they segmented their yahoo list into inactive and active subscribers (anyone who clicked or opened in last 30 days) and only sent to actives…which was only 8% of all their yahoo names. • Step 3: Slowly added more ‘inactive’ subscribers As the deliverability improved for first group of active customers, they added the next batch of inactives (anyone who clicked or opened within 60 days and then 90 days) all while holding out the inactive members. • Step 4: Created permanent message strategy for Yahoo inactives Once deliverability finally returned to normal, they settled on a new definition of ‘inactive’ for yahoo members specifically, which was more stringent than their other subscriber domains (12 months vs 18 months of no opens or clicks) • Results: Deliverability improved from 70%-92%, which resulted in over $100k+ in recognized revenue
  • Increase Conversion for New Email Members (Family Style Restaurant) • Business Objective: A family style restaurant chain wanted to improve the conversion of new email subscribers into new guests in their restaurants and increase their initial ROI of acquiring that email name. • Step 1: Evaluated Welcome Offer The control welcome offer of a free appetizer was ‘safe’. They wanted to test a richer offer to create more incentive to visit ‘now’. They decided on $15 off two entrees. • Step 2: A/B Tested Offer in Email Promotion They worked with a marketing agency to attract new email members via an email campaign that randomly assigned its email list the control offer (50% ) and the test offer (50% ). • Step 3: Tracked Redemption for Both Offers After the email promotion was sent, the restaurant acquired close to 1k new email members. Interestingly, the same amount of people signed up to the eclub with the control offer as did with the test offer. These results did not hold true in terms of restaurant visits. The test offer - $15 Off 2 Entrées – outperformed the control offer on all performance metrics. • Results: The test offer raised conversion rates by 62% and increased net revenue per email/member by 70%. Total estimated net revenue impact is $280k for every 100k new email names acquired with the new offer.
  • Thanks! ContactInfo: NicoleTabatabai @ntabatabai(twitter) Any Questions?