Thank you all for coming here today – I’d like to start off with a quick exercise… Let’s talk briefly about the Three Stooges – who can tell me what you think first when thinking about the Three Stooges.You may be wondering… what’s this young guy doing up there talking about the Three Stooges? He wasn’t even alive when the original shows were on TV in the 1930s through the 1950s! But that’s not really the point here, is it? The point is there is an indirect connection between the Three Stooges and Online Advertising and Marketing… When you first think of the Three Stooges, you think.. ‘comedy…,’ ‘slapstick comedy!’ And you’re right – they were built around the notion of being silly and funny. That’s what their brand is.The point I’m making here is that… even though they were on the air ages ago, they’re still remembered for being hilarious. My dad would tell me stories of when he would be able to watch the show without caption and understand pretty much everything that was going on. In essence, they built a brand.The connection between the Three Stooges and Online Advertising and Marketing is quite simple – you need to have a brand before you can market and advertise your product.Today, we’re not going to talk about the first step of the process – “branding” so to speak. Instead, we’re going to talk about online advertising and marketing. It’s a completely separate ordeal.
I’m going to change gears here and talk about e-mail marketing – it’s the preferred channel for permission-based promotional messages. By this, people prefer to be contacted through e-mail than other forms.The point I’m trying to make here is that companies are underutilizing email marketing – only 39 percent of the top 100 retailers sought digital engagement from in-store customers.
Deaf people don’t have access to email, but may have access to phone… think about the program that has been established to help them (CSD – Project Endeavor – look at their website)… Relevancy for how many people have internet and how many do not?For marketers, email marketing is a target specific initiative where you can target people based on their habits and their needs. You can do this by looking at their purchasing data, their demographics, etc… So if I’m Apple, I’ll send my iPhone users one e-mail and my MacBook Pro e-mails one email – instead of batch and blast, you have targeted segmentation. Email marketing drives immediate action – sales, downloads, inquiries, registrations… you can specifically tell your customers what they should do while reading their email. The great thing is that in email marketing, you can figure out what works and what doesn’t work. You can alter your ‘call to action’ or even your subject line. You can do A/B testing (by sending out two different versions of an email to people) to see which one they respond to. I highly recommend changing only one ‘item’ in your email to keep things consistent. You want to know what has changed, not be confused by the results you are generating.All of these components together support sales, not only before the ‘sale’ but after the sale – customer satisfaction surveys can be sent out. This gives you more insight into what you are doing well and what you may want to improve on. The cycle is cyclical, and it’s a good one.
All of the time and money you spend on email development is worth it – DMA reported a ROI of $40.56 for every $1 invested. Not only this, 40 percent average open rate compared to 4 percent for direct mail. That’s 10 percent higher, and direct mail is extremely more expensive when you take into consideration printing and postage – it’s essentially 20 times more cost effective than direct mail.
Preferred Channel for Permission- based Promotional Messages % Respondents E-mail Direct Mail Text Message Facebook % Respondents Telephone Twitter Mobile App 0 20 40 60 80 100Source: ExactTarget @coreyaxelrod
E-mail Marketing Advantages• Targeted – Tailor messages to address customers’ habits and needs• Drives immediate action – Sales, downloads, inquiries, registrations, etc.• Data-driven – Actionable data to refine approach/messaging• Supports sales through other channels @coreyaxelrod
E-mail Marketing Works • Effective – ROI for 2011 at $40.56 for every $1 invested. – Open Rate • 40% average open rate vs. 4% for direct mail • Affordable – 20 times more cost effective than direct mailSource: Direct Marketing Association @coreyaxelrod
Email Marketing Tips: 1-5• Always get permission• Make it easy to unsubscribe• Keep your copy short and easy to read• Utilize email marketing campaigns instead of ‘newsletters’• Target your subscribers based on interest @coreyaxelrod
Email Marketing Tips: 6-10• Test your emails before delivering• Keep your email list clean• Ask users to add you to contact list• Use more than email to stay in touch• Ask for and use subscribers’ feedback @coreyaxelrod
What did we cover today?• As marketers, e-mail marketing is paramount• An all inclusive strategy generates results• What else should you do? – Learn, experiment and have fun! @coreyaxelrod