It's Time To Advance Your Email Marketing
Email marketing has moved on massively in recent years. Gone is the association with spam fritters to real time messages, integrated lead scoring and optimised CRM systems. Yet too many businesses continue to apply batch and blast techniques with their email marketing. The outcomes are that unsubscribe rates will be higher. Open rates lower. Engagement levels reduced. Lower market share. What is more, you will be crossing the line from relevant to irrelevant, losing a potential source of business in the future. And damaging your brand. It may not be what you want to hear. But I know it is true as I have been there.
What is batch and blast?
Batch and blast email communication is where marketing teams send the same message to their entire database, with quantity outweighing quality.
If you are still in the batch and blast phase, there is some good news. Firstly, you are not alone, as this technique is still being used many marketing teams.
The second piece of good news is that if you are reading this, then you will know that you should change this, as you can’t afford to get left behind.
Moving Your Email Marketing Forward
The solution is moving away from batch and blast and going on a journey through segmentation and then one-to-one communication. This needs a small investment of time and thinking.
Doing this will help you cut through the noise that infiltrates the inboxes of financial intermediaries. It will see greater engagement in your messages and your market share rise. And your bosses will be happy.
What is One to One Marketing?
One-to-one marketing isn’t a new concept. In fact, I first came across the term early in my career, way back in the late 90s and I wrote about it in the early 2000s after a bit of inspiration from a Tom Cruise film, Minority Report (where he is subjected to one-to-one adverts in a shopping mall).
Since then, technology has evolved, and this is all a reality now.
This approach helps build relationships and can be measured through clever lead scoring techniques. It is a great way of uniting marketing and sales teams when marketing qualified leads are delivered (MQLs).
Real Time Optimisation
The ultimate goal is to achieve personalisation, which involves sending the right information to the intermediary at the right time (often in real time based on certain interactions with your website, for example). I will talk more about this in a future blog. For now, let’s focus on segmentation, as I would suggest that you start with this as you will learn a lot about your audience in the process which will help create future journeys.
Segmentation is where you create different groups and create different messages for each. The most effective method is needs-based segmentation, but that takes a lot of time and a lot of data to develop. So, a simple way of doing this, as a starting point, is segment based on business volumes, for example. But this is a lot of work, right?
Marketers can be put off going down the segmentation route because they don’t like data and see t
his as more work. But you can always seek help from others in your team or outside of the company because you need to do this. As Thomas Edison said, “Opportunity is missed by most people because it is dressed in overalls and looks like work.”
Don’t miss the opportunities. Move away from batch and blast email marketing.