The email marketing market has experienced its ups and downs in the last decade. However, this does not change the fact that this area of marketing has grown immensely thanks to technology. In the past, the time-consuming building of the database, the inability to measure the effects of newsletters, or system limitations allowing the sending of newsletters at a very slow pace meant that many online stores gave up investing in email marketing. Was it the right decision?
Tool building or outsourcing?
The first question in planning your email marketing campaign should be resource analysis. Sending a newsletter is not a bothersome sending of individual messages. The process must be automated, measurable, and effective. Only a professional tool will allow us to check how many people your mailing reached, how many users opened it, which element they clicked on and how they behaved on the website. You can build the tool yourself, but you need development support for it. The process is complicated, time-consuming, and expensive, but the built tool makes the online store independent of external companies. You can also use the tools available on the market (including SARE, Fresh Mail, or Get Response) that offer access to mechanisms and various billing methods (for one-time sending, monthly access, etc.). Therefore, you should compare the tools available on the market and compare them with the perspective of building your own.
Who to send the newsletter to, i.e. the email database
The form for subscribing to the newsletter can be found on the websites of most online stores. Many businesses encourage users to subscribe, offering them a benefit to start with (discount code, points to use in the store, and many more). Subscribing to the newsletter is often also possible when finalizing the purchase in the store (by selecting the appropriate checkbox in the last step of the order). Some companies also conduct activities aimed solely at expanding the newsletter database using search engine marketing, social media, and dedicated landing pages (learn more). As with the newsletter tool, there are two ways for the base. You can build the database yourself, but you can also buy access to a specific number of email addresses collected with appropriate consent by another company. There are many business partners on the market that you can use to deliver to a group of potential customers with appropriate characteristics and demographics.
Email marketing strategy
Having the tool and the email database, the last question will be: what should the online store communicate to its customers? Good email marketing, like any other advertising activity, should be supported by strategic assumptions. Newsletters without a specific purpose and assumptions will make customers stop being interested in what is happening in the store. Three basic principles of newsletter communication:
#1 A variety of content – do not impose your customers only on discounts and promotions. Think about inspiration and storytelling.
#2 Personalization of messages – address your customers by name, include unique messages with birthday wishes or products saved on the wish list.
#3 Optimization – think about integrating an abandoned shopping cart with auto messages to increase your conversion rate and compare sending days and times to reach your customers at the best time for them.
Email marketing costs money
The building or paying for a tool, a campaign to obtain addresses or access to an existing database, but also the creation of content, integration – all this involves the need to spend a lot of money. Investing in email marketing is a good investment, so it’s a good idea to secure a budget for it in your online store plan. If you want to speed up and make profitable newsletter campaigns now, use Revenue Based Financing (RBF). This is a model created for e-commerce owners. You can apply for a budget for your activities thanks to a simple online store analysis. You pay back a fixed percentage of your monthly revenue, and there is only a small fee of 6% added to the amount you receive.
Your funding starts here: email@example.com