Why Effective Email Marketing Definitely Still Makes Sense!
(Especially If Your Corporate Pockets Aren’t That Deep!)
Surely by now. You’ve also noticed “how” much money major corporations waste on some of their promotions, correct? They’ll gladly fork over upwards of $75,000 dollars or more. In major cities. (In America anyway.)
Just so their dismally performing, outrageously expensive, local billboard ad campaign is plastered all over town. When a much better use of their corporate dollars. Can and definitely should be invested, in some effective email marketing strategies and tactics.
Because let’s all face it already. Digital marketing ad campaigns. The prices on the most popular platforms. They keep going up & up. Do they not? But is your bottom line ROI (Return On Investment) really keeping pace?
Now Is Definitely The Time For Some Common Sense Marketing Strategies And Tactics!
If you or any one you know and truly respect. Has been in any type of on or offline business for a while. They can tell you just “how” easy it is to become upside down financially. Or your margins are so razor thin.
The slightest hiccup in gross revenue. Can and will cause some major hardships, correct? Case in point. And as always. Strictly for hypothetical marketing illustration purposes only.
( But first. Any (by ding episode… on) small business owner or service provider. Who for whatever reasons, still isn’t utilizing strategic email marketing strategies & tactics. They’re pushing themselves closer & closer to insolvency.)
Now back to our exciting episode….
Is Systematically Throwing A Bunch Of Money Into A Promotion! (Really The Best Solution!)
For instance. Let’s say a local franchised, retail furniture concern at least tested, to some degree, the following strategy. They sponsored a free quarterly drawing.
Where once every 90 days. (Give or take.) The 1st grand prize winner. Wins the following. A $20,000 dollar master bedroom & master living room suite.
Plus, a credit for a $7,500 or X dollar luxury cruise credit. (Say what?) This way you know they’ll build a massive opt in email list, correct?
And get this. Every quarter, at least three or X number of 2nd grand prize winners. Automatically win a state of the art, 65 inch flat screen TV.
Which for an extremely limited time. They can purchase for just 25 or X% above the retailers hard cost. But simply for dragging a friend with them whose at least 18. For an extremely limited time. They get to purchase the TV at the retailers actual hard cost. Can you say positive word of mouth & mouse tsunami? 😎
You Or Your Major Competitors Give Your Tribe A Valid Reason! (And They’ll Enthusiastically Help Spread The Word!)
Watch this. (Closely follow this math.) Let’s say after power list building for the last three or X number of years. The retailer now has an impressive opt in email list of 73,863double opt in (confirmed) subscribers.
And in order to keep the math fairly simple. Let’s further say 25,000 have been segmented and indicated indicated. They definitely want to be notified.
Every time there’s a closeout or discontinued sales event of any kind. So the extremely marketing savvy retailers sends this one particular segment of 25,000 or X number of subscribers. A series of emails about an up coming closeout event.
And 61% open the email message. ( 25,000 x .61% = 15,250.) And 43% actually click on the link. (13,240 x .43% – 6,557.50. Conveniently rounded off to 6,557.
And 40 0r X% of them drag a friend to the retailers store(s!) Whose at least 18. (6,557 x .40% = 2,622.) If they had been averaging a Cost Per Lead (CPL) of $525 from their outrageously expensive, local prime time TV & radio ads.
And now, simply by ethically bribing their current subscribers to drag a friend with them. (whose at least 18.) And now they average just $250 dollars per subscriber referral. They saved an impressive $250 per referral. Entrepreneur take a real close look at these numbers.
A savings of $275 per subscriber referral times 2,622 new customers. Equals an impressive front end gross profit/savings of $655,500 dollars! ( $2,622 x $250 dollars = a gross front end savings of $655,500.
If this incredibly brain dead simple, (albeit!) hypothetical example. Hasn’t convinced you totally. Effective email marketing definitely still makes sense. Entrepreneur check your pulse. 😀
Your Bottom Line Will Be Greatly Enhanced! (As Soon As You Or Your Major Competitors Start Embracing And Implementing Strategic Email Marketing!)
P.S. Now as is customary during this part of our show. Please share your extremely valuable comments (in the comments below) that you can apply to your business, product or service in the next 30 days or less!
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