How to Start a Profitable Email Newsletter
7 Vital Steps to Email Newsletter Success
Do you wish there was something that keeps your highest profit customers rolling through the door, day after day? There is; email newsletters, if they are done correctly. Email newsletters should be one of your organization’s highest ROI marketing activities. It’s no secret. There are several reasons for this.
- You’re engaging what are historically your MOST PROFITABLE customers.
- You build relationships that build relationships and boost trust.
- Newsletters help position your brand as “the expert” in your market.
- Done correctly, newsletters even help drive qualified, new leads… in addition to the excellent work they do with your existing customers and already-engaged prospects.
Why Newsletters’ ROI is So High
There is a key reason why a newsletter’s ROI is through the roof, no matter what your organization does. Your email newsletter engages existing customers. They have proven to deliver you new business with the lowest sales cost. All sales cost you money. It’s called customer acquisition cost.
This high sales cost is primarily due to 2 factors:
- Prospecting for qualified new leads – This is a time consuming and/or expensive activity, even when done correctly. Making matters worse is that many businesses don’t have an effective, automated sales funnel in place to drive highly qualified new leads to their sales team.
- Discovery and trust building – Those are also time consuming (read expensive). Meetings, emails, and phone calls… all of which may lead nowhere! Working with existing customers eliminates this huge sales expense. It also dramatically shortens your sales cycle, meaning your time to revenue is far lower.
A newsletter builds relationships with your existing customers that keep your brand top of mind when they think about what you do. It doesn’t matter if you’re selling electronic assembly, roofing, commercial real estate or jewelry.
Selling to existing customers costs you less, yet most businesses have no system in place that maximizes sales to these customers.
That’s where an email newsletter comes in.
You know ROI is comprised of 2 factors:
You’ve seen why the return is so high on an email newsletter. There’s a reason why so many highly successful organizations use them. The other part of the equation is investment. Investment on newsletters is relatively low. That, combined with high effectiveness, equals massive ROI.
Step “A” for Your Newsletter – Essential for Success
There is a preliminary first step that vital to your newsletter’s success. Chances are you’ve already done this, but it is so very important: knowing your target audience, what their main pain points are, and how your organization can best help them. Now that you’ve done that, it’s time to start a newsletter that works for you 24/7, building profitable relationships and driving ongoing sales.
The 7 Vital Newsletter Steps
Watch the video below.
It’s only 2 minutes, but will leave you with a much better understanding of the steps required for an email newsletter that really works to drive profitable, new business.
First, check the next section. If you already have a newsletter, it’s one of the most common mistakes we see, and it absolutely kills your newsletter’s effectiveness.
A Key Newsletter Mistake You’re Probably Making Now
“Always Be Selling” While that is one of the movies’ all time great lines, it seems too many marketers follow that advice with their newsletters. First, there are exceptions to this rule. It all goes to what your audience is looking for. That’s why properly defining and knowing your target audience is absolutely key to your success.
Are you delivering promotional emails or a newsletter? Both are highly effective when matched to the right audience. Unfortunately, we often see brands getting this confused.
Here’s the Difference:
- If you’re a restaurant chain who’s subscribers signed up to receive special offers from you, value for this audience means daily specials and promotions.
- If you’re a residential technology contractor, sending out sale prices on TVs and home theater gear delivers you nothing except unsubscribes.
- First of all, this type of business can’t sell on price. You’re a premium service business that happens to sell products. You can not compete with big box retailers or Internet vendors on price. They buy better than you and are likely more efficient as well.
- Second, the end users probably don’t have the expertise to know what products work in their system. That’s why they’ve hired you in the past.
- Third, if you are a residential systems contractor, your customer is not the DIYer, but high net worth individuals who want to pay you to design, provide, and install their system. They are not going to buy a $20,000 – 150,000 system because you sent them a promotional email.
- Your newsletter is designed to do 2 things:
- Deepen the customer relationship and familiarize your customer base with concepts they are likely to buy in the future, so they call or email you.
- Keep your brand in their consciousness, so when something does pop up, you’re their first thought.
- A brick and mortar retailer or Ecommerce store, like one of the 400,000+ Shopify stores now on the web, typically uses a mixture of both promotional and informative posts in their newsletter.
How to Determine Which Works Newsletter Style Works Best for Your Organization
If you have a high transaction value, repeat transaction business, with high transaction complexity, a relationship style newsletter is more effective. For low transaction value, low complexity businesses, a more promotional newsletter style typically works best.
The 7 Newsletter Steps Video
Email Marketing “JOB 1”
For any of the great stuff to happen, there is a vital first step. Your emails must get opened!
That’s NOT rocket science.
On the other hand, getting them opened can be a real head scratcher. In fact, we surveyed thousands of marketers for every kind of business from small consulting firms to major brands. Getting their emails opened was their most pressing email marketing problem.
CLICK HERE NOW and get your free white paper “How to Maximize Email Open Rates in 2017 and Beyond” It’s full of what you need to know to get your emails opened, so you can get all the goodness that follows.
Book a Free Strategy Call Now – Discover how, or if, we can help you drive profits with email newsletters or other email marketing, and if we are a good fit for each other.