Inflation is a budget killer. It causes everything to up – your gas, your groceries, your clothes – everything except your purchasing power. Inflation is approaching 9% now, or over 11% by some metrics – levels we haven’t seen in 40 years. And the first thing a business cuts in an inflation? The marketing budget.
Email marketing should NOT be cut. It is the most impactful and cost-effective way to reach new customers, grow your product and increase your conversion rates. It also builds relationships with potential customers. Email marketing generates $36 for every $1 spent, which adds up to a staggering 3,600% ROI.
Ok, now let’s see how you can streamline your email marketing – cut it to the bone and still make a killing.
Write a better subject line. This single line of text determines if your email gets opened or not, and 47% of people surveyed say they open emails based on the subject line alone. Here are some suggestions.
Clean your email list. Data cleansing is the process of deleting corrupt, inaccurate, or obsolete records from a database and then replacing, modifying, or deleting the dirty or coarse data. You should clean it once a month. Drilling your list down saves time and money.
An email list with a high accuracy rate is very important. Email campaigns with high bounce rates and undeliverables are red flags for service providers and your emails might get sent to the spam folder.
Buy an email list that is verified, validated – and segmented so you can target specific categories. a reliable database. A database is an organized collection of data stored and accessed electronically. Email list databases should be up-to-date. Here’s a suggestion.
Spy on your Competition. Let’s not kid around. You need to see what your competition is doing especially in these inflationary times when money is tight, and consumers are watching every penny. Here is a good article on how to spy on your competition: 5 Ways to Spy on Your Competition.
These are a few ways to improve your email marketing and stay ahead during an inflation. For more tips on how to not survive, but thrive during an inflation, click here.