A channel that has always been the oldest means for communication today reigns supreme when it comes to generating marketing ROIs.
They say it right that “old is gold” because, despite newer channels of communication coming in, such as social media and live chat, among others, email is still the Lord of them all.
Smart Insights conducted a survey in 2021 to understand the latest trends in email marketing after the “K-shaped” recovery from the pandemic.
One interesting discovery they made is that this marketing channel is still going to be the most effective for marketers, but the customizations may differ based on the industry.
For instance – While tech providers, digital entertainment service providers, and other e-tailers were increasing focus on personalization, automation, and segmentation, others such as food and beverage companies, traditional retailers, etc., would invest heavily in A/B testing, advanced Analytics, and more.
So, if you’re planning to set up a digital marketing agency that would specifically help its clients drive ROIs via email marketing, now is an ideal time to begin with a business plan and strategy but ensure it aligns well with the demands of 2022.
And since only the right strategy will work as the right solution later, this guide will give you a clear idea of how to build your email marketing business the right way.
Identify Your Clients
The basic principle of email marketing never changes, that is, to send the right message to the right person at the right time.
But to do that, you need to start by finding the right person. Companies with a solid internal digital marketing team will most certainly not need your services.
Then cross out companies or clients that are yet to understand the importance of email marketing. But the latter shows promise if you succeed in convincing the client (which will take work).
When you’re simply starting out, your best customers will be those who may have experimented with this channel of marketing and either failed to succeed or managed to succeed but missed on making the most of their chances.
Since such clients do realize the importance of email marketing but simply lack the time, knowledge, and resources to make it work internally, they should be glad to receive an ad or email from you. For this, you need to start by building a robust B2B email marketing list.
Figure out Your Client’s Pain-Points
Once you have identified your most relevant clients, the next step is to identify their most relevant pain-points. This will help you meet your clients exactly where they are in the buyer’s journey.
Not all your clients will have the same requirements. Some may need you to code emails, some others may need you to write a copy of content, and some may simply want to buy a targeted email list, whilst some others may be in need of developing marketing automation journeys. Unless you identify your clients’ unique needs, you will naturally not be able to cater to them.
Cater to Them the Right Solutions at the Right Time
Only after you’ve pin-pointed the clients’ needs will you be able to offer them the right solutions at the right time. This is only possible when you meet your customers exactly where they are in the sales cycle – Awareness Stage, Consideration Stage, or the Decision-Making Stage.
That way, you will know the sort of content and marketing messages to send across to each decision-maker.
Those in the awareness stage can be offered short blog posts and infographics, those in the consideration stage can be offered whitepapers, case studies, and industry reports, whereas those in the decision-making stage can be offered reinforcing content such as customer testimonials and product demos (if applicable). This way, buyers in every stage will be taken care of.
But for that, you need to ensure that your sales leads are well-segmented as per their position in the sales funnel.
The Right Metrics to Measure Your Email Marketing Business
Simply planning out strategies and executing them is not enough. You need to know exactly where you’re going right and wrong with your email marketing business.
And to know that, you need to measure your marketing performance. This way, you will know whether your business is able to attract the right customers, is able to generate the desired business email database, engage, and convert them, and is able to build customer loyalty even while you’re expanding your customer base.
While the metrics you track may differ a little based on your business’ unique client base and requirements, here are some basic Key Performance Indicators (KPIs) you can track –
- Email open rate – This measures the number of times your email has been opened by the recipient.
- Click-through rate – This metric measures the number of leads that have clicked on a CTA included within the email.
- Conversion rate – This metric measures the number of email recipients who became customers because of the campaign.
- Bounce rate – This metric measures the number of emails that never got delivered to the recipient’s email address.
- Unsubscribe rate – Number of recipients that unsubscribed from your business mailing list.
When All is Said and Done
Now is the ideal time for you to start an email marketing business since the marketing grounds are extremely fertile.
By following the above-mentioned steps to the tee, you should be able to establish a highly successful targeted email marketing business.
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By Miss Stella Simon: She has been a diligent marketing specialist, working with Mail Prospects. During this time, she has helped devise successful multi-channel marketing campaigns, especially those focusing on email marketing. She likes to spend her free time churning out useful and educational B2B email marketing content.