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email marketing

email marketing. Overview . Basic Calculations Building your list Choosing a mailing company Designing an email Mailing frequency List selection and segmentation Specialty emails. Basic Calculations . It’s important to know what your customers are worth

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email marketing

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  1. email marketing

  2. Overview • Basic Calculations • Building your list • Choosing a mailing company • Designing an email • Mailing frequency • List selection and segmentation • Specialty emails

  3. Basic Calculations • It’s important to know what your customers are worth • Customer Life Time Value “CLTV” – see last page for links to calculations • Simple Calculation - Say the average customer buys for 2 years.   Therefore, we define the LifeTime of a customer as 2 years. Over 2 years, the average customer makes 10 purchases. 10 x $2.50 Profit per Unit = $25.00 LTV of the average customer • Once you know what your customers are worth you can start to work on the value of new members • If 10% of your members become customers than the value of a member is 10% of $25 or $2.50 (don’t forget to reduce out the cost of getting them to buy) • Using analytics determine what % of your business is New vs Existing Customers • Existing business varies based on the industry and the products understand your industries retention rate and assess your companies rate vs the industry • Example – Appliances 15% vs Cosmetics 50% • You can spend more to acquire new customers as you increase your CLTV

  4. Building Your List • Buyers – everyone who buys should be added to your email list • Members – membership sign up should be prominent and aggressive • 2 Step Process email ONLY in step one • More data in step 2 but only collect what you really need • Partnership and Business Development – find win / win partnerships where you don’t pay for members – use your products as prizes for another company’s contest and share the data • 3rd Party Data • Once you know the CLTV of a member you can test out 3rd party list rental an co-reg programs - it is important to ALWAYS analyze new members by source – outside sources can be worth 10% of the value of a member on your site Buying Lists - Not an acceptable practice - some lists can be shared but be careful and mindful of the CAN SPAM Laws

  5. Registration Process

  6. Choosing a Mailing Company • If Your List Size is under 5,000 use Constant Contact – it’s self service and easy to use • If Your List Size is over 5,000 decide If you want a full service or a self service company • Self service approx $2 per 1,000 emails sent • Full Service approx $6 per 1,000 emails sent • Rates decrease significantly with monthly volume – mailing volume of 100 million per year can be as cheap as $1.00 per 1,000

  7. Designing an email • Create a Template • Determine what you want to promote and make sure the message is clear • Make sure there is a clear Call to Action • Make sure the design is consistent with your brand and entertaining • Cover the basics – navigation, unsubscribe link and address, footer with company information and all disclaimers • HTML – Pre Header so if viewed on a mobile device with images off the message is still there • Types of emails • Welcome • Promotion • Newsletter • Notification (Final Notice) • Site abandon • Cart Abandon

  8. Terms • Basic I

  9. Before You Send • Come Up With More than One Version of the Promotion – 25 % OFF vs Buy One Get One 50% OFF • Test Multiple Subject Lines • The Difference between a 12% Open Rate and a 15% Open Rate is NOT 3% - it’s 20% • Test in multiple browser settings using the ESP tool for testing • Send yourself a test email

  10. Reading Test Results

  11. Segmentation and Mailing Frequency • Create and Follow a Promotional Schedule • Monitor Open and Click Rates • Open Rates Should Average Above 10% • Click Rates Should Average Above 15% of Opens • Segment Your List and Market to Responders More Frequently • Vary Your email Type if You Mail More than 2x a Week

  12. Terms • Basic Industry Terms • ISP - Internet Service Provider AOL, MSN, Yahoo • ESP – email service provider deliver the email to the ISP • SPAM – unwanted email • Opt In Registration – must check a box to Opt IN • Double Opt In – must check a box and confirm usually via email • Opt Out – automatically signed up must Opt Out to get off of the list • Unsubscribe – ask to be removed from list • Black List – complainer –NEVER Mail even if re-subscribe • CLTV – Customer Life Time Value • Open Rate - % of people who receive an email that open • Click to Open Rate - % of People that Open an email that Click • Click to Sent Rate - % of People that are sent an email that Click • Click through Rate- ask for a definition it can be one of the 2 above • Conversion Rate - % of people that click that make a purchase • Unsubscribe Rate - % of people that are sent an email that unsusbscribe

  13. Helpful Links • CLTV Calculation • http://hbsp.harvard.edu/multimedia/flashtools/cltv/index.html • http://www.jimnovo.com/LTV.htm • http://en.wikipedia.org/wiki/Customer_lifetime_value • Spam Law • http://www.spamlaws.com/federal/can-spam.shtml • http://en.wikipedia.org/wiki/CAN-SPAM_Act_of_2003 • SellUp Blog • http://www.etailsales.blogspot.com/

  14. Questions & Answers • For More Information • visit: • http://www.etailsales.blogspot.com/ • connect: • http://www.linkedin.com/in/allanlevy1 • follow: https://twitter.com/#!/allanlevy1 Allan Levy CEO www.sellup.net allan@sellup.net

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