Managing conflicting demands in email marketing
The title is, as you would have realised, a pleonasm. Managing is all about reconciling.
There is a debate over whether the figures for the last quarter of 2010 show a drop of 0.5% in GDP or if it was static. Either way the news is not good. Whilst for email marketing there had been a rise in value, the report was rather depressing and suggested that times will get a bit tougher in the near future.
The pressure will be on you to see if you can wring any more income from those on your email lists. If you know you can then the first question will be why you have not done so before. For the rest of us it will be whether the risk of alienating subscribers to our emails lists is worth the predicted return. The answer to that is easy enough to discover. A dog could do it.
How did you come by your present decision on frequency of emails? Was it a guess, did you just take over the percentage or perhaps was it experience? Unless it was by recent experimentation it is probably worth finding out if it is currently at the right level.
It is unfortunate that there are no simple answers in email marketing. There are just too many variables. Ballpark figures are available but it is precision that gives top quality returns. Ballparks are big places.
Let us go back to dogs. They habitually push barriers, moving nearer the fire, gazing at their food bowl, getting a little further away when off the lead, each time waiting to be told they have gone too far. They know they will be scolded but it is a small price to pay. Try it yourself.
Take a percentage of your email list. Again the precise figure is down to your circumstances but whatever you go for it should be a statistically significant sample. Whilst many would say that you should not pick and choose which you go for, I would eliminate those who give the best returns, who promise much in the future and any who would be a significant loss to my business. After all, I treat these specially in any case.
If your current frequency of emails is, say, once a calendar month then opt for four-weekly intervals. It might not seem that much of an increase but it does work out to around 8%, something we all would be pleased with.
You should compare the returns from this email list to those on the larger one over a period, perhaps three months. If there is a significant increase then you have been wasting your resources.
There will probably be costs, the most expensive being that some will click the unsubscribe button. Anything that affects your email lists negatively is of concern but see if there is a way to identify those who opted out, obviously before they do. Shuffle similar people onto another email list.
Email marketing software gives the ability to check if you are not getting full value from your email lists. It would be silly not to take advantage of it before others take advantage of you.
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