One of the biggest problems with email marketing is that it's easy to be mediocre and still achieve decent results and ROI. Over the last decade, sophisticated email marketing technology has become affordable and easy to use for companies of all sizes, budgets and abilities. As a result, even less-than-stellar marketing efforts can produce acceptable results. This paradox is what keeps so many marketers on the hamster wheel of mediocrity. Why put in a lot more effort if you're achieving your minimum goals?
Perhaps it's time to think about data differently. Many companies that I have worked with over the years often cite lack of budget and IT resources as the reason for not doing a better job of managing data. The problem with this way of thinking is that it completely disregards the amount of potential revenue that could be realized through reducing major losses. Here are the areas where companies are hemorrhaging revenue as a result of not focusing on putting their data house in order:
Mistakes happen to all of us, no matter how infallible we believe ourselves to be. Some are big mistakes, some small, some expensive, some of no consequence -- but they are mistakes nonetheless, and we should be learning from each and every one of them. Learning from your mistakes is much easier when you know you are making them. It's the mistakes you don't realize you're making that are the most dangerous, because you continue to make them again and again. The world of email is no different. There are the mistakes marketers know about, which are typically remedied by ...
With all the hype about machine learning, I've been thinking a lot about testing lately. Experimentation should help answer questions for you, not cloud your view, right? I asked a blind question of a variety of retail marketers, technology marketers and "insiders" recently, just to gauge if people are thinking about this opportunity differently now. The question was simple: "What are the three biggest challenges you face in doing any type of testing for email marketing?"
Yes, marketing budgets are tight. However, employee development is no longer optional. It's a "must do" in an increasingly competitive environment where marketing channels, technologies and practices evolve like teenage fashion trends.
My kids have been exploring the world of online gaming, and in a (probably futile) effort to balance the scales, I've been encouraging them to try some educational sites as well. As a result, I've been seeing a lot of daily emails dedicated to getting us to come back and continue interacting with a Web site. Encouraging repeat visitors is tricky stuff at best. Trying to do it daily can be a daunting task. Why? Well, the daily cadence risks more unsubscribes and spam complaints, so each email must do as much as possible to appear helpful and relevant. To ...
It's common knowledge that data is required to send emails. Without a basic database of information - at the minimum, an email address - it's impossible to reach customers. Yet marketers continue to struggle to put data to good use. Sure, the basics are in place to power the sends, but the important pieces of data that could really personalize the experience aren't being harnessed and leveraged. Why is this?
No, this isn't a mermaid story. This is an $18 trillion global spending story. 70%-80% of consumer purchasing is controlled by women. There is a reason why many retailers have shifted their language from share of wallet to share of purse. Women are the gatekeepers to household and discretionary spending, and they don't shop or buy the same way as the other gender.
One thing that keeps email marketers shackled to what I call the "hamster wheel of mediocrity" is not knowing how to manage the leap to greatness. You know you need to move your email program away from relying on broadcast messages and simple segmentation. But achieving a highly automated, dynamic program takes more than buying the right technology. You also have to manage change effectively throughout the process, from buy-in to implementation to long-term success.
A few years ago, I decided to take a close look at my personal finances. I found a lot of ways to reduce costs but the thing that really surprised me was the amount of money I was spending on my morning latte habit. Every day I spent just a little bit on the way to work. Over time, that expense really added up. It is the same with unsubscribes and spam complaints. In any given campaign, you will remove only a very small number of subscribers from your list because they have either unsubscribed or complained about your message ...