How To Manage Your List To Optimize Your Marketing Campaigns
Your list is a vital piece of your marketing system. The ROI of email marketing is much higher than other forms of digital marketing. On average, every single email you send is worth roughly $0.10. The same research states that for every $1 you’ll spend, you’ll be getting back about $44 in revenue.
Using these figures, it’s easy to say that a list of 100,000 is worth approximately $10,000. If you send one email per week, that is a total revenue from email of about $520,000. If you want to be performing above expectations, then you want to be spending no more than $11,800 on your email marketing or $227 per email campaign.
Of course these are averages, and different industries have different benchmarks. But one thing that is consistent with all email marketing, is that it is the potential of your list that will determine the ultimate success of your email campaign.
What Do We Mean By the Potential Of The List?
The potential of the list refers to how active your email subscribers are to your email marketing content. Those that are highly engaged and active are worth more money than those that don’t open your emails. By managing your list effectively, you can increase the revenue of your email marketing campaigns.
While managing subscribers is important, so few people actual do it. In fact, most email lists are unsegregated or not even checked for outdated information that raises costs and lowers ROI for campaigns. So here are some of the best tips to help you manage your email list.
1. Remove The Unresponsive Email Subscribers
The first task that should be done on a regular basis is the removal of email subscribers who no longer interact with your content. This is important because those not responding to your emails are only costing you money.
Just removing the contact is the best option. You should send a re-engagement campaign first. This is a series of emails where the person is offered the chance to stay on your email list by clicking on a link in the email. Those that don’t respond to the first two or three emails should be removed from your list.
2. Segregate Email Subscribers
When you have a lot of subscribers, there are going to be different groups nestled within the list. There will be those who are past customers, potential customers and even groups based on purchases (i.e. male clothes, female clothes, etc.). By segregating one large list into lots of smaller lists, you can create campaigns for specific audiences.
Segregation in emails can lead to higher return rates on your campaigns. It can also lower costs of sending campaigns as well as lower unsubscribe rates. One of the main reasons why subscribers leave a list is because they don’t get relevant content, but with segregation you can avoid this.
3. Create Golden Lists
There are going to be subscribers who are reading every email, clicking on every link and perhaps converting on every email. These are the people you want on a golden list. The golden list is a group of email contacts that you give special promotions to, first access information and other luxuries that other people don’t have.
Those on a golden list are more grateful, because they feel special and, therefore, they become bigger brand ambassadors than they already are. This in turn helps you to generate more leads as they share their good fortunes on social media, driving traffic to your website and sign-up pages.
Your email subscription list is a powerful and valuable asset for your business. You can increase the value of your business’ email list by ensuring that you are managing it effectively. Use the tips above to ensure your list is offering you maximum campaign results.
How long do you spend managing your email list? What tips do you have?
Let us know in the comments below.