You’ve mastered the basics of email marketing and your list is growing, but you are looking for ways to increase sales generated from your email marketing efforts.
There is plenty of opportunity to grow your business using email marketing, with an average ROI of $38 for each $1 spent.
If you’re not hitting those numbers yet, there are a few straightforward strategies you can use to increase B2B sales using email marketing.
Tip #1 — Use your email list to build relationships and provide value
If you only use your email list to promote offers, your list will quickly fatigue and you will quickly lost subscribers.
No one likes a hard sell. Especially when we are exposed to over 4,000 advertising messages each day.
The solution? Think of email marketing as a long game similar to the in-person sales process. Your goal is to convey “know, like and trust” in your emails. Only then can you go in and ask for the sale.
Always lead with value. One way to do this is with a regular newsletter where you share industry news, best practices and trends. 83% percent of B2B companies use e-newsletters as part of their content marketing program.
Decide on a regular frequency with which to email your list. Luckily, B2B companies overall do not have to email their list as often as B2C companies in order to drive results.
37% of B2B companies email their list 2–3 times per month. Get your marketing team or freelance blogger to set up a schedule for a regular email newsletter.
You will also want to schedule seasonal emails and targeted campaigns for seasonal businesses (ex. Black Friday.)
Tip #2 — Identify your most engaged subscribers
Once you have gotten into a rhythm of regularly emailing your list over a few months, you‘ll have enough information to start personalizing your email strategy.
Your email platform will track information such as which subscribers read a certain email or clicked on a particular link.
This data will help you to identify your most engaged subscribers.
Try sending exclusive content such as a whitepaper or a special discount to only your most engaged subscribers.
You can even take things one step further and send each of your top subscribers a personalized email asking if there is anything you can help them with in their business.
Remember, the overall purpose of your email list is to act as a sales funnel. Through each email message, you are identifying who is most likely to make a purchase from you. By providing this group of subscribers with exclusive content, taking the next step and asking for the sale seems like a natural next step.
Tip #3 — Segment your list
Segmentation is simply the term used for sending tailored content to certain people on your list.
It is easy to overlook content which seems generic, but something personalized can really get your subscribers attention. According to Mailchimp, segmented emails have a 14.31% higher open rate.
Choose a single variable upon which to segment your list. It may a percentage of emails opened, people who clicked a certain link.
Identify what would be most meaningful to the sales process in your particular business.
Once you have chosen your variable, create a sub-list of this group of subscribers. Next, decide what bonus or targeted content you will send to this group.
For example, say you have chosen to segment all the subscribers who have clicked a link to your sales page but did not make a purchase.
Decide what additional content you are going to send. You could send one email a week just to this group sharing testimonials and addressing their objections to making the purchase.
This would be in addition to the regular value-driven content that you are sending out to your subscribers 2–3 times a week.
The main goal of segmentation is to move the most interested prospects on your list closer to making a purchase. So, start simply and choose just one variable upon which to build your first segmented list. You can always experiment with different segments later on as you start seeing results.
Tip #4 — Use email marketing to enhance your overall marketing strategy
According to a 2018 marketing spend report from the Center for Exhibition Industry Research (CEIR), B2B companies are spending over 40% of their marketing budget on business to business exhibition marketing.
In-person relationship building and selling is still a crucial part of B2B marketing, but email can enhance your results even further.
Influence and Co created a campaign in which they shared a detailed pre-conference guide and offered the opportunity for 1:1 outreach prior to the actual conference.
In this case, the conference and in-person interaction is the cornerstone of the sales process. But, by creating a strategic pre-conference email strategy, they were able to start identifying warm leads and provide value to the attendees ahead of the conference itself.
This helps to save time at the actual conference (they would already have a list of the most engaged leads) and to create goodwill for the attendees promoting the event as well organized and value packed.
A few of the strategies you will need in place to get the highest possible ROI from your B2B marketing efforts are:
- Creating a consistent emailing schedule that accounts for seasonal promotions and holidays
- Delivering value focused content that focuses on keeping subscribers engaged and making the sale second
- Segmenting you list as you obtain data about subscriber behavior in order to target your most engaged subscribers and get them closer to making a purchase.
- Incorporating email marketing into your overall marketing plan. For example, using email marketing for pre and post trade show communications.
Overall, email marketing is a cost-effective addition to your B2B marketing plan. Just remember to keep optimizing your strategy to get the highest possible ROI.