Since the early days of the web, email marketing has been a valuable tool to drive business growth. Email marketing campaigns, along with PPC marketing, content marketing, and targeted advertisements, are some of the leading ways insurance companies connect with new customers. In this guide, we will present tips that help supercharge your email marketing campaigns, allowing you to get the best results for your time and budget.
Email Marketing 101
Email marketing campaigns are comprised of developing and distributing promotional messages to others, typically in bulk quantities. Thousands of people may be targeted for a single email “blast”; multiple audiences and multiple messages may be sent with a few clicks of the mouse. Recipients of these messages are those who have signed up for emails, newsletters, and marketing communications from business owners.
Email exists as one of the first forms of digital communication. Despite its longevity in the digital marketing arsenal, email marketing remains as one of the most powerful – and cost-effective – means of connecting with customers. With an estimated return on investment (ROI) of $38 for every dollar spent on an email campaign, nothing else comes close to approaching this form of marketing in cost benefits.
Because over four billion people have access to email, email marketing ranks as the most powerful channel for marketing efforts across industries, even dominating newer tools like social media, affiliate marketing, and pay-per-click (PPC) marketing).
Tip #1: Developing an Email Marketing Strategy with Data
Digital marketers have access to hundreds of data streams, each influencing critical business decisions. Data and analytics are the keys to getting the most from email marketing. This data can provide insight into:
- Effectiveness of individual messages
- Reach of campaigns
- Total number of emails sent
- Open rate (the number of recipients who viewed a given message)
- Click rate (the number of people who responded to a message with another action)
At its best, data can help your insurance business identify specific audiences, then tailor messages to the unique informational needs and preferences of those audiences.
Tip #2: Understanding Your Audiences
Building upon data as a crucial aspect of a successful email marketing campaign, having a thorough understanding of your audiences is the next step. Think about the promotional emails you have received in the past – generic messages simply do not build a connection between you and the sender. Instead, focus on identifying what recipients want to know and share that information in tailored messages. Remember that insurance customers have different needs and varying preferences; customers may be at different stages of life and want information on the insurance products and services for their specific needs. Here, audience segmentation is a prized strategy for boosting engagement. Just like in PPC marketing, different messages for different audiences have the power to build your brand while providing the details a potential customer needs to make a purchasing decision.
Tip #3: Promotional vs. Transactional Emails
In email marketing, there are two primary forms of messaging: promotional emails and transactional emails. Promotional emails are those that inform recipients about new products, special deals, discounts, and incentives for making a purchase. Transactional emails are those triggered by specific actions, such as signing up for a newsletter or making a purchase. These two forms of messaging have different purposes, and it is important to use them both to build stronger relationships between you and your customers. For insurance businesses, promotional emails tend to be more effective in boosting sales by giving potential customers an incentive to make a purchase. Once a purchase or other specific action is taken, the transactional messaging takes over, further cementing the connection between your business and its customers.
Tip #4: Tweaking Your Delivery
With email as an everyday part of life, it should come as no surprise to discover that many people are inundated with dozens – if not hundreds – of emails per day. Unfortunately, some digital marketers often neglect the fact that their email marketing campaigns are contributing to inbox clutter. To get the most from your campaign, it is vital to develop the right distribution frequency for your audiences. A report by a leading digital marketing industry resource indicates that about 40% of marketers send out 0-2 emails a week, while 33% send 3 or more per week.
Which is right for your audiences? That question can be hard to quantify. Instead, focus on developing unique tailored messages to your specific audiences. Then, analyzing data about the open and click rates can help inform decisions about distribution frequency.
Along with PPC marketing, social media marketing, and affiliate links, email marketing is a critical tool for driving your company’s growth. With the tips above, you can get the most from your efforts, positioning your company for success well into the future.
About Neilson Marketing Services
Since 1988, Neilson Marketing Services has been implementing innovative marketing solutions and strategies for our clients in all areas of marketing. Contact us today at (866) 816-1849 to put our talent, expertise, and vast resources to work for you. Let’s make things happen, together!
