Email newsletters have been around a long time. There’s a simple reason for that: they work. 99% of email users check their inboxes every day (some up to 20X a day!). 58% of consumers check their emails first thing in the morning. So why should your business consider a regular email newsletter? We’ll tell you!
Expertise and Thought Leadership
You know a lot about different aspects of your business and industry. You can talk about issues that are timely or on frequently asked questions that you’d like to elaborate more on. A newsletter allows you to be seen as an authority on a certain subject or set of subjects and this can open up opportunities both locally and elsewhere. It also builds up customer goodwill as people love to learn about things they care about.
Remember too that not everyone buys on first, second, or even third glance. Think about email newsletters as one more part of a drip campaign of consumer education.
As much as you might know about your business and industry, there are plenty of subjects where you might need an assist. That’s where you might feature a vendor, a business, a local resource, etc. An email newsletter isn’t just for your business: it’s a chance for you to share your business’ social capital strategically. On the other side of things, a large and engaged email list is something that is attractive to potential collaborators.
We know businesses who say every time they send an email newsletter they get at least one sale. This often happens when nothing in the email newsletter said anything about the particular service or product that the customer ended up buying. What happened was the email served as a reminder. The email hits the inbox and the customer remembers, “Oh yeah, I need to call them about X.”
While the obvious marketing might be to the customers you already have, the hidden power of an email newsletter is in the “forward” button. Your customers likely know other customers like themselves who don’t yet know you. When those potential customers hear about you via a forward from a trusted friend, they will give it more attention than they would a cold email.
Furthermore, email marketing, unlike many other types of marketing, can be closely tracked by open rate, click-throughs, etc. Given the costs of most email newsletter programs, it’s likely to be among the least expensive types of marketing you do in any sector.
This is to say nothing of what an engaged email list can mean to your business valuation when it comes time to sell. It’s one of those intangible assets that you can’t suddenly build up during a due diligence period. It’s something you have to build over years.
So start now.
Convinced that you need a newsletter but aren’t sure where to start? We know some people who can help you put one together and a plan to send one regularly. Give us a call and we can connect you!