Last month we explored the first of two important digital marketing list subscriber metrics: CPA, the cost to acquire a new list member (see Part 1 here). I also presented a process for determining your maximum allowable CPA – that is, how much it’s worth paying or investing to acquire new subscribers on a name-by-name basis.
This month we’ll explore various approaches to assigning economic value to every subscriber already on your list. Let’s start with the clearest way first: the Revenue-Per-Subscriber method also known as RPS.
I was just paid $16.56 for my email address. You read that right: CVS, the drug and pharmacy chain, paid upwards of $15 to acquire my email address. There I was in my local store buying about $40 worth of health and personal care items when they offered me an instant 20% savings on my purchase in exchange for my email address. So I gave it to the clerk, resulting in a discount of $8.28, which somehow (likely by mistake) was applied twice for a total savings to me (and cost to CVS) of $16.56.
At two recent business events (which did not provide exhibitors and sponsors with attendee lists) I noticed exhibitors actually paying attendees cold hard cash in exchange for their email addresses. Yes, they were handing out the green stuff in a blatant, unmasked trade for data. One business coach offered passers-by $1 for a name and email address and $5 for a completed lead qualification questionnaire. At another event, an exhibiting sponsor held a stack of crisp, fresh dollar bills and asked each visitor if she would like $1 in exchange for her email address. Most attendees cruising the exhibits at these events happily gave up their email addresses and took the money!
Last month we explored how to begin mailing a list of email addresses gathered both with and without explicit permission. You can read about how to handle the “never-been-emailed” list here.
While many email marketers have the best of intentions when it comes to obtaining the clear permission of people they want to email, their inexperience with or reluctance to getting a program started can cause both permission and data to age. But there’s a more serious degree of this problem in which permission is not simply lax or questionable, it is ignored altogether. Hence our conundrum for this month.
photo credit: Rocpoc
It’s probably the number one rookie mistake in advertising and marketing copy writing. It can tank an otherwise exceptional
sales offer to the exact
right audience. It’s guaranteed to bore readers and listeners to death, and it’s a downright sin in direct response.
What is this ill? It is writing or talking about – or to – ourselves rather than our potential and current customers
. In other words, speaking in the language of “me” rather than “you”.
And it's both so pervasive and toxic that it's exactly
why when it comes to much of what you write online – from your email offers to your social media status updates to your product and sales pages – it’s imperative that you answer the question
eternally hovering on the tip of your readers’ tongues: WIIFM?
(What’s In It For Me?)
In other words, that you learn to speak the Language of Results
Creative Commons License photo credit: mscaprikell
In Part 1 of this series
, I explained that marketing is not simply about hawking your wares. Certainly it’s about communicating what you have to offer, but how
you do that is what makes the difference between feast and famine.
Whether we know it and like it or not, most decisions in life are fueled at least in part by emotion, and that goes for buying decisions large and small.
Our brains are equipped with both reasoning and emotional centers, and each factors into decision making. More often than not, people buy from emotion and justify with reason, so it’s important to know how to emotionally connect with them.
In online marketing, making emotional connections is especially important because the digital world is immediate, urgent and can seem highly impersonal
. It doesn’t give us the time or intimacy to know and trust people like face-to-face interactions do. That contributes to a lack of trust (and unfortunately, fraud) online, so allowing people to get to know you digitally goes a long way toward creating the confidence consumers and business people alike need to buy from you in any channel.
photo credit: fiercehugs
If you’re not using your blog sidebar to request email addresses and other communication touch points from your readers you’re missing out on one of the best and most trustworthy avenues for building your list - essential to increasing engagement, loyalty and sales. Here are the three top blog sidebar elements every marketer using email should never be without:
Get New Blog Posts by Email
Assuming you have interesting - if not remarkable! - content on your blog, your readers will be interested in coming back to read more so make it easy for them. A common method that alerts subscribers when you have new posts is RSS (it stands for Really Simple Syndication). Readers can subscribe to your RSS feed and see in their RSS reader when you have a new post. However, many people still don’t use RSS, so give your readers an option to receive new blog posts via email.