According to Hubspot, email marketing has an ROI of 4,300%. Using a tool like Mailchimp, for many the cost of email will be practically free. It’s an incredible tool that sees a tremendous return on that investment. It doesn’t work though if you are just sending out email after email.
E-mail Marketing is one of the most underrated lead nurturing tools that exists. Few are truly using it and even fewer are using it often enough. When it comes to email marketing you should be doing it more often. It’s one of the most effective forms of communication. Look at Facebook, which is the current hot item in Real Estate, its going more and more down the pay to play route. For the majority of users very few of your fans will ever see what you post. Most are lucky if 5% of “fans" see their post.
Now look at email, instead of 5% you are looking closer to 40-50% of people will open an email. It’s one of the only true 1:1 digital channels that exist which makes it highly personal. With that in mind, every email you send should add value to the person receiving it. It shouldn’t be asking for something, it should come from the perspective of adding value. So sending quick emails that provide value are important. Did mortgage rules recently change? Send a quick email explaining what that means for them and a link to the announcement. It’s short, sweet, and offers them value.
If you want to provide even more value in your emails then its important to segment your email list. It’s not enough to just put everyone onto the same mail list and have everyone receive the same content. Not everyone is in the same situation and they may deem different information of value. If someone is a first time home buyer they have no need for an email related to selling their home. So start segmenting your lists. Put people into lists for buyers, sellers, investors, first time buyers, move up buyers, downsizing, etc… Now you can send them even more relevant and personal emails. The more you do that the better the responses you get will be.
Taken a step further from segmented email lists is behavioural emails. The best email is not only personal and full of value but timely as well. This is where behavioural based emails come into play. The email coming from you will be triggered by actions that the consumer takes. So as an example, they sign up for your mailing list and they get a welcome email. In a couple days they get another email, if they open it they get yet another email. If they don’t open it they get the same email again but with a different subject line to see if they will open it. It can also change what emails they get based on pages of your website that they visit.
The effective use of email marketing can be the best way to nurture and convert leads into business. Any effective online lead generation campaign should have an email marketing component or you’ll find that your conversion rate will suffer greatly.
Important Considerations with email
48% is opened on mobile - With most people reading emails on their phone you need to make sure your message is mobile friendly. Don’t include large images and keep it short and to the point. Don’t include large paragraphs. Break up the text and make it
Its the Top of the Funnel - Just because you have generated al had on your site does it mean they are a hot lead. Getting someones information is just the top of your sales funnel. Now you need to move them down the funnel until they are ready to sign. Email marketing is how you can move them down the funnel.
Open Rate is an Irrelevant Stat - The goals of emails that you are sending should be to generate leads, collect feedback, educate people, or further nurture the lead. Who cares if people just open your email? What if they do nothing at that point? Then its no better than someone ignoring your email completely. Set measurable goals that you can actually connect to new business for you.