Data. You hear it everywhere- but sometimes it can be a little overwhelming, especially if you are just getting your feet wet or don’t know where to begin. This article will take you through the first 2 strategies to turn your email data into dollars.
Strategy 1: Stop and Assess
- This may seem like common knowledge, but the very first step you should take here is to begin with your marketing goals. Goals should clearly state what is the main objective of your work and be realistic, measurable, and broken into channel specifics.
- Assess your email subscribers. Break your subscribers down into different categories: new customers, new leads, and inactive. The way you speak to these groups should be different.
- Evaluating your email data is vital to a strong foundation. What I mean by this is to regularly cleanse your email file to ensure you are avoiding bad email addresses such as spam traps, frequent complainers, disposable, and role accounts. There are several services that offer these types of services, but my favorite is Fresh Address.
- Once your email file is pristine, the last thing you need to do during this stage is look into what your current ESP offers for capabilities. For example: can your provider send dynamic content? How many fields can a record have and do you have the capability to update fields in real time? How detailed is your reporting?
Strategy 2: Segment Your Audience
- Personalization vs Customization vs Segmentation: One of the most important things in this section is to know your terms. We all use words like personalization, segmentation, and customization BUT what do those actually mean?
- Personalization and customization are usually the two that get confused the most. In the end, they both provide the customer with a similar result: a unique product or service based on their individual preferences. However, personalization is done without explicit input from the customer.
- Segmentation is a type of marketing strategy that involves taking a target market and breaking it down into smaller groups based on their perceived interests, common needs, and/or priorities.
- Customization is taking a basic product or service and modifying it so that it fits a single customer’s unique preferences
- Taking the right approach
- The Pyramid Base: Data Collection – The key to both segmenting and personalizing experiences is having robust customer data. The richer your data, the better the understanding of your audience, and the better you can segment and personalize experiences based on that data.
- The Mid-level: Segmentation– Once you’ve collected enough valuable data, you can start analyzing it, looking for interesting correlations between groups.
- The Top Level: Personalization– Real-time, one-to-one personalization can only be achieved if you have enough data, and if you know who your audience is and what your most valuable segments are.
- Where to Start?
- Leverage what you already know about your database to craft messaging
- Common segments most marketers have available:
- Purchase History
- Product Interest
Stay tuned for part 2 of this blog post where I will cover how to engage with your audience and how to convert them.
The EEC is chock full of knowledge in the email world. From deliverability to design to strategy- we have it all. Whether you want to check out our annual conference which is just around the corner — April 24-26 in Savannah; browse some email marketing basics, or become a member; and have coffee with some of the industry’s most coveted email marketing experts- the EEC has a place for everyone.
Jennifer Hoth, Sr Relationship Marketing Strategist at DEG, Linked by Isobar
eec Membership & Marketing Subcommittee