Email marketing is a tactic that we sometimes use when promoting books, and the results can be very impressive. However, before I go into this subject and the first email campaign I ever conducted for a book— I want to address a particular question— the idea of buying email lists from companies. Is this Wise?
Data from MailChimp, suggests an average of 22.14% of emails associated with the media and publishing industry are opened by consumers. This is an important and trustworthy figure because it was released by MailChimp; a leading figure of data in the world of email marketing. One reason that this figure should be taken seriously is that it comes from a recent report regarding data of millions of emails MailChimp has analyzed. They do, after all, send billions of emails monthly. However, the second reason, and a reason to be noted; MailChimp does not prohibit the selling of email addresses. There are many websites that encourage you to buy their email lists and some go further than just suggesting that purchasing a list of emails will be financially bountiful, but they go as far as to insinuate immediate success. Let’s say you are marketing a book to Christian Readers. You could easily find an email list to purchase from a company who promises to hand over emails of people who would be very interested in Christian books. However, some main questions should be asked:
1. Where did they get this information?
2. Should we believe the source of the list of email addresses?
3. How accurate is the data?
4. If I purchase the same data other people are purcahsing— does this mean that there are multiple people with these email lists?
The list of questions could continuously unwind when the ultimate statement is as follows: ‘Will spending 100 dollars on a 10,000 user email list generate conversion rates?’ Although I have never purchased email lists from these sketchy companies, I did some intensive research on the topic years ago when I was hired for advertising of the first segment of a book on Near Death Experiences. Two years ago I and my team placed a lot of energy into understanding the best way to grow a good email marketing campaign. Although websites offering money in exchange for email addresses and promise a high conversion rate sound lucrative; I could never obtain any proof of this actually working. In other words— it was and is a scam.
What did I do? I initiated a strong email campaign where emails and information were collected from the traffic of the website associated with the project… What happened? I will discuss my results further down. BUT FIRST: SOME IMPORTANT INFORMATION!
Email marketing is a great tactic! Gathering data from users on your website can offer a beneficial return and is an easy way to notify ebook reader’s that you have a new book out or alert them to a sell.
Marketers try to specify the behavior and actions of each user as narrowly as possible. Mailchimp’s segmentation tools help define users by narrowing them into smaller groups (To break down segmentation in complete basics- it means that emails are sent to users based upon the behavior exemplified on a website and the “segmentation” is provided to achieve the maximum results). The statistics show that by targeting consumers in much more accurate and specified format results in 21% higher email open rates and 55% higher click-through rates. The specification can be categorized based on customer behavior (For example what they purchased) Another statistic from MailChimp regarding global statistics dated February 2017 shows that open rates of email are 14.31% higher than non-segmented campaigns. It also states that unique opens (Unique opens means that despite the number of times a particular user clicks on an email, it will only register as a single click. Repetitive clicks from the same number are not associated with the statistics) is 10.64% higher than nonsegmented campaigns. Keep in mind that even presenting the email with the name, subject matter, or friendly greeting can help amplify your email marketing.
It is clear that email marketing can have a large impact in the targeting of users, but the ultimate key is in obtaining the right type of users— The user’s you target have to be invested in your ideas, your subject, and your product. At 4.70%, The Click Through Rate is nearly doubled to all other categories in media and publishing. Therefore, not only does media and publishing hold a large Email Open Rate, but their Click Through Rate is very high.
It should now be clear that email marketing is valauble— it is effective and I hope you have also understood that purchasing email addresses is a waste of money, time, and effort.
What happened when I gathered and targeted people through my first email list? The database of users was nothing to be staggeringly impressed by. In fact, we had just under 50 users. However, the open rate 57.1% and the CTR was 7.1%. This only represents a small number of users because our email list was just beginning to develop, but the conversation rate was very high. The next paragraph suggests why I had great results, and one likely reason these good results would continue.
There is a tactic that I have found beneficial and I will share it in closing with this article. You are likely to get a higher CTR if the person who is signing up with their email list is asked to present their first name on the form. The fact that a user takes the time to fill out their name means they are offering more initiate and more involvement. Sounds ridiculously silly, but it works. Studies report (And I have witnessed this) that this simple requirement might reduce the number of emails you collect but it typically increases the open rate and CTR and in the end; it presents better results.