You may be new to affiliate marketing or perhaps you are interested in expanding your reach and target market? Over the years, email marketing has proven to be the most cost-effective channel in terms of communicating with your customers, nurturing leads and increasing customer loyalty. Here is some information on how to practice email marketing for your affiliate campaigns.
What can Email Marketing do for your Affiliate Business?
If you find yourself sending out emails promoting your brokers features or referring clients to use certain services and products, then you are email marketing already. The same applies to sending out emails to existing clients and users with updates etc. The beauty of email is that it is fundamentally a communication channel however it is incredibly effective in marketing and soliciting business through these communications.
The intention of marketing emails is to target specific groups and customers with the goal of selling services and products or, in this case, your unique affiliate sign-up links. One of the most vital aspects of this type of marketing is to first build and then increase your customers loyalty, to what you have to offer.
Why can Email Marketing Increase your Sign-ups?
There are many pros to this 50-year-old technology such as the immense reach it can have. 99% percent of users tend to check their email at least once a day, no matter their interest and ability in using the internet.
Moreover, unlike many other social media applications such as Instagram and Facebook, you cannot be deleted, suspended or have your followers/data base taken from you; your email list belongs to you after all.
Another vital point to make, is that email marketing can be very cost effective, if not completely free. This means your return on investment or your ROI can be significantly high with email marketing. With a potential ROI of 4400%, what’s not to like? That’s $44 dollars for every $1 you invest into your email marketing campaigns.
How does Email Marketing Work?
Step 1 – Build and expand your email list:
There are several ways to optimize your email subscribers and grow your list of addresses. These include hiring a service that specializes in marketing via email as well as many options that cost you nothing but time.
- Leverage your website’s landing page.
- Call-to-action buttons via blogs, websites and various other online platforms.
- Social Media campaigns and competitions that require email registration to enter and make use of tagging others as a requisite for entry.
- Giveaways in exchange for email details.
- Attend Trade shows, Fintech conferences and industry events where you have a sign-up sheet.
- Hand out and make excellent use of business cards, perhaps at the same events mentioned in the point above.
As for the content and prizes, this will be up to you and your available resources but it is important to remember ‘lead magnets’ or ‘irresistible offers’ need to be immediately accessible, easy to use and understand and provide a noticeable value.
Step 2 – Categorize your email list:
One of the most vital actions you can take is to segment your email list into particular categories for a more targeted approach. If you are able to provide highly sought-after information to an already established, select group of people you know will benefit the most, then you should naturally have higher email-open rates, click-through rates and subsequently, fewer unsubscribes.
Some factors used to determine your segments include but are not limited to:
- Product purchaser
- Specific page viewer
- Particular ‘lead magnet’ downloader
- Communication preferences
- Specific platform user
- Inactive users
Once you have successfully allocated your email groups you should be able to better target your audience by scheduling automatic emails to go to each group based on the attributes and preferences of said group. You will also be able to create targeted and relevant subject lines, call-to-actions and messages aimed at each specific segmented email list.
Step 3 – Increase open, read and click-through rates:
It would be a shame to put in a lot of hard work, only for your emails to go unopened. Here are a few tips on how to get and keep your readers’ attention and hopefully generate new sign-ups and desired traffic as a result.
- A Bold Subject Line that Really Stands Out
You want to induce curiosity but don’t be too playful, always read the tone of the audience. Eye-catching statistics can be a good tool as well.
- A More Personal Approach
This is important because you don’t want your audience to feel as though you have emailed thousands of people with generic language and vague suggestions. Make sure to thoroughly know your target groups’ buyer persona, values, desires, preferences and problems, in order to personalise your message to them.
- Tailored, Sought-After Content
Once you get your audience to engage with the email, you don’t want to leave them disappointed with the body of your message. Make sure to provide something of real value, that has an effective impact on the reader.
- Avoid Landing in Spam Folders
Be precise with your language and try avoid any triggering words such as ‘sale’ or ‘discount’ as this will automatically land your emails in the spam folder. Researching these trigger words will save you time and energy in the future.
- Keep Your Lists Up-To-Date with Accurate Addresses
People move on from old companies, jobs, schools, locations etc and therefore their email address may become inactive and changed. It is important to check in with your subscribers to ensure you have their up-to-date information in order to market effectively.
Step 4 – Keep Records of Your Metrics:
It is important to keep track of your critical email marketing metrics. This is how you will gage the success of your campaigns and identify certain markers, tools and features that tend to work better than others.
When is the Best Time to Send Emails?
As with everything in life, timing is vital with email marketing. If you manage any social media accounts you are probably aware of how important the time of day is when it comes to maximizing reach and engagement.
Studies have had varying results however it seems there is consensus that Tuesdays have the highest open and click-through rates while Saturday seems to garner more conversions. However, this is only a guideline and offers no guarantees. Our advice would be to study the habits of your target audience in detail and through a mixture of trial-and-error, experimentation and metric-based results, you will discover the most effective times to market.
EagleFX offers 24/7 customer support, as well as, a specialised affiliate department, ready to assist you with queries, marketing materials and advertising ideas.