Email Marketing Strategy: The Complete Guide To More Revenue

You’ve heard it before: the money is in the list. And while that might sound a bit cliché in the world of online business, it still rings true — especially when you look at the power behind an email marketing strategy.

But what most business owners and marketers don’t realize is just how much money is truly in a well-crafted email marketing strategy. It goes far beyond sending out a weekly newsletter or promoting the occasional product.

Table of Contents:

• Why Email Marketing Still Matters in 2023 (And Beyond)
  • Email Marketing Delivers an Excellent ROI
• Elements of a Killer Email Marketing Strategy
  • Define Your Target Audience
  • Craft a Compelling Lead Magnet
  • Optimize Email Deliverability
  • Choose an Email Marketing Service
  • Create High-Quality Content
• Conclusion

Why Email Marketing Still Matters in 2024 (And Beyond)

Here’s something that might surprise you: in today’s age of short-form video content and instant gratification, people still love their inboxes.

In fact, did you know over 4.3 billion people around the globe use email? Yeah, you read that right. Billions.

Think about it. Where do all of those social media notifications go? To your email.

For years now, savvy marketers have been taking advantage of a system most customers don’t even realize they want: direct access.

With email marketing being the third most popular owned-media platform for distributing B2B content, you’re setting yourself (and your revenue) up for major success. Having an effective system for gathering email addresses and following up with valuable messages can drive remarkable results.

Email Marketing Delivers an Excellent ROI

I understand the apprehension about investing time and money into building your email list. Maybe you feel overwhelmed at the idea of segmenting and writing email sequences. Or, maybe you are unsure how to best position your product in a sales email.

But if there’s one marketing lesson worth its weight in gold, it’s the value of email. In 2022, email marketing brought in an estimated $36 for every $1 spent.

Think about that. For every dollar you invest into building your list and crafting a quality email marketing strategy, you have the potential to generate a 36X return. And it’s only growing.

According to experts, email marketing revenue is expected to grow beyond $12 billion by 2024. So yes, an email list is a must in today’s competitive business market.

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Elements of a Killer Email Marketing Strategy

Now that you know why an email list is a game-changer, how do you actually craft a killer email marketing strategy? Several key aspects demand your attention, starting with identifying who you want to attract.

Define Your Target Audience

Think of it this way. Who do you serve through the products or services you sell? For example, if you sell high-end watches, you’re most likely going to have better luck attracting individuals who love watches.

Those are the folks who are going to open your emails because you’ve established a clear path for communication with them: all things watches. The key to an effective email marketing strategy lies in understanding your audience.

Knowing their interests and using personalized emails to drive engagement and generate revenue is crucial for success in email marketing.

Craft a Compelling Lead Magnet

It takes strategic planning. This isn’t about blasting out a bunch of emails into the digital world. With the average professional sending and receiving over 120 emails daily, according to recent data, it’s clear our inboxes are more crowded than ever.

This is why an email marketing strategy that consistently produces results is all about capturing your target audience’s attention. Offer them a powerful incentive — something irresistible to them.

We call this incentive a “lead magnet” or an “ethical bribe,” but it’s basically just something awesome you give away for free in exchange for someone’s email address. Here are a few popular options that can elevate your email marketing efforts:

• Quizzes or assessments.
• Workbooks.
• Downloadable checklists.
• Ebooks.
• Mini-courses.
• Templates or swipe files.

Optimize Email Deliverability

You put in all this effort crafting your lead magnet and growing your list, but then… crickets. What gives? Your email deliverability refers to how easily your email arrives in your subscriber’s primary inbox (rather than that spam folder — you don’t want to be there).

To keep your email deliverability rate high (and your email marketing strategy running smoothly) try these quick tips: using double opt-in can be a good way to improve your deliverability. It ensures that people are genuinely interested in receiving your emails.

Use a reputable email service provider like ActiveCampaign, Aweber, or Lead Recruiter Pro, etc. Clean your list regularly to avoid those high bounce rates.

Create High-Quality Content

I’m not going to sugarcoat it. People today know when they’re being sold to (and conversely when they aren’t). While your email marketing strategy should include a variety of emails, most of what you share needs to provide genuine value for free.

Think tips, valuable information that teaches and informs, personal anecdotes that allow people to feel connected to you (ahem, see what I did there?), and resources that make life easier.

You can also offer discounts, promotions, or even flash sales only for your most loyal subscribers.

Conclusion

In 2024 and beyond, your email marketing strategy could be the difference between barely making ends meet and blowing your revenue goals out of the water. In other words: don’t wait to start building your list.

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