Jun 1, 2020
When it comes to email marketing, there are several metrics you can measure to determine how well your campaign did.
It’s important to set goals for these metrics which will help you track the progress of your campaigns as well.
If you are someone that has sent email campaigns in the past, this is something you want to look at for prior campaigns and future campaigns and for those of you that haven’t sent anything yet, this is information for when you do.
Inside of your ESP, there should be a place for you to see different metrics from each campaign. You should be able to see how many people unsubscribed, how many emails bounced, how many email in- boxes were full, how many emails were opened, not opened and how many people clicked on the different links you put inside the email campaign.
At the end of this episode I’m going to share one very valuable tip for email marketing.
One of the key indicators of how you're doing with your email marketing is to track and review your unsubscribes. Many people will say it’s how many opens you have, but if people are reading it and unsubscribing, it’s a bigger problem.
If people are unsubscribing, it is usually an indicator of 3 things:
The content you send is important. I spoke about this in episode 47 when I gave the example of an agent in NYC sending emails about drainage problems when most of the people on the list were renters or condo owners. If this agent were to send a lot of email campaigns that weren’t relevant to renters and condo owners, then they’ll lose a lot of subscribers and that is an issue in the long run because your prospect list begins to dwindle, for the wrong reasons.
It’s essential that you send relevant, valuable content and while it might take extra work, it’s also important to tailor it to the audience rather than being too generic.
Another reason why people unsubscribe is that you are sending too much content. You are in their inbox too much and because they really aren’t seeing the value or they aren’t interested any more, they don’t want to see you.
Look at your own email inbox. How many people send you emails every day or every week?
How many of those do you keep and read or just delete? How many do you completely unsubscribe from? What’s your reason for unsubscribing?
Most likely that’s the reason many of the people you send email campaigns to also unsubscribe. I’m a believer that if you evaluate your own behavior, most likely, it’s similar to others as well. That will help you manage your email campaigns.
The last reason people unsubscribe is that they aren’t interested in what you have to offer any longer. This can be tricky. A realtor friend of mine was talking about her email list yesterday and said she gets people that don’t want to see information she is sending out about upcoming listings, but they do want to know about the happy hours or events that she is hosting. (and she and her team have done some very elaborate outings in the past)
One of the ways you can manage this is to put a questionnaire at the unsubscribe box asking questions about why people are unsubscribing and if they still want to get emails related to certain content.
By asking this information and giving people options, it could help to salvage a few unsubscribes.
This also ties to list segmenting which I discussed in episode 47 as well.
If you have an email list that you haven't sent any emails out in awhile, you’ll need to send an introductory email or two and let the reader know what you are doing.
Give them the option to unsubscribe as part of the content that you send.
Doing this helps you to set a baseline for unsubscribes.
Pay attention to your clients unsubscribing as well. If you have clients that unsubscribe and then you send an informational type of email campaign (like Covid-19 specific information) they might not get it because they unsubscribed to your list.
If people do unsubscribe, you need to look at why, but then let them go. Don’t worry about the ones that unsubscribe, just keep working to create better content and reduce the number of unsubscribes.
There’s a few reasons why emails bounce. One is a great marketing opportunity the others are just numbers and there’s not much you can do.
When an email bounces and it’s because the email address is no longer good, it’s a indication that your prospect or client has a new email account. Hence, the marketing opportunity for you because maybe they have a new job or they started their own business or maybe they retired. In some cases it’s going from one email provider like yahoo to another like gmail. Regardless, it’s your opportunity to reach out to them and get the new email address. It’s your opportunity to talk to them and see what changes are taking place in their life. Maybe create a business opportunity for yourself or one of your strategic referral partners.
Other reasons why emails bounce include their inbox is full or they are out of office.
One other reason why they bounce is that the email service provider you are using has been blocked by the company you are sending to. For example, in my CEO roundtables, one of my members is a banker with PNC bank.
When I send emails to his PNC account they always bounce because I use Constant Contact and PNC blocks Constant Contact. If I send the emails to his personal email address, then there isn’t an issue of him receiving them.
Some companies will let their employees white list emails, but not all will allow that, so it’s important to keep an eye on this type of bounce metric as well. It will tell you when you need to get personal emails and not business emails!
NEVER, NEVER, NEVER BUY AN EMAIL LIST.
It’s the easiest way to get reported as spam and if you get reported as spam too many times your email account will be shut down and it is a very expensive proposition to get it back online.
If you haven’t heard of this before, you are probably thinking I’m crazy. Well, hopefully not because I’ve seen this first hand. In the early 2000’s I was involved with an international networking organization. They did monthly events and with each event, there were 3 events. Initially, we were encouraged to build our lists as much as possible.
Personally, I knew better because of my knowledge on email marketing, but not everyone knew the rules. A lot of people just added names without permission and therefore, they were reporting spam.
Well, this international organization was shut down. Everything email was shut down. It took them almost 3 weeks to get back up and running. As a result they implemented strict protocols regarding email addresses, but the damage had been done. Imagine not being able to communicate with clients for 3 weeks because of no email.
Buying an email list is basically buying a list of email addresses that hasn’t given you permission to email them.
Some platforms like Mail Chimp require a double opt in, so that email list you bought and uploaded will have to give permission to have you add them to mail chimp.
Constant Contact flags you if you try to upload too many emails at one time and will contact you to discuss the emails you have before it lets you send to them. If you aren’t truthful about where the names came from and get a lot of spams, you’ll get shut down by them.
It’s not something you want to go through.
While the intent of the CAN SPAM act is to have an opt out feature, it’s also better if you don’t get reported for spam.
And here’s a little side note….did you know that most CGL’s today do not provide coverage for the CAN SPAM act? Initially they did, but that’s been added as an exclusion now! I learned that a few years ago in a CIC update I took! - ok, done with the sidebar, if you aren’t sure, read your carrier’s CGL’s and see what they say about the CAN SPAM act. And if you aren't familiar with the CAN SPAM act, then I’d encourage you to google it and read about it!
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Until next time, keep creating opportunities..
If you are listening to this podcast online and don’t know how to listen to podcasts on your phone, reach out to our host, Debbie DeChambeau and she'll help you.
This episode of the Business of Insurance podcast is produced and hosted by Debbie DeChambeau, CIC, AAI, CPIA - an entrepreneurer, business advisor, insurance professional and content creator. Her goal is to inspire you to think differently and explore ideas that disrupt the status quo.
Debbie has an extensive business and marketing background with a focus of helping insurance professionals be more successful.