Are your Marketing strategies killing sales?
Well, these Email Marketing strategies will get your cash registers ringing!
Amidst all the noise in the B2B Marketing space, what shines like a star is what fuels your business. Email Marketing is one such underrated star in disguise that has proved its worth over and over again.
Making the best first impression is a crucial part of the entire B2B Marketing process. What better than Email marketing can prove this to be true? Several Email Marketing strategies have been at the forefront of the B2B marketing process for quite a while.
So, what differentiates this marketing plan in comparison to the others?
Let’s find out…
The success of Email Marketing in your B2B marketing process depends on the type of business you run and your target customers. A B2B email’s actionable content and presentation play a vital role too. But it doesn’t end there.
Before we embark on the journey to unveil the most effective email marketing strategies, there are a few key factors that make this plan a special one.
- Why should every company have a B2B email marketing campaign?
- Email Marketing Statistics of 2020
So, how’s the B2B concept is connected and applied to email marketing strategies?
Just a reminder — B2B is all about buying and selling products/services to other businesses.
B2B buying decisions are based on logic and how well they showcase their product/service. That’s where it differs from the B2C buying decisions that are primarily based on emotions.
The purchasing decision also depends on what stage of a buyer’s journey is a B2B customer.
Now that we have a clear idea of how the buying decisions in the B2B world are made, it’s time to figure out the reasons WHY is it imperative for every company to implement a dedicated B2B email marketing strategy.
B2B Email Marketing Statistics / Highlights of 2020
You’ll be astounded to know — Email marketing generates a potential return of $44 for every $1 spent. This means an ROI rate of a whopping 4400%.
Here are some facts and statistics based on research findings with regards to Email Marketing statistics from some of the major B2B players provided by Salesforce.com, Hubspot, Statista, and some others.
- Content Marketing Institute experts use metrics like delivery rate (36%), conversion rate (67%), bounce rate (40%), open rate (78%), and click-through rate peaking in the first place with (91%).
- According to the 2018 statistics by Statista, there were 3.8 billion registered email users worldwide. This number is predicted to take a leap to 4.4 billion users in 2023.
- The number of emails sent and received in 2019 will increase from 293 billion emails to 347 billion emails by 2022.
- 78% of marketers have seen a rise in email engagement in 2019.
- 35% of marketers send 3–5 emails per week to their customers.
- 77% of buyers prefer to receive permission-based communications by email.
- 72% of B2B buyers are most likely to share helpful content via email.
- Segmented email campaigns came out to be the most successful. Marketers who used it noticed a 760% boost in revenue.
Isn’t it obvious that B2B email marketing leads to more engagement which generates LEADS?
This, in turn, accelerates your conversion which only means — HUGE PROFITS!
According to Chief Marketer’s 2020 B2B Marketing Outlook Survey, B2B Marketers are using EMAIL, SEARCH and CONTENT MARKETING to find leads generating the highest ROI.
THE BELOW STATS PROVE THAT EMAIL PEAKS IN PRODUCING B2B LEADS WITH THE HIGHEST ROI:
“While blogs and social media are winning larger and larger portions of B2B marketing budgets, email marketing remains an important and cost-effective solution to drive lead generation efforts and build long-lasting relationships with clients. An expertly crafted marketing email can initiate the sales conversation with valuable leads and help you stay connected to your most profitable clients”
So, the verdict is in — The more your company is engaged in email marketing, the more leads you acquire.
If Email Marketing strategies aren’t a part of your inbound marketing toolbox to connect with your clients, then you’re missing out on the big bucks!
Building a base for an Effective Email Marketing Plan
Building a base for a successful email marketing strategy is crucial. You know you’re ready when you have your initial set-ups in place.
Follow these 3 simple steps (Initial set-ups) that can kickstart your B2B email marketing plan.
Wondering what an ESP is? ESP is an Email Service Provider. Choosing the right ESP is one of the crucial steps to get started. What are the benefits? From formatting an email message to include images, links, and custom layout design, an ESP makes it easier for your company to manage your email marketing campaign through its user-friendly online interface.
Three popular ESPs used by B2B companies are:
Mail Chimp: Bagging the #1 position in this list, Mailchimp has won the attention of B2B markets, due to its highly responsive features that include advanced analytics, personalization, and automation. Get started with Mailchimp which allows you to send up to 12,000 emails per month absolutely free if your current subscribers are less than 2000.
Hubspot: Hubspot is a full-service marketing platform and Email marketing is just a small section of it that most B2B marketers vouch for. Their email application features include Lead generation tools, personalization, automation, integrated analytics, content management, etc. Their packages range from $200/per month to $2,400/per month.
Constant Contact: Starting at as little as $15/month, this affordable email marketing platform allows for free coaching and online education programs with some automation.
2. ESP monitoring
Too many chefs spoil the soup. It’s no use just selecting an ESP and working on it if you have no resources dedicated to managing your campaign on this ESP. Get them to learn all aspects of the ESP platform and its functions to achieve maximum benefits.
3. Define your Objectives
Reasoning out with your motives is a great reminder of why you opted for this marketing plan.
Determine which of the following would your company accomplish with this Email Marketing Strategy.
- Educate about your product/service
- Lead generation
- Increase the brand value
Now that you’ve built an ESP and you have the best reasons for opting for this terrific marketing system, we’ll now learn what are Email marketing strategies and how to apply them.
1. Listing e-mail Addresses
Building lists of your prospective clientele is the #1 priority. It all revolves around the distribution list you build.
Unfortunately, a lot of B2B marketers miss out on cleaning up and validating their non-permission-based email list first.
You don’t want to purchase a list that may contain bad email addresses and spam traps.
Tip: When it comes to building lists in Email marketing, it’s wise to avoid any database providers that refuse to provide a sample record from a bulk email list. A large bulk list of emails with a low price tag has may have chances of getting your IP blacklisted along with deliverability issues.
Therefore, it’s best to curate and tag your intended audience with care, and defined objectives that can differ from client to client.
Being specific and narrowing down your audience type is the most important part of the Email Marketing plan. In a nutshell, define your readers and ask yourself, who are you addressing? Are they purchase influencers or the sales team?
The main objective of segmentation is to engage with the most loyal business clients.
Segment your audiences into specific marketing groups based on:
- Marketing firmographics (Business size, industry, company location, the technologies used, etc.)
- The buyer’s journey
- Their business pain points and challenges
- Tiering (How much the customer can potentially bring in terms of value)
Targeting a group and segmenting is especially important to attract them with special offers, event announcements, or relevant blog posts.
3. Lead Nurturing
Compared to B2C or other industries, B2B companies have a longer sales cycle. Lead nurturing is the act of offering solutions to prospects who have been a part of your sales cycle before. Answering the most crucial elements about your product/service, the benefits they would enjoy, and offering tips and free giveaways will lead these prospects to those prospects through each step of the sales cycle.
Lead Nurturing involves sending a series of emails that are specifically designed to get people who are on the fence to be interested in your business. This is an effective strategy to persuade your prospect on a weekly, monthly, or yearly basis. This is a great way to keep potential clients coming back for more. These are the leads that are just waiting to be pushed in the right direction. All you need to do is, get them to take the action!
In terms of lead generation, nearly 87% of B2B marketers use email marketing to generate new leads. Close to 31% of B2B marketers cite email marketing as the channel that impacts revenue big time!
4. RSS to Email
It feels embarrassing to shoot emails to your prospective clients but this is exactly what an n RSS-to-email feed is known for! Send bulk campaigns to the entire subscriber list makes RSS- to-email one of the important options. It also determines the number of times an email subscriber gets hit with your content. Let’s say, whenever you generate a new content piece for your company’s blog, an RSS-to-email allows an email newsletter sent to your subscription list. You’re in luck if your clients find your content interesting!
Always select an ESP that provides automation options that allow you to communicate with your prospective or current customers. An “auto-responder” is a great example of automation. It’s easy to get in touch with your customers once they’ve filled out a form or downloaded content from your website.
Before you go digging into leveraging the strategy for your business, don’t forget that the marketing approach towards your B2B and B2C relatively varies. Upgrade your Email Marketing campaigns from an average to optimal level with these tried, tested, and successful strategies that have worked for startups and struggling B2B businesses.
Your current and future B2B clientele is awaiting your email.
Are you ready to take a plunge into these Email Marketing strategies to the fullest?
Let me know in the comments!