Every now and again, I revisit 3 email marketing fundamentals to inform a business line, illustrate a point, or to remind myself that marketing is a journey.
1. HIPPO decision-making doesn’t work. Stick to the data.
HIPPO decision-making means deferring to the Highest Paid Person’s Opinion instead of data, strategy, or logic. If this is culturally embedded in your organization, your email marketing program isn’t likely to flourish.
For example, what’s the best day of the week and time of day to send marketing emails? Those that have been email marketing for a while will typically tell you about 9am on Tuesdays. So would I if I didn’t track results.
However, campaign results I’ve read will tell you Mondays between 4am and 6am are actually the very best. Like upwards of 35%. Why? People check their mobile phones when they wake up. When reading financial services emails, apparently there are a lot of early risers.
2. Less is more. And that doesn’t just mean mobile first.
Seasoned marketers know this. It translates to less copy, fewer and more impactful images, and a clear call to action. But it also means fewer campaigns. Fewer total recipients so the message is as personal as possible.
More emails do not equal more clicks. It means less relevant messaging to the masses and more opt-outs, making it impossible to get the right message to folks you could truly benefit.
"More emails do not equal more clicks. It means less relevant messaging to the masses and more opt-outs, making it impossible to get the right message to folks you could truly benefit"
Underserved lines of business tend to push for a shotgun approach. They may even use the term, “email blast.” Yikes. Keep your lists clean, your data current, and proactively communicate your results.
Whenever I can, I eliminate the motivation for business units to come to the marketing team in a prescriptive way. I try to stay disciplined in my approach and position the team as consultative expertsto helpachieve sales goals based on their experience.
3. Love your lists. And don’t do all the housework alone.
Keeping customer contact information clean for a financial institution shouldn’t solely be up to the marketing team. It should be something embraced by the enterprise.
Has Retail been trained on how important accurate information is at account opening? How’s your online account opening experience? Has IT locked down as many free-form fields as possible? Do you have a “keep your contact information current” page at log-off in Online Banking? Does the Care Center end each call with a confirmation of customer’s contact information?
Look at seasonality for campaigns. Updated contact information is valuable to a customer let’s say, ahead of tax time, so they can download documents without having to talk to a person.
Are these tips basic? Of course. But sometimes basic reminders are a good refresher when the noise of your inbox makes you lose focus.
After all, don’t we all get way too many emails?