Lead Nurturing
- Investment: $1000 on technology and about 4 to 8 hours to put together emails.
- This is where you take the leads you already have (you don’t even have to generate new leads), and stay in touch with them.
- Take note that things can change, and those customers who might have said no to you in the past could now be more interested.
This can increase your sales up to 20% in just a few months.
Lead Generation
- Investment: $1000 and 20 to 40 hours.
- Put together a list of those people who don’t know you exist and start getting emails in front of them. You could increase your sales by 2-3x.
Sales Automation
- If you’re going through your normal sales process, emails can help streamline your sales pipeline. Help customers move through the pipeline by educating them. Get them more engaged with your brand. Take their temperature – know when they’re stalling or confused and things like that.
- Huge return on investment: 25-50%.
Lead Nurturing
In our digital world, customers have more ways to engage with you. They need more contact with your brand before they get confident enough to part with their money. You can come up with ways to automate at least some of your touchpoints.
Lead Nurturing does not Have to be so Complex
One example is a company that has been able to successfully use email marketing to generate new leads. This company would write a blog once or twice a month, and then they would send an email about these articles to their customers. From those emails, each of their sales representatives has been able to gain a new lead each month.
If you’re an expert in your field and have the ability to create content that your audience will find interesting, then all you need to do is get an email in front of your customers.
Emails are Affordable and Offer a Quick ROI
Emails are simple and easy to test out because there’s very little investment and risk. You can try it, assess the data, and use it as a test before you invest in more expensive forms of advertising. Once you figure out which emails get results, you can assume that those same messages will work with other marketing strategies.
Take note that Targeting Digital Ads may now be inefficient due to people working from home.
Spend and Pray
The problem with most marketing is that you start spending money at a very high rate, right out of the gate. It takes time to get tuned-up and optimized and to really start working. Therefore, you don’t actually start seeing results except in small doses over a long period of time – it could be months before you see ROI from your investment.
In the meantime, you are shelling out thousands of dollars hoping that months down the road you’re going to get a payoff. Plus, if you are not an expert in this field and have to rely on a consultant. You must trust their word on when you could possibly see any ROIs. Right now, this doesn’t really work because you don’t know that the market is going to look like 6 months from now, everything could change very quickly.
Test, Measure and Optimize
Email marketing can be a very powerful tool because you don’t have to spend much money on it. Your investment can be very minimal and you can start seeing results very quickly. Once you start seeing results, you can use the data you’ve accumulated to invest more money on the things that have been working with certain audiences. You can then proceed with digital advertising with the assurance that it’s going to work and pay off more quickly.