For small businesses, financial tips cover a lot of ground. With the large amount of information out there, sometimes highly useful advertising and customer-building advice gets lost.
One such example is email marketing. This solution is extremely valuable for a company, but it often gets forgotten behind more glamorous alternatives, such as social media. However, it shouldn't be ignored. Sending out emails is a great way for an entrepreneur to get ahead, while saving money and maintaining a healthy financial plan.
Why emails are helpful
This form of marketing is a smart decision for a small business owner. It can make running a firm easier, and bring in more potential clients than otherwise possible.
One of the biggest benefits is targeting, according to marketing firm FusionFarm. Not all customers are created equal, and emails have the opportunity to narrow a focus and make sure that every segment is appealed to. A list of emails allows for specific advertisements to be sent to the right people, based off of demographics, interests, behaviors or buying patterns.
In addition, an email marketing campaign provides the chance for a small business to pick a target audience, the news source noted. For example, a message could include multiple links. One product could get more clicks than another, illustrating the interests and priorities for the consumers that might have otherwise not been obvious.
Financial tips to improve emails
This marketing strategy is cost-effective, making it a logical step for a small business looking to save money. Even though it might not break the bank, there are still several good practices in order to get the most out of emails.
Before an owner ever sends out the first message, sign-up should be a breeze, according to Forbes. A form could be posted on the Internet, using sites like Facebook or the company's webpage. Additionally, the required fields should be kept minimal. This is highly important – few people, especially new customers, want to fill out a massive list of personal information. A name, perhaps a birthday and of the course the email address is all a small business could need to get started.
Every entrepreneur wants their business banking experience to be personal, with no surprises or hidden expenses. The same goes for email marketing. A company should not use this strategy to trick the consumer, or spam them with thousands of useless emails. Each message should contain some level of value, such as sales updates, coupons, well-wishes or breaking news. Information like this should be presented at the sign-up, not at a later date.
One of many great financial tips include scheduling. A publishing calendar is an ideal way for a small business owner to keep email marketing on track, the news source noted. Therefore, money won't be wasted on a campaign, and the most return on the investment could be gained.
Craft the best email
What is contained within the email is key to success. In total, only about 20 percent of all messages are opened, regardless of industry, according to Entrepreneur magazine. Because of that, small businesses should take steps to set their strategy apart from the rest.
Personalization could help, the news source noted. Reminder emails are a good step, and the more each one is tailored to the recipient, the better. For instance, if a customer has earned a coupon or cash reward, it might be beneficial for a company to remind them that they have money to spend, if the deadline is approaching. Many people tend to open the first email, then forget they have something to redeem in the first place.
Small businesses that stay on top of email marketing and provide unique, custom content for each of their customers have a good chance of seeing benefits and increasing revenue.