The Direct Marketing Association studies and reports each year on what marketing channels produce the best ROI’s for every $1 spent. That includes Social Media ads, Keyword ads, SEO etc.
Can you guess which one is always the most profitable, by a country mile?
Take a look at some of their recent findings below, as seen in Sabri Suby’s book Sell Like Crazy.
Email is way out ahead of everything else. It produced a stunning $44 return on every $1 spent!
If you’re UK based: take a look at this next 2019 graphic that’s a little closer to home.
That’s right, not only is email the winner, its return is actually increasing.
Yet I speak to an alarming percentage of Hair or Beauty businesses that don’t continuously build their email list….or even use email.
With all its sexier digital marketing cousins like the various social media platforms, email is seen by many as a dinosaur no longer worth using.
This is a big mistake.
A major reason why emails’ return is so far out in front is once someone opts in to your email list, you can send them as many emails as you like for free until they unsubscribe.
In other words; this is a list that YOU own.
The same cannot be said for your Facebook or Instagram following.
Remember not so long ago whenever you posted something on Facebook, it was viewable for ALL your followers?
Then Facebook changed things, so only a small percentage of your following are now seeing your posts. If you want more viewers you now have to boost that post.
You are at the mercy of these platforms. They have the power to change things at any point, and will do so again eventually. Hence these are not lists that you own.
That’s another reason why I’ve emphasised that with paid digital ads; the best strategy is to advertise an offer where people must provide name and email to receive.
Because you can then continuously email market to them for free.
Sure, emails’ opening and read rates aren’t as high as they use to be. The average sits at around just 15%.
But still, do the math. If you build an email list just 1000 strong, that’s still 150 people that will open and read your emails. Build a list of 10,000: that’s 1500 potential takers of your next offer….
So if you've all but forgotten about email, or it's reduced to a monthly newsletter, perhaps it's time to make a change.
Try introducing a couple of small things that will continuously build your list with no ongoing work required; are people given the option to join your subs list when they complete a consultation?
And how about creating a pop-up on your site that asks potential clients to join your email list, giving them an incentive like going in to a competition.
Then try and email your list 2 - 3 times per week with interesting content.
"But Scott I never know what to write about, it feels like I'm just repeating myself!"