The 5 Email Marketing Questions you Need to Understand
As social media platforms come and go, email isn’t going anywhere. In 1978, the first email campaign was sent out to 400 people, and it’s been growing steadily ever since. Wouldn’t it be amazing if you knew exactly how to send emails that boosted engagement and improved conversions? Unfortunately, it’s not that intuitive, but we’ll give you the next best thing: the five most commonly asked questions, and advice on how to best tackle each problem.
Is it worth sending emails at all?
The short answer is yes. Email marketing is very effective at nurturing your leads. And when done right, it’s a cost-effective, fast and easy way to keep existing customers informed (and excited about) your services. Throughout 2023, engagement with email campaigns was on the rise, and even with all the newest social media platforms, 31% of marketers say email is the most efficient content to boost business. Read more on the importance of email marketing here.
How do I measure my emails?
To make sure your efforts are effective and your email list stays up to date, there are five important metrics to measure regularly:
- A/B testing. Send out different versions of your email to two sample groups and choose the winning email for the rest of your subscribers.
- Bounce rate. Check how many emails bounced from the recipient’s inboxes to help keep your email list tidy and other metrics accurate.
- CTR (click-through rate). Getting readers to click on a link inside your email will often be the primary goal of your campaign, making this a key metric to measure.
- Conversion rate. Thanks to the emails, this helps you understand how many of your subscribers sign on to become clients.
- Open rate – the percentage of recipients who opened your email – is important because your email campaigns won’t do a thing unless your subscribers open and read them.
For a full list of marketing terms and their definitions click here.
What is a good open rate?
When you’re beginning your email marketing journey, there’s no accurate benchmark to measure your success. That’s why it’s helpful to know the industry averages. According to 2024 email marketing benchmarks, the average open rate for the financial services industry is 20.20% while a good open rate is 25-28%.
Want to dive deeper into email open rates? BOMA explains it further here.
How do I get people to open my emails?
Your audience will be much more likely to open and read your emails if they’re interesting, valuable and trustworthy. Fortunately, as an experienced accountant, you already have the knowledge people need and appreciate. The hard work lies in execution. First, write a clear and specific subject line. For example, instead of writing a generic ‘April 3rd Newsletter’, select the most important information from the article and use that in the subject line. You’ll let your readers know what they’ll gain from reading it. To learn how to do this in more detail, watch our video tutorial on getting emails opened here.
Another way of keeping your open rates healthy is to avoid buying email lists. It may seem tempting to increase your exposure, but the people you’re speaking to may not recognise you or want your content in the first place. They’ll be less likely to open or click on it and could potentially mark you as spam.
How do I grow my email database?
Even though you’re not technically a marketer, it’s your (extra) job to continually add contacts to your database. Why? Because a database lets you see who’s actively engaged with your services while driving acquisition and retention. To grow it consistently, use your existing social networks and ask followers to subscribe to your emails and share with friends. Then, make signing up as simple as possible, with well-placed buttons and an enticing call to action. Learn how to build your firm’s email marketing database even further here.
Email’s your best investment
Building your database is a safe investment of your time and money. Keep measuring, learning and adapting, focus on getting people to open your emails, and make sure what you send is high-quality. Over the long term, you’ll see your efforts pay off.
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