If social media are the lean hipsters of modern communication, email is probably more like a reliable, if a little stodgy, colleague. It may not be a racecar, but everyone knows how to drive it.
Even though it’s very mature and ubiquitous, email has some characteristics that make it an extremely effective and low-cost channel for marketing. Email is a closed channel; it is targeted, and it is permission-based.
These 3 factors give email its power to reach more prospects than many of the more cutting edge tools out there. In fact, 98% of top-producing agents say that email is the best lead conversion tool we have.
Making the most of email marketing efforts doesn’t have to cost a thing. It’s really a matter of being aware of some pertinent facts about how people use email, and staying on top of how your email marketing is being received by prospects.
Targeting is key
Email marketing that is permission based and sent consistently will be the most effective. Content should be valuable to the recipient, so before you compose a message, map out your campaign to ensure that it’s going to someone who cares.
Rather than sending the same message to a large mailing list, divide your recipients into several smaller lists based on criteria of your choosing, like location, industry, or the origin of the contact. This allows you to tailor the message and create a more useful email for each group.
Pay attention to metrics
Open rates and click-throughs are powerful numbers that can help you optimize the reach of your emails.
Some studies have found, for example, that emails sent on Wednesdays and Thursdays have the best open rates. This naturally varies, so take time to determine which are the strongest days for your audience.
Open rates are also much higher when the sender is a person, rather than an entity. The “from” box should list a person’s name. Consider how the email looks in the user’s inbox.
Open rates are also higher for new subscribers than more established ones, so it makes sense to devote more energy toward connecting with people who have recently subscribed. Make it easy to sign up to receive emails, and encourage a continued supply of new subscribers.
Click-throughs represent the number of times hyperlinks are used on a site. Even the way that these are presented has an impact on the click-through rate. Research has found that text links get clicked at a higher rate than buttons.
Consider the destination
Keep in mind that more than 50% of the opens for your email will be on a mobile device. Don’t write long text-heavy messages that aren’t suited to a mobile device. Instead, include links for more information and options to subscribe.
Marketing with email has great potential when it’s approached analytically. It’s well worth your time to keep track of the metrics that signal your emails’ effectiveness in reaching clients and prospects. A few tweaks here and there can breathe new life into your email account.
Did you know that the new RealNex MarketPlace includes an email tool? Send to your own contacts or to the RealNex community (that's over 75,000 commercial real estate professionals).