Email marketing can provide an astonishingly high ROI for consulting businesses. When done correctly, email marketing will increase the revenue of your consulting businesses, lifetime value of your customers, and brand equity. The process involves building an email list, welcoming new members, building trust, being consistent, and selling. It is a simple process, but it takes dedicated effort to implement.
- Building an Email List
Building an email list is challenging, but needs to be part of your long term marketing strategy. There are numerous ways to build an email list, and that could be another blog post of its own, but when building your email list, you must be creative, open to new ideas, and tailor it directly to the target audience. The time and money spent on building a quality email list is completely worth it if it is done correctly and efficiently
For many consulting businesses, each customer could be worth up to $10,000 (sometimes $100,000+). If your business spends $3,000 to convert one new customer through email marketing and their value is $10,000, that is a 233% return. Whatever the specific numbers are for your firm, you need to be focused on the return that is required.
- Welcoming New Members
Welcoming new members to your email list is important to the success of your email marketing. Many of these people have signed up for your email list with a purpose in mind and are excited about receiving your first email. This is a great time to showcase what your company is all about, send out free and valuable offerings, segment your list, and let your customers know that they matter.
- Build Trust
Building trust with your email list is essential to successful email marketing. Members of your email list need information, products, and services that you have to offer, so don’t be afraid to showcase them. While you showcase your information, products, and services, give them free information, entertain them, and be unique in reaching your audience. If all of your emails are boring and lack value, your audience will quickly lose interest, your emails, and may unsubscribe.
- Be Consistent
Being consistent can sometimes feel like you are just being annoying, but in reality, your list should want your emails and you should be providing them with the things that they need and value. Consistency will keep your business on the front of their mind and will have members of your list waiting on your next email.
- Sell
Finally, sell. The purpose of your email marketing strategy is to gain new customers. Sell with authenticity, intrigue, and value. Sell them your information, products, and services that are clearly going to benefit them. Once someone on your email list has made a purchase and realized value, the probability increases that they will convert again from a future email.
Email marketing can add significant value to your business in terms of revenue, profit, and brand equity. Build an email list, welcome your new members, build trust, be consistent, and sell. This will take time and effort but will pay for itself many times over.
Let me know if there are any keys that I missed in the comments.
