Live Webinar
Best Practices for Growing and Monetizing your Email Lists ✆
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Twitter tag: #whatcounts
WhatCounts It Starts with Email
May 12, 2010
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Before we get started… Having technical difficulties? Use the Q&A dialog box to let us know If we can’t help you call Citrix at 888 259-8414 for technical support .
Today’s webinar is moderated moderate d by:
Vicky Oxley Vice-President of Services WhatCounts
Or you can chat with a Citrix representative at www.citrixgcs.com/chat
To submit questions during the webinar, use the Q&A chat box Everyone will receive a link to a recording of the presentation and a copy of the slide deck within 1 to 2 business days
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Before we get started… Having technical difficulties? Use the Q&A dialog box to let us know If we can’t help you call Citrix at 888 259-8414 for technical support .
Today’s webinar is moderated moderate d by:
Vicky Oxley Vice-President of Services WhatCounts
Or you can chat with a Citrix representative at www.citrixgcs.com/chat
To submit questions during the webinar, use the Q&A chat box Everyone will receive a link to a recording of the presentation and a copy of the slide deck within 1 to 2 business days
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Speakers
Jenifer Joyce Director of List Acquisition Marketfish
Jeanne Jennings Consultant, Email Marketing Strategy
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Jeanne Jennings Jeanne Jennings is an independent consultant, speaker and writer with over 20 years of experience in online and email marketing She helps companies become more effective and more profitable online Clients include Hasbro, Network Solutions, Weight Watchers and Verizon Her book, The Email Marketing Kit , was published by SitePoint Jeanne is teaching MarketingSherpa’s Email Essentials 2010 Workshop Training in 10 US and Canadian Locations
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Marketfish Marketfish offers a SaaS platform that enables marketers to source permission-based, 3rd party marketing lists; build and execute lead generation campaigns; and measure and report performance in real-time 100+ Marketing clients including DDB, Draft FCB, Microsoft and AT&T 50+ list brands including: PennWell, Advanstar, Complex Media, & Avelle 185MM Records under management
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WhatCounts One of the first ESPs going back to 2001 A quiet leader in a very noisy and crowded category Long list of marquee clients include Costco, Alaska Air, MSNBC, FOXNews & REI Unique in that it offers clients a choice between a hosted SaaS solution or onsite hardware appliance Proud of its customer focus and 90%+ customer retention rate 6
Tweet! Twitter about the webinar using #whatcounts
Twitter handles for Jeanne and Jenifer Jeanne @Jeajen Jenifer @MarketfishCEO
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Agenda Organic List Growth Best Practices Industry Statistics and Trends Online Email Acquisition tactics Offline Email Acquisition tactics Metrics and Keys to Success
4 Points to Consider when Renting an Email List 3 List Rental Pitfalls to Avoid Best Practices for Monetizing your Large List Q&A
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Organic List Growth Best Practices 9
5 Reasons to Build your Own Email List 1. You’ll get better response 2. It’s a sustainable asset 3. It’s more cost-effective in the long run 4. You know it’s credible 5. You’re in control
But it’s more difficult than it used to be… Source: The Email Marketing Kit, Jeanne Jennings (SitePoint), page 52
List Growth Statistics
67% of marketers have positive list growth
11% say their list is growing “quickly”
Another 30% are remaining steady Source: 2010 Email Marketing Benchmark Report , MarketingSherpa, page 113
What does your opt-in process look like?
Single opt-in Double opt in Just opt out
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Opt-in Options Single Opt-in
72%
Advantages
Double Opt-in
21%
Advantages
Generates more opt-ins (100%)
Proves opt-in definitively
Easier to manage
Generates hard bounce on bad addresses immediately
Less expensive
Prevents foul play Better deliverability
Disadvantages
Disadvantages
Potential for foul play
Generates fewer opt-ins (60-80%)
Higher deliverability rate issues
More complex to manage
Source: Best Practices in Email Marketing Handbook (2009), MarketingSherpa, page 29
Best Opt-in Tactics – B2B Top Five for Quality and Quantity 1.
Free trials/downloads
2.
Sales alerts/product announcements
3.
Trade events
4.
Newsletter offers
5.
Check boxes on registration and order forms
Source: Best Practices in Email Marketing Handbook (2009), MarketingSherpa, page 27
Best Opt-in Tactics – B2C Top Five for Quality and Quantity 1.
Sweepstakes (highest volume producer by far)
2.
Free trials/downloads
3.
Check boxes on registration and order forms
4.
Sales alerts/product announcements
5.
Newsletter offers Source: Best Practices in Email Marketing Handbook (2009), MarketingSherpa, page 28
With regards to social sharing, I am currently:
Using it now on my site and in my campaigns Planning on using it in the next 6 months Thinking about it but don’t know where to start Haven’t thought about using it
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Emerging Tactic: Social Sharing
Planned use of social sharing for list growth has grown dramatically in the past year
Source: 2010 Email Marketing Benchmark Report , MarketingSherpa, page 210
Social Media Sharing With Social sharing rates average 0.5% while forward-to-a-friend rates are typically only a few tenths of 1%
Without Shared emails delivered an average increase in reach of 24.3%
Source: Jennings on Email, Full Day Workshop, Jeanne Jennings, 2008-2010
Blogs and Forward to a Friend Case Study: Noobie Blogs Asked top blogs appealing to moms to promote contest
Twitter Tweets for both contests
Contests Wii for new subscribers iPods for bloggers
Forward to a Friend Additional entries
Source: How to Build a Subscriber List Inexpensively Using Blogs, Contests , MarketingSherpa, March 25, 2009
Noobie Case Study: Results Results List grew to 20 times its previous size in 3 months
Top Sources 71.5% from blogs 20% of blogs approached (40 total) promoted the contest
12.8% Forward to a Friend Names were only added if the friend clicked through to enter the contest
Source: How to Build a Subscriber List Inexpensively Using Blogs, Contests , MarketingSherpa, March 25, 2009
Club Membership Case Study: Cirque de Soleil Benefit 20 “upgrade” tickets available for each performance
Higher than average clickthrough to sign-up from calls to action Double opt-in – 80% respond
Source: Best Practices in Email Marketing Handbook (2009), MarketingSherpa, page 48
Online Email Acquisition Quid Pro Quo
Calls to action
Need to offer the visitor something of value in exchange for their email address and other information No one needs another email newsletter But they might want information from you if it’s relevant to their interests
Offer Incentive Look and feel
Placement Prominent position on all pages Offer
Source: Jennings on Email, Full Day Workshop, Jeanne Jennings, 2008-2010
Online Calls to Action Elements Benefit-oriented language Incentive Form field Opt-ins rose 31%
Engaging creative Privacy statement
Source: The Email Marketing Kit , Jeanne Jennings (SitePoint), page 63
Online Calls to Action Prominent placement Top left and right are prime real estate
Above the fold On every page
Source: The Email Marketing Kit , Jeanne Jennings (SitePoint), page 69
Online Calls-to-Action Case Study: IntraWest Resorts Expanded call to action to all pages Added a form field Additional fields on second page
Tenfold increase in sign-ups
Source: Best Practices in Email Marketing Handbook (2009), MarketingSherpa, pages 102-104
Online Registration 5 to 7 fields max More fields = higher quality Fewer fields = higher quantity Benefit-oriented language Analyze your abandon rate
Source: The Email Marketing Kit , Jeanne Jennings (SitePoint), page 64
Offline Sign-ups: 4 Tactics
1.
On-Site Surveys and Sweepstakes
2.
Fulfillment Inserts
3.
In-store Promotions
4.
Post-purchase Promotions
Source: Best Practices in Email Marketing Handbook (2009), MarketingSherpa, pages 80-82
Offline Sign-ups Case Study: Essential Apparel Call to action on invoice Ordered from Amazon, no relationship with this company
Incentive Detailed instructions on how to sign-up
Source: Critique of an Offline-Online Email Sign-up Teaser Process (1 of 2), Jeanne Jennings (ClickZ), March 8, 2010
Opt-in measurement metrics Metric
Usage
Net new opt-ins
Measure overall progress of opt-in initiatives
Winback opt-ins
Track and trend the number of opt-ins revived through alternate channels
Opt-ins by channel/source
Understand which channels drive the most optins to adjust and refine opt-in media mix
Opt-ins by offer
Understand which offers drive interest
% of bouncebacks from first mailing
High bouncebacks may indicate offer isn’t of enough value to provide an accurate email address
% of unsubscribes in first 30 days
High unsubs may indicate the content is not aligning with the promised value proposition or that people were opting in only for the offer
Business value in 1st year of opt-ins compared to non-permissioned
Quantifies long-term value of opt-in strategy compared to other channels
Source: Jennings on Email, Full Day Workshop, Jeanne Jennings, 2008-2010
Keys to List Building Success List growth is critical to a successful email program It’s not just about getting a high quantity of names on your list It’s also about getting quality names on your list
And about engaging new subscribers from the first touch point
Learn through organic growth Master your sell without breaking the bank Carry this over to other tactics to accelerate growth, like list rentals
The details matter – execution is often the difference between success and failure
Track, Diversify, Evaluate
Sell your email program
Remember, there are no shortcuts
Make the program worth selling Consistently refine your value proposition
Run from anyone who tells you there are…
Source: Jennings on Email, Full Day Workshop, Jeanne Jennings, 2008-2010
4 Points to Consider when Renting an Email List See DM News, “Renting a Rock-Star Marketing List” by Dave Scott, 3/1/10
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1. Permissioning
Is the list permissioned? Have recipients consented to receive third-party emails? Ask for proof
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2. Brands Sell
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3. Metrics
Frequency of Messaging Past performance Deliverability Gross Open Rate Click-through Rate
“Debunk the Creative Myth”
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4. Test! Test! Test!
Apply the “Petri Dish Approach”
Healthy sample size Be prepared for the results Test multiple lists Optimize and expand
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3 List Rental Pitfalls to Avoid 36
1. “Trust Me!”
Insist on proof Deliverability Performance
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2. Wholesale Lead-Gen Multiple use of the same names Over-use Tend not to be permissioned lists High bounce rates/ unconfirmed addresses
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3. High Minimums & Favorites Avoid lists with high minimum requirements Hooks like “bonus of 25k names!” “Favorite Lists”
Let the data decide Find a good test quantity and optimize
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List Rental Considerations List Rental provides a very effective channel to rapidly grow audience base and drive leads Look for high-quality lists from leading brands that have strong metrics that support past performance Avoid lists that lack proof of performance and “deals of the week” approach Don’t consider lists that are “sold” to multiple customers
Deploy several tests in comfortable quantities and optimize based on results
Best Practices for Monetizing Your Large List 41
Why Permission? Don’t have to, but you should want to
Users want to know what is going on; you want efficiency Better results, higher CPMs, greater potential ROI
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Best Practices to Permission Modify current data collection methods Change privacy policy and update Opt-in? Double opt-in? Optout? Permission-pass?
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Verify and Learn Tier 1: Pop-up landing page Tier 2: Straight email send to validate Tier 3: Re-confirm requiring action on their part, and opportunity to double opt-in
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Vision aligned with ROI What do you want to learn about your audience? What do marketers want to know about your audience? Align and build strategically Rome was not built overnight!
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Fields to Collect for B2C and B2B B2C Lists Must Haves
B2B Lists Must Haves
Full physical address
Company Name and physical address
Zip code at minimum
Title
Gender / Age / Income
Industry Type Number of employees / sales volume
Nice to Have
Nice to Have
Areas of interest
Date of permissioning
Date of permissioning
Area of influence / corporate spending by channel
Purchase history by recency or frequency
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What is the current size of your email list?
Under 100K records 100K – 500K records 500K – 1 Million records 1 Million + records
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Tipping Point Size Delivery quality In line with your expectations – and the market
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Importance of Transparency Identifying yourself as the list owner Typically at the footer of the email Incorporated into subject line from advertiser
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Path to List Monetization Deploy solid means of data collection and permission to receive third-party messages Don’t take short -cuts on the opt-in process; build it right the first time
Collect high-value information on your audience as you build the list Embrace a transparent approach
Q&A 51
Next Webinar Early June:
Email Creative Best Practices
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Contacts
Jeanne Jennings Consultant, Speaker and Writer, Email Marketing Strategy 202-333-3245
[email protected] Twitter: @Jeajen www.jeannejennings.com
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Contact Us Marketfish Jenifer Joyce – Dir. of List Acquisition 206.905.1073
[email protected] 512 2nd Ave - Suite 201 Seattle, WA 98104 www.marketfish.com
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