Just How Important is Email Marketing for Small Businesses?
With a Return on Investment of a staggering 4,300%, email marketing is about the most effective marketing tool, small business owners and entrepreneurs can leverage.
Have you ever come across those junk emails that do nothing but irritate you, and the next thing you do is to look for the ‘unsubscribe’ link? Well, the senders of those emails hardly have any email marketing strategy in place. Gathering hundreds or thousands of emails, by whichever means, and sending sales pitches while hoping some customers will respond or purchase a product from you is by no means email marketing. If anything, using this method will guarantee you a spectacular failure regarding click-through and conversion rates. It would be best if you were more strategic in your email marketing campaigns. In other words, success in email marketing is not a function of trial and error or chance; it is a result of precision in terms of content and timing.
Here are three tactics you can use in your email marketing campaigns for higher ROI.
Timing is cardinal: Target the senses and consider the time you send your emails
Your customers don’t have all the time in the world to read every email that hits their inbox. It is estimated that the average number of emails that hit the inbox of an average busy person daily is 97. How many of these emails do you think can be read? With that in mind; if you are lucky, your email might be opened.
For an email campaign that is untargeted and/or sent at the wrong time, the most likely place it will end up is in the trash bin.
No matter how big your brand, most consumers will not spend more than a few seconds trying to figure out whether the email before them is worth opening and reading. You only have a small window of opportunity to seduce your subscribers to open your email.
Unfortunately, many marketers and small business owners squander this golden opportunity by sending their emails at the wrong time and using generic texts and images. Your success hinges on reaching and resonating with the recipient at the right time and delivering the right message.
When is the right time to send emails?
The long-standing advice to email marketers about the best time to send email has always been, “Tuesday, Wednesday, and Thursday, between 8.am and 10 a.m.” the logic behind this notion is that people tend to open their inboxes in the mornings. However, that may not always work as much as you would like. As it turns out, there are other unconventional times to unleash your campaigns.
Let us look at some important email marketing trends and stats. This will give us an idea of when the best time to send email would be.
- According to an Experian study, most emails are opened at night with unique open rates averaging 21.7% between 8 p.m. and 11.59 p.m. and 17.6% between 12. a.m and 4 a.m. Moreover, click-through rates during these times are 4.2% and 3.2%, respectively. Return on investment per email is also highest between 8.00 p.m and 11:59 p.m.
- Experian quarterly email marketing benchmark release also showed that emails sent on Monday have the highest ROI even though emails sent on Fridays have a higher click through rates. Ironically, fewer emails are sent on Saturday and Sunday despite the fact that these days experience higher click-through and conversion rates. According to Experian, unique open rates for Saturday and Sunday is 17.8%, which is higher than any other day of the week.
Based on these findings, you should send your emails at unconventional times, such as on weekends and during late hours (between 8: p.m and 11:59 p.m). You can also capture the early birds by sending your emails between (12:00 a.m and 5: a.m).
While this is not a blanket ban on conventional email sending time, it would be a brilliant strategy to counter the competition and stand out from the crowd.
In other words, try not to send your email campaigns when most others are sending.
Mjrvisuals can help you increase your reach out of that content through our expertise. We run the gambit of visual imagination, including video production, digital marketing, video editing, print design, advertising, graphic design, graphic animation, motion graphic and media design.
We believe everyone has a story; the question is; who is telling yours?
Why Online Marketing is Essential for Your Business
Online Marketing is Essential for Your Business
Are you thinking that the business world has become so competitive that it has almost reached the limit of competition? The bad news is that it is not about to. You are still going to witness more rival business set-ups opening operations and more websites designed to sell the product you are selling being created. Just imagine that whatever line of business you are; whatever industry you are in, there are thousands, sometimes millions of others offering the same product as you are. What do you think will make a customer to choose you over others offering the same services or products? In this century, it is suicidal for any business owner not to have an online presence. It is part of the strategies of remaining relevant and being competitive, as well as attracting new customers, globally.
Why Being Online Matters
It doesn't matter whether you have been in business for the last five decades or you are just starting out. The internet has actually leveled the playing ground for both the big boys and the small fish; in other words, when a customer is looking for a product online, it doesn't matter who is selling the product. What matters is whether the customer is able to find your site and can trust you. Essentially, those businesses which are not yet online are in for a big trouble because sooner than later, they will be out of business if at all they aren't already.
You need to get noticed through Search Engine Optimization
If you are online, the biggest headache is getting noticed. You cannot afford to be ignored if you want to make a fortune online. As they say, creating a website is the easiest part-the hardest part is pushing your site as far up the search engines as possible. Remember, for very niche, there are millions of other individuals, and businesses who are scrambling to get noticed in the search engines.
That is why you need a professional marketing company to help you reach your potential customers. Search Engine Optimization companies are doing a wonderful job to assist businesses undercut competition by pushing their sites up the search engines. Otherwise, if you just create a site and sit back and relax, you are not going to see substantial number of unique page views from your site. Does this explain why many people who created blogs and website with anticipation of carrying home a fat AdSense check are left disappointed?
Optimizing your site isn't a simple-one-day-event as some optimists think. It requires skills, dedication, professionalism and patience for you to succeed at it. Therefore, it is important that you get a professional SEO company to pull your site out of the murk and make it recognizable in the local or global search engines. It is time to let a SEO expert company perform search engine optimization for you as you concentrate on your core business.
Of course there are many other marketing strategies you can apply to grab the attention of the potential customers such as social media, email marketing, pay per click marketing, among others. For optimum results, you ought to apply all the available marketing strategies, depending on where your target customer base is located.
Why and How to Use Social Media for Local Business
Whether you are an individual entrepreneur, or part of a small, medium or giant business set-up, you certainly know that your customers are using social media. Therefore, there is no reason why you shouldn’t use it too if you want to reach them.
The good news is that it costs almost nothing to use social media, and it is easy to get started, yet it has the potential of having an enormous financial impact on your business. Another reason why you need to establish an online presence through social media is that it is a timely way of obtaining feedback from customers.
Social media is also used to market the business’ brand and products, as well as build relationship with customers. If used well, social media can also help in SEO performance of your site. A research conducted by Pan African University provided the following interesting statistics:
- 88% of fortune 100 companies use twitter daily to connect to their customers and 85% of companies worldwide use twitter at any stage of their recruitment process.
- Facebook has over 500,000,000 users worldwide (although this figure could be more because many people have since signed up).
- 45 billion of content is uploaded daily on Facebook.
- Twitter has over 156 million users.
- YouTube is the 2nd most searched site after Google.
Moreover, In an Altimeter Group survey of 700 executives and social strategists in 2012 found that 100 percent of participating enterprise organizations run to varying extents an active social media strategy.
How: Strategy and Tactics
As you can see, social media presents a fertile ground for you to register your business presence online. The next thing is to learn how to launch your social media presence. The truth of the matter is that it is difficult to succeed in social media without using strategy and tactics.
Strategy and tactics are inseparable here. You can’t design a successful online presence through social media without deep, firsthand knowledge of the tactics you’ll be using. Strategy will guide you on how to implement the strategies. Otherwise, aimless actions might not yield much. Here is how to go about it.
Know the Market: some market research will be critical. This will help you to understand the market, where your target audience is, as well as understanding the competition. Once you know the market, you can now begin penetrating it with the right messages.
Time and Quality Updates: Providing your audience with good updates, engaging contents, and timely news will enable your media presence to grow to unprecedented level. The more regular your updates are the better; don’t give updates every month. You also have to make a schedule so that you are consistent. For instance, you can issue updates twice a day, once a day, and so forth.
Social Media Tools: learn how to use a variety of tools to make your social media campaign an easy and effective way of reaching your audience. For example, you can use micro blogging tool to simultaneously your messages to the masses. A number of Facebook, Twitter, YouTube, and LinkedIn apps are available. If you have a website, remember to include your social media comment/like/follow tools.
How to Create a Smashing Brand: 5 ideas to refresh your online branding
Did you know that a strong identity helps your customers to remember you and makes you stand out in the marketplace? However, here is some news for you: branding is more than just shinny logos and a fancy name. Branding essentially involves helping customers to have a sense of belonging and attachment to your products, services, culture and values. If you want to create an unforgettable brand online, it needs to be consistent, recognizable and should appear across all aspects of your online presence. Learn how to create an unforgettable brand using these five tips.
- Are you prepared to spend some money?
When it comes to online branding, you cannot avoid spending some money. If you want to make more money, you have to spend more money. It means you will have to spend in things like social media, Ad Words, and content creation.
- Identify and convey your purpose
In order to create a powerful online brand, you need to create a defining purpose that will act as your compass. Sometimes it is good to go back to the basics. Why are you in this business in the first place? Does your mission and purpose translate into your online presence?
- Keep it real
Sometimes small businesses suffer into oblivion because of their insistence to look ‘big’ and corporate like. The truth of the matter is that you don’t have to. If you want your brand to stand out online, do not hastate to put your personality behind it. People are more receptive to people. For instance, try to include your picture in your company profile. You could also infuse some humor into the content. Authenticity should be your goal regardless of whether you are new in the market. Be passionate and you will attract passionate clients into your online business.
- Revisit your target audience
Do you really know who your target audience is? You need to know who your target audience are and where there are or where you can find them. Therefore, you need to make sure you can consistently target your audience so that your audience find content when they expect it.
- Conduct yourself professionally
Whatever you do, remember that this is business. So you should pay a close attention to how you conduct yourself. Avoid being remembered for the wrong reasons by ensuring you post or publish credible and factual content. Go for quality over quantity. You have probably heard the saying that goes: it is not what you say, but how you say it that is essential when it comes to marketing. Although your personality reflects on your startup at the beginning, the personality of your startup will become an integration of voices that write for your brand.
It is important to keep in mind that what is being said about your brand is very important; therefore, it is important to make sure you listen to your audience.
Mjrvisuals can help you increase your reach out of that content in your website through our expertise. We run the gambit of visual imagination including video production, digital marketing, video editing, print design, advertising, graphic design, graphic animation, motion graphic and media design. Be part of our portfolio of clients and let us tell your story to the world. Click here to visit our website: mjrvisuals.com/
Customer Insights Every Business Owner Should Know
The key to success in today’s small business can be summed up in three simple words. “Know your customer.”
It is a perfect adage for today’s environment in which longstanding practices and realities are melting away to reveal a transformed landscape where opportunities are abundant, but often more obscured. In this new environment, customer insight is not only important, but also imperative.
It is no secret. Small business profitability is deeply connected to customer insight.
But what is customer insight?
Customer insight means having knowledge about customers and markets that helps structure thinking and decision making. It’s about having the whole picture, visible to the whole organization, from executive to customer service.
Customers expect you to know who they are, what they want, and how they want to be addressed. They want to converse with you. They want to be listened to.
Consider these recent consumer survey findings from the analyst firm Digital Clarity Group:
- Only one percent felt their customer expectations were always met.
- Around 89 percent had switched providers due to poor experiences.
- A full 82 percent said that the company they abandoned could have taken steps to keep their business.
What does this tell us? It means gaining customer insight is one of the most important things in business.
The source of insight
The next question we should be asking is, where can we obtain customer insight data? Customer insight comes from combining data from a number of sources. It is about using all data sources and applying the correct weight to them.
Insight comes from compiling and combining evidence, from data, to paint a picture. Merging the market research and database marketing teams is a step in the right direction, but it’s only part of what is required to create insight.
Part of this process is to know your customer’s touch point data. The following are sources of important customer insight data:
These sets of data can be generated from the following channels:
- Social media data
- Enterprise data
- In store talks
- Email communication
- Website logs
- Phone communication
- News media
- Syndicated research data
- Forums and review sites
The challenge most business owners face is leveraging the data they collect in order to create the right marketing mix. They struggle to aggregate the data to form the right customer insights and disseminate the right actions.
Customer insight requires that small business owners address the following points.
- Who are your most valuable customers (MVCs)
- What do they want to purchase?
- What motivates them to purchase?
- Beyond transaction, how can you interact with your MVCs in a relevant and profitable manner?
- How can you customize aspects of your product or service in order to meet the individual needs of your MVCs
Indeed, having the answers to the above questions is no longer a luxury. Small business owners must not only find answers but also act on those solutions in order to drive growth and profitability of their businesses.
The ability of firms to understand customers one at a time across multiple channels will mean the difference between success and failure because customer-based strategies are the key to competitive differentiation in today’s business world.
Knowing how, when and what to offer a customer can mean the difference between a profitable versus an unprofitable business.
According to Data Mine, you know you are on the right path and have the right customer insight in place when you have adequately answered the following critical questions.
- What is the aim of this organization?
Why was the organization formed? It is important to have the big picture even as you go about your daily duties. Unfortunately, many small business owners get consumed with daily tasks that they forget the mission statement of the company.
What is the organization’s customer acquisition strategy?
Every organization must have a marketing strategy. Doing business without a marketing strategy is like driving in the dark without the headlights. You risk not only getting involved in a fatal accident, but you also risk moving in the wrong direction.
What do we already know (not think we know)?
Obviously, you already know a few things about your customers. It is important to be aware of what you already know so that you can have a starting place.
- What do we need to know?
Now that you know what you know, it is time to know what you need to know. Identify the knowledge gaps and get the right information. Find out what data you need to collect and what tools you need to collect the data and collect it.
· How are we going to priorities what is needed?
Bearing in mind the constraints of time resources, identify the most urgent needs.
How will we ensure insight is retained in the business?
After gathering the customer insight, you need to ensure that it is retained in the business.
In short, insight is provided when the right questions are asked and solutions provided. The following illustration illustrates this very well.
The building blocks of customer insight are:
· Clearly defined company aim and objectives
· Customer driven marketing
· Organized and accessible data
· The right people in the insight team
· Knowledge management
In order to achieve customer insight, people must work collaboratively in the organization and have a clear data strategy.
Customer insight is not employing an analyst, or even a team of analysts. It requires organizational commitment to change. If it was easy, every organization would have customer insight sorted.
Mjrvisuals can help you increase your reach out of that content in your website through our expertise. We run the gambit of visual imagination including video production, digital marketing, video editing, print design, advertising, graphic design, graphic animation, motion graphic and media design. Be part of our portfolio of clients and let us tell your story to the world. Click here to visit our website: mjrvisuals.com/