3 Strategic Goals for Email Newsletters: Which One Are You Aiming For?
Email newsletters can be one of the most powerful engagement options in a company’s toolbox. With 60% of the people in the US citing email as their preferred means of communication with brands and newsletters being shown to yield up to a $42 to $1 return on investment, there’s a lot to get excited about. However, the level of impact your newsletter can have hinges on clearly defining the type of communication you want to have with your subscribers. Before launching a daily, weekly, or monthly newsletter, every marketer should consider that question and think about their email newsletter goals.
Generally speaking, the strategic goals for email newsletters fall under one of three categories: inventory monetization, selling products and services, or relationship building. Let’s take a closer look at how newsletters fit into each category.
Inventory monetization: Earning newsletter revenue and paid-subscribers
If your business model depends on ad revenue or paid-subscription signups, email is an optimal way to monetize your inventory while enticing new subscribers to your site. Email inventory can be monetized just like website inventory, including the ability to accept demand from demand-side platforms, run partner sponsorships, and serve your own promotions to further expand revenue capabilities. Using an attractive, modern template that immerses readers in long-form content or drives their eyes to the highest-value calls to action can amplify your results: General Mills saw a 26% increase in revenue when using template layouts with an above-the-fold ad slot.
Selling products and services: Boosting the success of your business-development operation
Another strategy for email newsletters is to use them as a direct driver of sales. Retailers, CPG companies, and deal aggregation businesses have found success using their newsletters to promote special offers, announce new product offerings, and keep customers informed of unfinished purchases or outstanding order information. DailySale saw a 10.6% conversion rate from their product-focused emails and a 140X return on ad spend when running promotional product retargeting campaigns within their marketing newsletters.
Relationship building: Connect with and nurture your engaged audience
If your primary goal is keeping customers engaged long-term rather than driving individual purchases, your newsletter strategy should focus on helping readers grow more passionate about your business. Newsletters focused on relationship building prioritize recruitment, earning referrals, and seeking to increase loyalty among your audience.
To earn that loyalty and generate more lifetime-value customers, use your newsletter to surface what customers love most about your company or inspire them to use your product in interesting new ways. A newsletter that incorporates ads and promotions with relevant and engaging content can help build revenue without compromising your audience’s trust. Taste of Home (Reader’s Digest) was able to reach its food enthusiast audience with an exciting new product line.
Engaging your audience with an email newsletter can reap massive ROI for your business. Just as with any marketing initiative, your success with email newsletters starts with the right strategy. By setting clear objectives, analyzing metrics, and using quality email templates, you’ll ensure your newsletter delivers the highest impact and engagement possible.
