Email Response Rates are BOOMING!

 Hey Everyone,

 

Hope you are doing well. More than 306 billion. That’s how many emails were expected to be sent and received each day in 2020. With millions of companies switching to remote work and brands sending more emails, the number may well exceed this.

Some statistics:

•       Email revenue is up 86%.

•       Open rates are up 21.8% and click through rates are up 22.5%.

•       Revenue per recipient is up 60.5%.

Email marketing is performing better than it has in a long time, a clear sign that people are spending a lot more time in their inboxes. What are they looking for and how can your business respond? Here our four things you should change about your email:

•       Email hygiene involves more initiative right now considering the massive loss of jobs now invalid email addresses.

•       Be empathetic and offer practical help.

•       Be more aware of spam complaints. No matter what, someone is going to be unhappy.

•       Stick to a consistent sending schedule. This is a simple way to keep spam complaints under control.

Email continues to deliver stellar performance. But how can you bring it to the next level? Call me for an in-depth look at the latest strategies and tactics.

Stay healthy!

West List Co.

Kobe Bryant starting new Venture Capital Fund

Kobe Bryant has launched a new fund that will be catering to the world of marketing and data.  Bryant Stibel will be a fund that targets Tech and Data companies that need capital.  Web.com founder Bryant Stibel is partnering with him on the venture as they now seek outside backing.  They had previously partnered on other ventures including The Players Tribune, Scopely and LegalZoom.

It will be interesting to see how this new venture pans out - for Kobe's sake I hope his business savvy can match the basketball skills.  Its hard to know exactly where he invest his funds - exciting to see that he sees opportunity with this space. 

RIP KOBE - We will miss you.

New Forms of Direct Marketing Taking Hold in B2B Marketing

The number of clients that have asked me about how to use Twitter and Facebook for b2b lead generation is staggering. Everyone wants the latest and greatest. Its the only reason we keep buying cars. When people know there is something else that is newer than what they have, they are instantly interested. Thus the keen interest in social networking to grow your business. The ability to target consumers is something that the world of social media gives marketers, no longer wasting your impressions or budget on people who don't need what you have. That being said, social media marketing has its short comings. Printed material often has a pass around rate, people often keep the offer for future review. A Facebook ad is not something you are going to print and use down the road, this is limitation - the repetition can cause an ever increasing ecpm. This drives up the cost of your clicks. Keeping your ads accurate and targeted will ensure success. I also don't see these new tools as branding mechanisms. Radio/TV and Outdoor, continue to be much cheaper.

Canada Post hurting future of Direct Mail

Having spoken with many direct marketers, I am concerned about how professional mailers are being kicked in the teeth yet again.  CP has made first class mail more than 60 cents.  This makes it nearly impossible to test direct mail with any new offers.  Direct mail is all about testing, testing, testing and more testing. As the cost of each piece skyrockets astronomically, it becomes impossible to find a program that works. If Canada Post understood that they need to EMBRACE direct mailers, not alienate them with a pricing structure that does nothing for niche marketing.  Canada Post is not built on your grandmother mailing you a birthday card for your 12th birthday.  Its founded on business commerce and solicitation.  The sad part is, they began with unaddressed admail.  This offering cut out the ability to target specific businesses or contacts based on criteria more involved than simply where the contact was located.  As a result of this, direct marketers got lazy! Forgetting that title, business size, industry and all the other selections that factor into successfull direct marketing.
   So, as a result of the shift away from unique datasets or custom lists.  The quality of data lists has been on the second decline since this derailment began.  I am not going to talk about the leadership of this company or the rest of the marketing world in Canada.  But it does seem that its incredibly shortsighted.

The solution is providing credits to test marketers, businesses that are willing to spend on small test campaigns.  This will ensure that more programs are tested and direct mail remains part of the marketing landscape. 



 

Canada Post ... The Problem with ...

Okay, so here is an open letter to the people at Canada Post regarding there lack of forethought on growing their business. Many DM efforts have used the unaddressed ad model, because why bother use a list that Canada Post doesn't sell? Opening because it drastically increases the open rate over unaddressed add mail - however, the cost savings is so minimal on the process. 22 cents for unaddressed, compared with addressed at 46 Cents, but the open/response rate for a quality mail piece is drastically higher for the latter.
Canada Post, run by the Government, got the funny idea that they could make more money acting as the list broker. By offering postal code drops, you no longer need a targeted list? Right? NO! Postal Code mailers provide DMers some targetability, but the lack of personalization and demographic data segmentation has put a huge cut into response rates. The sad thing being, by doing this - Canada Post has bitten the hand that feeds it!

How does Addressed Mail work??

Today is all about what is new and cool - and is anyone else doing it. My friends now is the time to ensure that your doing programs that are guaranteed to work and have been working for over 100 years.

Direct Mail, when done correctly is the best way to grow your business. There are two types of DM, the first being addressed direct mail and the second being unaddressed ad mail. Often called 'Householder' direct mail.

Addressed Mail - Traditional Package

- This is where it all begins with your DM efforts. If you haven't done the basic format, you may be missing out on higher conversions with lower printing costs. The package consists of an envelope, a brochure, a letter, an order form(optional) and a reply envelope. The reply envelope should have your indicia on it for return.

A few thoughts to keep in mind about the envelopes. Before you start using oversized envelopes, keep in mind that the cost of postage will increase with the oversized envelope. If you haven't tried the traditional format - don't just do what the printer/lettershop suggests. This isn't going to guarantee increased customer acquisition.

Are you going to use a lot of color? It will definitely increase your costs - but it is important to have some color/colour in the piece.