July 28, 2011
Commentary by Robert Cowes, President & Co-Founder SmartTouch Interactive.
This is quick read and great article on why drip campaigns are so powerful. In most industries 8-10 leads are not sales ready. Sales execs typically are compensated on a commission basis and therefore are going to be focused on the hottest leads and low hanging fruit. However, what happens to the other 80% of leads if they go untouched??? You guessed it, they buy from someone else. Through the power of marketing automation you can develop content and deploy campaigns and on average enage an additional 30% of those opportunities when they are sales ready. With SmartTouch you not only set up automated marketing campaigns, but you can also capture additional data with simple links on e-mails that update the contacts information in the CRM but also contribute to the lead source and immediately notify the account executive of the reengaged opportunities.
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How To Benefit From The Power Of The Drip Email Campaign
Drip email campaigns are a marketing strategy where a pre-written set of messages are sent out or “dripped” over time. These drip campaigns have become a standard of the real estate industry but in very few other sectors have they become as widespread as they could be. A research study by Silverpop revealed some surprising statistics about the efficacy of drip email campaigns versus conventional newsletter-type of single sends. This information could give entrepreneurs an edge on structuring their email campaigns to achieve higher sales.
Drip open rates are about 80% higher than single sends
The study analyzed a large number of outgoing commercial email sends from a variety of business sectors over a period of six months. The data collected from single send campaigns was compared against drip campaigns to determine the differences in open and click through rates.
Over the survey period, the companies whose email was included in the data set were found to have an average single open rate of 19.15%, with the top 25% of all emails achieving 27.45%, and the bottom 25% managing 14.8%. In comparison with these figures, the drip campaigns achieved an average single open rate of 32.85%, with the top 25% of all emails obtaining 49.75%, and even the bottom 25% receiving 28.3%.
These statistics bear scrutiny as what they are telling email marketing entrepreneurs about the power of drip email campaigns is definitely worth sitting up and taking notice. The lowest 25% of all drip campaigns actually outperformed the open rates of the highest 25% of all single sends!
On the top end, the top 25% of drip campaigns were rewarded with a massive 81% higher open rate than the single sends. In a marketing process such as email where even a 5% increase in open rates can result in markedly higher conversions, these drip campaign results are nothing short of amazing.
Average drip click through rates are 3 times higher
The conversion benefit is seen in the similar analysis of the resultant click through rate. The average single click through rate of the single sends was 3.0%, with the top 25% of all emails receiving 8.55%, and the bottom 25% only able to garner 0.3%. In comparison with these figures, the drip campaigns resulted in an average single click through rate of 10.05%, with the top 25% of all emails soaring to 27.35%, and the bottom 25% dropping down to 0.5%.
While it is fairly well known that the click through rates can drop down to nearly zero in the lower percentiles of any email marketing process, the difference in this metric’s average and higher figures between the single sends and the drip campaigns are even more remarkable than the open rates. The drip campaign’s top and average rates were more than three times that of the single send.
Key points of an effective drip campaign strategy
In order to implement your drip campaign with maximum efficiency keep these key points in mind:
- Space out your drips – Many novice email marketers send too frequently and oversaturate the recipient. Remember that it’s a drip not a waterfall.
- One at a time and only once – Drip campaigns tend to be viewed by your subscriber as a set of messages that are intended directly for them. By sending them two differently-themed drip campaigns at a time, or even worse sending them the same drip campaign twice, will turn them off.
- Keep the content informative – You don’t want your drip campaign text to read as if it’s a sales pitch, so focus on interesting and even educational content that will engage your reader without them having to think that they’re about to be pushed to buy something.
- Limit your drip duration – It’s a good rule of thumb that about 30 drips is about the limit of how many any reader can take before they’re fully prepared to be receptive to your sales approaches, so don’t keep your subscribers on eternal drip strategies.
Drip campaigns are a powerful way to elevate the email marketing metrics of any entrepreneur and boost their entire bottom line!