Email Marketing Campaign: 5 Recession Proof Tips
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In the past, companies that made the right moves during a recession emerged from the economic downturn in a stronger position. It is important to ensure that your email marketing campaign is recession proof in order for you to maintain profitability. Making sure that your campaign will not be affected if ever a recession occurs can be quite hard. It is crucial to make the right decisions and plan your strategies to battle-out the recession. Here are 5 tips that you can apply to make your marketing campaign recession proof.
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• Focus on current customers.
When the economy is stable everyone tends to spend more lavishly and not necessarily wisely to win new customers. In a recession, a business should take comfort on the fact that selling to an existing customer is 10-20% less expensive than marketing to a new customer. You need to take a look at your email marketing database and thoroughly develop a plan to turn these existing customers into profitable repeat customers.
• Reward loyalty
When a recession happens, you need to make sure that your current customers keep your business at the front of their minds especially when they are making some tough purchasing decisions. You need to come up with a loyalty program that gives your current and loyal customers more benefits, dollar for dollar. It makes sense to offer coupons, special offers, and promotions to them. This is an effective way for you to maintain your loyal customers and possibly gain new ones. Always remember that when a customer is happy with you, it is easier for them to tell their friends, families, and colleagues about what you are offering.
• Conversions take center stage
If you can’t tell which of your online marketing programs gives you the most profit, then you should think about changing or improving your program to make it recession-proof. Try to determine which programs are worth expanding and which ones need to be stopped. Always remember that a website that is flooded with traffic and yet fails to convert, loses money. When a recession is about to boil over, it is important that you put a plan in place to improve conversions of your site’s landing pages, email opt-in forms and your shopping cart.
• Be ruthless about your ROI
With the recession just around the corner, it is important for you to determine which of your online marketing channels are making more money. It is very important on your part that you can quickly tell what your Cost Per Lead and Return on Investment is for each of your channels. You need to be able to tell in a glance which of your marketing channels should be cut and which ones should receive more investment. Doing this will strengthen and increase the rate of your return on investment because it allows you to eliminate the marketing channels that are losing money or the ones that are making the least amount of money.
• Use integration to stretch your online investment
When a recession is going on, it is crucial to think about how far you can stretch last year’s budget. The most effective and easiest approach to stretching your online marketing budget is by integrating separate programs into one cohesive marketing campaign. You need to look and explore any alternative options that would give you more advantage. For example, have you considered using your PPC budget to drive your email opt-ins for your prospecting database? It’s basically the same investment but with a different focus and yet, more profit.
Now that you are aware of these 5 simple tips, applying them will help make your marketing campaigns recession proof. With these tips in mind, you don’t have to worry about what to do whenever a recession occurs.
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