Featured Story Mastering Email Marketing in 2023: Five Tactics You Need to Know In 2023, email marketing continues to be an essential channel for sales teams and marketers to nurture leads and engage with customers. However, to drive more ROI, email marketing tactics need to be adjusted to provide value and avoid unnecessary content. To use email marketing effectively, unique goals should be set for every email campaign and marketers should evaluate metrics such as click-through, conversion, and
engagement rates. Additionally, understanding the level of interest that website visitors have in a brand is critical, and behavior tracking, lead scoring, and engagement metrics can be used to achieve this. Creating email marketing that motivates prospects and buyers is also important, and this can be achieved by adjusting messaging to prioritize empathy and consideration, and using strategies such as social proof, scarcity, and personalization. Finally, being an early adopter of agile email
marketing can help marketers overcome micro-inefficiencies and create effective emails that build trust and credibility with audiences.
In 2023, email marketing remains an essential channel for marketers and sales teams to pursue new prospects and nurture existing ones. However, marketers need to adjust their core email marketing tactics to drive more ROI
through this channel without clogging their target recipient's inbox with unnecessary content. In this article, we will discuss five ways to use email marketing effectively in 2023. First, to use email marketing effectively in 2023, it is essential to have unique goals for every email cadence. This means that marketers should set specific objectives for each email send, such as a
click, a download, or a registration. By setting specific goals for each email, marketers can track and measure the success of each campaign and adjust their strategy accordingly. It is also important to evaluate the right parameters against each email send, rather than just looking at open rates. Open rates provide limited insight into the success of an email campaign, as they do
not indicate whether or not the recipient took any action as a result of the email. Instead, marketers should focus on metrics such as click-through rates, conversion rates, and engagement rates to determine the effectiveness of their email marketing campaigns. As the number of email recipients for email marketing sends increases, the likelihood of receiving unsubscribes or spam reports also
increases. This can have a significant impact on the overall email marketing ROI down the line, as it can reduce the effectiveness of future email campaigns and damage the brand's reputation. To mitigate the risk of unsubscribes and spam reports, marketers should ensure that their email content is relevant, engaging, and valuable to the target audience. They should also make it easy for
recipients to unsubscribe from future emails and regularly clean their email lists to remove inactive subscribers. The second way to use email marketing effectively in 2023 is to understand your online visitor's level-of-interest in the brand. Understanding the level of interest that website visitors have in a brand is a critical component of email marketing in 2023. With
the advancements in marketing technology, brand marketers can now track website visitors and use this information to create workflows that allow them to send automated email nurtures to those visitors or assign them to a specific sales representative for further outreach. However, it is important to note that not all website visitors have the same level of interest in a brand. Some may be
actively seeking to purchase a product or service, while others may be simply browsing for personal knowledge or curiosity. It is crucial for marketers to be able to distinguish between these different types of visitors to determine whether to include them in a brand outreach or not. To effectively gauge a visitor's level of interest, marketers can use a variety of strategies, including lead
scoring, behavior tracking, and engagement metrics. For example, lead scoring assigns a score to each website visitor based on their behavior and engagement, such as the pages they visit, the time they spend on the website, and the content they engage with. This information can then be used to identify visitors with a higher level of interest and prioritize them for outreach. Behavior
tracking involves monitoring website visitors' actions and interactions with a brand, such as filling out a contact form, downloading a resource, or adding products to a cart. This data can be used to create targeted email campaigns that cater to the specific interests and needs of each visitor. Engagement metrics, such as email open and click-through rates, can also provide valuable
insights into a visitor's level of interest in a brand. Marketers can use this information to tailor their email campaigns to the s The third way to use email marketing effectively in 2023 is to create email marketing that motivates the prospect and buyer. Creating email marketing that motivates the prospect and buyer is a crucial component of effective email marketing in
2023. To achieve this, marketers need to adjust their tone and strategy to reflect the changing times and prioritize empathy and consideration in their messaging. Maintaining a considerate and empathetic tone in emails will be particularly important in 2023. Customers are increasingly aware of the role that brands play in society, and they expect brands to reflect their values and beliefs in
their messaging. This means that email marketers must be open to pivoting their messaging if there is any regional emergency or sensitive situation. Brands must demonstrate their emotional intelligence by crafting messaging that acknowledges the situation while also providing value and support to their audience. In addition to tone and messaging, brands must focus on creating email marketing
flows that motivate the prospect and buyer to take action. This involves understanding the customer journey and identifying the key touchpoints where email marketing can make a difference. By providing personalized and relevant content at each stage of the journey, brands can build trust and engagement with their audience, ultimately leading to higher conversion rates and customer loyalty. To create email marketing that motivates the prospect and buyer, marketers can use a variety of strategies, including social proof, scarcity, urgency, and personalization. Social proof involves highlighting the positive experiences of other customers, while scarcity and urgency create a sense of urgency that motivates customers to act. Personalization allows brands to tailor their messaging and offers to the specific needs and preferences of each customer, increasing the
likelihood of conversion. The fourth way to use email marketing effectively in 2023 is to be an early adopter of agile email marketing. Agile email marketing is a methodology that is based on the principles of taking small steps to achieve bigger milestones. It is designed to help marketers overcome the micro-inefficiencies in their email marketing processes and create more
effective emails that bring in results. Traditionally, marketers sent out emails to sell their products or services. However, with agile email marketing, the focus shifts to educating users rather than conversions. The goal is to build trust and credibility with the audience by providing them with valuable information and resources that they can use to improve their lives. This approach is
particularly effective in industries where customers need to be educated about a product or service before making a purchase. One of the main advantages of agile email marketing is that it can significantly reduce the time taken to create a single email. According to Litmus' 2019 State of Email Workflows, it takes two weeks or more to create a single email for 53% of brands. By adopting an
agile approach, marketers can streamline their email marketing processes, identify inefficiencies, and make incremental improvements over time. This allows them to create more effective emails in less time, ultimately leading to higher ROI and revenue growth. Another benefit of agile email marketing is that it allows marketers to stay ahead of the competition. By being an early adopter of
this methodology, marketers can differentiate themselves from competitors who are still using traditional email marketing approaches. This can help them to build a stronger brand reputation and gain a larger share of the market. The fifth and last way way to use email marketing effectively in 2023 is to invest in an omnichannel marketing approach. While email marketing is
one of the most effective marketing channels, relying on it alone may not be sufficient to get the desired results. Therefore, it is essential to take an omnichannel approach and work on other marketing channels like social media, in-app notifications, push notifications, and text messages to create a consistent experience for the subscriber. The goal of an omnichannel marketing approach is
to reach your customers and prospects through multiple channels, providing them with a seamless experience across all touchpoints. By using multiple channels, you can increase your chances of getting conversions and engaging with your audience on their preferred channels. For example, if you are a marketer at an eCommerce store and want to send out a cart abandonment reminder to lost
customers, sending an email alone may not be enough. Instead, you can maximize the chances of recovering the lost sale by sending an email, a push notification, and an SMS. This ensures that the message reaches the customer on their preferred channel, increasing the chances of them taking the desired action. Investing in an omnichannel approach also helps to build a stronger brand identity
and improve customer loyalty. By providing a consistent experience across all touchpoints, customers are more likely to recognize your brand and engage with it. This, in turn, can lead to increased customer loyalty and repeat business. Email marketing continues to be a valuable tool for marketers and sales teams in 2023. However, to maximize its effectiveness, marketers need
to adopt new strategies and tactics that reflect the changing times and evolving customer expectations. By setting unique goals for each email cadence, evaluating the right metrics, understanding the level of interest of website visitors, creating motivating email marketing, and adopting agile email marketing methodologies, marketers can create more effective and efficient email marketing campaigns that drive higher ROI and customer engagement. As email marketing continues to evolve, it will be
essential for marketers to stay up-to-date with the latest trends and innovations to stay ahead of the competition and achieve success in their marketing efforts.
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All the news you need today, in a format that isn't TL:DR, summarized for the busy executive.
Major League Baseball (MLB) has created an economic reform committee to address its long-term financial health in response to the financial troubles of Diamond Sports Group, the Sinclair Broadcasting subsidiary that owns 19 Bally Sports regional sports networks. Diamond missed a
$140 million interest payment and is expected to file for bankruptcy soon. If this happens, MLB commissioner Rob Manfred has discussed taking control of the league’s local rights. The other issue prompting the creation of the committee is revenue and spending disparity between teams, which was raised by New York Mets owner Steve Cohen, who will pay his players around $370 million this season, plus around $111 million in luxury tax payments. Many MLB owners have long favored a salary cap, which
the MLB Players Association strongly opposes. Penn Entertainment, Inc. has acquired full interest in Barstool Sports, Inc., adding to its existing 36% stake, for approximately $388 million. Barstool Sports, which focuses on sports, lifestyle, and entertainment, has over 200 million followers and was founded in 2003 by Dave Portnoy.
Since Penn Entertainment's initial investment, Barstool Sports has grown its audience by 194% and recorded 1.6 billion podcast downloads, as well as delivering over 875,000 videos across social media and selling over 5 million units of merchandise. Penn Entertainment sees Barstool Sports as a powerful media brand with a vast, loyal audience that provides new customer acquisition and organic cross-selling opportunities across its growing interactive division. During oral arguments in the case of Gonzalez v. Google, which is seen as the first major case challenging Section 230 of the Communications Decency Act, Supreme Court justices expressed skepticism at arguments made by lawyers for the family of a terrorist victim that Google could be liable for the fact that its software algorithms had recommended terrorist
content to web surfers. Section 230 shields tech companies from legal responsibility for content users post on their sites. The justices' comments indicate confusion as to why Google would not be protected by the act. The outcome of the case could change internet regulation rules. Coinbase has reported a 75% drop in revenue to $629m in the
fourth quarter of 2021, due to a plunge in crypto trading volumes. The company has diversified in recent years to include services beyond trading, such as staking services. However, securities regulators have begun to scrutinise staking and other crypto-related businesses, including stablecoins. Coinbase warned that regulatory focus on these areas could pose a challenge for the industry in 2023. The company has offset some of the trading slump with its revenue-sharing agreement with
stablecoin issuer Circle, with interest income surging to $182m from $8m over the same period. Digital advertising costs are rising, and their effectiveness is declining, making it difficult for merchants to target new customers. Privacy considerations are a major factor, and it is now more challenging for merchants to place ads and
secure sales. To fend off costs, merchants can leverage first-party data, double-down on storytelling, and execute swiftly, delivering fast-loading e-commerce shopping experiences across multiple channels. The article suggests that headless and composable commerce is key to delivering impactful experiences, giving merchants the flexibility to optimize merchandising and storytelling for superior shopping experiences. Rather than hope that big tech will ride to the rescue, merchants should take
control of their futures, look at their technology stacks and data, and create rich experiences that customers want and expect. TikTok's Creative Studio now includes a new feature that displays real-time product data, including insights on performance metrics such as average click-through rate, conversion rate, and cost-per-acquisition.
Users can filter top products by region, product category, and time period, and the audience insights section provides information on which demographics are interested in the product and their similar interests. This feature can be a useful tool for marketers who want to learn more about their niche and make informed decisions about their ad campaigns. Airbnb, Expedia and TripAdvisor have recently reported their 2022 earnings. Airbnb claims it was able to reduce its reliance on performance marketing, and instead was able to increase its revenue by 75% to $8.4bn through brand marketing and public relations. Expedia's US loyalty program grew 300% in Q4 compared to the same period in 2019, but suffered a decline in market share of OTA bookings in the US from 59% to 49% YoY, in 2022. Tripadvisor's US metasearch revenue
achieved parity with 2019 figures, however, the feature's revenue for the entire year was only 85% of 2019 levels. Dealtale, a company specializing in causal AI for marketers, has developed Marketing Co-pilot, a feature that allows marketers to ask complex questions about their past, present, and future performance metrics and receive answers
based on data from across their marketing and sales stack, including Salesforce, HubSpot, Google Analytics, and social channels. The feature is designed to help marketers of all disciplines make strategic decisions, reducing the time to get answers from weeks into seconds. Marketing Co-pilot is integrated directly into Dealtale’s Revenue Science platform, whose key focus is giving marketers the data they need with as little friction as possible. The feature is set to launch in spring
2023, and Dealtale is currently offering incentive-based pricing for customers that sign up before March 30th. Fantix, a company that offers a "federated knowledge engine" allowing businesses to compare first-party data sets with others, has partnered with Epsilon to enable small to medium-sized companies to match their data with Epsilon's
foundational data assets. The partnership will allow companies to gain insights and analytics in a privacy-safe environment. The Fantix application uses data abstraction to fuel authentic, privacy-safe insights, and abstractions are one-way aggregations that cannot be reversed. The company believes that advancements in machine learning and artificial intelligence make first-party data critical to advertising strategies, and it aims to allow small businesses to compete with larger
companies like Amazon. |
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JPMORGAN ADMITS THEY WERE SCAMMED WITH ACQUISITION OF FRANK JPMorgan Chase’s $175 million acquisition of Frank, a startup that was said to help students navigate the financial aid system, has turned into a legal battle between the bank and Frank’s founder, Charlie Javice. According to JPMorgan, Frank and Javice were not what they seemed, and the bank is accusing Javice of fraud. Ron Lieber, author of the Your Money column for The New York Times, talked to Lizzie O’Leary of The Daily Beast about the story. READ MORE
DATA BROKERS BEWARE: FTC’S LAWSUIT AGAINST KOCHAVA COULD SET PRECEDENT Kochava, an Idaho-based data broker, is currently in a federal lawsuit with the Federal Trade Commission (“FTC”) over the unrestricted sale of precise consumer geolocation data. The case, which comes before the Idaho District Court on February 21, 2023, could redefine the legal bounds of the data-sharing and data-brokering industries. The Kochava case not only aligns with the FTC’s increasing interest in data privacy and cybersecurity, but also serves to further recent
federal policy initiatives such as the Biden Administration’s executive order addressing security concerns over the disclosure of sensitive health-related data. READ THE STORY
FTC CHARGES COMPANY FOR REVIEW HIJACKING ON
AMAZON Online shopping has become a common practice in recent years, and it has become increasingly important for customers to rely on product reviews to make informed decisions. As a result, online marketplaces like Amazon have created features that allow customers to rate and review products. However, it has become a growing concern that some companies are manipulating these features to deceive
customers. For the first time, the Federal Trade Commission (FTC) has filed charges against a company for “review hijacking.” READ MORE
The world of video games and advertising has changed dramatically in recent
years, with big brands and marketers taking note of the massive success of popular games like Fortnite and using them to target specific audiences with their advertising. This is a big shift from the past, where video games were seen as just a form of entertainment for children and teenagers, and marketers were hesitant to invest in this type of advertising. But now, with more than 80% of gaming adults saying they would be interested in seeing a
brand advertise within a game, the trend has shifted towards in-game advertising. So, what is driving this trend towards in-game advertising and why are brands so interested in using video games to reach their target audience? To answer these questions, it’s important to understand what makes video games so appealing to consumers and how they can be used to reach them. READ MORE OF THIS STORY |
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