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The New Rules of Driving Revenue with Email Marketing

Nov 30, 2016 2:06:50 PM

email_new.jpgEmail is more powerful than it has ever been. Even with the explosion of new technology, marketers keep coming back to email. The reason is clear– According to VentureBeat, for ten years in a row, email is the channel generating the highest ROI for marketers. For every $1 spent, email marketing generates $38 in ROI.

For doctors this means a 40 times higher new patient acquisition rate than through your social media efforts. Email allows you to make new connections, follow-up on leads from community events or trade-shows, and reengage lost patients.

The new rules of email marketing:

  1. DIY Marketer
  2. Optimize for a multi-screen world
  3. Personalization
  4. Capitalize on Analytics

DIY Marketer

First technology makes things possible. Then it makes things easy. We’ve hit that point in the marketing technology continuum. Sophisticated technology processes that were once left to the IT professionals are now a reality for every marketer–in any size business, industry, or region. Welcome to the era of the DIY (Do It Yourself) Marketer.

Companies like Optimizely for A/B testing, Squarespace for website creation, Unbounce for landing page generation, and Shopify for easy e-commerce are leading the DIY revolution if you want one tool or the other. HubSpot puts all of these and email marketing with automation into one tool.Business critical activities that used to take weeks (or even months) and an entire IT staff to accomplish can now be done in minutes by HubSpot. And email is no different. Gone are the days of waiting for weeks in “the email queue” while developers code your emails. You can and should own your email destiny.

In the new era of the DIY Marketer, the savvy marketer can and should use easy and effective tools to capitalize on the specific interests of patients, reaching them with compelling, relevant emails that will drive better business results. (source: Campaign Monitor)

As brand ambassadors of the practice, marketers need to make sure their email is on brand, on message, and pixel perfect. With tools such as HubSpot, you can now ensure every customer touchpoint is both engaging and brand appropriate. Our modern email service providers give marketers intuitive, easy-to-use tools to create beautiful emails without any development hassle.

 

Optimize for a Multi-Screen World

In the past, we worried about how our emails would look on several email clients. But the explosion of devices and email clients has created an insane challenge for marketers. Do you know what percent of your subscribers will open your email on a mobile phone versus tablet versus desktop? What percent will open your email on an Android versus iOS? What percent will open in Gmail? Yahoo? Hotmail? AOL? Or even Outlook 2003? What about Apple mail? The Gmail app? Or even the new Gmail Inbox?

It’s impossible to ensure your emails look good on every desktop client, web client and device. There just aren’t enough hours in the day to design, code and test for all those experiences.

Email with mobile-ready design is no longer a nice to have, it’s a must have. You need a modern email service provider that takes the hard work out of email design so you can focus on perfecting your message and optimizing your campaign. Modern email software provides you peace of mind, knowing your emails will look awesome on every screen.

Mobile-ready templates

There’s no telling where your subscriber will be when they open your emails, but there’s a good chance it will be on a mobile device. 53% of emails are opened on mobile devices. You need templates that will be automatically optimized for both desktop and mobile email clients. This means you know it will look just as great on an iPhone as it does in Outlook or Gmail or the hundreds of other devices and clients your subscribers are using.

 

Personalization

If your emails aren’t relevant to your subscribers, they’ll end up in the trash. The marketing world is buzzing about the ‘Internet of Things (IoT)’, but we should be talking about the ‘Internet of Me.’ In the age of personalization and hyper-targeting, consumers expect brands to know who they are and provide them content they care about. You have to deliver the right message, to the right person, at the right time.

Relevancy is the marketer’s secret weapon, and the fastest path to revenue. Emails with personalized subject lines are 26% more likely to be opened and marketers have found a 760% increase in email revenue from segmented campaigns.

Personalization increases open rates by 26%

personalized-email.jpg

 

The good news is that personalizing email campaigns and serving relevant content to your subscribers has never been easier. Successful personalization strategies have three components:

Segmentation

Email marketers need an efficient way to group customers by demographic information, purchase history, and browsing activity. From this information, it’s possible to tailor email messaging to specific groups. As cohorts grow larger, you can make your segments more granular.

Dynamic content

74% of online consumers get frustrated with websites when content (e.g. offers, ads, and promotions) appear to have nothing to do with their interests. Marketing content needs to adapt to individual customers’ precise interests. You can’t just send email blasts with one-size-fits-all messages. That’s why 75% of enterprises will be investing in personalized messaging in 2015.

Email automation

As businesses grow, it becomes increasingly difficult to give one-to-one attention to each customer. With email automation, marketers can easily create workflows to send personalized, timely, relevant emails to customers at the right time. In the DIY revolution, modern email platforms enable marketers to do this on their own with just a couple clicks.

 

Capitalize on the new age of analytics

90% of the world’s data was generated in the last 12 months. Sound intimidating? It doesn’t have to be. It’s an opportunity to truly know your patients and drive your practice goals. That’s why 94% of marketers are investing in data and analytics capabilities to identify customer information for targeted insights.

Split testing

Every audience is different. You must test to know what works. A/B tests can improve conversion rates by 49%. Modern email software makes it easy to A/B test your email campaign, makes adjustments on the fly and continuously improve your campaign performance.

ab-test-on-facebook.png

Campaign effectiveness

Understanding which aspects of your email campaign drive engagement and influence purchase decisions is critical. You need tools that shed insight into what your subscribers care about, what CTAs and links are driving engagement so you can improve campaign performance over the long and short term.

value To Your Medical Practice

Email marketers need to be able to deliver concrete ROI in the form of leads, monetization, and revenue—often, with shrinking budgets. With insight into what subscribers care about, marketers are better positioned to drive conversions. (source: Campaign Monitor)

 
 

Here are 3 ways to drive revenue with email marketing:

1) Decrease the cost of a sale

While successful email marketing does take time, the investment in email is a fraction of what you’re spending elsewhere to achieve the same results. As the number of competing messages reaching your prospective patient continues to increase, capturing their attention becomes even more of a game of both quality and quantity. Most prospects won’t even pick up the phone to speak with your staff until they’ve received seven to ten touches. At this point, nearly 100% of other medical practices have given up on the opportunity.

Sales Journey

Source: elementthree.com

And not for a bad reason – face-to-face meetings are expensive, as is time spent on the phone. As leaders, we need to focus on creating bandwidth for our staff so they can focus on the highest probability deals, while simultaneously making certain our prospects are receiving the touch points they require to make a decision.

The solution here, as you may have guessed, is to augment your team’s sales efforts with email marketing. Creating and maintaining an effective sales-driven lead-nurturing campaign costs cents on the dollar when compared to sales hours lost pursuing cold leads or travel dollars wasted pursuing the same.

One important caveat: sales-driven emails can’t be spammy. Simple mistakes, like sending duplicate emails or including the wrong name for a prospective patient, might be tolerated by existing customers, but they’re generally not seen so positively by your prospects.

 

2) Reactivation of lost accounts

You’ve spent a lot of effort cultivating a database of prospects and leads. You’ve met them at events and open houses. They’ve downloaded your special promotion coupons. They’ve participated in a free trial. Yet, they’re still not customers, and to make matters worse, they’re sitting in your database taking up space without taking any actions whatsoever. And just like time, space is money.

Short of calling up each individual and finding out if they’re ever going to purchase your products or service or whether they are still interested in your practice, email is a great way to “spring clean” your database and reactivate lost opportunities.

One idea is to send an email to all contacts who have not opened an email in the last six months. Give these individuals a simple task: click the link if they want to continue to receive content from you.

Exported the data of those who choose not to resubscribe (we never completely delete anything) and remove their information from the CRM and your marketing automation tool. 

Bottom line: email helps to separate the “lost” opportunities who are still willing to reconsider you from the ones who really aren’t worth your time.

 

3) Cross-sell, upsell, and add-on

As medical practices expand into new business units or through new acquisitions, cross-selling, upselling, and add-ons can be a tremendous source of untapped revenue. But often, understanding how to realize this untapped revenue is an uphill battle. While clients regard your brand very highly in one facet of their business, it might be too great of a cognitive leap for them to engage with you across the other products or services they provide. And depending on the structure of your team, your sales reps and account managers simply might not be equipped to sell outside of their core product. 

All of this is exactly why email marketing can be an effective strategy for testing the waters with your existing client base and determining which offerings certain segments might be interested in. Through email marketing, you are able to leverage insights generated at the corporate level to inform messages especially catered to groups of clients that seem like they would most benefit from additional lines of services or products.

When conducted thoughtfully, these sorts of cross-selling and up-selling efforts can be profit multipliers for medical practices, especially as the sophistication of your campaigns and your data improves. But you have to start somewhere, and that somewhere can be one or two emails.  

 

 

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