Still Relevant: Email Marketing for Family Businesses

With technology at the forefront of modern communication, more and more people are turning to the Internet to stay abreast of the latest news and information. Likewise, many of today's consumers use the Internet to find the best prices and to conduct research when they're planning their next purchase.

What does this trend mean for your family business? The right technology can transition any company from the outmoded idea of counting transactions to the modern strategy of cultivating relationships. If you haven't yet fully embraced technology as a significant part of your overall marketing strategy, it may be time to do so.

Perhaps one of the easiest and most cost-effective ways to meld technology and marketing is email. Email campaigns, such as e-newsletters and promotions/special offers, can not only deliver big results, but also provide a more efficient and less intrusive marketing/advertising option than snail mail or phone calls.

Seven Key Benefits of Email Marketing

1. ‍Branding. A well-designed campaign casts a favorable impression of your brand on each email recipient.‍
2. Relationship Building. Email is an effective marketing tool for keeping your company "top of mind" with existing customers and building awareness about your products and services with prospects. It's also useful for reaching lost customers and regaining their business.‍
3. Loyalty. Ensuring satisfaction beyond the initial purchase creates loyalty, which can keep customers coming back for the short term and the long term. As an added bonus, satisfied customers often refer friends and family.‍
4. Greater Response Rate. Email response rates, particularly for highly targeted messages, are significantly higher than direct mail.‍
5. Better Return on Investment. Because there's nothing to print or mail, email marketing is less expensive than direct mail. And, because it costs just a few cents per email, as opposed to dollars per direct mail piece, you can likely afford to increase the size of your mailing list.
6. ‍Timing. As the old saying goes, timing is everything. Email marketing allows your company to select the exact moment your message will be delivered.‍
7. Results Tracking. Most of today's email marketing platforms enable you to track who's opening your emails and clicking the links.

Best Practices in Email Marketing

Whether you're new to the concept of email marketing or already familiar with the process, there are a number of best practices to keep in mind for optimal success.

• Develop / Maintain a Good Email List

Collecting and maintaining email address information is essential to success. With this in mind, there should be a coordinated effort between the various departments within your family business to handle this endeavor.

• Choose a Delivery Method

Thinking about using your company's email server or customer relationship management (CRM) platform to send emails? Think again. Content filters used by Internet Service Providers (ISPs) to block spam messages decrease the odds of your email reaching its intended recipient. To circumvent this, you must be added to each ISP's white list or use an email marketing service.

• Adhere to Spam Laws

Be sure to adhere to the current spam laws, including offering the ability to opt out of receiving future mailings. Federal Trade Commission fines for noncompliance can be hefty.

• Add Value

Email marketing is permission based, meaning that recipients have the right to "opt out" of receiving your communications. In order to retain the right to send email, you must provide something of value. Too many promotional offers can be counterproductive. Often, the best strategy is to alternate between sales-oriented and informational messages.

• Have a Strong Subject Line

Your target will decide in less than a second whether to open your email based on several factors, including the subject matter, the quantity of email already received, and his or her own time constraints. Eliminate competition at the inbox with a clear, concise subject line. Personalization is also effective when it comes to moving your email from received to read.

• Put Creative / Branding into Perspective

Consumers are more responsive to email communications that are sent in a consistent format, so it's important to develop a template for your business that will allow you to change the content, yet maintain brand identity. That said, it's also important to apply traditional direct marketing principles, which suggest that response opportunity comes from the list (40%) and the offer (40%), with only 20% attributable to the creative aspects. In addition, email needs to be designed with the understanding that many readers will view it on a mobile device.

• Set a Delivery Schedule

While it's important to keep your brand name at the forefront, too many messages can lead to opt-outs.

• Follow-up

Structure follow-up procedures for all lead types ahead of time. After all, each one represents a possible sales opportunity.

• Review Results

Regularly review the results of your email campaigns and use the data to improve future communications.

In a technologically savvy culture where choices abound, keeping your family business visible to customers and prospects is essential. If you're not engaging in email communications to do this, you may be missing out on a tremendous opportunity to cultivate relationships in a cost-effective manner.