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In today’s age of chatbots and social media influencers, you might be wondering whether email marketing is still worth it for your insurance firm.
The simple answer is yes, it is.
Data shows that for every $1 you spend on email marketing, you get $38 in return. This makes email services one of the most cost-effective ways of marketing your insurance business.
Did you know that 99% of consumers check their emails daily?
However, just like other marketing techniques, email marketing has to be done right. Using an email service that provides an automated email marketing platform is an effective way to generate the best ROI.
If you want to implement an email marketing campaign or get the most out of your email marketing software, here is a list of common mistakes you should avoid to improve your marketing ROI:
1. Failing to Segment the Email List
Segmentation enables you to send e-mails that resonate well with your customers. Segmented emails have a 14.32% higher open rate than non-segmented email campaigns. You can personalize your email messages to make them relevant to your prospects and customers.
Customer data such as income, interests, buying cycle, age, and geographic location can help you with segmentation. For instance, a prospect who clicks on an auto insurance link might be more interested in getting a cover than one who doesn’t engage with the link.
2. Not Testing Your “From” Email Line
The “from” line in your email is important. Subscribers scan their emails quickly, and this line indicates whether the email is from a credible source. 46% of emails sent are opened in mobile devices, and the “from” line is prominently featured on these devices. The line is also found on the left, and we often read from left to right.
If you are looking to build a relationship with your customers, you better have an authentic and familiar name on your email “from” line. If you are using an unfamiliar name or, even worse, don’t include the “from” line, your email is likely to be marked as spam or be deleted.
Here are a few suggestions to consider using for your email’s “from” line:
- Your insurance agency’s name
- The product name
- Brand name
- Your name
- A combination of these, e.g., “Jane from ABC Insurance”
Keep the “from” line consistent and test various options to see which one works best for you.
3. Sending Emails That Look Like Ads
Your customers know your business is selling insurance policies. However, you don’t need to make it so obvious. Avoid using your emails to only push offers.
Send emails that feel like they are sent by a friend. Let your subscribers know that you are a real person. Engage with your readers and use emails that elicit responses.
Here are some tips to follow so your emails won’t sound or look too gimmicky:
- Avoid putting images in your emails
- Avoid fancy layout designs on your email
- Send emails in plain text
4. Using an Outdated Email List
About 30% of subscribers change their emails annually.
If you don’t clean your email list, you are likely to have a high bounce rate as you may be sending emails to addresses that don’t exist.
Also, you should send email campaigns that pass spam filters. This is why it’s necessary to update your email list by considering unsubscribe requests, bounce rates, and spam complaints.
Don’t be tempted to buy an email list. If you buy a list, chances are the people that you’ll be sending emails to will also be getting emails from other buyers. It is best to build your email list organically and keep updating and cleaning it to ensure the highest deliverability, engagement, and ROI.
5. Not E-Mailing Regularly
Email can help you nurture and engage your leads and prospects. Therefore, use it regularly. You can have a huge email list, but if you don’t frequently email the subscribers, your business won’t gain anything.
When you don’t email frequently, people forget about you. Think about it; your subscribers opted into your email list because they wanted to hear from you.
Schedule emails once a week or every few days. This will keep your brand on top of your prospects’ minds so that when they are ready for an insurance policy, they’ll contact you first.
6. Using Boring Subject Lines
Getting your readers to open your emails is the first step to winning them over. 56% of companies using emoji in their subject lines had a higher open rate than those who do not. Therefore, you need to craft engaging email subject lines. Boring subject lines just don’t work.
Here are a few tips on writing great subject lines:
- Use simple and clear subject lines
- Experiment with power words
- Write magnetic headlines
- Include the benefits such as a free gift or a new video in your subject line
Email marketing is worth it for all insurance agencies. Avoiding the six mistakes above is the first step to getting ROI from your email marketing campaigns.