As the creator of a broadly used email and SMS marketing solution (eNudge) for the Australia marketplace, I thought that over the years I would see a general improvement in the way email marketing campaigns were constructed and delivered. I’m sad to say that on the whole, nothing much has changed. eNudge provides a myriad tools to help you segment, target, automate, measure and analyse, but it’s in the execution where many people fall down. Business owners and marketers get busy, and then just flick off a quick email to get a spike in sales. They are content with a spike and move on.
However, I know there is a better way … there always has been. Many marketers refer to it as lead nurturing, and email campaigns (including the eNudge Message Series functionality) are an excellent way to nurture your leads. For many years, marketing personnel have been working with a Sales Funnel model in mind – a linear movement of a potential buyer through awareness, interest, desire and finally action (buy). Lead nurturing refers to understanding where your lead is in the sales funnel, and give them the next piece of information that they need to take them to the next step in the journey; the next step closer towards being ready to buy.
I could be placated if I saw email marketing being used more for lead nurturing … more value and information being supplied, in a logical flow, engaging with potential buyers and taking them down a path to understanding and trusting you. However, thoughts even on lead nurturing have moved on …
The changing landscape of information availability via the internet including the impact of social media, and more recent research into buyer behaviour, suggests throwing out the sales funnel model and replacing it with what is being called by McKinsey as the “Consumer Decision Journey“. McKinsey research revealed that far from systematically narrowing their choices, today consumers take a much more iterative and less reductive journey of four stages: 1/ consider, 2/ evaluate, 3/ buy, and 4/ enjoy, advocate, bond. During stage 2 (evaluate) where the Sales Funnel approach says the the options get narrowed down, this in reality is where the brands most active online often replace the brands that were in the original consideration list (perhaps added to the list because of traditional advertising). The consumer’s options actually expand during this phase and the originals often get thrown out where there isn’t enough information online or customer reviews to support them.
Even more critical in what is being seen now in consumer behaviour, McKinsey discovered that during the 4th stage (enjoy-advocate-bond) more than 60% of consumers conduct online research about the products after purchase – a touch point entirely missing from the sales funnel approach. It is during this after purchase where your customer will advocate for your product or service by word of mouth, and produce online content to help future consumers in the consider and evaluate phases.
Other recent research by the Harvard Business Review team has shown that achieving the “full” sale to a B2B client is best achieved by providing the opportunity for that client to purchase small prototypes or incremental products along the buying journey i.e. as part of the evaluate stage. For more about this read: “To Increase Sales, Get Customers to Commit a Little at a Time“.
It was no small task, but the Harvard Business Review article describes an example implementation of changing the view of marketing to that of the ‘Consumer Decision Journey’ lead to a new TV becoming the top seller on Amazon.com and the company’s best performer in retail stores, far exceeding the marketers’ expectations.
To ensure that your product or service is not thrown out by prospects during the Evaluate phase of the consumer journey, and to help new customers to Enjoy, Advocate and Bond:
- Make sure your product or service is present online, not only in your own website, but also in comparison sites and marketplaces (for B2C) and online communities (for B2B)
- Foster online reviews of your products and services via social media and 3rd party websites
- Provide rich and easily accessible information online for people who have already purchased your product or service to help them get the most out of it
- Introduce new ways to inspire existing customers to refer their friends and colleagues to you – think DropBox who give away additional storage space for referring business
Your email marketing activities should assist you with with each of the above. Email campaigns should be created specifically for new customers and should point to additional online resources, and specifically ask for reviews or feedback. Email campaigns to your wider database should reference case studies and additional information available to help prospects in the evaluate phase.
If you need help with:
- creating incremental or prototype products to sell to your clients as they evaluate,
- creating additional online content,
- making your online content more engaging,
- ensuring you have a vibrant social media presence,
- ensuring your product or service can be found easily online (SEO), or
- creating email marketing campaigns that engage,
don’t hesitate to get in touch.
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