Marketers working in financial services need to provide results as well as meet various compliance regulations. Email marketing is an incredible tool that reaches your clients quickly, at a scale and it provides real-time tracking. To drive higher client engagement in your next email campaign, follow the 5 steps below.
1:1 Relationships Are Essential
Asset management is a tough industry to promote to: clients require a really delicate relationship with their asset managers and demand the highest level of service and care. Asset managers are facing enormous challenges in creating marketing campaigns that nurture trust and security, no matter the approach.
However, email marketing has one great advantage over the other online advertising channels such as display or search – email can be personal. When creating your email campaigns you need to have a single client view in mind. Despite it being sent to a group of people, your email needs to be personal to each of the recipients. This means that in order to get client engagement you need to create campaigns not as mass-deployments, but as a way to build one-to-one relationships.
Personalisation will help you achieve that – it’s one of the important factors that drives readers to keep opening and clicking on your emails. You can learn more about personalisation here:
Powerful Subject Lines
Subject lines are one of the front-facing features of your email that drive engagement. Subject lines play a pivotal role in getting your clients to open your emails, which is the first step to conversion. Unfortunately, many marketers underestimate their importance.
If your metrics indicate that your email campaigns get deleted instantly, this might show that the subject lines aren’t doing their job. Subject lines need to be relevant and also offer value – it’s not easy to put all that in about 50-60 characters.
Our most recent digital marketing survey has found that majority of professional investors want more interesting subject lines. So, if you aim to drive more engagement, make sure you create catchy and powerful subject lines.
Learn more about subject lines in email marketing:
Master The CTAs
First of all, make sure your emails have a call to action – you’d be surprised how many still don’t! Email shouldn’t be the last step in your client’s digital journey. In fact, it should offer clients a possibility to find out more by clicking on your links.
The purpose of a CTA is to drive clicks and engagement. You should create CTAs that convert openers into clickers. If your clients don’t see a call to action, or if it’s not motivating enough, they will soon abandon your email. If your design guidelines allow it, test different colours to measure which one works best. You may even find that one colour boosts your client engagement in one type of communication, but doesn’t work as well in another. Also, test CTA locations – offer one above-the-fold, and even add a link the pre-header.
Are you using text links or creating buttons? If you’re still asking your designer to produce image buttons for your emails it is time to make a change and build powerful HTML buttons.
Here are a few tips on how to create bulletproof HTML buttons.
Analytics Are Essential
In order to continuously offer value to your clients and in return get high engagement, you need to analyse the performance of your email marketing campaigns. Marketers instantly look for positive engagement signs – increase in opens and clicks, and compare them with their KPIs. But you should also use advanced analytics to better understand recipients – engagement time, known as read score, is one of the metrics you need to watch.
It is also important to monitor negative engagement data such as unsubscribes and abuse complaints (marking as spam). Very short read time shows negative engagement too – this means that your clients delete the email without reading it. All data is valuable – even the negative one can bring important insight.
Understand your unsubscribe rate – how many clients or leads do you lose in one deployment? High unsubscribe rates are may indicate that it is time to update your clients’ preferences or at least make some changes in your emails.
Learn more about advanced analytics:
Give Clients Control
To keep high engagement in email campaigns, asset managers should find out what their clients really want. The best way to do that is to let them make the decisions. Not all asset managers offer preference centres or subscription functionalities yet, despite their vast implementation across all other industries.
There are several types of preference centres, but the most well known are: time-based, content-based and hybrid. The advantages are great – clients can modify the frequency of emails they want to receive; they can select what type of content they would like to see – which asset class or even which fund is interesting to them. Maybe they want to hear only from one portfolio manager and not another? You can find all of that out, and more!
Preference centres can give you endless possibilities. If you really want to send the right amount of emails, with the right content to the right people – that’s the way to go.
Find out how to hone your clients’ preferences:
StoneShot can help you increase clients’ enagagement with your campaigns. Don’t hesitate to get in touch at firstname.lastname@example.org.