What is the Funnel Method? How can it change your email marketing strategy?
The Value of Building a Database
Email marketing is an amazing way to build your customer database.
When launching a new product, the value of your database is huge. Especially if you are crowdfunding and need to build momentum early on, having a mailing list of engaged leads is a great way to incentivise early sales.
Even in your market research stage, you can test advertise and use the Sign Up call to action to foster early engagement.
For GDPR reasons, you are only allowed to contact email addresses you have received permission to send to. Read more about this here.
When sourcing email sign ups, it is important to clearly define the benefit of signing up and what this will entail.
Similarly, with every email you send, we recommend having a key goal or purpose for writing. Sending promotional emails without any news or offers typically have a lower open rate.
The most common way to structure your email is The Funnel Method.
The Funnel Method
The Funnel Method refers to the process of converting a potential lead into a loyal customer via a sales funnel.
Firstly, the lead starts at the top of the funnel, called the Awareness stage. The Awareness stage is when the lead first registers interest in your brand and engages with your content.
Advertise your product as the solution to your lead’s needs, encouraging them to engage and find out more. Make sure to check Facebook’s Advertising Policy if you are targeting specific target groups however.
The goal here is to make your name heard and encourage leads to sign up to learn more.
Then you have the Consideration stage. This is the point at which the lead is considering your product or brand as a viable purchase, researching the market and seeing if it is the right fit for them.
Once persuaded, they reach the Conversion stage, becoming a customer. They purchase your product and wait for it to arrive.
A lot of leads may drop off after this stage. However, the key to retaining loyal and long-lasting customers is giving them a reason to stay engaged with your brand.
The Loyalty stage is perhaps the most important. This is the point where the customer will maybe follow you on social media or engage when you have a new launch.
They want to hear what you do next and maybe support you again. A large part of this is their trust and love for your brand, read more about this in our blog on relationship marketing.
Ultimately, if they really love what you do, regularly engaging with your content, they’ll want to shout about it! This is the ideal end stage, where they become a dedicated customer who is willing to advocate and recommend your brand to their friends.
How does this apply to Email Marketing?
The Funnel Method is really important for email marketing, as you can trigger email events depending on where your customer is in their buying journey.
If they’re at the top of the funnel, send a welcome email. Let them know they’re welcome and where they can find everything.
Once they’re considering your product, maybe they like your page or have something in their basket – trigger a response. Whether that’s a reminder, or a cheeky discount, you can encourage them to come back and look again.
Yay! They’ve made a purchase.
Thank them! Send them an email to thank them for supporting you and offer a discount for next time. Maybe suggest some similar products they might also like.
Once they are a loyal customer and have come back again, send them a thank you to show you have recognised their support. Ask them to share a photo on social media. Read more about the value of social media.
A great way to encourage brand advocacy is to add a referral system to your website, sending an email with a referral link is a great way to extend to more people.
Whether it’s a discount for the customer, their friend or both – they’re more inclined to come back!
Keep your leads up to date
Once you have a bustling database of customers, send them emails that are relevant to them.
This could be a monthly newsletter, or shop updates. Incentivise your customers with discounts or early looks at your new releases. They love a behind-the-scenes!
Personalise your emails with name tags so they feel valued. According to The Marketing Minute, 50% of companies receive a higher open rate for emails that directly address their recipient in the first line.
Particularly for crowdfunded projects, email marketing is very important to ensure you have a crowd ready before you launch.
The more people that have entered the funnel, the more likely they are to convert early on.
Share early access to important prototype updates, ask them questions and answer them too.
We hope that this has given you an insight into the beginnings of email marketing strategy.
If you have any questions, please feel free to reach out to us.