Can You Make Bank with Email Marketing? 

Can You Make Bank with Email Marketing? 

Kayla Graham

Amanda and I have frequent conversations about email marketing. Is it overdone? Is it actually useful? How important are email lists? Scott Cunningham and Ivana Radojevic—the co-founders of Social Lite and Merchant Mastery—shared some of their thoughts in a recent episode of Content Callout.

I’ve experienced a lot of overwhelm and email fatigue from the ramp-up in communications from businesses that realized their email lists weren’t sufficient. Do Scott and Ivana feel the same way?

Triple-down on your emails: Here’s why

Scott would say that it doesn’t matter if you’re experiencing email fatigue—you need to triple down with emails. There are a lot of changes happening with ad platforms. Facebook and Google own the ad space. But Apple is threatening their security and cracking into the duopoly. iOS changes are coming. People are pointing out that even Google will be making massive changes.

So personally, Scott and Ivana have worked with clients to start advertising on Snapchat, Pinterest, YouTube, TikTok, etc., and they’re seeing success. But these are just channels. The only channel that you own is your email list. You want to use ads on social media to drive people to your email list.

Email lists drive revenue

Scott sees 20–40% of all revenue coming from their email marketing campaigns. He even had one client that made $100,000 in revenue in one day over Black Friday. Ivana has clients who’ve seen 50% of their revenue coming from emails. If they didn’t have email marketing set up, they’d be leaving significant revenue on the table. Her philosophy is to send emails until they stop generating sales.

Start with a strategy in mind

But you need to have a strategy behind every email you send. Segmenting is also huge in email marketing. Generic messages lead to fatigue and people unsubscribing. So Scott and Ivana create a segment for people who’ve engaged with their content in the last 30, 90, 180 days, etc. VIPs have their own segment. People who just subscribed will be segmented to get different emails. She recommends sending 2–5 emails a week. If each email goes to a different segment, it’s not that many. Many people are creating emails for emails’ sake and not thinking about the strategy behind it. If someone is going to open an email, there has to be an incentive or reason for them to open it.

Offer strategies for email marketing

When people first subscribe, it’s usually because you’ve given them some type of offer to subscribe. That first email should immediately fulfill the offer. The first email in a welcome series is the highest open rate most people ever get (upward of 80%), and it’s a massive revenue generator. It’s essential to get it right.

But Ivana emphasizes that not every email needs an offer. Some can be transactional in nature, and others may be about the attributes of your brand. You’re educating people about your brand, mission, why you started the company, and what you stand for. These things can be engaging as well.

Email marketing campaigns should be exciting

Ivana personally loves creating emails because she knows there’s a purpose behind every single one. She gets excited when she checks analytics and sees high open rates and click-through rates. When you see the revenue coming in from each email, you’ll start to get more excited about them.

Scott notes that there’s a game factor to it. His team is relentless with learning and growing and always trying to advance what they’re doing and improve it. You can test subject lines and other things to optimize emails.

What else do Scott and Ivana LOVE? Shopify. They’ve built their entire career around the platform. Why? Because it’s the best way for businesses to sell online and make a profit. Learn more about Shopify and why your business should be on the platform in episode #56 of the Content Callout podcast!