TMBA 220: Thoughts on Email Marketing (60% of Our B2B Customers Open Our Emails on Mobile!)

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TMBA 220: Thoughts on Email Marketing (60% of Our B2B Customers Open Our Emails on Mobile!) post image

In the process of launching and iterating on Valet Up, our new SaaS app developed for valet companies, Ian and I have been working on refining our email marketing strategies and how we can snag some extra customers and improve our closing average. On top of this, an email came in from Mark from Art Of Baseball and he asks how he can improve his email marketing to gain more customers. With the timing being as perfect as it was, we had to share our thoughts.

Listen to this week’s show and learn:

  • Why lower prices usually equate to doing your customers a disservice.
  • The tool we’re using that’s making our email marketing sizzling hot.
  • How to take advantage of the fact that 60% of people open emails on a smartphone.
  • What to do about the reality that people are being conditioned not to open your emails.
  • Calls to action: using limited space, limited time, and pre-selling.

People on this episode:

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Mentioned in the episode:

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Thanks for listening to our show! We’ll be back next Thursday morning 8AM EST.

Cheers,

 

Dan & Ian

PS, if you’d like to receive emails from us occasionally, you can put your email address into the form below:

Published on 11.28.13
  • martyn

    I’m currently trialling Constant Contact and have pretty much the same views as you guys. Looks like I’ll be heading over to Campaign Monitor to give it a try!

    Really useful walkthrough of the artofbaseball site today, prompted me with a few useful questions when reviewing my own site that I’ve made some changes on the back of.

    Do you guys purchase email lists at all or do you only use addresses collected on your site?

  • http://www.linchpin.net/ Damian Thompson

    Great stuff guys, LOVES me some email marketing.

    It was great having Dan at the Davao Mastermind, looking forward to seeing more of you in 2014, maybe the Bossman can come down for one of them. :)

  • NarayanaBS

    People even the students are now mobile savvy, they prefer to access the important information and check emails thru their smartphones.

  • http://eoinoc.net/ Eoin

    Dan, for your pricing suggestion for Hitting Academy: How come the once-off $200-$300 product suggestion, rather than suggesting a higher on-going fee?

  • martyn

    My view – if you’re selling training material as is the case here it’s difficult to ascertain the lifetime value of the customer if they are paying monthly – you don’t know if they’ll stay for 2 months or 2 years. By charging the price up front they are paying for the same value, but you’re removing that risk of drop offs.

  • http://www.estrategistas.com/ Paulo Ribeiro

    “Now we have some users out in the wild we can observe” Da Boss

    Good episode, as always.

  • http://www.stefannilsson.com/ Stefan Nilsson

    Do you reckon a one time fee (lifetime membership) to always be better than a monthly cost or was it more for this specific case?

  • http://www.stefannilsson.com/ Stefan Nilsson

    I might be an exception but go through my emails just like I go through my RSS feed. I click on the oldest email and then use the delete button or arrows to go the next. As a result, all of my emails will be counted as “opened” even though I couldn’t care less about the headline or sender. Might just be me, but certainly worth thinking about when using opt in rates as a metric.

  • http://coolmarketingstuff.com charlessipe

    Mark is doing a lot of things well. He has a lot of great social proof on his sales page like the pro players he has played against. It looks like the link to the Art of Baseball is broken. It should be .net instead of .com.

  • Justin Cooke

    Hey guys!

    Was just going to mention the link to Mark’s site is wrong, but I see Charles has already mentioned. Great advice for Mark, I thought it was spot-on.

    Great to hear your thoughts on doing the hard work + adding value upfront with Valet Up. It’s a reminder for me of the mastermind and some of the advice for us in the meeting – good stuff.

    Loved having you down in Davao, Dan. Let’s do it again soon, eh? Maybe you can even bring the bossman with you. :-)

  • http://www.nomadcapitalist.com/ Nomad Capitalist

    Me, too. Although I’m tiring of using MacMail and thinking of going back to browser-based Gmail which would avoid this.

  • http://www.steventran.net/ Steven Tran

    ValetUp,
    Your Whole Valet Operation In The Palm Of Your Hand

  • http://twitter.com/JohnMcIntyre_ John McIntyre

    I’m sure you’ve got it coming… but worth mentioning:

    If 60% of your B2B customers open your emails on their phones, they’re probably visiting the website on their phones… yet http://www.valetup.com/ is not responsive?

  • http://www.TropicalMBA.com/ Ian

    easier said than done buddy! :)

  • JakeReed

    Wow. You guys hit it out of the park with that baseball question ;)

  • http://www.artofbaseball.net Art of Baseball

    Dan, you’re the man. I was going through my daily routine while listening to this episode and heard my name come up! The advice you and Ian gave was great but I wanted to add a few things to help with some of the listeners who had questions.

    The reason for the low monthly price at $7.97 is because my strategy was to position the low investment as my USP( Unique Selling Point). My intention was to have people look at canceling as more of an inconvenience simply because of the small investment. It was a model I learned from Ryan Lee and His “nano” continuity businesses that he runs in various niches.

    So w/ that in mind, here is what I’m going to do next…

    1. Since most non-members have probably already seen the $7.97 price point, I’m going to keep it the same for now, but I’m going to provide a higher price point ticket as you suggested as a one click up-sell after they have joined with the “pitch plus” feature on Click bank.

    Maybe a $197 or $397 up-sell…

    2. I’m going to speak with my best affiliate and have him do a promotion with the new price point at $14.97 monthly while adding a live event like a google hangout to provide some scarcity.

    I’ll let you guys know how it goes.

    Thanks again Dan and Ian for your awesome advice. You guys are really great.

    Mark

    P.S. @ducedo:disqus I really do think re-occuring revenue is a great business model. It mat be hard to tell what the life-time value of a customer is but you’ll at least have a good idea of how much revenue you have coming in each month.

  • http://www.tropicalmba.com/ Dan

    cheers fixed that !

  • http://www.tropicalmba.com/ Dan

    Cheers Mark appreciate you calling in and being a great sport! Let us know how it goes!

  • http://www.tropicalmba.com/ Dan

    Case by case… would you pay 100 bucks to improve your hitting? Probably. Would you not churn out of continuity for 1 year in order to do so? That’s a bet I wouldn’t take in this case (although of course I don’t know the details). IF the monthly pricing were higher I’d feel differently.

    In general if your pricing is low and you aren’t clear on LVC, I’d go cash up front any day of the week. You can use the cash to roll out a continuity element or version of the product and set a benchmark for LVC (and therefore budget for all this marketing stuff that needs to be invested in).

  • http://www.tropicalmba.com/ Dan

    Thank you good sir!

  • http://www.tropicalmba.com/ Dan

    WARTS AND ALL :)

  • http://www.tropicalmba.com/ Dan

    LIKE

  • http://www.tropicalmba.com/ Dan

    Yessir I’ll be at the next one! Hopefully with bossman in tow.

  • http://www.tropicalmba.com/ Dan

    Good point I suspect a lot of users are opening more emails because of this.

  • http://www.tropicalmba.com/ Dan

    Thanks Paulo.

  • http://www.tropicalmba.com/ Dan

    I agree with Martyn’s perspective here, there’s not also a compelling reason why you need to keep stuffing information to solve this problem. I want to be a better hitter, I don’t want to join a website. So what’s the compelling reason the product is delivered this way from the customer’s perspective?

  • http://www.tropicalmba.com/ Dan

    they are taking over the world

  • http://www.tropicalmba.com/ Dan

    thanks DT was a great time!

  • http://www.tropicalmba.com/ Dan

    Thank you Martyn. A few times in the past we have purchased lists, but for this parking app is only people that have given us their email address as customers or prospects (when downloaded a catalog or similar).

  • http://negativeseoguy.com/ Negative SEO

    Exactly, some memberships have a shorter shelf-life than others. Having a contracted period is crucial for estimating future income. Gym memberships are a good example–high-ish cost, year long, agreements. Country clubs do initiation dues, annual fees, plus monthly dining quotas…and people fall all over themselves to join because it represents something they aspire to be.

  • Ollie Smith

    Really like listening to what you guys have to say, gives me the motivation to implement the things I know I should be doing! Been putting off doing the autoresponder for vectorfy for too long now. Time to put the Mai Tai down, drag my self off the beach and go find a cafe for a few days.

  • http://www.tropicalmba.com/ Dan

    rock on Ollie great to hear!

  • http://FoolishAdventure.com Tim Conley

    I hope you don’t mind me jumping in a month later. If your potential market has already seen the price then it is a perfect time to do a promotion. Tell your list that the price is going up to $14.95 per month and they will be grandfathered in at the current $7.95 for as long as they stay a member if they sign up by X date. My guess is that if you send a 4 email sequence for the promotion, you’ll gain a ton of new members.

  • http://www.tropicalmba.com/ Dan

    Sweet! :)

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