EDM: A Journey Towards Successful Conversions With Email Marketing

Email marketing has become an integral part of targeting prospective clients and building a bond with them online. In fact, e Marketer reports that 97% of small businesses use email marketing to connect with customers.

Electronic Direct Marketing (E.D.M) envisages the marketer marketing his products & services by sending emails targeted to a specific list of consumers. It is a type of advertisement campaign wherein the marketer targets the desired group of individuals depending on the product being offered in order to maximize the conversions.

Email marketing was initially tagged as spam and too salesy. However, the rising importance of online marketing and advertising has helped annul that perception. Companies these days are investing more in EDM’s and the response rate has also been on a rise like never before.

In the current scenario, EDM has become an integral part of business marketing strategy. Since it can be targeted to desired customer group, majority of small businesses are turning to this form of marketing to get in touch with their customers and offer their products & services to them. An EDM campaign is measurable, this is another major advantage which helps the marketer to understand the minute details of his customer base.

Email marketing can be turned into a success by considering some factors;

• Subject line:

To begin with, one must provide an eye catching and accurate subject line to the mail. Mails with a vague subject line would hardly be read. Certain words like free, buy now, subscribe now etc need to be parted with, if you do not want to find your mail ending up in the recipient’s junk box.

• Content:

It is the most important aspect of any email. If the content of the newsletter is not appealing, the recipient would snap out of it within no time. Good content is niche to keep him glued to the mail.

• Call to Action:

Call to Action is the next step in bridging the gap between the business and the client. It is the action which you want the recipient to perform after going through your email. If the ‘call to action’ process is complex, it will reduce the chances of successful conversions. Hence easy navigation is the key to simplify the process.

Further, the success rate also depends on other endogenous factors like the format of the email. If the format of the newsletter is complex and difficult to navigate, it reduces the possibility of a conversion. Bringing in personal touch by addressing the consumer by name also largely contributes in the success of an EDM. Providing relevant links leading to relevant pages, the timing of the mail being shot, the target audiences for the EDM etc. contribute towards the success of an EDM campaign, and in turn have significant impact on sales.

Advantages

Email marketing helps you understand what type of consumer is interested in your product, what kind of product interests him. This analysis helps alter the business strategy favorably. Some of the advantages are as follows:

1. Highly targeted:

Direct mailing can be used to target specific set of individuals by developing lists of email ids matching your product segment. It is possible to reach any market segment or buyer profile most appropriate for your business.

2. Measurable:

One of the greatest advantages of EDM is the accuracy with which it can be measured. The marketer can gauge the performance of an EDM campaign precisely by monitoring and analyzing certain metrics like open rate, bounce rate etc, which are explained further in the article.

3. Cost effective:

EDM is much cheaper as compared to conventional means of marketing, and since it can be targeted to desired group of individuals, it helps utilize the budget optimally.

4. Personal Reach:

Mail merging techniques can easily help add a personal touch to the email by addressing the potential customers by name. This has a significant impact on the reader than when addressed in general.

5. Better conversion rates:

The response rate to personalized mails is usually higher than other mediums of marketing. With the response rate being high it leads to better and quicker conversions. Not only is direct mailing cost effective but it also yields a high conversion rate.

Disadvantages

Unsolicited mails:

One of the main drawbacks of e-mail marketing is that some companies use it to send unsolicited bulk email known as spam. Since the volume of spam is huge, it sometimes leads the recipient to ignore a genuine mail from spam. Though email providers are doing their best to prevent spam, it is sometimes difficult to distinguish between a genuine mail and a spam.

Hoax Email ids & delivery problems:

An EDM campaign will be ineffective if the opt in email ids are not genuine. Delivery is another major issue causing hindrance. According to a report, only 56% of mails get delivered in the US. To prevent this, dead weight mail ids must be cleared frequently.

Spam Filters:

Spam filters installed by email providers in order to avoid spam messages also act as an obstacle to legitimate email marketers.

Now to understand the exact impact of EDM on the conversions, branding & advertisement; tracking and analysis of every campaign needs to be done. Certain metrics listed below need to be regularly monitored to gauge the performance.

• Firstly, in order to know how many people have actually opened the mail, one must take a look at the open rate. Open rate gives you the percentage of people opening the mail.

• Secondly, you need to monitor call-to-action, ie the percentage of people responding to your call-to-action, to obtain the conversion rate.

• Further you also need to keep a check on the bounce rate, which provides a list of emails that fail to get delivered. Such dead weight mail addresses need to be cleared frequently in order to ensure an effective EDM campaign.

How to Find Great Live Auctions for Resale Items

Hi, my name is Walt. I’m an auctioneer with 25 years of experience in the auction business and licensed in the state of MA. I own Quick Auction Service, a company that specializes in building and running custom auctions, I’m also the webmaster of my own site and have been on eBay for 8 years. Besides eBay, the types of auctions I run most frequently are antiques and on-site estate auctions, although I’ve run everything from business overstock auctions to charity & special event auctions.

I enjoy sharing my knowledge and stories of the auction business. My goal for article is to help folks get the absolute most out of their auction experience.

Whether your fresh out of the package or a seasoned dealer I think I can offer something in this article to help you with your auciton adventures.

There may be as many reasons to attend auctions as there are types of auctions to attend. Maybe you want to attend an auction to buy items for re-sale on eBay, or some other market. Maybe you want to furnish your home with wonderful antiques, or you want to furnish your home as inexpensively without sacrificing quality.Some folks are just looking for a fun night out. With a little perseverance all these things are possible.

There are antiques and estate auctions, auto auctions, overstock auctions, absolute and no reserve auctions, real estate auctions, specialty auctions where only one genre of items are sold, tailgate auctions, live auctions, online auctions, sealed bid auctions, silent auctions, charity and fund raising auctions and many more.

Can you really buy for pennies on the dollar at an auction? You bet! Many times I’ve seen folks buy and re-sell at the same auction on the same night for a good profit, although be advised, this should only be done after the auction is over.

There are a lot of ways to find an auction, but here are some tips on how to find and attend the best ones.

Visit the genre of shops in the area that apply to the type of auction you want to attend. IE: If your looking for a good antique auction to attend, stop in the local antiques shops and ask for what there are for good auctions in the area. Sounds obvious right? But listen to what they don’t say as well as what they do say. Oftentimes when a dealer speaks poorly about an auction he or she attends, it may be likely that they are trying to keep a good thing secret. Think for a moment, why would a dealer keep attending a lousy auction?

Newspaper ads: I personally like to find ads in the classified ad section rather than flashy display ads. Flashy ads are usually indicative of an auction that will be high priced, may have reserves, (a set price on an item), and usually an enormous crowd. While any auction can be profitable to attend, it is usually best to steer clear of the glitzy ones, at least for the beginner.

Here’s the minimum you want to find out before you go. If there is a phone number in the ad, call and ask for the terms of the sale. What forms of payment do they accept? Is it an absolute auction? An absolute auction is one that has no minimum or reserve bids on items. These are the best auctions to attend! Is there a buyers premium? A buyers premium is like a tax that everyone who makes purchases at that auction must pay above the winning bid price. Most auctions these days do charge a buyers premium, 10% is not unreasonable but I feel much more than that is greedy, and the auctioneer that charges over 10% is counting on most bidders not doing the extra math as the bids quicken in pace.

A fair auction will have ample time to inspect the merchandise, usually at least 2 or 3 hours. Find out when inspection starts and make sure to attend! Never attend an auction if you can’t make the inspection, not unless your prepared to gamble. Most auctioneers sell at a rate of about 100 items per hour, which is why they sell “as is”. They simply don’t have the time to give a detailed description of all the items. Since almost all items at auction are sold AS IS, there are sure to be some damaged, refinished, fake and incomplete items at any given auction. Beware of any auctions that offer very little or no inspection time.

Good auctions will usually have 150 to 400 lots. A lot may be one item or a group of items. The exception to this are specialty auctions, auto auctions, real estate auctions etc.

When you attend your first sale, take note of the 1/2 dozen or so dealers that buy the most often. See if you can find out about other area auctions they attend.

When you do find an excellent auction, attend it as often as possible. By frequenting good sales, you help increase the bottom line of that business. It’s difficult for many auctioneers to keep the quality of merchandise consistent, so good attendance certainly helps. And when an auctioneer gets to know you as a buyer, he/she will go out of the way to accommodate you, to keep you coming back.

Real Estate Auctions – The New Land Rush

On a sunny afternoon in Florida, an energetic crowd gathers on the lawn of a high end luxury estate. A loud and eager banter between an auctioneer, a group of bidders and bidder assistants fills the air. For several minutes the auctioneer asks for the next highest bid and the bidders respond. Suddenly the bidders grow silent. The high bidder holds his breath in anticipation of winning the auction. The auctioneer calls for one more bid. In a loud clear voice which rolls over the audience he says, “Fair warning, last chance” the auctioneer pauses, “SOLD!” And in less than 10 minutes another multimillion dollar estate has changed owners.

Successful real estate auctions like the one above are happening all over North America and the Caribbean. Recently real estate auctions have been on the rise, the increase in popularity is partly driven by growing inventories and fading buyer confidence. Properties that were selling in weeks using traditional methods are now languishing on the market unable to attract buyers even as seller’s lower prices. Many say the real estate boom is over but savvy buyers and sellers are profiting from real estate auctions.

Real Estate Auctions Work in Up or Down Markets.

Regardless of trends or market cycles, real estate auctions provide an open and transparent process for buyers and sellers. Properly conducted real estate auctions attract ready and willing buyers and motivate them to act now.

The auction method removes the “wait and see” attitude which serves to further depress real estate values. Buyers are always concerned about overpaying. Buyers gain confidence with their purchases at real estate auctions because they can see what others are willing to pay.

When market demand is high and inventories low, real estate auctions can deliver selling prices well above what a willing seller would have accepted in a negotiated private treaty sale. In good selling climates many property owners using traditional real estate methods; negotiating with one buyer at a time, leave thousands of dollars of equity on the table. During up markets real estate auctions are the best way to establish top market price.

Evaluating Your Real Estate for Auction

Not every property or seller for that matter makes a good candidate for auction. First of all sellers must be ready to sell now and for the current market value. Also a real estate auction will not fix problems caused by a downturn in market value of your property, if you owe more than a willing buyer will pay, be prepared to come to closing with your check book.

Properties that do well in real estate auctions have a high uniqueness factor. Ask your self, “What makes my property different from most others?” Maybe you own a resort property or high end luxury home, commercial properties and land do very well at auction. Real estate auctions thrive on uniqueness. If your property is like everyone else’s, the best thing you can do is offer the most competitive price.

Most importantly sellers must be reasonable about setting a minimum bid. A seller must look at the lowest, most current comps and price below that to generate the interest and urgency necessary for a successful real estate auction. Once the auction begins and qualified bidders start competing against one another you can watch the selling price increase.

Locate a Qualified Real Estate Auctioneer

Start by checking with the National Auctioneers Association, the best real estate auctioneers belong to this organization. These real estate auctioneers are well trained and adhere to a standard of practice and a code of ethics. Many attend the annual International Auctioneers Conference where the latest techniques and innovations in the real estate auction industry are presented.

Find out if the company you are interviewing is a full time real estate auction firm. Many real estate agents are getting auction licenses yet have no experience with the auction method of marketing. Conducting a successful real estate auction is nothing like (private treaty) traditional real estate sales. Go with a real estate auction pro.

You’re probably better of with an auction house that specializes in real estate auctions. There are many qualified auctioneers who have generations of experience selling personal property; furniture, dishes, lawn equipment and the occasional rare painting. Selling real estate at auction is a complex matter that should only be attempted by full time experienced real estate auction professionals.

Commissions and fees may vary, sellers must pay all marketing expenses up front and buyers typically pay 10% of the sales price to the auctioneer of which a share goes to participating real estate agents.

Types of Real Estate Auctions

Auctions are effective because they create a seller’s market. Professionally conducted real estate auctions create urgency, a reason to buy today and competition for the property. Terms and conditions of sale are established ahead of the auction. Real estate auctions will follow one of these three approaches:

Absolute Auction

The property is sold to the highest bidder regardless of price- using this process often returns the highest sale price.

Minimum Bid Auction

Seller agrees to sell at or above a published minimum bid price – this method is useful for internet auctions.

Seller Confirmation or Reserve Auction

With a reserve auction, the seller “reserves” the right to accept or decline any bids usually within 48 hours of the auction. Reserve auctions are used when there is a lien on the property from a lender or a court ordered sale with a minimum selling price.