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Unlocking the Power of Newsletters
A Guide for Small Businesses on a Shoestring Budget
Jon Schindehette
January 29, 2024
Over the past couple of weeks, I’ve dedicated some time to discussing how to create a Social Media Strategy for your business. As we all know, Social Media is a powerful tool, but it is just one of the tools in your marketing tool chest.
As I was reading over my summary notes from this week’s discovery calls, I realized there have been a lot of conversations around “owned marketing”. Your owned channels include your website, app, blog, social media accounts, email, SMS, forums, and any other media that you own and have complete control over. One of my favorite tools for owned marketing is utilizing a newsletter in a brand’s marketing strategy.
So today, we’re all about the powerhouse that is newsletters - an often misunderstood and ill-used relationship-building tool. I mean, seriously, if you're not using newsletters in your marketing strategy, you're leaving money on the table. If you’ve tried a newsletter before and found it to be unsuccessful, or if you just have no idea where to start with a newsletter - fear not, we're about to unravel the secrets of newsletters, especially for you small business warriors hustling on a budget.
Content builds relationships. Relationships build on trust. Trust drives revenue.
Newsletters are not just about sending emails; they're about forging connections, driving growth, and making that sweet, sweet impact. I'll break down what newsletters are, why they're crucial, and how you can maximize their potential without burning through your budget.
So, buckle up for a ride through the strategies, tactics, and tips that will turn your newsletters into conversion machines.
By definition, a newsletter is a regularly distributed publication containing information, updates, or content related to a specific topic or industry. It is typically emailed to subscribers who have opted to receive it. Newsletters can cover various subjects, including news, trends, insights, promotions, or updates from a business, organization, or individual. They serve as a direct communication channel, allowing entities to connect with their audience, share valuable content, and build relationships. Newsletters can be used for marketing, providing educational content, or keeping subscribers informed about developments in a particular field.
One of the biggest mistakes I see brands make is using their newsletter to only push sales activities. These types of newsletters always have high churn and ultimately underperform their potential.
If a newsletter audience receives emails that exclusively focus on sales activities without providing valuable and varied content, several negative consequences may occur:
Subscriber Fatigue:
Constant sales-focused emails can lead to subscriber fatigue. Subscribers may feel overwhelmed or annoyed, leading them to disengage or, in extreme cases, unsubscribe.
Loss of Trust:
Excessive sales pitches without genuine value can erode trust. Subscribers may perceive the communication as one-sided, purely aimed at extracting sales rather than prioritizing their needs.
Decreased Engagement:
Monotonous content centered solely around sales may result in decreased engagement. Subscribers might be less likely to open, read, or interact with future emails, diminishing the effectiveness of the newsletter.
Increased Unsubscribe Rates:
A lack of diverse and valuable content can prompt subscribers to unsubscribe. If they perceive little value beyond sales promotions, they may decide the newsletter is not worth their attention.
Brand Perception Issues:
Overemphasis on sales may negatively impact your brand perception. Subscribers might see your business as solely profit-driven, potentially tarnishing your image and affecting long-term customer relationships.
Missed Opportunities for Relationship Building:
A one-dimensional focus on sales overlooks opportunities to build meaningful relationships with subscribers. Newsletters should aim to nurture connections, share insights, and establish a rapport beyond transactional interactions.
Reduced Effectiveness of Sales Campaigns:
Ironically, bombarding subscribers with continuous sales pitches can diminish the effectiveness of actual sales campaigns. Subscribers may become desensitized, making it harder for promotional emails to stand out when they do occur.
To avoid these pitfalls, it's essential to strike a balance in your newsletter content. Incorporate a variety of content types, such as educational articles, customer stories, and industry insights, alongside sales promotions. This approach keeps subscribers engaged, provides value, and fosters a more holistic relationship, ultimately benefiting both your audience and your business.
Using a newsletter as part of a marketing strategy offers several advantages:
Direct Communication: Newsletters provide a direct and personalized way to communicate with your audience. Subscribers have willingly opted in, allowing you to reach them directly in their email inbox.
Builds Relationships: Regular communication through newsletters helps build and strengthen relationships with your audience. It allows you to engage with them, share valuable content, and establish trust over time.
Audience Segmentation: Newsletters enable you to segment your audience based on their preferences, behaviors, or demographics. This allows you to send targeted and relevant content to specific groups, increasing the effectiveness of your communication.
Drives Traffic: By including links to your website, blog, or specific products/services, newsletters can drive traffic to your online platforms. This can help boost website visits, increase sales, or promote specific campaigns.
Promotes Brand Awareness: Consistent newsletter delivery reinforces brand awareness. It keeps your brand in the minds of subscribers, making them more likely to think of your business when they need products or services you offer.
Showcases Expertise: Newsletters provide a platform to showcase your expertise in your industry. By sharing valuable insights, tips, or industry news, you position yourself as an authority, fostering credibility and trust.
Cost-Effective Marketing: Compared to some other marketing channels, newsletters are a cost-effective way to reach a targeted audience. They require minimal investment in terms of design and distribution.
Measurable Results: Most email marketing platforms offer analytics that allow you to track the performance of your newsletters. You can measure metrics such as open rates, click-through rates, and conversions, providing valuable insights for refining your strategy.
As you can see, newsletters serve as a powerful tool for nurturing leads, engaging customers, and driving business growth by maintaining a direct line of communication with your audience.
A newsletter can be a valuable addition to the marketing strategy of various individuals, businesses, and organizations. Here are some groups of entities that can benefit from incorporating newsletters into their marketing efforts:
E-commerce Businesses: Online retailers can use newsletters to update customers on new products, promotions, and exclusive offers. It's an effective way to drive traffic to their e-commerce platforms and boost sales.
B2B Companies: Business-to-business (B2B) organizations can leverage newsletters to share industry insights, case studies, and updates with their professional audience. It helps build credibility and maintain relationships with clients and partners.
Content Creators: Bloggers, YouTubers, podcasters, and other content creators can use newsletters to keep their audience informed about new content, upcoming events, or exclusive behind-the-scenes insights. It enhances audience engagement.
Service-Based Businesses: Businesses offering services, such as consulting, coaching, or freelancing, can use newsletters to showcase their expertise, share success stories, and keep clients informed about relevant industry trends.
Nonprofit Organizations: Nonprofits can use newsletters to update donors, volunteers, and supporters about ongoing initiatives, fundraising campaigns, and the impact of their contributions. It helps maintain a sense of community and transparency.
Educational Institutions: Schools, universities, and training programs can use newsletters to communicate with students, parents, and alumni. It's a platform for sharing educational updates, event invitations, and success stories.
Local Businesses: Small local businesses, like restaurants, salons, or boutiques, can use newsletters to announce promotions, special events, and new offerings. It's a cost-effective way to stay connected with the local community.
Startups and Entrepreneurs: Startups and entrepreneurs can use newsletters to build awareness about their brand, share updates on product development, and engage potential customers or investors.
Professional Service Providers: Professionals such as lawyers, accountants, or real estate agents can use newsletters to stay top-of-mind with clients, share industry insights, and provide helpful tips.
Membership Organizations: Clubs, associations, or membership-based organizations can use newsletters to keep members informed about upcoming events, benefits, and community news.
In essence, a newsletter can be a versatile marketing tool for anyone looking to establish and maintain a direct line of communication with their target audience, regardless of the industry or nature of their business.
What kind of content can you use for a newsletter?
Newsletters offer a versatile platform for various content types to engage and provide value to your audience. Here are some content ideas for newsletters:
Educational Content:
How-to guides and tutorials related to your industry.
Tips and tricks that can help your audience solve common problems.
Educational articles or infographics.
Product or Service Updates:
Announcements of new products, features, or services.
Highlighting customer success stories or case studies.
Exclusive previews or early access for subscribers.
Promotions and Discounts:
Limited-time promotions, discounts, or special offers.
Exclusive deals for newsletter subscribers.
Early access to sales or events.
Curated Content:
Roundup of industry news, trends, or relevant articles.
Recommendations for books, podcasts, or tools.
Curated content from your own blog or website.
Behind-the-Scenes Insights:
Sneak peeks into your business or creative process.
Employee spotlights or interviews.
Stories about the journey of your brand or company.
Event Invitations:
Invitations to webinars, workshops, or live events.
Recaps of past events with photos and highlights.
Exclusive access or perks for newsletter subscribers.
Customer Engagement:
Polls or surveys to gather feedback from subscribers.
User-generated content or testimonials.
Q&A sessions addressing customer questions.
Seasonal or Holiday Content:
Themed content related to holidays or seasons.
Special offers or promotions tied to specific occasions.
Industry Insights:
Analysis of industry trends and predictions.
Research findings or reports relevant to your field.
Expert opinions or interviews.
Community Building:
Spotlight on community members or user achievements.
Updates on community initiatives or projects.
User-generated content or stories.
Personal Touch:
Personal messages from the founder or team.
Milestones and celebrations within your company.
Humorous or lighthearted content to connect on a personal level.
Interactive Content:
Surveys or polls to gather opinions.
Quizzes or interactive challenges.
Calls to action encouraging user participation.
Remember to tailor your content to your audience's interests and preferences. A mix of these content types can keep your newsletters engaging and valuable for your subscribers. Regularly analyze metrics like open rates and click-through rates to understand what resonates best with your audience.
How to launch a successful newsletter
Incorporating a newsletter into a small business with limited resources requires a strategic and cost-effective approach. Here's a step-by-step strategy to help you launch a successful newsletter with a minimal budget:
Define Your Goals and Audience:
Clearly outline your objectives for the newsletter. Whether it's driving sales, increasing brand awareness, or fostering customer loyalty, having specific goals will guide your content strategy.
Identify your target audience to tailor your content to their interests and needs.
Choose a Budget-Friendly Email Marketing Platform:
At Growth On A Shoestring, we chose to look at the platform that some of the largest and most successful newsletters have been using - Beehiiv. What is it that attracted us to Beehiiv? First, they have a free program available. That allowed us to dip our toes in before diving into the premium features. We also loved that our content does double-duty as a newsletter and blog-like site content. Beehiiv also offered a lot of customization and monetization options.
…and yes, for full disclosure, we are partnering with Beehiiv and earning affiliate income from our partnership, but that is because we believe in the platform so much.
You can also opt for an affordable or free email marketing platform suitable for small businesses. There are lots of options available for creating a digital newsletter. Most email platforms can be used to create and send your newsletter - platforms like MailChimp, Brevo, or MailerLite offer free plans or cost-effective options for limited subscribers.
Build a Quality Subscriber List:
Leverage existing customer contacts and encourage sign-ups through your website, social media, or in-store.
Offer incentives like exclusive content, discounts, or a free resource in exchange for subscriptions.
Create Compelling Content:
Focus on creating valuable, relevant, and engaging content that resonates with your audience.
Repurpose existing content from your blog, social media, or website to save time and resources.
Consistent Schedule:
Establish a consistent sending schedule based on your capacity. It could be weekly, bi-weekly, or monthly, depending on what you can sustain.
Consistency is key to building trust and keeping your brand top-of-mind.
Simple Design:
Leverage User-Generated Content:
Encourage customers to share their experiences or testimonials. This not only adds credibility but also provides content without additional effort.
Feature customer stories, photos, or reviews in your newsletters.
Maximize Social Media Integration:
Cross-promote your newsletter on social media platforms to increase visibility.
Share snippets or highlights from your newsletter content to drive traffic to your email sign-up.
Monitor and Analyze Metrics:
Regularly review email metrics such as open rates, click-through rates, and subscriber growth.
Use insights to refine your strategy and focus on what resonates most with your audience.
Engage with Subscribers:
Encourage two-way communication by inviting feedback, responding to replies, and addressing subscriber questions or concerns.
Foster a sense of community by involving subscribers in polls or surveys.
Explore Low-Cost Marketing Tactics:
Utilize low-cost marketing tactics like referral programs or partnerships to expand your subscriber base.
Collaborate with complementary businesses for cross-promotion.
Iterate and Optimize:
Continuously iterate and optimize your strategy based on performance data and subscriber feedback.
Experiment with different content types, subject lines, or sending times to find what works best.
By implementing this budget-friendly strategy, you can effectively leverage newsletters to enhance your small business's marketing efforts without exceeding limited resources.
Growing your newsletter audience on a budget involves creative and strategic approaches. Here are some effective ways to expand your subscriber base without a significant advertising budget:
Optimize Website Sign-Up:
Place prominent and compelling sign-up forms on your website, including landing pages, blog posts, and exit-intent pop-ups.
Clearly communicate the value of subscribing, such as exclusive content, discounts, or useful resources.
Use Social Media Strategically:
Leverage your existing social media channels to promote your newsletter. Regularly share posts encouraging followers to subscribe.
Host giveaways or contests with newsletter sign-up as a requirement for entry.
Cross-Promote with Others:
Partner with complementary businesses or influencers in your industry for cross-promotion. Share each other's newsletters or provide shoutouts to reach new audiences.
Collaborate on joint content or promotions to mutually benefit both parties.
Leverage Email Signature:
Include a call-to-action and a link to subscribe to your newsletter in your email signature. Turn every email interaction into an opportunity to grow your audience.
Create Shareable Content:
Develop shareable content on your blog or website. When readers find value in your content, they're more likely to share and recommend it, driving organic growth.
Add social sharing buttons to your newsletters to encourage subscribers to share with their networks.
Utilize Referral Programs:
Implement a referral program where existing subscribers can earn rewards or benefits for referring friends or contacts who subscribe to your newsletter.
Make it easy for subscribers to share a referral link.
Host Webinars or Virtual Events:
Organize webinars or virtual events related to your industry or niche. Require attendees to subscribe to your newsletter for access.
Promote these events through various channels to attract a broader audience.
Guest Blogging:
Contribute guest posts to blogs or websites in your industry. Include a call-to-action in your author bio directing readers to subscribe to your newsletter for more insights.
Ensure that the content you contribute is valuable and aligns with the host site's audience.
Create Lead Magnets:
Develop high-quality lead magnets, such as ebooks, guides, or templates, and offer them as incentives for subscribing.
Promote these lead magnets on your website, social media, and other relevant platforms.
Networking Events:
Attend industry-related events, both online and offline, to network and connect with potential subscribers.
Collect contacts and invite individuals you meet to join your newsletter community.
Optimize Email Content for Sharing:
Include social sharing buttons within your newsletters to make it easy for subscribers to share interesting content with their networks.
Encourage subscribers to forward the newsletter to friends or colleagues.
Encourage User-Generated Content:
Create campaigns or challenges that encourage subscribers to create and share content related to your brand. Feature this user-generated content in your newsletters.
Offer incentives, recognition, or exclusive access for those who contribute.
By combining these strategies and consistently promoting the value of your newsletter, you can organically grow your audience without the need for a substantial advertising budget. Remember to track the effectiveness of each method and adjust your approach based on the results.
BONUS CONTENT:
How can you monetize a newsletter?
Monetizing a newsletter involves leveraging your subscriber base to generate revenue. I have identified 14 strategies to monetize your newsletter. If you would like to know more about monetizing a newsletter, download the PDF:
Let's recap the essentials:
We've learned that newsletters aren't just emails; they're your direct line to building connections, fostering brand loyalty, and driving growth. Don't fall for the myth that a massive subscriber list is the golden ticket. It's the quality of engagement that truly matters.
So, here's the deal – craft content that resonates, engage with your audience authentically, and find that sweet spot between promotions and value. Your subscribers are your community, not just leads.
Now, my call to action for you:
Share this knowledge!
Spread the word, leave a comment, shoot me an email – let’s keep the conversation going. And if you're up for it, schedule a meeting. I'm here to answer questions, dive deeper into strategies, or just chat about the incredible world of marketing.
But wait, there's more!
I’m looking for your feedback! On LinkedIn, I posted a poll to find out what is your organization’s biggest pain point. Monday is the final day for the poll. Hop into the discussion and tell me what your pain point is. Your vote will give me some direction for my next few articles on Growth On A Shoestring. Right now, “Budget-wise content creation” is the number one pain point that is being called out. Make your opinions known!
Until then, keep innovating, keep hustling, and let's rock the world of newsletters together. Stay tuned for more insights, more strategies, and more actionable tips. Cheers to your small business success!
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