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$1B Email Marketing Strategy Gone Wrong
+ more in this weeks edition
Hello & happy Monday (depending on where you are)
Today’s newsletters is one of my favourite so far. Here’s what you can expect;
Why the email strategy of a $1B business is flawed
The deliverability trick that is saving brands
The best email I saw last week
Let’s get into it!
Insight Of The Week: Just because a brand is big, doesn’t mean there strategy is good
Many people associate big with ‘good’.
If a brand is big, or worth a lot of money, there strategy by design must be good.
I mean, it’s what got them to be so big, isn’t it?
Yes, to an extent.
But strategies evolve. The market evolves. New information is forever coming to light and marketing is forever changing.
A brands success or valuation is more often than not a lagging indicator of previous marketing efforts/trends.
Which certainly doesn’t mean it’s still going to work into the future. This is exactly why you see huge brick and mortar businesses falling like dominos.
One brand in particular that has caught my eye is Myprotein, and there email strategy.
In my opinion, they’re leaving a ton of revenue on the table. 8-figures+.
This is a snippet of their subject lines.
Myprotein is forever just offering 40%. By design, they’re only appealing to people who are willing & ready to buy protein, right?
If you’re not in the market for protein, no discount is going to persuade you (except a select few bargain hunters).
And for most people, their email list is comprised of about 3-6% of people who are willing to buy, and 94%+ of people who are interested in the niche (or were at some point), who are not currently in the market for said item.
So, each email is only appealing to the 3-6%. Since their email list is probably millions of people long, they’d be making a ton of sales.
But, they’re relying on external market factors to make the other 94% “problem aware”, or ready to buy.
When they could bring this further into their control, and start the nurturing process.
If you know that 90%+ of your list needs nurturing
Why not do that?
You're not going to exclude the keen buyers in the short-term. You can still advertise offers to them. And they will still purchase.
But if you produced more content appealing to the masses, wouldn't you make more sales like this? Especially over the long run?
Think about it
Say you manage to engage ~30% of people from that "Needs to be convinced section" and over the course of 60 days, you move 10% of those into buy now, and half of them end up buying from you.
If that list is 500,000 people
150,000 now reading and engaging emails
15,000 now pretty keen to buy some protein after 60 days
7500 extra sales for you
at an AOV of say $60
That's nearly an extra $500K in revenue in 2 months
The game of email marketing is not "how can we make more sales"
It's "how can we convince the most people on our list that they have a problem, and we can solve it"
This Weeks Top Links
The #1 Email Strategy In 2024 (Youtube Link)
Complete Ecommerce Email Ecosystem (Flowchart Link)
Incase you saw the “Gmail is closing” hoax, here is reassurance: (Article Link)
Sponsor Of The Week: Mailtimers
Countdown timers can lead to a giant increase in click through.
Next time you’re running a sale, product launch, or other event look no further than Mailtimers.
Actionable Tip Of The Day
Most stores have written blog posts for SEO purposes.
Don’t let these go to waste!
You probably have a goldmine of usable email content.
Go to your blogs, and do 2 things;
shorten the blog to less than 500 words and deliver it over email
this is best for blogs in list form or have X amount of key points
write a 50-100 word snippet of the blog and then make people head to your site to read the entire thing
great for blogs that deliver long form value
This is an easy way to buff out your email content schedule.
As a bonus, find a way to subtly integrate your products as these types of emails can also be great for making sales.
— Angus Cowan
How I Can Help You
Looking for additional help? Here’s where to look:
I’ll be making a TON of content on YouTube this year. If you’re someone who enjoys videos, be sure to check it out and stay tuned for practical Email Marketing help.
Follow me on Instagram for regular short form content.
Book a scope call - We’ll dive into your current situation and see if there is an opportunity for us to help you. At the very least, we’ll give you an action plan.