Budget Cuts? The Marketing Tool You Should Never Cancel
You might be taking a look at your end of year expenses and decide to off-load a few of those fun digital marketing tools you signed up for before 2016. Great idea. Except one particular marketing tool should never be on the chopping block.
It’s almost the end of the year! Have you looked at your P&L statements?
P&L. If you don’t know what that is, get familiar. Profit and loss.
Loss is what we’re looking at today because if you are checking out the expenses that you expended upon in 2015, maybe there’s some things that shouldn’t be there next year. Mmmmmhmmmm!
The membership economy has absolutely made us subscribe much more easily to tools that we think will be really really useful. But then, they go unused, unfortunately.
We want to make sure that we clean up that expense report going into a brand new year. But before you go offing every, single marketing platform you signed up for that just happened to show up as the hot, new thing, there’s one marketing tool that you should absolutely never cancel.
It’s not your social media scheduler. It’s not even your website’s hosting company. The one marketing tool that you should absolutely NOT cancel — and if you decided to move to another provider, you do so very carefully — is your email marketing platform.
You absolutely cannot get rid of your email marketing. This is the most important thing you could possibly be paying for in your digital marketing strategy. Period. PERIOD.
So if you find yourself saying ‘I’m paying for this email list but I think it’s too much money and I don’t know why I’m paying for it and I think we should just get rid of it’, you are not going to be successful with online marketing. If you are not using your email list to make money in your business, to grow the lead funnel, then WOW STOP TWEETING AND STUFF.
This is literally the space where that is going to happen. When you have your perfect customer’s contact information and a way to nurture the relationship with them and make them think about working with you or buying your product. That’s important.
When I say “be careful” switching to a new email provider, maybe you do want to go with one that’s more cost-efficient or maybe it’s one that’s more robust because you’re growing into a new one, you need to be very aware of what that transfer process is going to be like. Both for you as the business and for the end user when they start getting emails from you from a different email marketing provider. None of us likes to go into spam, so we need to try to prevent that.
The bottom line here is if you’re making those budget cuts this year and you are saying ‘we are not paying for all these froofroo things that we thought were helping us with social media and digital marketing online.’ The one you do not cancel and you keep forever and ever and ever I hate to break it to you is your email marketing list.
So even if that price is going up month over month because you’re growing your email subscribers, that’s great news. Because each of those email addresses is worth so much more then even one sale. It’s that relationship of having them on your list. So be willing and ready to pay that price to Aweber, Infusionsoft, Mailchimp, Constant Contact, it’s doesn’t matter who.
Because that database is one of the most valuable things you will have ever in your business.