Sending emails to your clients is essential for keeping in touch with them so that they think of your brand first when they decide to trade the markets. However, what kind of emails are you sending out; promotional or content? Or both?
Thus, you need to ensure that you are sending enough of both so that you maximize your trader retention. So, let’s take a look at how you can utilize both in your email marketing plan.
Promo emails are perfect in helping your brand bring in new traders.
These emails focus on persuasion, with a great offer that traders can’t refuse. Frequent call to actions in your emails will give them multiple chances to deposit or place more trades on your platform. That is your goal after all – promotional emails are designed for immediate returns.
Nevertheless, if you continuously send promo emails without giving your reader any value, you will see that gradually your open and click-through rates will drop, along with your trader engagement.
Imagine going to a restaurant and getting some ice-cream for free. It’s hard to pass up on some free ice-cream. But, what about if you were offered ice-cream after ice-cream, with no other items to choose from on the menu? Even if all this ice-cream was free, after a while the novelty wears off and you move on to another restaurant.
To avoid this ‘ice-cream overload’ effect with your emails, you need to give your clients some good quality content emails – high-value, relevant content will keep your readers engaged and ready for your next promotion.
Content emails are all about building a long-term relationship with your clients. They certainly can still include calls-to-action which lead to deposits or increased trade volumes, but their main goal is to nurture the relationship between your traders and your brand.
Your clients may not deposit or place trades immediately after receiving your content emails, but as they learn to trust your brand and see that you will give them a comprehensive and mutually beneficial trading experience, they will be more inclined to do so with your brand when they are ready to trade.
Constantly creating and providing valuable content to encourage more trade volumes and higher deposits should be an ongoing process that will ultimately build a strong and loyal relationship with your clients.
It may sound strange, but these content emails can help to convert without you needing to ‘sell’. Instead of promoting your trading services or special offers, you are providing them with valuable information and education that will build their confidence to trade more with your brand.
You could give them a free strategy ebook, a training video, an incredible can’t-refuse-offer; something that will educate them on your brand, and make traders feel like you have taken the initiative to do something special for them (without asking for anything in return).
The right mix
Providing content of high perceived value (for free) is the name of the game in order to help build engagement and loyalty and boost trader retention.
Ideally, you want to be sending a good balance of promotional and content emails in your email marketing. If you are sending emails every day, try to send your promotional emails every other day, and keep the rest of the days for content emails.
44% of email recipients made at least one purchase last year based on a promotional email ( according to Convinceandconvert.com), and according to LinkedIn Technology Marketing Community, the top 3 goals of content marketing are: lead generation (59%); thought leadership/market education (43%); and brand awareness (40%), thus it is essential to mix the two types of emails.
With the right balance of promotional emails and content emails send out to your clients you could see your trader deposits and retention dramatically improve.