Most Newsletters Don t Work - part one Success and How to Monitor It
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Most Newsletters Don’t Work ?" Part One: Success and How to Monitor It
Why Many Newsletters Fail and How to Measure Success
Despite the efforts of skilled marketers, many newsletters don't make it past their initial issues. Glenn Harrington, an expert in newsletters for relationship-based businesses since the nineties, sheds light on this challenge.
Understanding the Purpose of Newsletters
Many believe newsletters are ineffective. They're often right due to a lack of clarity about their purpose and success metrics. Over the past decade, I've observed that the confusion begins with misunderstanding what newsletters should achieve.
Immediate Results Aren't Always Realistic
Marketers often expect newsletters to generate immediate sales and referrals. When this doesn’t happen, they assume newsletters don’t work, and in that context, they’re correct.
Shifting Perspectives
Before dismissing a newsletter as ineffective, consider the impression it leaves on readers. Imagine receiving a few newsletters from your accountant or lawyer and then suddenly, none at all. What impression would that leave?
The Role of Newsletters
Many believe newsletter success is elusive because they misunderstand its impact. A newsletter primarily shapes how people perceive you and your brand.
Four Key Brand Effects
Newsletters influence brand perception and can:
- Create a first impression
- Shape an existing impression
- Validate an existing perception
- Confuse an impression
Creating a Lasting Impression
To understand newsletters' value, consider their role in maintaining contact. For example, some credit union members wouldn’t attend a competing bank's event, thanks to their loyalty strengthened by newsletters. These newsletters keep client relationships strong.
Solving Specific Problems
Effective newsletters address issues like:
- Competing extrinsic incentives (e.g., free gifts)
- Client attrition
- High costs of acquiring new clients
- Losing future profits from departing clients
Key Metrics to Monitor
Managers should focus on:
- Business per client, segmented by profitability
- Referrals per client and their profiles
- Client attrition rates and reasons
- Overall clientele changes
Ongoing Evaluation
Review these metrics quarterly and set goals for both newsletters and business performance. Measuring success in this way is practical, even if your newsletter isn’t published quarterly.
Consistency Over Spikes
A successful newsletter may not cause immediate sales spikes, but it can prevent client loss. Consider what business problems you have and whether a newsletter can help solve them.
Achieving Client Relations Success
Newsletters primarily shape market perception and maintain valuable relationships. Those who leverage this effectively will find success over time. While newsletters may not boost immediate sales, they are a powerful tool for client relations when used wisely.
In summary, embrace newsletters as a tool for relationship management rather than a direct sales booster, and measure success over time for meaningful impact.
You can find the original non-AI version of this article here: Most Newsletters Don t Work - part one Success and How to Monitor It.
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