A good email marketing strategy will grow your law firm in no time. Here are 7 solid reasons to get started with email.
Marketers today have an incredible amount of resources at their fingertips. According to chiefmartec.com, there are currently 5,000 - 8,000 marketing solutions available. From SEO to analytics, video to sales enablement, the number of martech categories is enormous.
What's more, innovation is racing ahead. Many of these martech categories didn't exist last year. The pace of growth is faster than ever.
But one category continues to perform well year after year. Email marketing always comes out on top, even in this rich and innovative landscape.
The reason for this is clear: For 16 years in a row, email has generated the highest ROI for marketers. For every $1 spent, email marketing generates an average $42 in ROI. That's four times higher than any other marketing channel.
Email also gives marketers the broadest reach of all channels available. Out of the plethora of tools available to marketers, email marketing is the best for business growth. Every good digital marketing strategy should pay attention to email.
In this guide, we'll share seven reasons why email marketing is a ‘must-have’ for your law firm. We'll also share how experts use email marketing as a core tactic in their digital strategies.
Facebook boasts over 2 billion users. Instagram engages 1 billion. Tiktok attracts 630 million. Twitter holds steady at 330 million users. With numbers like these, it's tempting to believe social media is the best way to reach the masses.
But, your law firm doesn’t need to appeal to the masses. You need the right client prospect to find your firm at the moment before they need legal advice. That’s where email comes in.
Email outperforms social media in both usership and engagements. A steady drumbeat of email sent to a prospect’s inbox impacts the recipient over time. Your goal is to build trust by sharing your expertise in small doses.
As of 2020, there were over 4 billion email accounts in the world. Over three quarters of the adult population worldwide has an email account. And that’s growing all the time. In 2018, over 281 billion emails were sent every day. That figure is predicted to grow to over 347 by 2021. By 2024, Statistica reports that nearly 5 billion people will have an active email account.
This might seem surprising at first, but think about your own online behavior. When you sign up for a website, app, or service, you usually have to enter your email address. You can't even create a social media account without an email address.
Email is the currency of the web. Anyone who's engaged online has an active email address. Facebook and Instagram might seem pretty ubiquitous but, behind the scenes, email keeps the wheels of the internet turning.
So, when it comes to connecting with new or potential clients, no channel can touch email. Its potential reach is more than twice that of the next biggest platform (Facebook) with 319.6 billion daily emails estimated to be received in 2021 (Radicati, 2019).
This means that if you send an email campaign to 10,000 clients and prospects, it will land in at least 9,000 inboxes. That's an incredible reach.
What’s more, your email subscribers have explicitly signed up for your emails. They've opted in to your firms’ updates, so they're definitely interested!
Or they should be. If your subscribers did not actively opt into your list, you could be in violation of regulations like the GDPR and CAN-SPAM.
If you received permission to email people, it's because they want to hear from you. They're already engaged. This isn't necessarily the case with, for example, paid ads on social media. Think about the ads in your Facebook feed. Did you ask those companies to market to you?
It's more likely that you're seeing Facebook ads because you searched something on Google. That's very different from proactively signing up for an email to gain legal advice or an expert opinion.
All in all, email ensures your audience will get your message.
For many marketers in the legal profession, bringing in new clients is the ultimate goal. Everyone wants to turn prospects into paying clients. And when it comes to new business, there isn't a more powerful channel than email.
We know all this, because email is measurable. Vuture customers have real-time access to metrics like opens, clicks, bounces, and more
When comparing the metrics of email against those of other channels, the value of email becomes clear. For example, email has:
These are impressive figures, which demonstrate great potential for engagement.
Additionally, integrating your email marketing with a CRM like Salesforce gives great insights. You can see firsthand how email marketing impacts wider business opportunities and deals.
If - like most marketers - your focus is on nurturing client prospects and driving new business, you can't beat email. Email marketing trumps all other communication channels in this regard.
Given email's unmatched ability to drive new business, it makes sense that email also generates a great ROI.
In fact, email marketing yields an average ROI of 122% — that's four times as much as any other channel.
It's clear that email is a cost-effective channel, but why? What makes email such a great performer when it comes to ROI?
It comes down to email’s ability to deliver highly personalized and relevant messages. Unlike social networks, which show the same status update to all followers, email can be hyper-focused and targeted.
It's easy to segment email audiences according to their interests, purchase history, location, and so on. Once you've done this, it's easier than ever to send targeted communications. The more targeted and personalized your emails, the better your firms’ ROI. In this example from Uniqlo, the customer is sent content personalized to the specific weather conditions where they are.
Take Vuture customer JacksonLewis, for example. They removed several low-engagement segments from their mailing list, leading to a 12% increase in open rate and 8.5% increase in click-through rate.
The more data you have about your prospects, the more targeted you can be. Tools like Vuture can hold a huge amount of customer data and pull in insights from integrated systems like your law firm's CRM.
For many people, social networks are for personal information, used to keep up with friends and family. In other words, most social media users aren’t there to go shopping for legal advice.
Email, on the other hand, is a much broader medium. People expect to receive all kinds of communications from estate planning to personal injury services, if they signed up for your law firm’s newsletter.
Studies show that twice as many people prefer to receive informational and transactional content by email. This is twice as many as the next most popular channel.
Data scandals and ethical concerns have tainted social media in recent years. Paid trolls, bought audiences, and data breaches have all reduced trust in social platforms.
Email, comparatively, continues to be a trusted resource for users. And for industries like yours — ones that use email to communicate with customers — there’s no reliance on algorithms, and there’s much less opportunity for data threats.
While email providers are privately owned, the channel as a whole is not monopolised by any vested interest. It has nothing to prove or achieve, other than the satisfaction of its customers.
The fact that customers directly give permission to brands for email marketing also helps. It gives the customer confidence that they are in control of their data. This kind of transparency and control inspires trust.
The benefit of this for brands is not just that element of customer trust (although that is crucial!). It's also the fact that the brands themselves have conservatorship of their lists. If you invest the time and money into cultivating a great email list, that list will be an asset your law firm owns. You'll be able to leverage your list without the threat of a third party limiting its effectiveness.
As Noah Kagan, founder of SumoMe puts it, “If you rely on Facebook or Twitter, you are at the mercy of them allowing you to talk to your customers. When you email it gets in your customers inboxes. Then it’s up to you to make sure you are sending things your customers want to receive. Email is the most scalable way to make sales with new customers and build deeper relationships with customers. AppSumo.com is a 7 figure business and 90%+ of our revenue comes from emails.”
Remember MySpace? What?
MySpace used to be the largest social networking site on the planet. In June 2006, it surpassed Google as the most visited website in the United States.
Now, like Blockbuster and VHS, MySpace is only referenced as a relic of a bygone world.
Imagine investing significant amounts of time and money into a platform, only to see that platform’s relevance disappear a year or two later. It would be catastrophic.
Luckily, this is unlikely to happen with email. Email has a long history of stability. Sure, the ways we use the channel change, but the channel itself endures.
The first promotional email campaign was sent in 1978 to 400 people. Since then, it's growth remains consistent through the decades.
Part of email's success is because of its ability to change and adapt with the times. Email has evolved from a time when a company needed a developer to build an email. Today, tools like Vuture empower the modern legal marketer to create and send beautiful, branded emails with ease. This shift has put the power of business email into the hands of more people.
Unlike a social media following, an email list represents a stable long-term investment. A well-built email list will pay off for years to come.
Lawyers have many channels through which they can reach prospects and clients.
However, like everyone else with limited time and resources, they need to prioritize their efforts.
The seven reasons listed here make email marketing the most effective marketing channel by far. For attracting, engaging, and connecting with an audience to increase client retention and garner new business, email marketing can't be beat.
Dan Oshinksy, Director of Newsletters at Buzzfeed, advises marketers to get started with email right away: “Email marketing is an essential tool in every smart marketer’s tool belt. Nothing else is as good at reaching your customers where they are, and nothing else is as effective at building personal relationships with customers. If you want your business to succeed, start building your email list on Day 1.”
So, start using email marketing to your advantage today. Before long, you'll see a huge increase in clients and billings.