A good newsletter can level the playing field between small businesses and large companies, especially with the current state of the economy as no single company can afford to target everyone. A really good newsletter that is targeted can help a small business compete regardless of budget. However, the keyword here is “good newsletter.” How exactly do you know that your newsletter will perform well?
In order to have an effective newsletter, you need to have the following foundations:
A Good Grasp of Your Current Customer Base
If your newsletter is to be opened and read, it should be written specifically for your customers based on who they are and why they should buy from you. Don’t paint with a broad brush, as no large company, much less a small one, has the ability to sell to everyone. Find common characteristics and interests among your customer base and write your newsletter based on that. You can even push this further by writing for the customers that are bringing in the most businesses.
Does Not Compete with Similar Companies
Very few small businesses have enough budget to directly compete for the same market, especially if their competitors are well-entrenched. Your effort, time, and money will be better spent if your newsletter instead targets the niche market that your competitors are overlooking.
Presents the Product or Service and its Benefits Effectively
It’s never enough for your newsletter to just present the specs or features of a product. Your customers don’t really care about that. What they care about is what the product or service can do for them. So don’t be content with just listing out features. Make sure you also explain why those features will be a great benefit to the customer.
Considers the Demographics of the Target Market
You should make an effort to get your hands on basic demographic data such as age, location, gender, marital status, ethnic background, occupation, and even basic income level. These demographic data are crucial to any business that wants to market products and services effectively.
Considers the Psychographics of the Target Market
Psychographics is more than just background data on your customers. It consists of more personal information like Personality, Attitudes, Interests, Values, and even Lifestyle. There are tools available now that let you personalize each newsletter up to a point, so that you can at least send out a more formal newsletter to people who want it or address people by honorifics if they prefer it. It can also go beyond as you can choose to focus on products that fit your target’s lifestyle or they medium preference.
Leaves Room for Testing and Changes
Finally, a really good newsletter shouldn’t be set in stone. The market, your business, and your customer base is in a constant state of flux. Your business and its extensions should be adaptable and can accommodate changes at the drop of a hat. So make sure you do constant tests to find out if things are changing or if there is room for change for the better. Then ensure that you can implement the changes without lengthy downtimes or massive losses.