If you’re wondering what leakage is in marketing; let me paint you a picture.
Imagine all your customer interactions in a bucket. Holes will occur as a result of a deficiency in the product, service or marketing which results in lost customers or prospects.
Now, picture our bucket sitting under a running tap and imagine that flow of water represents the influx of new email addresses you’ve worked hard to capture. Painful, huh?!
Leaky bucket marketing is the way in which a business or marketing team deal with plugging the holes (resolving quality issues) that are losing them valuable customers.
So, where does email marketing fit into this?
Mark Brownlow in his email marketing report says that ‘email marketing is like trying to fill a bucket with holes in it’. He says that ‘email marketers fall into two schools of thought on how to do so’.
Mark says that ‘the old school tackles the problem by using more water and pouring faster’ which he says results in the business constantly playing a never ending game of catch up.
In contrast, the new school ‘plugs the holes’ in the metaphorical bucket and instead of being volume orientated like the ways of the old school thinkers, the new school marketer is smart and opts for quality over quantity.
Leaky bucket thinking can be applied to a wide variety of activities but where email marketing is concerned, most experts use it to describe the act of winning and losing customers from your email list.
How to fix your leaky bucket…
While the idea of a weighty email list sounds great, if you are experiencing deliverability, unsubscribe or low engagement issues then you should consider damning the current holes in your campaign in an effort to prevent further loss before turning the tap of new contacts from a trickle to a flow.
Remember, list growth isn’t just about obtaining new addresses. The success of your email marketing efforts ultimately rests on you keeping your existing contacts happy.
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