Table of Contents
Subtitle: Lessons from Sending Millions of Emails
In this article, we will delve into the proven playbook for local email newsletters in the real estate industry. We will draw insights from Axios, a media company that sold for $525 million, and share how we have applied their playbook to run successful email newsletters across different markets. With email newsletters being the highest ROI marketing channel, it is crucial for agents to leverage this powerful tool. We will provide a step-by-step playbook that you can implement for your own real estate email newsletters.
Introduction
Email newsletters are not easy, but they can be simplified with the right system in place. According to ROI statistics, email marketing has the highest return on investment compared to other marketing channels, with an average of 36-70X ROI. Additionally, email marketing is a growing field. Therefore, it is essential for real estate agents to have a solid email playbook to maximize their marketing efforts. In this article, we will share our own playbook, based on the successful strategies of Axios, which generated over $10,000,000 in revenue in its first 7 months.
The Playbook
The local email newsletter playbook was developed by Axios, a media company that focuses on creating intelligent content on topics shaping the world. Their playbook revolves around key areas such as business, technology, politics, and media trends. Axios generated significant revenue through short-form native advertising and sponsored newsletters. With 200,000 subscribers, a 52% open rate, 11 newsletters, and 89 staff members, Axios successfully scaled its operations. They expanded into local markets by acquiring a company called Charlotte Agenda, which allowed them to penetrate major metro markets in the US.
Why Does This Matter for Agents?
Axios is not the only company that has proven the effectiveness of newsletters in attracting attention and building an audience. Other companies like Morning Brew, The Hustle, and MilkRoad have also achieved significant success with their newsletters. These companies have been able to monetize their newsletters and generate substantial revenue. Email newsletters provide an “owned” audience, meaning that you have direct access to your subscribers without relying on external platforms. The return on investment for email marketing is also impressive, with an average of $36 earned for every $1 spent. Email marketing outperforms social media platforms like Facebook and Twitter in customer acquisition, acquiring 40X more customers. Furthermore, the revenue generated from email marketing is expected to continue growing.
The Power of Email for Agents
One of the significant advantages of email marketing is its ability to maintain long-term attention from your audience. While social media platforms like YouTube, TikTok, and Instagram are effective at capturing attention, email is the best way to nurture and retain that attention. By building an email list, you can establish a deeper relationship with your audience and increase your conversion rates. Email marketing is the natural progression after social media marketing, allowing you to take the relationship further with your subscribers. As a real estate agent, your goal is to become a trusted resource for your audience, so that when they decide to buy or sell a property, they think of you. By becoming a local source for important information in your market, you can position yourself as the go-to resource.
To get started with email newsletters, it is crucial to create a repeatable system with a simple and structured approach. Here are the key steps to follow:
1. Sources
To fuel your email newsletter system with great content, it is essential to identify reliable sources of information. Look for modern media brands that stay on top of what’s happening in your market. Some examples include local news outlets, real estate blogs, food and drink publications, and business websites. Create a Notion database or a similar tool to store your sources of ideas.
2. Structure
Analyze successful newsletter structures, such as those used by Axios, Morning Brew, and MilkRoad, to develop your own structured approach. Consider the following elements:
- A compelling headline that grabs attention
- A brief introduction or teaser
- Multiple sections with valuable content on relevant topics
- Engaging visuals, such as images or infographics
- Clear calls to action, encouraging readers to take the desired next steps
By following a structured format, you can ensure consistency and provide value to your subscribers.
3. Support
To streamline the process of creating and sending your email newsletters, consider utilizing email newsletter platforms like Mailchimp, ConvertKit, or Beehiiv. These platforms offer various features beyond just email newsletters, such as landing pages and automation. You can hire a part-time person or seek help from an admin or marketing professional to assist you with managing your newsletters. This will help you save time and ensure that your newsletters are sent out regularly.
Once you have established a monthly newsletter, you can begin scaling it by increasing the frequency to biweekly or weekly newsletters. It is important to find the right balance that keeps your subscribers engaged without overwhelming them with too many emails. Additionally, consider adding other layers of email marketing to complement your newsletter. Some examples include:
- Listing blasts: Sending a single listing email or a list of homes, such as open houses, on a weekly basis. This allows you to market your listings and provide valuable information to your subscribers.
- YouTube blasts: Sending a single email to announce new YouTube videos that you have launched. This helps drive traffic to your YouTube channel and keeps your subscribers engaged.
- Conversation starter emails: These are single emails that use data and information to spark conversations with your subscribers. You can share market trends, insights, or local news updates and encourage your subscribers to engage with you. These emails can serve as a way to nurture your relationship with your audience and generate leads.
Conclusion
Email newsletters are a powerful marketing tool for real estate agents, offering high ROI and the ability to build a loyal audience. By following a proven playbook, agents can leverage the benefits of email marketing and establish themselves as trusted local resources. Start by identifying reliable sources of information, create a structured format for your newsletters, and use email newsletter platforms to streamline the process. As you scale and expand your newsletter, consider adding additional layers of email marketing to further engage your audience. With the right strategy and consistent efforts, email newsletters can become the #1 ROI marketing channel for local real estate agents.
Remember, email is the best way to maintain long-term attention from your audience, so start building your email list today and become the go-to resource for your market.
