Episode A.027 Email Budget

Introduction
​This week we are continuing our series on Plan - Budget - Action. Regardless of your global location, the world's economy is coming out of the forced shutdown and will experienced a V Shaped (quick contraction followed by a quick expansion) Recovery during the 3RD Quarter (July - August). The goal of IBGR's Programming is to get you ready to claw back as much of your lost revenue as possible.
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Show Objectives
This show focuses on the bare bones of building an email campaign the mechanics behind it. You have an issue of lists, list curation, testing different emails/newsletters, and how much this will cost.

Also included is whether you should outsource parts of the campaign and which are the best candidates.
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What You Need to Know

• Buying a List: purchasing a targeted list (geographic, demographic, psychographic) that fits the objectives of your campaign;
• Compiling a List: bringing together all of your various lists from email, social media, phone contacts, etc into a master list;
• Curating a List(s): uploading all the lists to separate spreadsheets and adding selection criteria for sorts;
• Creating a Campaign Schedule: what is the macro and micro themes, and which themes do you plan to run when;
• Writing A & B Campaign Text: before you make a significant marketing spend, write 2 different types of letters that have the same objective. The goal is to see which have greater opens and clicked links before spending your budget.

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What You Need to Do
​The following is a list of steps and costs we incurred from a previous email campaign. Some of the numbers have changed to make the math simple. Use this as a template but make it fit your situation.

Campaign Steps	Material Costs	Labor Costs	Outsource Costs	Total
1. Buy a List	$500.00	$70.00	$0.00	$570.00
2. Compile a List	$0.00	$140.00	$0.00	$140.00
3. Curate Lists	$0.00	$140.00	$0.00	$140.00
4. Create a Publishing Schedule	$0.00	$140.00	$0.00	$140.00
5. Create a Campaign Schedule	$0.00	$140.00	$0.00	$140.00
6. Upload List to Email Platform	$0.00	$35.00	$0.00	$35.00
7. Write 1st Copy - A	$0.00	$70.00	$250.00	$320.00
8. Write 1st Copy - B	$0.00	$70.00	$250.00	$320.00
9. Select A & B Campaign Lists	$0.00	$70.00	$0.00	$70.00
10. Send A B Campaign Emails	$150.00	$35.00	$0.00	$185.00
11. Compare A & B - Open Rate & Clicks	$0.00	$70.00	$500.00	$570.00
12. Select A or B and Campaign to Entire List	$150.00	$70.00	$500.00	$570.00
Total	$800.00	$910.00	$1,500.00	$3,210.00
Acquisition Costs Per Qualified Lead (100)				$321.00

Next Show: ​A.028 Social Media Budget