Advisor Technology | 10/14/2015
Six Email Marketing Solutions for Advisors (and One Honorable Mention)
So you’ve decided that the days of blind-carbon-copying your clients a PDF document through Microsoft Outlook will be relegated to the days of the past.
Now it’s just a matter of finding the right email marketing solution.
In an effort to streamline this process, I created accounts with several email marketing solutions and evaluated each on the following criteria:
- insights about subscribers
- access to previous newsletters/campaigns
- intuitive usability
With each account, I compiled a one-sentence newsletter and attached an image from my desktop. Then I sent the newsletter to a few friends — they agreed to this ahead of time — so I could monitor their interaction from the site.
Based on that research, Mineral Interactive has chosen the following providers as our recommended picks.
Top Email Marketing Solutions for Advisors
MailChimp offers the best insights, campaign access, integration support and usability for the lowest price.
You can generate different campaigns for separate subscriber lists, which allows you to tailor newsletters individually depending on the client. You can personalize email content so that your newsletters address subscribers by name.
And, if you have 2,000 subscribers or less, you can send 12,000 emails a month for free. Forever Free, MailChimp calls it. Once your subscriber list reaches 2,001 people, though, you have to pay. Plans start at $30 a month and rise depending on the number of subscribers.
Campaign Monitor allows you to sign up as a business with multiple teams, which is nice if you have several advisors, or even different offices, working on your team with different client bases. The layout process is easy-to-use, but if you have any issues, Campaign Monitor automatically assigns you an email marketing expert.
As far as cost goes, Campaign Monitor offers a never-ending free trial that allows you to send multiple emails to five people or less. Given that you’ll probably have more than five subscribers, you can sign up for a plan in which you pay proportionately to your subscriber base.
If you have 500 subscribers or less, you can choose options ranging from $9 a month to $49 a month.
When I signed up for Emma, I entered a phone number. This wasn’t out of the ordinary, because email marketing sites take precautions to prohibit spam. Five minutes later, I received a phone call from Alex, who brought Matt onto the line to get me started with a two-week trial run.
Laying out my simplistic one-sentence newsletter on Emma was just as easy as it had been on MailChimp and Campaign Monitor. What leapt out to me was how easy it was to upload images from Facebook, Flickr, or Bigstock using Emma.
You pay different prices here depending on if you’re a professional, agency, franchise, nonprofit or university. A professional can expect to spend anywhere from $45 to $420 to send newsletters to 2,500 to 75,000 subscribers respectively.
HubSpot is the most expensive of the email marketing solutions that we looked at: $200 a month for a Basic plan to as high as $2,400 a month. The old adage “You get what you pay for” holds true here: HubSpot is also the most in-depth of all the solutions we reviewed.
HubSpot offers one-on-one training with a channel consultant. As an advisor, you can also utilize blogging and landing pages, as well as email marketing, a social inbox, and keywords based on monthly Internet searches.
5. Mad Mimi
Each time you build a newsletter on Mad Mimi, you have to choose if you want to share it socially on Facebook, Twitter, Google+, Pinterest and/or Linkedin. As soon as you send your newsletter, an animated cartoon rocket appears, assuring you that the email is on its way, with the option to undo your send underneath. It’s a pretty fun addition and brings some personality to the software.
Mad Mimi competes with MailChimp on cost, in that you can store 100 contacts and send unlimited emails using the free plan. Beyond that, you can sign up from a basic plan at $10 a month or, if you’re a really big enterprise, a gold plan at $1,049 a month.
Perhaps the most useful aspect of Constant Contact is that it is mandatory to create lists for newsletters. From the get-go, you build lists in which you can include your different client bases.
Constant Contact offers a 60-day free trial in which you can send unlimited email to up to 100 subscribers. After that, it can cost anywhere from $20 a month to $110 a month (depending on subscribers).
And our honorable mention…
While signing up for a 30-day free trial, Aweber asked for my credit card number, at which point I opted not to try out the newsletter platform. According to its website, though, AWeber has been around for almost 20 years, and offers insights like click-through rates and headline grades to paying customers.
Depending on subscribers, it costs anywhere from $19 a month to $149 a month.
At Mineral Interactive, we believe structured and intentional email marketing can begin to foster the kind of trust you want to achieve with your relationships. Next week, we’ll take a look at avoiding common email mistakes.
If you’re done blind-carbon-copying your clients a PDF document through Microsoft Outlook, consider one of these seven solutions today.
Let us know in the comments what email service you use, and what you like best about it.
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