The Most Effective Email Subject Lines for Financial Advisors
This article originally appeared on Advisorpedia on February 1st, 2022, and can be found here.
According to HubSpot, 78% of marketers have seen an increase in email engagement over the last 12 months. The pandemic has changed the time that we spend online, but some things remain the same and that is the effectiveness of email marketing.
And according to Convince&Convert, 33% of people open emails based on the subject line alone. So, that is a big factor when it comes to the number of eyes that reach your content versus those that hit delete. How can you create click-worthy subject lines for a more effective email marketing strategy in 2022?
To really dive in on this subject, we wanted to look specifically at what has been working for financial advisors’ email marketing over the last six months.*
Using our company’s data that shows the performance of various subject lines, we are going to discuss the types that are working best plus tips for writing your own version to best communicate with clients.
Before diving in, it’s important that we share some context with you about email marketing.
Email Marketing Statistics In Financial Services
Email marketing is measured using three metrics:
Open rate: This is the percentage of recipients who open a specific email out of the total number of recipients the email was sent to.
Click-through rate: CTR is the percentage of people who clicked on at least one link in your email message.
Click-to-open rate: A comparison of the above two numbers, providing a percentage representing the overall effectiveness of your message.
In Campaign Monitor’s breakdown of email performance based on industry, financial services emails have an average open rate of 26.84%, an average click-through rate of 4.88%, and an average click-to-open rate of 18.18%.
Based on our software, here are six subject lines that we have found to do very well.
6 Types of Subject Lines That Get More Opens
1. Show Your Value With Specific Topics
Figure out what your client’s pain points are and go from there. What do they really want to learn about? When you narrow in on a specific niche and focus on your audience, then this type of email will really resonate with your readers.
How to Write Your Own:
When you write this type of subject line, it’s important that you are narrowing down the topic further and create content that your audience will find useful. So, if you are writing an email about retirement planning, how can you narrow that down to a specific niche? If you make that topic even smaller and discuss retirement plans for an even smaller audience, this makes your email more likely to get opened. An example of this could be, “Retirement Planning for Women” or “Retirement Planning for Physicians,” whatever niche might serve.
Find ways to narrow down your subject and audience as much as possible – the more granular and specific the better.
2. Ask Questions
When you ask a question in your subject line, it really draws your audience in and prompts them to want to find out more. Make sure you are including details that share what your blog will be about so that you can be seen as a reliable source.
How to Write Your Own:
When finding success with this type of subject line, include as much detail as you can and write something that really piques your readers’ curiosity.
3. Include Numbers/Checklists
According to Campaign Monitor, a recent study that analyzed 115 million emails suggests email open and reply rates are higher when a number is present in the subject line.
When you include numbers and data in the subject lines, your emails are more likely to get noticed. They demonstrate a clear and straightforward message about your offer while setting the right expectations for your audience.
How to Write Your Own:
When writing a subject line with numbers in the email, it shows that It will be a scannable and easy-to-read email. We are limited on time, so nobody likes to pore through a dense email to an article. When a reader sees numbers, it immediately makes them think that the email will be sectioned off into groups, making it a much more digestible read.
4. How-Tos/Guides
Just like offering value with specific subjects, including “how-to” email subjects is a great way to entice your audience to learn more. You are showing your credibility and worth as an advisor and making it simpler for prospects and clients to figure out how to do something on their own.
How to Write Your Own:
In order to write these, simply write your subject line and include a bracketed tag for the content type before it.
Remember, despite the overwhelming preference for email, your communication will often rely on the strength of your subject line. Keep these tips in mind the next time you’re brainstorming an effective subject.
5. Alternative Forms of Media
While including blogs and articles is great, using other forms of media is also a great idea. When you include something like podcasts or videos, it’s another way to connect with your audience in an authentic way. And during the time of the pandemic when people were not able to meet in person, putting a face with a company in a video or hearing a voice in a conversational way is another great way to “humanize” your brand and connect with your audience.
How to Write Your Own:
Writing these is simple, as you only need to put the type of media that it is with a bracket around it. It’s a great way to entice your audience to open up your email and get information delivered in a new content form.
6. Update Your Clients
Your clients turn to you as an information source on everything from breaking news to upcoming potential tax legislation. Regularly delivering updates and pertinent information to them via email will prompt them to open your emails so that they can find out what you have to offer.
How to Write Your Own:
If this is something that you regularly send, it’s a good idea to include a date or timeframe, so that readers know when this update or from or when to expect it.
Make sure you are providing the appropriate information in the body of the email, either by sharing something that has already happened or highlighting what is to come. Provide as much detail in the body of the email so that your reader sees the value.