EP. 23- You're Ignoring Your BEST Prospects l Jay's Scoop

In this episode, Jay talks about the importance of not ignoring your best prospects in email marketing. He shares data showing that a significant percentage of clicks happen after an offer expires, and that those late responders have much higher lifetime value. Jay stresses the need to provide relevant follow-up content to these late responders instead of just showing a generic "offer expired" page.

Main Discussion Points

- 22% of click through traffic happens after an offer expires

- Lifetime value of late responders is about 200% higher than those who respond during the offer window

- Late responders are more engaged since they are consciously going back to the email later

- Don't just show a boring "sorry you missed it" page to these valuable prospects

- Provide other relevant offers or content that would interest them

- This valuable traffic lasts for up to 150 days after offer expires

Episode Transcript

(00:00):
Foreign welcome to do this,not that, the podcast for marketers.
You'll walk away from eachepisode with actionable tips you
can test immediately. You'llhear from the best minds in marketing

(00:22):
who will share tactics, quickwins, and pitfalls to avoid. We'll
also dig into life, popculture, and the chaos that is our
everyday. I'm Jay Schwedelson.Let's do this not that we are do
this Ing and not that Ing. Iwill never sing like that again.

(00:44):
That is embarrassing. Oh, allright. I'm excited to talk about
this today. You know what gotme thinking about this was that I
saw somebody won some biglottery, okay. And they win the lottery.
And then I didn't know this,but in the state of Florida, you
probably don't know this. Youhave 180 days to claim your Powerball

(01:07):
price. Did you know that? Ididn't know that. Anyway, but it
got me thinking about thisamazing thing in the world of marketing,
specifically email marketing,that most marketers don't think about
because we're just missing it.As a marketer, business or consumer,
you are ignoring your bestprospects. What do I mean by that?

(01:28):
Okay, you have an offer. Maybeit is 20% off on a clothing item,
or maybe you're trying to getpeople to sign up for a webinar that's
going to be on a Friday. Andthe offer, you're promoting that
offer. And then the day comes,the offer occurs, the 20% offer occurs,

(01:48):
or the webinar occurs, and youas a marketer, you move on after
that. Now you're on to thenext offer, whatever it is that you're
promoting next. But here's twostats that actually blow your mind.
On average business toconsumer, 22% of all click through
traffic in your emailpromotions will occur after your

(02:13):
offer expires. What does thatmean? That means somebody got that
email about that webinar orabout that 20% off. They didn't react
to it at the time. Okay, maybethey missed it, or maybe they saved
it and then they came back toit a few days later. But, oh, the
offer is no longer in theright time period. It is over. But

(02:36):
the person decided, I'm stillso interested in the webinar or the
sale. And they click on theemail and they go to wherever it
is that you're taking them.22% of the traffic occurs after your
offer expires. Now here's thecrazy stat that's going to blow your
mind. The lifetime value forpeople who convert after the offer

(03:01):
expires. Is about 200% higherthan people that take advantage of
the offer during the actualoffer period. Why would that be?
Why would the lifetime valuebe so much higher for people that
respond after the offer isover? And here's why. When you get
an email and you'reinterested, think, oh, you're instantly

(03:22):
interested. It's almost like aknee jerk reaction for you to react
to that offer. I gotsomething, I looked at it, I'm interested,
I react. Now if you getsomething and you look at it, you
contemplate it like, am Iinterested in this? Yes, I am. I
don't have time for it. I'mputting it off to the side. And then
you come back days later,weeks later, whatever it is, you're

(03:43):
like, oh, yeah, I thoughtabout that offer. And then you respond
to it. You are consciouslygoing back to that email and responding
to that offer. It is aconscious decision, which is why
that lifetime value is so muchhigher. Why am I telling you all
this? I'm telling you thisbecause we all make the same horrible
mistakes. So where are youtaking this 22% of the traffic after

(04:05):
the offer expires? Right. Ifon the business side, someone clicks,
they want to attend thatwebinar and you take them to a page,
usually take them to a pagethat says, I'm sorry you missed the
event, and it's some sort ofreally boring page. It's like all
just white and terrible. Veryrarely does it say, hey, sorry you

(04:26):
missed out on the cloudcomputing webinar. Here's three other
things that you could registerfor right now that you could watch
right now that are superawesome about the same topic. We
very rarely do that, butthat's what we need to be doing because
these are golden prospects. Ifyou're just taking them to a page
that says, I'm sorry youmissed it, you are giving up on your

(04:48):
best potential customers. Onthe consumer side, it's the same
thing. I don't understand.I'll get an email offer for a pair
of jeans and then I'll missthe offer. 20% off a pair of jeans,
I'll come back to it, I'llclick on it. When I click on it,
it doesn't say, hey, youmissed the sale, 20% off sale on
these jeans. But good news,there's a 25% off sale on these other

(05:13):
jeans that you could checkout. Usually it's like, I'm sorry
you missed the sale on jeans,but here's a sale on tank tops that
you don't need or want thatare totally irrelevant to what you
just clicked on. You want tograb that traffic, that super valuable
traffic, and present them withsomething that is awesome, that is
just so awesome. And so thisidea of what happens after the offer

(05:40):
expires and what you'reshowing these people, it can last
for about 150 days. It can bethat long. So don't just take them
anywhere. Don't just be like,I need to move on to the next offer.
Think about that traffic. Itis super valuable. These are your

(06:00):
best, absolute best prospects.All right, now we get to the segment
of the podcast where I take adeep breath and we talk about things
that have nothing to do withanything work related. It's called
since you didn't ask, andHalloween is right here. So I thought
I would share some of thecostumes that I've worn in the past

(06:22):
and what I'm thinking aboutwearing this year, because I feel
like that's a very, veryimportant topic and you'll be embarrassed
for me after I tell you someof the costumes that I've worn on
Halloween. So one year, forexample, oh, my God, there's one
that's so bad. One year I wasa whoopee cushion. That was actually
pretty good. I was a giantwhoopee cushion. The big pink whoopee
cushion. I thought that waspretty funny. Another year I was

(06:45):
Alan from the Hangover, whichis the dude who walks around the
man purse. And then I had babyCarlos, the baby strapped to me.
And I had a big beard. Andthat was pretty awesome, too. I like
that one a lot. But the onethat my family was mortified that
I wore, which is possibly thegreatest Halloween costume anybody's
ever worn, was one year I wasa toilet. Yes, I was a toilet. And

(07:10):
it was an amazing costume. Iwas in this big costume, and it looked
like this big toilet came outattached to my stomach. It was great.
But the thing that I did thatliterally my family had shame, they
felt shame, was I said, I havethe greatest idea. And I went, and
I don't even know how to cookthat much. And I cooked meatballs.
This is true. I cooked a bunchof meatballs. And in the toilet part

(07:33):
of the costume. I put themeatballs in the toilet. I don't
have to tell you what theylooked like. You kind of can get
the idea. Okay. And then Iwalked around my neighborhood with
in it being a toilet withthese meatballs. And what I would
do is, as I pass people, Iwould pick up a meatball and I would
bite into it. And it wasamazing. I was so proud of how disgusting

(07:55):
and ridiculous this was. So mywife said to me this year that she's
like, we should be TaylorSwift and Travis Kelsey. And, you
know, because that's what'sgoing on. He's on the Chiefs, whatever.
And I was like, no way. I go,I don't want to do that. But then
I came back to her and shesaid, you're. You're a total idiot.
And she said, I said, youknow, instead of Taylor Swift and

(08:16):
Travis Kelce, how about you'reTaylor Swift and I'm Travis Kelce's
mom, huh? And she's like,what's wrong with you? Anyway, tmi,
we'll see if that's what I endup being. I will share a picture,
whatever I do. And don't be atoilet with meatballs. Just don't
do that. And don't. Don'tignore your best prospects. And thanks

(08:38):
for listening. You did it. Youmade it to the end. Nice. But the
party's not over. Subscribe tomake sure you get the latest episode
each week for more actionabletips and a little chaos from today's
top marketers. And hook us upwith a five star review if this wasn't
the worst podcast of all time.Lastly, if you want access to the

(09:03):
best virtual marketing eventsthat are also 100% free, visit guruevents.com
so you can hear from theworld's top marketers like Daymond
John, Martha Stewart, and me.GuruEvents.com check it out.