The very first private branded newsletter solution I worked on was for Flagstar Bank. I believe they outsourced to the publisher I was working for at the time mostly because what we were going to charge for content and distribution was possibly less than they were going to pay to an ESP for distribution alone. And we never really provided great content. Trade publishers tend to be good at doing one thing- putting out niche content and selling advertising around the niche content.
What are the key ingredients for an outstanding private branded newsletter? And why do one at all?
Lets start first with the whys for a private branded newsletter.
Typically, the private branded newsletter falls squarely in the domain of customer retention. Your company has a large, diverse customer list interested in a specific niche topic. Your customer base is too large for your sales force to contact with frequency, or your sales force is able to contact your best 20%, leaving the other 80% wondering- do they love me?
Its all about love, and showing it to your customers.
What makes a private branded newsletter?
Typically, companies will send out what is in actuality information about the company. And while that might in theory be useful to part of your customer list, if your newsletter is all about you, and what new offices or products have opened or launched, chances are your customers are going to be turned off pretty quickly.
We'll chalk this up as BIGGEST MISTAKE #1.
What do your customers want to know? Yes, they want to know about new ways they can do business with you, new solutions you have for them. But, chances are they'd like industry information about your area of speciality. Very often, there are trade publications that broadly deal with the topic at hand.
For instance, mortgage professionals can subscribe to Mortgage Technology magazine and e-newsletter from SourceMedia. But, is there a good place for AVM Tech Trends? For trends in e-mortgages? Or Decisioning Technology?
Well, if you get that niche, how much good stuff is there to write?
You're right, there will likely be good content for a monthly email. But, its going to be a blend of company news, information and insight with third party authored editorial, and 'static' information, like upcoming trade shows and events.