To continually optimize advisor email marketing efforts, the email marketing team at Lone Beacon conducted a study to find out which email subject lines performed best across various financial advisor accounts and why.
To do this, we analyzed over 2,700 individual subject lines of emails that were sent on behalf of advisors over the past year.
Effective subject lines are probably one of the most important parts of your email campaigns because, without a good, catchy subject line, recipients will never open your emails, which means they won't don't even get a chance to see what you have to do. say and take further action with your company, such as click a link to make an appointment or get more information about something.
So, if you're a consultant looking to run high-performing email campaigns, we've come up with two key points as subject line best practices. The most successful subject lines in all of our email placements had two things in common:
- Low character count on subject lines, so keep them short and sweet!
- The value proposition is clearr in the subject lines. The reader needs to know what they are going to get or learn before they even bother to open the email.
Below are 4 examples of subject lines that feature these suggestions:
“Complimentary Webinar: Secrets to Building a Sustainable Income Plan”
“Navigating Gen X's Retirement Concerns”
“You're Invited—Summer BBQ Customer Appreciation Event!”
“Download Your Complimentary Social Security Guide”
From these metrics, it's clear that successful subject lines state their value proposition and do so concisely.
Next, the most unsuccessful subject lines in all of our email placements didn't make good use of low character count and value proposition best practices. Here are three main points why underperforming subject lines didn't perform as well.
- Maximum number of characters in the subject line.
- The value proposition is not as obvious or clear.
- The subject line contained difficult concepts or topics that were uncomfortable to think about.
Below are 4 examples of subject lines that feature these suggestions:
“Our on-demand webinar explains essential inheritance and estate planning information”
“Towards Economic Uncertainty: Interest Rates, Inflation and Government Debt”
“A Delicious Dining Experience Awaits in Chesapeake, VA – Free Dining Event”
Looking to get your taxes under control this year? Our guide can help”
Why do email subject lines matter?
Think about it from the eyes of the receivers…
Short and concise subject lines are essential to grab attention quickly, especially on mobile devices with limited space. Additionally, clear value propositions in subject lines inform recipients of the benefits of opening the email. It's worth noting that the most successful subject lines exhibited both qualities, leading to their high open rates.
Conversely, long subject lines risk being overlooked, leading to lower open rates and engagement. Likewise, unclear value propositions diminish relevance and interest, reflected in less successful subject lines. Sometimes subjects that use jargon, even basic jargon, can disqualify readers because they are confused by the language … and the confused mind says “No.” A similar point can be made about subject lines that contain uncomfortable subjects like wills and estate planning, as it forces the user to acknowledge a very important aspect of their life.
Thus, combining short, crisp subject lines with compelling value propositions emerged as a key factor in driving email open rates and engagement.
While subject line characteristics play an important role in email open rates, it's important to recognize that other factors can also contribute to the success — or lack thereof — of email campaigns for financial advisors. For example, the quality of leads, trust established with recipients, and other external variables can affect engagement levels.
However, understanding the impact of subject line clarity and value proposition provides a solid foundation for optimizing your email campaigns. So, if you want to take your email marketing campaigns to the next level, make sure you're constantly analyzing and refining strategies based on these insights. That way, you can adapt to the changing dynamics to gather more high-quality leads, ultimately growing your financial advisory business.
Andrew Preshong is the Email Marketing Manager at Lone Beacon.
Marcus Roth is Senior Director of Email Marketing, Automation and Content at Lone Beacon.