Email Marketing

Email Marketing for Financial Advisors: 6 List Segmentation Best Practices

Do you want to boost your email click rates and open rates? Do you want your email marketing efforts to finally pay off? If you answered yes to these questions, it’s time to engage in email list segmentation. In today’s day and age, personalization is a key factor to engage your audience, and that’s exactly what list segmentation allows for. In fact, according to a survey conducted by MarketingCharts, customers rely on email campaigns to create a personalized experience than any other option.

people rely on email marketing for personalization

Below we will give a brief overview of what email list segmentation is and also outline 6 list segmentation best practices that will help you boost your conversions through the roof! Before we get started, this brief video will provide some more insights.

What is Email List Segmentation

Email list segmentation is when marketers divide their email list into smaller “segments” to create a more targeted and personalized email. Instead of sending large email blasts, you send different emails to each segment. These segments can be large such as the people who went to your blog in the last two weeks, or the segments can be small such as the people who bought one of your services in the past month due to a referral. However, the smaller your segment, the more likely it is to be effective.

email personalization

Why Should You Segment Your List

The reason is very simple: personalization. Think about the last time you received an email for something that you didn’t want or care about. You must’ve opened it and thought “why did I get this email?” and then immediately unsubscribed so that you wouldn’t get any more. Just like you, no one wants unnecessary emails filling up their inbox. List segmentation makes sure that people are getting emails that they want and care about. By dividing up your list based on things such as buying preferences, demographics, background, etc, you can tailor your email content to each segment so that people will actually want to read it. This results in more conversions and happier customers.

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Trust us, it works! According to a survey by MailChimp who gathered data from users who use list segmentation, segmented campaigns had open rates that were 14.31% higher, clicks that were 100.95% higher and 4.65% lower unsubscribe rates than non-segmented campaigns by the same users.

When using Lead Pilot, you can very easily segment your leads through the platform by following the step-by-step instructions below.

1. Click the “Share” button at the top of your “Edit Draft” side window. This will open a “Share Settings” side window:

Send emails to specific contacts in Lead Pilot

 2. Click the email toggle button so it turns green and then click “Customize” :

Send emails to specific contacts in Lead Pilot

3. Emails will be sent to “All Contacts” by default. Click “X” to remove “All Contacts” and make changes to the recipients:

Send emails to specific contacts in Lead Pilot

4. Click “Options” to open a dropdown of segments and lists to choose from. Select which list(s) or segment(s) you want to send your email content to:

Send emails to specific contacts


6 List Segmentation Best Practices

What’s great about segmenting is that you can have multiple campaigns running at the same time and since they are going to different audiences, it’s okay because they won’t be overlapping. When using the Lead Pilot platform, you can easily segment your lists in several different ways, giving you much more flexibility with what you send.

#1: Segment By Address

If you only work with clients in a certain geographic location, then you can send specific emails based on this. If you are looking to boost your local SEO and really connect with people in the area, then segmenting by address is key.

#2: Segment By Company

If you want to target prospects that work at a certain organization, perhaps you work specifically with physicians at the Mayo Clinic and want to send them targeted information about how their retirement plan is changing or anything else that they would want to know, then you can segment your field this way, as well.

#3: Segment By LEAD Score

As far as the lead score goes, it is a really useful assessment tool for qualifying leads. It is scored on a scale of 1-100 and is tailored specifically to you.

It’s great if you can segment by LEAD score because if someone has a high LEAD score, then it means that they are very engaged with the content that you are sharing and are interested in receiving more of it. Because of this, you can add high LEAD score contacts to their own segment to ensure you are staying in constant contact with them. Low LEAD scores on the other hand need a little bit more nurturing so those contacts should have different messages sent to them.

With LEAD scoring, you can drill down and find out more about each lead and then segment your email list based on how they are interacting with your content. When using this, you can:

  • Easily uncover highly engaged prospects to close more deals.
  • Receive real-time updates so you can act quickly to reach out and close deals when a contact’s engagement is at its peak.
  • Manually assign star ratings to contacts to better predict the quality of your leads.

Additionally, LEAD Scores change in real-time, so you can act quickly to reach out and close deals when a contact’s engagement is at its highest.

Lead Score

#4: Segment By Email Address

This is similar to segmenting by the company name if you want to send a targeted message to a group of clients or prospects who you know all have the same @XYZ email address.

#5: Segment by the Date Added

You’ve created your email segments and sent your targeted emails. That’s great! After engaging in list segmentation, it’s important to take a step back and observe. Check to see if your segments are working, and see what is performing well and what you could be doing better. Create new segments if you need to, and delete or alter ones that may not be specific enough.

#6: Segment by Contact Type

With this type of segmentation, you can decipher between who on your list is a lead or prospect and who is a client to send them targeted messages based on their lifecycle. If someone is at the top of the sales funnel, then you will send them different content than someone who is moving further down the cycle and closer to becoming a client.

Final Thoughts

If you haven’t started list segmentation, don’t worry. It’s not too late to start! Segmenting has very positive effects, and if you do it right, it’s a win-win situation for all. In an industry that is rapidly evolving and highly saturated, it’s important to stay top of mind with useful content while catering specifically to a certain audience that can really take in the specific content.


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About the author

Blair Kelly

Blair is a digital marketing assistant at Twenty Over Ten and has a passion for uncovering what drives online traffic and the highest engagement. She follows more animals on Instagram than humans and her greatest achievement is her daughter, Grey.