5 Ways To Get The Most ROI Out Of Your Email Marketing Campaigns
Email marketing can help businesses of all shapes and sizes achieve their marketing goals. However, the results vary greatly depending on how the email campaign is executed. Whether you aim to generate revenue, leads, or other outcomes, you’ll get the best ROI only after utilizing email marketing correctly. You can always use cheap email marketing services to help you achieve your goal more cost-effectively. Let’s discuss how you can get the most ROI on your email marketing campaigns and get the results you want.
According to data conducted by Campaign Monitor, more than fifty percent of consumers indicate that they prefer to get information from the businesses they follow through email rather than any other medium. When it comes to the expansion of income, the number of new email subscribers is not the only aspect that contributes to a strong return on investment from email marketing. Because of its relatively low cost, this strategy for digital marketing is becoming an increasingly popular choice among companies.
5 Ways To Improve Your Email Marketing Campaigns
In your email marketing campaigns, you’ve undoubtedly received customer complaints regarding your messages. More likely than not, they didn’t even read what was in your email. They just saw it and took offense.
The key is understanding that different people value different things differently, so you need to be as specific as possible when creating content for your customers.
Here are five ways you can use to generate the most ROI out of your email marketing:
1. Find Your Audience
Before you start writing your email marketing campaigns, you need to find your audience. You can use Google Analytics to see who visits your website and where they’re coming from.
Don’t forget to look at referrals or direct traffic and organic traffic. If people visit a page on your site organically, they’re likely interested in its content.
You can then send them an email when a new post similar to that topic is published; these emails get great open rates and high click-through rates, so make sure you take advantage of those opportunities.
2. Set Realistic Goals
If you’re sending an email marketing campaign with little or no expectations, you’re setting yourself up for failure. Instead, set realistic goals for each of your campaigns.
Do you want to increase click-through rates by 10 percent? Do you want to increase sales by $2,000? Set a goal and track your progress every time.
You can also adjust your campaign based on what worked and what didn’t work. For example, after increasing sales by 1 percent during your first campaign, perhaps next time, you could try something else that didn’t seem to resonate with your audience during a previous email campaign.
3. Create A Data-Driven Strategy
If you’re sending cold emails, start with a laser-focused campaign targeting a segment of your customer base that has responded positively to your emails in the past.
This way, you’ll be able to create more content that they’ll want to open and consequently get better results with each successive campaign.
Plan out what days and times you’re going to send your campaigns based on previous responses. Before starting each new drive, it also makes sense to look at performance metrics like clicks per email, unsubscribes, and bounces.
4. Involve Your Team
Creating your email marketing campaign shouldn’t be a solitary activity. Involve your whole team in setting goals, identifying and evaluating target audiences, and brainstorming content.
You can also use an in-house designer or have one from an agency or freelancer create custom graphics for your email campaigns that will help you stand out from other companies competing for people’s attention.
If you are using a template for creating your email marketing campaign, ask yourself if there are ways you can improve upon it by adding more relevant links, videos, or photos. No matter how great your templates look on screen, they won’t translate into excellent results unless they appeal to your target audience.
5. Follow Up With Customers
It’s tempting to spend all your energy luring new leads, but don’t forget about those who already know you.
Be sure you and your team regularly contact your existing customers with offers they can’t refuse, which goes beyond simply offering more products or services.
Loyalty programs, polls, and contests encourage repeat business by reminding them what they like about working with you and keeping them engaged.
Moreover, the initial follow-up email can bring up to 40% more replies than the first email.
Calculate Your Email Marketing ROI
When attempting to calculate your email marketing campaign nurturing ROI, you may consider a number of various metrics, including the following:
- Engagement – By measuring engagement, you may assess the effectiveness of your business’s client relations. You should take into account the metrics of open rates, click rates, unsubscribes, and conversions in order to assess interaction effectively.
- Lead acceleration is the process of monitoring how quickly nurtured email leads progress from awareness. Another approach to calculate email marketing ROI is from stage to consideration and from consideration to decision stage.
- Impact on Revenue – Although a user making a purchase based on a single email is uncommon. The effect your campaigns have on your income over time and across many touchpoints may be measured.
Email marketing is still one of the best lead generation and customer retention tools. But, to maximize its potential and drive profit, you need a solid email marketing strategy that goes well beyond simple broadcast emails and a few decent design templates.
Because if you’re not sending emails that entice your subscribers, you’re driving them away.
11+ years strategic communications, marketing, and project management experience. I am a trainer at StarWood Training Institute, focusing on online courses for project management professionals.