Every single dollar that goes into marketing is valuable. Because your time is valuable.
With email marketing, many still wonder if it’s worth their dollar or if they should even still use it.
The answer is yes. 1000x yes. Email marketing, when done right, is set up to make you money and continue making you money for years to come. In fact, Litmus shared that for every $1 you spend on email marketing, you can expect an average return of $36. Compared to other marketing platforms, that’s the highest there is. We understand if you still have your doubts though. Email has been around for a long time (too long some think). But there’s a reason it’s still one of the go-to marketing tactics.
If your brand is struggling to make email with their while, this post is for you.
What exactly is Email Marketing ROI?
ROI stands for “return on investment”. Email marketing ROI is the term used to describe the metric that defines the success of a given email marketing campaign.
Tracking the EXACT ROI for email marketing isn’t always as straightforward as it sounds. Email used for marketing purposes can accomplish so much for your business including awareness, relationship growth, increase in social platforms/website, and profit growth. Keep in mind that email can do any number of things as long as it’s contributing towards your established business or marketing goals. Your idea of ROI may look much different than the business down the street. They may see effective ROI as gaining the most followers as possible on their Facebook platform while you may see it as gaining the highest dollar. Either way, the tactics below are recommended strategies to maximize your investment.
How to Maximize Your Email Marketing ROI
1. Segment Your Audiences
Once again, it all comes back to your target audiences. By separating out your email distribution list into core groups and their behaviors, your marketing strategy will instantly become more strategic and focused. Some end-users may want to read more on your website while others would prefer to interact via seminar. Either way, the CTA and outcome looks different.
Using this tactic also allows you to create customized journeys based on where they jump in through the sales cycle. Again, this directly addresses their need and isn’t a “one-size-fits-all” solution. Thereby, increasing your conversions significantly.
2. Make it Personal
Industry talk is fine for the most recent convention but keep your emails relatable through storytelling, tips and tricks, and conversations. Many email tools today too allow for name inserts in the subject line as well as in the body text. The more personal (but professional), the better. Your audience will thank you and you will be less likely to end up in the spam folder.
3. Consider Timing
The time you send your messages can make or break whether or not a user even opens the email. Analytics in general suggests Tuesday mornings but this doesn’t necessarily mean it works for your target audience. Start there, and test out other times to see where you get the biggest bang for conversions. And folks, we’re not talking about testing 1-2 times. We’re testing out a full campaign or multiple emails. It will be revealing of how future messages will perform in the future.
4. Insert Quality Imagery and Branding
Guys, aesthetics are a big thing. Big.
Whether you like it or not, people are visual and will click away in an INSTANT if they aren’t pleased with what they see. Now, I’m not saying everything has to be 100K+ in photography and design spend but it should seriously stand out from your competitors.
We get it – not every industry requires intense graphics. But for heavens sake, please use professional and clean imagery, preferably pictures of your workspace that is specific to YOU. Stock images are useful in some cases, but where possible, use your own.
With campaigns, ensure the medium matches the end goal. Sometimes video works better and sometimes pictures say it all. Use discretion and wisdom when building out your marketing campaign via email.
Last but not least with graphics, be consistent. Your emails should fall directly in line with your company brand look and shouldn’t cause alarm for regular followers.
5.Use Customer Journeys
This was mentioned above when referring to target audiences. Setting up automated flows with triggers and jump points that vary based on user action can really set you apart from others that just send one email a month and are done.
Sure, customer journeys take some time to set up and require that you have content to feed it, but once they’re established, you don’t have a ton of work to continue to do on your end.
Not all customer journeys have to be sales-dependent either. It can be based on signing up for a newsletter, coming in from your website, jumping in from social media, and whether or not they downloaded free material. Whatever the case may be, try and use it to your advantage.
Generating regular emails that convert isn’t easy. The most important thing to do if you haven’t already is just to consider and start using email marketing. From there, it’s a matter of implementing our suggestions above and working from there. If you’re having trouble getting going or need more tactical direction, Onya would be happy to help. Reach out today to learn more!