Email Marketing ROI at $40
Email Marketing continues to be one of the very effective direct marketing channels.
According to the Direct Marketing Association’s Power of Direct economic impact study released in October, Email is bringing in $40.56 for every dollar spent on it this year. (The Direct Marketing Association (DMA) is a trade association of businesses using and supporting multichannel direct marketing tools and techniques. IT represents companies in the US and 48 other nations).
Other ROI statistics given by DMA are
* ROI of catalogs is $7.30,
* Search’s return is $22.24,
* Internet display advertising’s return is $19.72 and
* Mobile’s return is $10.51.
Here is the source for more reading.
For all you evil generals who think Email Marketing does not deliver, here is our revenge:
3 Tips to make the best of email marketing
So how can you make your emails more effective? Here are 3 things do improve your email program:
1] Send Welcome Email
Readers are most engaged when they share their email with you. Sending a welcome email helps reinforce that engagement. Do send a welcome email as soon as possible. It helps to thank the readers and tell them what content to expect from the newsletters.
The open rates and click rates for welcome emails are among the highest, so many ecommerce retailers include a welcome discount coupon. This gives an incentive to readers to purchase online when they are most engaged.
2] Segment your Audience
If you are sending the same communication to every single customer then you might see the open rates fall over a period of time as “list-fatigue” sets in.
It makes sense to start segmenting your audience. While segmenting can get very involved here are you can start by
* Segment data into city wise lists
* Segment data into new and old customers or Loyalty card holders and others or
* Segment lists into investors based on the value of purchase, or those who have opened and clicked previously etc.
3] Track Email in your Analytics program (e.g. Google Analytics)
Once you start getting data you there are many more ways you can understand your reader’s behavior.
We have seen that Email readers read more pages, spend more time and have lower bounce rate (bounce rate = visitors who look at one page and leave immediately). (See how to track your email clicks in Google Analytics)
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