Before we start, you might be wondering, why Email Marketing? Is it still relevant?
Well, email marketing is the battle-tested old guard of all digital marketing strategies. While some digital marketers may scoff at the age-old concept, expert surveys & insightful data analytics reveal email marketing as the undisputed leader of digital marketing. 67% of businesses state that an intelligent email marketing strategy elicits an extremely high ROI compared with more bleeding-edge & modern techniques such as social media marketing, SEO marketing & targeted content marketing.
According to a report by APA Citation Generator, the low costs & minimal investments associated with creating an email list & crafting engaging, customized emails make email marketing one of the most cost-effective promotional avenues ever.
Here are some more stats that reflect the potency of email marketing campaigns.
- The above histogram comes from an article on java assignment, which states that email marketing’s ROI is $40 for every $1 invested. And this trend has been running consistently for years on end.
- Business2Community.com lists some fantastic statistics in one of their reports that reflect the effectiveness of email marketing campaigns. According to them,
- Segmented emailing campaigns have resulted in a 760% boost in revenue generation
- 80% of business professionals claim targeted email marketing increases customer retention.
- 59% of marketers say email offers the highest ROI of all other tactics.
As the online dependency of human society increases exponentially, an email account has become a standard requirement for any tech-savvy netizen. Around 3.8 billion email accounts operating around the world in 2019 and the easy availability of Web-enabled devices & high-speed Internet makes email marketing the most efficacious & economical digital marketing strategy of them all.
The cost-effectiveness of email marketing is bound to lead to some cutthroat competition. From start-up software companies promoting their ingenious CSE citation generator to retail giants re-connecting with their old customer base, emails are among the most potent digital marketing weapons in any company’s arsenal.
So, how does one make their emails stand out from the rest? What kind of content and design can lead to high clicks, increased engagement & a definite action? The following section looks at four practical ways to boost the performance of your email marketing campaigns & the metrics and KPIs for monitoring said effectiveness.
4 Ideas To Boost Your Email Marketing ROIs
Exacting a high ROI from your emailing campaigns requires some considerate effort and informed, intuitive strategizing. Naturally, devising a decisive emailing campaign requires one to have clear ideas about their marketing objectives. What is it that you want to achieve through your campaigns? Do you want to:
- Nurture your leads?
- Reach out to niche audience?
- Promote something new?
- Boost brand awareness? or simply,
- Grow your emailing list?
Though your objectives will be defined by the nature of your business and its goals, they will require the audience to interact, engage & invest themselves in the content at hand.
The following 4 email marketing best practices have the potential to do just that.
1. Customized Emails
Who doesn’t like things done their way? Tailor-made emails that cater to the choices & preferences of their audience have better Click-to-Open-Rates and higher Click-Through Rates.
- Personalized content, catchy & targeted subject lines, and offers & reminders designed with insights from customer-specific data are great ways to diversify & customize emails to your audience’s liking, online behavior or buying patterns.
- Personalized emails are one of the best ways to nurture leads. Customers engage better when they think that a business is talking to them directly and cares about what they want.
For example, an online retail business can remind a visitor of an abandoned shopping cart, offer a point-of-sale link for an item they checked out or provide discount coupons.
- When it comes to reaching out to new prospects or promoting new products/services, nothing works best than beautifully designed emails, which resonate with viewers of the targeted demographic.
Key elements that can lead to effective customization include:
- A solid & intriguing subject line
- Attention grabbing header
- Concise & precise information
- Unique visual content
- Well-placed CTAs
- Responsive designs
- Engaging email signatures
- An ‘unsubscribe’ button
An increase in CTRs, CTORs and conversion rates is a given when emails strike a chord with their recipients.
- Working with Customer Relationship Management & analytics data can help marketers craft emails with meaningful personalization & targeted customization.
Marketers must beware of being overly friendly or faking familiarity, which drives away most wary email readers. Keep things formal and get straight to the point, with a hint of courtesy.
2. Intelligent List Segmentation
That humongous mailing list will be of no use if you do not know anything about the people in it! Do most users in that list even open your emails? How do the preferences of the members differ?
- List segmentation is of paramount importance if you want to boost the KPIs of your campaigns. Group your customers according to their status, preferences, geographical location, age, gender, and other demographical factors.
- Intelligent segmentation leads to accurate & compelling customizations.
- Access customer analytics to identify & understand your email readers. Use email surveys & questionnaires, observe their business interaction patterns, browsing & buying behavior, email marketing metrics, etc., to gain decisive insights.
3. Automate Your Mailing
Gone are the days when you had members of your marketing teams dropping hundreds of emails to catch the reader’s eye. It is the age of automation & data. Numerous automated emailing tools are now available in the market, offering the following benefits in both free & paid versions.
- Timing your email delivery is crucial as it increases vital metrics and boosts the probability of success of your marketing campaigns. Automation tools allow you to set a specific time period for sending mails.
- Marketing automation tools have features to monitor email campaign metrics such as CTRs, CTORs, conversion rates, changes in subscription rates, bounce rate, email sharing rates, etc. They can provide excellent data for brainstorming on the emailing activities of your consumers & determining the best time to send your mails.
- Automation applications offer options to segment & sort your mailing list, provide a wide variety of mail templates and a bunch of other features for crafting effective email marketing campaigns.
- Careful email marketing automation can pave the way for effective drip campaigns, where trigger-based responses will have your perfectly customized emails reach your audience at the right time & schedule.
- Email automation tools offer various options for modifying email delivery & content, as per your subscriber statuses & behaviors.
Here’s a look at some powerful & popular email marketing automation tools.
4. Deliver Value & Connect Deeper
Giving the audience some tangible benefits & definite value is a sure-fire to grab their attention &, in the long run, earn their trust & adulation.
- Offer something for free such as e-books, case studies, white papers, reports, infographics, videos, social media updates, how-to guides, suggestions, add FAQs, etc., anything that delivers definite value to your readers. Drop in some freebies, provide coupons with great discount or codes to redeem rewards.
- Deliver fresh content as often as possible. Tell success stories, talk about recent events & achievements, inform them of an upcoming sales drive, sponsored events, webinars, special promotions and social initiatives.
- Add a link to your latest blogs in your email signatures.
- Give a human touch to your emails by adding team images, bios, exciting anecdotes, positive customer feedback, or by sending a hearty “Thank You” message to your readers & connections!
- Finally, send follow-up emails to show that you care about your leads. Remind them of their past activities and nudge them with some more value-based content.
Here’s an example of a follow-up email from Netflix with valuable information to recipients.
That rounds up this little guide to construing the perfect email marketing campaigns. The above four tips can aid marketing professionals to augment the effectiveness of their campaigns thousandfold. With careful implementation, one can expect a significant boost in your email campaigning ROI.
All the best!
Also read about: 7 Ways to Combine Email Marketing with Search Engine Optimisation