14 Essentials to Maximize Your ROI
Email marketing is a direct marketing approach that uses electronic mail as a means of communicating commercial or fundraising messages to an audience. In its broadest sense, every email sent to a potential or current customer could be considered email marketing. However, the term is usually used to refer to (1) sending emails with the purpose of enhancing the relationship of a merchant with its current or previous customers, and (2) sending emails with the purpose of acquiring new customers or convincing current customers to purchase something immediately.
The main difference between email marketing and other types of direct marketing is that with email marketing, businesses can communicate one-to-one, as opposed to one-to-many. This allows for more personalized attention that can result in better conversion rates.
While the statistics are overwhelmingly in favor of email marketing as the best method for converting leads, but you can’t expect those kinds of returns without putting a lot of thought and effort into your campaigns.
Having your own email list is obviously ideal, but if you don't have one you can utilize other lead-generation methods to help you get started. Either way, you're going to want to capitalize on the 50% of people who say they buy from marketing emails at least once per month or the 59% of people who say that marketing emails have influenced their purchases.
But let's not get ahead of ourselves. How many bad marketing emails have you received for everyone that’s converted you? Nearly 1 in 5 email campaigns aren’t optimized for mobile devices, and 41% of marketing emails are viewed on smartphones (59% of millennials, and 67% of Gen Z).
Email marketing isn't just about sending out mass emails to everyone on your list. The success of your email marketing campaigns depends on three things: the quality of your list, the quality of your content, and the frequency with which you send emails. Keep these things in mind as we go over some tips for successful email marketing.
Keep your list clean and up-to-date.
Remove any inactive subscribers, bounced addresses, and duplicates on a regular basis. Not only will this keep your list manageable, but it will also improve your deliverability rate (the percentage of messages that are successfully delivered to subscribers' inboxes).
Make sure you have permission to send emails.
This seems like a no-brainer, but it's important to make sure that everyone on your list has opted in to receive emails from you. Otherwise, you risk being marked as a spammer.
A larger list does not mean a larger ROI.
There is a point of diminishing returns when it comes to large email lists. Instead of blasting one giant list with the same content, consider segmenting those lists and personalizing your content as much as possible.
Too few or too many emails per month hurts email ROI.
Daily is too much, and monthly is not enough. Based on studies, the sweet spot seems to be between 9-16 emails per month. While slightly more or less still generate significant returns, we're going for outstanding, not pretty good results.
Testing your emails leads to higher ROI.
Companies that test their email campaigns enjoyed 28% higher ROI than their counterparts. Keep it simple at first by testing different subject lines. Definitely make sure you're testing for spam filters and deliverability, and preview before sending for formatting issues. Once you're comfortable, you can start testing different content and even the landing pages where you're directing traffic.
Personalized content leads to higher returns.
Dynamic content is essential to add a personalized touch to your email campaigns, and companies that do experience ROIs 4x higher than companies that don’t.
Make sure you have permission to send emails.
This seems like a no-brainer, but it's important to make sure that everyone on your list has opted in to receive emails from you. Otherwise, you risk being marked as a spammer.
Know your audience.
Segmenting your list allows you to send targeted content that is relevant to each group of subscribers. This increases engagement and makes people more likely to open and click through your emails.