Email is definitely the most affordable and cost-effective marketing tool in this digital age. It is also arguably, the single most used medium to stay connected with both prospects and customers alike.
A VentureBeat report states that email is the marketing channel generating the most ROI. In some cases, email marketing can generate $38 for every $1 spent. Having said that, there is much money spent on email marketing campaigns. Having a list of leads and some email content does not mean you are getting the maximum out of the exercise – there is more work to be done.
How best then, to improve your Email ROI?
Here are a few ways –
Segment email list:
There is loads of prospect or customer data all around. It is easy to get lost in this sea of data and even get confused when it comes to – who, where and how. The first thing, therefore, is to segment your customer/prospect base on the lines of a few characteristics such as Demographics, Purchase patterns, Customer behavior, etc.
In fact, the easiest way to segment is, to begin with, the three fundamentals of any customer segmentation – Age, Gender and Location. It is important to note that not every customer will want the same thing or will view your offering in the same way.
Personalize the campaign:
A follow-up on segmentation of email list is the personalization of email. Remember, there is no one-size-fits-all when it comes to email marketing campaigns – it’s all about personalization. The first aspect of a personalized email marketing campaign is to address the customer or prospect by his/her first name instead of a ‘’Hello there’’. This would set the tone and path for what you can achieve as far as personalization goes.
Personalization will help your customers stay relevant, nurture the relationship and in the end, help retain your customers. It’s much cheaper to retain a customer than to acquire a new one.
Create attractive subject lines:
It is a well-known fact that most receivers only look at the subject line of your email and not necessarily the contents of the email. This is where your creative skills must kick in – create a really attractive subject line that grabs the attention of the email subscriber. In fact, studies show that subject line plays a key role in determining whether your subscribers open an email or not.
The better subject lines are clear, concise and give a sense of what readers can expect in the email. Sometimes subject lines can also create a sense of urgency or excitement, ‘’Hurry Up! The offer ends now!’’ or ‘’ Register now to save on costs’’ are a few examples.
Also, remember that people now use mobile devices and subject lines need to be accommodated in the visual frame.
As you begin to know your customers better through their web interactions, behavioral patterns and stages of the buyer’s journey, use triggers or trigger automated emails. Trigger emails help subscribers move through the sales funnel and eventually convert them to customers. For example, if a prospect came until the cart but abandoned it in the last moment, an email suggesting better options or discounted pricing can be sent to re-start the purchase process.
Earn the trust:
First and foremost, it is important to create quality and clean content that actually benefits your subscribers. Yes, the email is all about pushing towards conversions but it should also create some sort of awareness on your offerings and the subsequent benefits. Also, do include an unsubscribe button in the email; this shows that you really care about the time, efforts and privacy of your subscribers. This, in turn, builds the trust with your subscribers which is a good foundation for potential conversions.
The email has so much to offer as a marketing tool if only utilized well enough. There is a definitive way to improve and achieve a greater ROI if the aforementioned pointers can be implemented.