Email marketing can be incredibly effective, but you can’t just send out some random emails and expect results. To successfully use email as part of your overall marketing strategy and get a great ROI, you need to plan your campaign intelligently and make sure you’re following email marketing best practices.
There are so many ways you can reach clients and potential customers in today’s digital age, but connecting via email still offers the highest ROI of any other marketing activity.
It’s clear that email is still both a popular and powerful marketing and communication medium, but how do you know if you’re doing it the right way? A successful email marketing campaign should be doing the following things for your business:
1. Increasing Your Company Revenue
It’s true that email marketing is incredibly cheap compared to many other forms of marketing, but that doesn’t necessarily mean it’s an effective use of your time and resources.
To make sure that your email campaigns are actually generating revenue for your business, you need to calculate how much you’re spending versus your return, and work out your average return on investment.
You can use email analytics to track customer behaviour, and as long as your marketing campaigns are planned out and executed properly, you should be able to trace individual sales back to an email.
To work out your average ROI, multiply the value of an average order by the number of conversions you have made via email. You can then compare this figure to other marketing channels to see how it stacks up.
2. Improving Your Conversion Rate
Email marketing can bring you direct revenue, but as well as tracking actual sales and ROI, you should also consider other types of conversions.
Communication with your customers via email is an excellent way to improve engagement and nurture leads to make them more likely to complete a purchase in the future.
Tracking open rates, click rates, unsubscribes, forwards, and conversions can give you an idea of how effective your email campaigns are and allow you to measure how fast a lead from a nurtured email leads to a conversion compared to non-nurtured leads.
You don’t have to make a sale from every single email to consider it a success. Instead, consider the impact on engagement from touching base regularly with your customers, and how this increases the value of each lead over time.
3. Increasing Your Website Traffic
There are several different avenues you can take to increase your website traffic – PPC, SEO, and social media can all help to bring more traffic to your website.
However, in many cases, the traffic coming from your email list is more valuable than traffic from other sources. This is because it’s coming from nurtured leads that have already shown an interest in your brand and are more likely to convert into a sale.
Measuring the click-through rate for your marketing emails can help you to measure their relevancy so that you can fine-tune your content and offers for segmented groups in your list.
The click-to-open rate is also an important metric that shouldn’t be overlooked. You can calculate this figure by dividing the number of clicks by the number of emails that have been opened. This will give you an idea of how engaging your emails are and can help you to improve your marketing ROI.
4. Increasing Your Brand Awareness
One of the most powerful aspects of email marketing is how it can help you to build relationships with your customers and increasing their trust and value in your brand.
Unlike other forms of marketing, in an email you are communicating directly with one customer. While email campaigns are generic in nature, personalisation and dynamic content allow you to target your message and provide content that is uniquely valuable to each individual.
Apart from the easier-to-measure aspects such as clicks through to your site and increased sales, consistently reminding leads about presence will help to build brand awareness and customer loyalty.
If you’re getting organic links back to your site, try to investigate the origin of some of these links. If they’re coming from people who have had email communications from you, this is a good sign that your campaigns are working effectively. An increase in direct traffic also shows that more people are remembering your brand and your URL.
Set Your Business up for Success with Email Marketing
Is your business currently using email marketing as part of its marketing strategy? Here at Swift Digital, we can help you with your marketing automation needs to make your campaigns a success!
To find out how your business can get the best out of Swift Digital’s platform, contact our team today on 02 9929 7001.