Marketers are constantly challenged to prove the effectiveness of their strategies. CMOs, managers, and CEOs are willing to get educated about what impact marketing activities have on the company’s extremity. Marketers are supposed to think about the effectiveness of their strategies and weigh the prices with results. The marketing strategies that directly impact the company’s revenue stream, like email marketing, should be at the top of the mind. If the marketers deploy an effective strategy, the email is still considered the number one digital channel for ROI. Investing money and valuable time into an email marketing campaign can prove expensive if marketers haven’t established the right strategy.
Tips to Improve the Email Marketing ROI
Here are email marketing tips that can help improve your ROI.
1) Personalize, Personalize, Personalize
Personalization has become obligatory. If the marketer’s brand isn’t setting up personalized email campaigns at this point, they’re missing the mark. Not just that, they’re losing ground with their prospective and current customers as well. Customers now request personalization, and if the brand is unable to deliver it, they will find another one that can. If marketers added a layer of personalization to emails, it enhances the recipient’s experience and boosts higher ROI. Email personalization works:
- When marketers provide personalized experiences. On average, their sales increase up to 20%
- Personalized emails drive increased conversions by 10% and click-through rates by 14%
- Personalization emails drive 6x more transactions
The more personalized segmented marketers can get with their campaigns, the more they can enhance commitment with prospective and current customers.
2) Tailor Rewards & Promotions
Customers are looking forward to feeling that the brands have a whole idea about them. They want products and deals shaped explicitly for them and presented to them in the exact moments they desire to have them. The name of the game is personalization. The more marketers can propose some personalization in the email marketing strategies, the more ROI they generate from these campaigns. Tailoring rewards, promotions, and programs suiting specifically to customers will make them feel like they are getting that truly personal, often customized experience they crave, such as incentive recommendations, etc. Incentives and promotions are usually rolled out in a ‘one-size-fits-all’ to all the customers – one deal for every customer, irrespective of their buying behavior. However, what if one customer prefers free shipping over a 10% discount? Marketers may miss the opportunity to drive them to convert. Individualized incentives permit marketers to modify discounts and deals for a particular customer, boost personalization for the customer, and fuel improved sales and prove ROI.
3) Include a Call-To-Action
One method to upsurge click-through rates and email conversions is by comprising a strong call-to-action. The CTA within the marketers’ email is a valuable share; however, the marketers need an enticing and strategic offer to attract customers to interact with the marketer’s brand. The right CTA is expected to incentivize readers to take measures within marketers’ email by clicking through to the marketer’s landing page or website. Whether it is a product recommendation or a discount code, including highly personalized CTAs, it is expected to boost higher engagement than generic ‘one-size-fits-all’ messages. The stronger marketer’s CTA is within their email, the better chance they have of recipients clicking through and ultimately purchasing.
4) Offer Value
As marketers, the goal should be to engage customers through the point of purchase by proposing them relevant and real value. However, quite often, the pressure of producing revenue and proving ROI from marketing strategies can hinder the way. But, when the marketers focus on offering real value to their customers, the purchase will undoubtedly follow.
5) Optimize for Mobile Devices
It’s considered a mobile-first world, and brands are increasingly and aggressively marketing on it. Smart devices are playing an essential role in the everyday lives of people. People tend to spend more time on their mobile phones than ever before, instead of browsing a social media platform. Consumers have become familiar with utilizing their smart devices as mini-computers that offer access to everything a desktop could enable. However, the way marketers present and market their brand to consumers has also transformed.
Around 61% of emails are accessed on mobile devices, and marketers optimizing their emails has become necessary. Marketers can never be sure that a recipient will open their email on a desktop. Marketers have to improve all of their communications for mobile. However, email is supposed to be the most important. As per the Adestra “Consumer Adoption & Usage Study,” 71.6% of consumers delete emails if they don’t render correctly on mobile. For instance, marketers cannot take the time to develop mobile-friendly email templates; the consumers will not see their email offer, no matter how personalized or useful it may be. With mobile offers being used 10x more than print offers, there’s also a huge opportunity to use mobile to enhance their campaign’s effectiveness and turn mobile email into a successful revenue stream.
6) Test, Track & Learn
Knowing what worked and what didn’t in earlier email marketing campaigns should impact the brand’s future campaigns. When thinking of ROI generated through campaigns, they must track what they have been doing, learn from the results, and test different tactics. If marketers don’t pay attention to these metrics, they can minimize their chances to progress in the future.
• Open rate: As stated before, getting recipients to open a brand’s emails is vital to success. As marketers test different strategies such as the email and its timeline, tracking different strategies may lead to an excellent open rate. However, the more granular marketers can use their knowledge and experience as to who is more likely to open emails, indicating better conversion chances.
• Conversion rate: This metric can be the most telling about your offer or the content within your emails. To boost the revenue and prove ROI from the email channel, marketers need to show that their campaigns propel real conversions. Tracking campaigns and how they’ve been performing gives marketers a great insight into what offers, services, and product recommendations perform best with their clients.
• Unsubscribing rate: A good measure for what may not be clicking (pun intended) or working that well (which is supposed to be addressed imminently) is the unsubscribing rate. When contacts unsubscribe from emails, it indicates that they’re not finding any value from the marketer’s content, which turns out to be a significant issue.
The pressure to drive more conversions is always there for the email marketing teams. It helps them with higher engagement, and eventually, more revenue. However, it’s essential to concentrate on email campaigns’ strategic and creative features. Marketers should pinpoint strategies and tactics that work best for their brand and prove a positive ROI. While email is only one feature of a campaign that is an Omnichannel, it’s an important channel to keep the pulse on. When executing and creating a smart strategy, email marketing is simply the finest channel marketers have for ROI. Testing and tweaking their strategy over time will only advance the results and the impact marketers email campaigns have on revenue.