Why does email marketing continue to outperform other marketing channels? It’s cost effective, targeted and delivers results. According to a recent DMA report from the UK email is delivering a 2,500% ROI!
So for every $1 spent on email, the average return was almost 25 times that amount.
Given the costs of acquiring and using a subscriber database are small, the increased conversion rates experienced produce a very high ROI.
But are you making the most of your email programmes?
Many marketers have similar issues and pain points with their email marketing. The key pain points are focused on delivering personalised email messaging through segmentation, marketing automation and data capture and data analytics. Here are 3 tips to improve your email conversions.
Segmentation, targeting, personalisation
As marketers focus more on delivering personalised experiences both on and off line, the focus on email marketing is going to keep growing. By segmenting your email database you are able to much better target your message so it appeals to your customers’ specific interests and desires.
Audience-specific emails account for 60% of all email-driven revenue. Rather than using a one-size-fits-all approach, marketers are using messages tailored to each recipient. This has a compound effect on the customer relationship – as your messages become more relevant, your audience becomes more receptive to future emails. In addition segmented email campaigns produce 30% higher open rates and a 50% higher CTR than undifferentiated emails.
Here are some ways you can optimise your email campaigns:
- Increase the relevance of email content to each individual customer with minimal overhead using dynamic changeout
- Personalise your content based on customer insight
- Segment your email list by applying filters so you can target different audience groups
- Set up easy-to-edit templates – once you’ve got your template you can re-use the same layout, and just swap out the content for different audiences.
- Insert your database fields directly into your email templates to personalise content – and it will appear only to those people flagged in your database who it will be relevant to.
Marketing Automation has moved beyond ‘batch and blast’ and now offers triggered, relevant communication based on personal, transactional and behavioural data. To drive greater engagement with email, whether on desktop or mobile, many companies are using marketing automation via triggered messaging. But these triggered email communications also need to be personalised to ensure relevant content is delivered to that customer.
Automated email programmes give much higher engagement rates and ROI as they are sent to the customer at a time that is relevant to them. Automated campaigns can be easily integrated into your email marketing activity, whether that’s a welcome, birthday greeting or triggered email based on activity such as cart abandonment or downloading a research report. For marketers it’s efficient and for your customers it’s timely – they receive information exactly when it’s relevant.
Here are some ways you can implement Marketing Automation:
- Implement lifecycle programmes – registration and welcome emails; surprise & delight emails for birthdays and anniversaries; on-boarding and lead nurturing
- Save on manual intervention – let your database help run your lifecycle campaigns
- Simplify and automate and increase efficiency through triggered, targeted campaigns.
Data Capture and analytics
When capturing data consider what you might need for personalisation or targeting. Ensure there is validation when collecting data including mandatory fields and checking formats such as valid email addresses. Sending a welcome email is best practice when you are capturing email opt-ins. An email list will churn about 6% per year. Ensure there are on-going processes in place for keeping data up to date and clean and acquiring new email addresses.
Build an understanding of your customers through collecting information about your customers’ preferences and their actual behaviour. Ask for a minimal amount of information upfront and then incentivise to provide additional details, or use surveys to capture additional information. Use data on any interactions with your email communications and link data from sources such as website visitation and transactional information.
Here are some ways you get more from your data:
- Use your email database insight & reporting tools to measure opens, click-throughs, and how much your audience is sharing your content through social media.
- Carry out split-testing on your email campaigns and track the results for even better conversion.
- Add a layer segmentation analysis to your overall data analysis. For example which segments of your audience had the highest response rates?
It’s easy to measure the exact ROI of your email marketing campaigns by tracking open and click through rates, as well as conversions such as a sales enquiry or a purchase. You can then share your insights with the wider team so that you continually improve on your results.
Email communications may have been around for a long time and may not be ‘sexy’ but as the ROI results show it is certainly hugely effective!