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Anne Clark
How to determine your Return On Investment (ROI) on your email marketing

How to determine your Return On Investment (ROI) on your email marketing

by | Aug 15, 2023 | Business, Digital Marketing, Email Marketing, Mailchimp

Calculating the Return on Investment (ROI) for your email marketing campaign involves comparing the revenue generated from the campaign against the costs associated with running it.

Here’s a step-by-step guide to help you determine your ROI for email marketing:

  1. Define Your Goals and Objectives

Start by setting clear goals for your email marketing campaign. Are you aiming to generate direct sales, increase website traffic, gain new subscribers, or achieve some other objective? Clearly define what success looks like for your campaign.

  1. Calculate Costs

Determine all the costs associated with your email marketing campaign. These may include expenses like:

– Email marketing platform or software subscription fees
– Costs of creating email content (copywriting, design, images)
– Costs of any third-party tools or services used (e.g., analytics, automation)
– Staff salaries or contractor fees for campaign planning and execution

  1. Track Revenue

Measure the direct revenue generated as a result of your email marketing campaign. This might include:

– Sales directly attributed to the campaign (tracked through unique promo codes, links)
– Conversions from email subscribers who made a purchase after receiving the email
– Any other revenue-related metrics that align with your campaign goals

  1. Exclude Other Factors

Make sure to exclude any revenue or costs that are not directly related to your email marketing campaign. This helps ensure an accurate ROI calculation.

  1. ROI Calculation

ROI = (Revenue – Costs) / Costs * 100

For example, if your email marketing campaign generated $10,000 in revenue and the total campaign costs were $2,000:

ROI = ($10,000 – $2,000) / $2,000 * 100 = 400%

  1. Interpretation

A positive ROI indicates that your email marketing campaign was profitable. A negative ROI suggests that your campaign costs exceeded the generated revenue. A higher ROI percentage implies a more successful campaign in terms of returns relative to costs.

  1. Consider Other Metrics

While ROI is a crucial metric, it’s also important to consider other performance indicators, such as click-through rate (CTR), conversion rate, open rate, subscriber growth, and customer lifetime value. These metrics provide additional insights into the effectiveness of your campaign beyond just revenue and costs.

  1. Continual Analysis and Improvement

Regularly analyze your email marketing campaign’s performance and adjust your strategies accordingly. Test different subject lines, content formats, send times, and targeting to optimize your results and improve your ROI over time.

  1. Segmentation and Personalization

Utilise segmentation and personalisation techniques to tailor your email content to specific audience segments. This can lead to higher engagement, better conversion rates, and ultimately a higher ROI.

  1. Long-Term Considerations

Remember that email marketing’s impact might extend beyond immediate revenue. Engaged subscribers can become long-term customers, and the branding and relationship-building aspects of email marketing can contribute to customer loyalty and repeat business.

By following these steps and regularly evaluating your email marketing campaign’s performance, you can effectively determine its ROI and make informed decisions to improve your marketing strategies.

 

Why Email Marketing Is Essential For Building Customer Loyalty and Trust

Why Email Marketing Is Essential For Building Customer Loyalty and Trust

by | May 24, 2023 | Business, Email Marketing

Email marketing has been around for quite some time now, but it remains one of the most powerful tools for building customer loyalty and trust. In today’s digital world, where consumers are bombarded with endless streams of information, email marketing provides a unique opportunity to cut through the noise and engage with your audience on a more personal level. By crafting targeted email campaigns that resonate with your customers’ needs and interests, you can build lasting relationships that translate into repeat business and referrals. In this article, we’ll explore the many benefits of email marketing and how it can help you establish a loyal customer base that trusts and values your brand. So sit back, grab a cup of coffee, and let’s dive into the world of email marketing!

How email marketing builds trust with customers

Trust is a critical factor in building customer loyalty. Customers want to do business with brands that they can trust and rely on. Email marketing can be an effective tool for building trust with your customers by providing them with valuable content and personalized experiences.

When you send out targeted email campaigns that deliver value, you demonstrate to your customers that you understand their needs and are committed to providing them with solutions. This helps build trust and credibility for your brand and encourages your customers to engage with you further.

Moreover, email marketing allows you to personalize your messages based on your customers’ interests and behaviors. By tailoring your content to their specific needs, you can create a more engaging and personalized experience that resonates with your audience and builds trust.

Another way that email marketing builds trust is by providing a way for customers to provide feedback and engage with your brand. By encouraging your customers to share their thoughts and opinions, you demonstrate that you value their input and are committed to improving their experience with your brand.

Understanding your audience for effective email marketing

To create effective email campaigns that resonate with your audience, you need to understand their needs and interests. One way to do this is by segmenting your email list based on various factors such as demographics, behavior, and interests.

Segmentation allows you to tailor your messages to specific groups of customers, delivering content that is relevant and valuable to them. This helps increase engagement and ultimately leads to higher conversions and customer loyalty.

Another way to understand your audience is by conducting surveys and gathering feedback from your customers. This provides valuable insights into their needs and preferences, allowing you to create more effective email campaigns that deliver value and resonate with your audience.

Finally, it’s essential to regularly review your email marketing metrics to gain insights into how your campaigns are performing. This allows you to make data-driven decisions and adjust your strategies accordingly to better meet the needs of your audience.

Creating valuable content for your email campaigns

Creating valuable content is key to the success of your email campaigns. Customers are inundated with countless emails every day, so it’s essential to create content that stands out and delivers value.

One way to create valuable content is by providing educational resources that help your customers solve their problems. This can include how-to guides, tutorials, and other helpful resources that demonstrate your expertise and provide value to your customers.

Another way to create valuable content is by offering exclusive promotions and discounts to your email subscribers. This incentivizes customers to engage with your brand and can help increase conversions and customer loyalty.

Finally, it’s important to create content that is visually appealing and easy to read. Use images, videos, and other multimedia elements to break up your content and make it more engaging for your audience.

Designing effective email templates

Design is an essential aspect of email marketing. Your email templates need to be visually appealing and easy to navigate to grab your customers’ attention and encourage engagement.

When designing your email templates, it’s important to keep them simple and straightforward. Use a clear and concise subject line that accurately reflects the content of your email. Additionally, use white space and clear formatting to make your content more readable and easy to follow.

Another important design element is the use of a call-to-action (CTA). Your CTA should be prominently displayed and encourage your customers to take action, whether it’s making a purchase or signing up for a newsletter.

Finally, make sure that your email templates are mobile-friendly. With more and more customers accessing their emails on mobile devices, it’s essential to create templates that are optimized for smaller screens and touch-based navigation.

Personalizing your emails for better engagement

Personalization is a powerful tool for improving engagement and building customer loyalty. By tailoring your messages to your customers’ interests and behaviors, you can create a more personalized and engaging experience that resonates with your audience.

One way to personalize your emails is by using dynamic content that changes based on your customers’ preferences. This allows you to deliver content that is relevant and valuable to your customers, increasing engagement and ultimately leading to higher conversions.

Another way to personalize your emails is by using personalization tokens that insert your customers’ name or other personal information into the email. This makes your messages feel more personalized and helps build trust and credibility for your brand.

Finally, use segmentation to deliver personalized messages to specific groups of customers. By tailoring your content to their needs and interests, you can create a more engaging and personalized experience that resonates with your audience and builds loyalty.

Building and growing your email list

Building and growing your email list is an essential aspect of email marketing. Without a robust and engaged email list, your campaigns will not be as effective in building customer loyalty and trust.

One way to build your email list is by offering valuable content or exclusive promotions in exchange for email sign-ups. This incentivizes customers to engage with your brand and provides them with a reason to sign up for your email list.

Another way to grow your email list is by using social media to promote your email campaigns and encourage sign-ups. Use social media platforms such as Facebook and Twitter to reach a wider audience and drive more traffic to your website.

Finally, make it easy for customers to sign up for your email list by prominently displaying sign-up forms on your website and other marketing materials.

Measuring the success of your email marketing campaigns

Measuring the success of your email marketing campaigns is essential to understanding what works and what doesn’t. By regularly reviewing your email marketing metrics, you can gain insights into how your campaigns are performing and adjust your strategies accordingly.

Some key metrics to track include open rates, click-through rates, and conversion rates. Additionally, track metrics such as bounce rates and unsubscribe rates to understand how engaged your audience is with your content.

Finally, use A/B testing to experiment with different email templates and content to see what resonates best with your audience. This allows you to make data-driven decisions and improve the effectiveness of your email campaigns over time.

Email marketing best practices for customer loyalty and trust

To build customer loyalty and trust through email marketing, there are several best practices to keep in mind:

1. Provide value: Deliver valuable content that solves your customers’ problems and delivers real value.

2. Personalize your messages: Tailor your messages to your customers’ needs and interests to create a more engaging and personalized experience.

3. Be consistent: Regularly send out email campaigns to stay top-of-mind with your audience.

4. Measure your results: Regularly review your email marketing metrics to gain insights into how your campaigns are performing and adjust your strategies accordingly.

5. Keep it simple: Use clear and concise messaging and formatting to make your emails easy to read and navigate.

Email marketing is an essential tool for building customer loyalty and trust in today’s digital world. By crafting targeted email campaigns that deliver value and resonate with your audience, you can build lasting relationships that translate into repeat business and referrals. Understanding your audience, creating valuable content, and personalizing your messages are key to the success of your email marketing campaigns. By following best practices and regularly measuring your results, you can improve the effectiveness of your email campaigns over time and build a loyal customer base that trusts and values your brand.

How your business can grow its returns with email marketing

How your business can grow its returns with email marketing

by | May 8, 2023 | Business, Customer Service, Digital Marketing, Email Marketing, Mailchimp

Email marketing gives you immediate access to your audience by allowing you to send your content directly to their inboxes, which can lead to increased conversions and brand loyalty.

According to research email marketing has the highest return on investment than any other form of digital marketing.

Here are some best practices for using email marketing in your business:

The first step is to build a list.

You can’t market to anyone if you don’t have their contact information, and the best way to do that is by building an email list.

You want to develop an offering of some form that entices your target market to subscribe to your list. For example; a retail store may offer a discount on their first purchase, and service-based business might offer something that showcases their expertise and gives their audience a sample of how their services will benefit them. Give a solution to the most common problem your target market may have.

Send emails with personalized content that engages your readers.

Personalised content

  • is more effective,
  • helps build a relationship with customers, and
  • helps you stand out from competitors.

Personalised emails are more likely to be read and acted upon by your customers, which can increase customer satisfaction levels if used appropriately.

Automate where possible

When someone signs up to your mailing list, create an automation where you welcome them and introduce your business and services in more detail so they can get to know you.

Some kinds of automation you can also add that have great ROI (return on investment) are

Anniversary or birthday emails – make your audience feel special. Sending a birthday or anniversary email is a wonderful way to make a customer feel special. You can add an incentive for them to buy products as part of their birthday wishes, for example: when they spend $50, they will receive a birthday gift valued at $30.

Abandon Cart or Recovery emails – often people can get distracted on a website and forget to finish their purchases, a simple email saying you held their items for them can see purchases completed.

Some interesting statistics on abandoned cart emails by Moosend

  • A staggering average of 69% of online carts are being abandoned by users 
  • 45% of cart abandonment emails are opened; 21% of all are clicked on, while 50% of the users clicked purchase. 
  • Shipping-related reasons contribute to over 60% of carts being abandoned. 
  • Setting up an automated cart abandonment email is a great way to lower your cart abandonment rates.
  • Offer free shipping to really boost the conversion of your cart abandonment emails.

Perhaps incorporating free shipping more regularly in your marketing offers could be a great conversion for your business, obviously, you would have set guidelines around this such as minimum spend amount, or limited time offer. 

Consistency

Send out a regular newsletter is important, this can be weekly, fortnightly or monthly. Consistency is key. Your target market has given you permission to be able to email them, so don’t allow this opportunity to be missed. Life gets busy, so being consistent is a gentle way of reminding your audience you are still there if they need you!

Content

Make sure your content is valuable to your audience. It’s a privilege that they’ve allowed you to email them directly, so treat them with that same respect. Where possible throughout your content, don’t be afraid to insert their first name.  

When creating your newsletter, create the value of sharing your content and showcasing your expertise.  

Whilst we have AI here to help you along, only YOU can make it a personal experience for your audience. 

Need Help?

If you’re feeling overwhelmed by the whole process, then feel free to reach out to me for assistance. Creating opt-in, automations, funnels and newsletters is one of my specialities.

Some wise words for you

David Newman says “Email has an ability many channels don’t: creating valuable, personal touches—at scale.”

Ramsay Leimenstoll says “A small list that wants exactly what you’re offering is better than a bigger list that isn’t committed.”

Ann Handley says “Make the customer the hero of your story”

Karl Murray says “Focus on growing your list all the time as newer subscribers are more engaged, adding to healthier open rates and ROI.”

Why email marketing is a MUST for any business

Why email marketing is a MUST for any business

by | Nov 8, 2022 | Business, Digital Marketing, Email Marketing

Why email marketing is a MUST for any business

If you’re like me and have a business, then you know that marketing is one of the most important parts of running it. And if you’ve been around for any length of time, you’ve probably seen a lot of the same old stuff when it comes to marketing: Google ads, Facebook ads, print advertising…and so on. But what if I told you that there’s a form of advertising that can help your business stand out from all the others? What if I said this form of advertising was proven to bring in more revenue? The answer is email marketing—but don’t just take my word for it!

Email marketing gives you intimate access to a customer’s inbox.

Email marketing is the most personal and intimate of all digital marketing channels.

Email gives you a direct line to your customers.

It’s the only channel that can be personalized to each customer.

You can use email to send targeted messages to specific customers, or broadcast a message out to all customers at once, depending on what type of campaign you want to run.

Email advertising is proven to make money.

Email advertising is one of the most cost effective ways to advertise. According to a study by McKinsey & Company, email marketing has a higher return on investment than other forms of advertising. When it comes to digital advertising, there is no denying that email has been and will continue to be one of the most effective ways for marketers to get their message in front of their target audience at scale.

Email marketing can be more effective than other forms of advertising

There are many reasons why email can outperform other forms of digital marketing and why you should consider using it as part of your overall strategy:

  • Email is more targeted than any other form of online media (including social). This means that your audience is more likely to be interested in what you have to say because they’ve opted-in or been actively “marketed” towards this content through previous interactions with your business (e.g., newsletter signup).

Email gets people clicking through your website.

You can’t just send out an email and expect people to click through your website like they used to. The key is to have a call-to-action (CTA) in your email that encourages people to click through. This helps you turn more leads into customers, as well as increase the number of sales you make from each lead.

The best way for businesses to use email marketing is by creating newsletters and promoting them on social media sites like Facebook and Twitter, or even LinkedIn if it’s more appropriate for your business. You should also include a CTA in these emails that encourages people who receive them to visit the website or sign up for other services offered by your company.

For example: “Learn how we did it here.”

You get an invaluable opportunity to re-connect with inactive customers.

The best way to re-connect with inactive customers is by sending out a newsletter. This is an incredibly effective way to re-engage with your audience and let them know about new products, services or promotions that are happening. By doing this you’re reminding them of what your business has to offer and how it can benefit them.

You can also use newsletters as a way of thanking people for their support or loyalty over the years, which will help build up trust in the brand name going forward. Another great thing about using newsletters is that they’re easy enough for anyone on your team to create!

Email marketing lets you reach customers in a personal way that other media don’t offer.

One of the biggest advantages of email marketing is that it is a personal medium. When you send an email to someone, you are directly reaching out to them, and they know that it’s coming from YOU. There’s no middleman involved; no third party who may or may not be delivering your message in the way you intended.

Email also gives you more control over what information gets sent out. For example, when someone signs up for your newsletter or other updates through social media channels like Facebook Messenger, they might have to accept several permissions before receiving any messages from your business—and even after accepting these permissions, there’s no guarantee that all messages will get through anyway!

With email marketing campaigns, however, everything goes straight into the inboxes of people who have already granted permission by subscribing via email address or phone number (or both). And if some of those subscribers decide later on that they don’t want any more information from one company? They can just unsubscribe—no hoops required!

I encourage you, if you haven’t already, to implement your email marketing from an opt-in sequence to regular newsletters and special broadcasts for special events.  If you have any questions about how to get started or what tools are best for your needs, feel free to contact me here.

Why email marketing is important to your business

Why email marketing is important to your business

by | Oct 21, 2022 | Business, Digital Marketing, Email Marketing, Mailchimp

Email marketing is still alive and well, with over 12 billion emails sent every day. It’s not going anywhere. Email is a great platform for personalized messages to reach your customers and potential customers in their inboxes where they’re most likely to respond. In this article, you will learn why email marketing is vital to your business’ success, as well as how to get started with it if you haven’t yet!

Personalization.

Personalization is the key to getting your emails opened, clicked on and read. In fact, personalization has been shown to increase open rates by up to 80%.

It can also help you connect with your audience by showing them that you’ve taken the time to learn more about who they are as individuals.

Branding.

Email marketing is an effective way to build your brand.

It allows you to connect with customers and demonstrate that you care about their needs. By building a relationship with your audience, you’re creating trust and loyalty, which will allow them to feel more comfortable purchasing from you in the future.

This sense of trust and comfort can also help your business stand out from competitors who are trying to get noticed in this crowded market by using flashy ads, gimmicks or slogans that don’t really mean much for consumers (or even make them laugh). If a consumer trusts an email because it’s coming directly from someone within the company they know or has been recommended by someone they trust, then they’ll likely be more willing to give that particular business their attention than one whose only selling point is having a catchy tagline!

Customer retention.

Email marketing helps you keep in touch with your customers. You can send them deals or newsletters to remind them of your products and services. You can also use email marketing to get feedback from customers on what they like and don’t like about your business.

This is a great way for you to learn about which parts of your business are working well, so that you can improve them in the future!

Audience development.

Email marketing is a great way to grow your audience. Email is one of the most effective ways to engage with customers, especially if you want them to take action and buy something from you.

Email marketing is also a great way for brands to get their followers’ attention on social media platforms like Facebook, Twitter and Instagram. Social media marketing allows businesses to engage with customers in real-time conversations by posting updates about new products or services as well as sharing industry news that may be relevant for their followers/customers

Revenue.

Email marketing is also an effective way to generate revenue. For example, consider the following statistics from Case, who has conducted a study on email marketing:

  • Email is one of the most effective channels for generating revenue with each email campaign generating an average of $39 in sales.
  • On average, email marketing generates 126% more ROI than other channels like search engine optimization and social media marketing.
  • Email marketing can help you increase revenue by up to 200%.

Email marketing is important to your business because it still works, and it’s always growing and changing to be more effective for all sorts of businesses worldwide.

Email marketing is important to your business because it still works, and it’s always growing and changing to be more effective for all sorts of businesses worldwide.

Email marketing is still effective because it’s personal. The internet has made our lives easier in many ways, but one thing hasn’t changed: people like to feel special. Email gives you the opportunity to make each recipient feel like they’re receiving a message just for them, rather than part of a mass mailing list that could include anyone who shares their name or birthday.

Email marketing is growing because it’s so flexible. There’s no limit on how far your email campaign can go—or how many new leads it can bring!

Email marketing continues to change as technology advances year after year; however those changes are not always immediately noticeable by small business owners who depend on email campaigns as an integral part of their overall brand strategy.

And that’s it! I hope this article has helped you understand why email marketing is still so important to businesses today. We know that everyone seems to be talking about social media, but don’t forget about the power of personalized messages in your inbox. The best part of all? You don’t need anything fancy to get started with email marketing; just sign up for an account with any provider, start building your list now by adding contacts one at a time, then follow these tips outlined above when crafting your next message!