While social media, search engine optimization and content marketing are the shiny new toys, email advertising remains the single most effective way to convert new prospects into loyal customers and guarantee a return on your investment.
But as with any marketing effort, it’s best to do your homework before committing.
the money in email marketing
Newsmax recently reported that the return on investment for email marketing has proven to be the highest. One study from EmailExpert.org revealed that the average return on a $1 investment in email marketing was $44.25 in 2014.
Although the firm’s methodologies for coming up with this number were not immediately available, the source pointed out that leading publication Harvard Business Review has also put forth the suggestion that email marketing is the most effective advertising medium there is today.
“With TV you do not know who is watching your ads. Ditto with print. Even with direct mail, you cannot be sure that your mail has been delivered, or that anyone reads it when it gets there,” HBR affirmed. “With email, you know within 24 hours exactly which messages have been opened, by whom, what links the openers clicked on and what part of your message was working.”
Email marketing optimization is key
Search Engine Journal recently argued that email marketing optimization can actually have a profoundly positive impact on any company’s bottom line. The real trick is to become an expert in reporting and analysis, which is all a matter of gathering the right metrics and acting on insights in a swift fashion.
It’s all about knowing what to measure.
To that end, the source offered its opinion related to the types of metrics that offer the most value in practice, and stated that open, click-through, bounce and unsubscribe rates are the most necessary, and perhaps the only ones of note.
Keeping up with email marketing trends
Metrics analysis is certainly critical, but getting the initial email marketing campaigns right is just as important. First impressions are everything in business-to-consumer as well as business-to-business interactions, and having the initial email ads in a strong position should be a priority.
Following the best practices of email marketing from the start, including the focus upon brevity, engaging information, alluring subject lines, strong calls to action and finding the right recipients, can help companies to start strong in this regard.
Additionally, many small businesses will not have an immense level of experience in these matters, nor have the resources to staff a marketing department with professionals who have been around the circuit for a while. In these situations, it will almost always be more advantageous to use the services of a professional email marketing solution provider to ensure that the wheels do not fall off the strategy in the beginning or throughout its life cycle.