The rise of social media may have pushed email marketing to fall at a secondary position for a question of time. Still, its integrity as a business strategy remains unparalleled beyond any reasonable doubt. Don’t believe us. Let us show you some statistics that will give you wings faster than the Red Bull:
| EMAIL MARKETING STATISTICS | |
|---|---|
| B2B Marketing Statistics | B2C Marketing Statistics |
| 86% Business professionals use Email for communication | 320% more revenue is attributed to Email proportion |
| 47% higher CTR for Email | 138% more consumers purchase via email |
| 59% B2B email marketers accept email as most effective communication channel | 80% retail professionals trust email for customer retention |
We hope the above statistics clear your doubt that email marketing is still not dead.
Email Marketing may be challenging, but it still is the holy grail to reach and engage with your customers. It produces higher results. As per Campaign Monitor- Best Tips to Improve Your Email ROI can be as high as 4400%.
Wat is Best Tips to Improve Your Email ROI?
Return on investment is measured by dividing the benefit/profit on investment by the cost of investment. Email Marketing ROI, then, is a metric tool to investigate the performance, profitability, and efficiency of an investment. Every business expects their email marketing campaigns to bring back healthy profits on their investments.
Emailing is a versatile marketing strategy that must reside on clear goals. Once the business understands the destination, it becomes easier to identify the critical metrics you need to improve your ROI. Want to boost your ROI. Here is your ultimate guide to know How To Boost ROI?
Best ways to improve your Email Marketing ROI:
Email marketing can prove to be an incredible channel to maximize your business’s existing client base. Most modern marketers fail in enjoying improved ROI when they do not understand the success of a particular segment and lose sight of the actual critical metrics of email marketing. Here are some of the most common Ways Marketers Are Wasting Marketing Dollars. Of many barometers that investors benchmark to objectively assess the profitability of your investments- “A good return on investment is generally considered to be about 7% per year”. (Sofi.com)
Let us look at the essential Key Metrics Of Email Marketing to improve your ROI:
- Delivery Rate- Deliverability is the method to evaluate the success at which an email ends up in the subscriber’s inbox. A concrete deliverability rate is usually around 97-98% (Slideshare.net). To avail, the most of deliverability rate- monitor your domain, acquire genuine emailing lists from credible service providers.
- Open Rate- Open rate measures how many individuals on an email list open the email. A reasonable open rate is between 7-30% (slideshare.net)
- Bounce Rate- Bounce rate in email marketing refers to the percentage of email addresses in your emailing lists that didn’t receive the intended message. To avoid such errors, ensure the domain provided is correct and update your mailing lists by cross-checking.
- Subscriptions and Unsubscription- Not understanding the urgency of the email, scheduling, relevance of content can annoy the potential customers and drive them to fly away from your number of subscribers’ data. If you observe less than a 1% unsubscribe rate, then you’re within the normal range (slideshare.net)
- Conversion Rate- Conversion means several individuals from the driven traffic purchasing your services and turning into paying customers. It is the ultimate goal of acquiring emailing lists and determining actual ROI. Learn Top Ways To Grow An Email.
- Segment Performance: Segment performance evaluates a group’s response to your business’s services to deliver targeted content. Measure and compare the attributes like- industry, age, gender, requirement, and geography.
Advantages of calculating overall ROI
Having a strategy to run business operations benefits financial professionals, investors to check the prospects of investments and save time and money. Additionally, the investors can determine which assets require more attention than the existing ones. Moreover, other advantages of calculating overall ROI involve:
- Measure profitability
- Achieve goals
- Measure comparative analytics
- Analyze Investment division
- Match Accounts
A survey by Econsultancy confirms that 68% of companies rate ’email marketing’ as ‘good’ or ‘excellent in terms of ROI.
The Takeaway
By making an elegantly composed email that closes with a reasonable source of inspiration, email advertisers can urge pursuers to make that next stride in their purchaser’s excursion – drawing them at any point nearer to traffic to lead conversion.
If you need Amerilist to set up your emailing lists to enjoy maximum Return on Investments, give us a shout out!
