How to grow your Email ROI Organically?
Would you turn down an opportunity to increase the value and impact of your content marketing program with just a few tweaks to your email list? How about the chance to earn rock-start-level praise from your executive team for achieving better returns on your company’s email marketing investment? When you consider just how valuable email subscriber can be to the content marketing success, I’d be surprised if you haven’t already pulled out your credit card and started looking for the sign-up button to take to take advantage of this amazing offer right now.
My apologies for being so dramatic, this is not exactly what I want you to do. The idea is to understand how much important you email database can be and how you can make use of it.
Making the way to success:
Let’s back up a minute because email marketing is some seriously powerful stuff – I’m talking the reality of content marketing products. According to Jessica best, director of data-driven marketing at Barkley, you aren’t truly ready to unlock your email “rock star badge” until you are prepared to do two things:
- Accurately measure the returns on your marketing investment – not just opens and clicks.
- Understand how to maximize the content assets and email framework you have in place.
Fortunately, in a presentation she delivered at Content Marketing World 2016, Jessica shared some of her best hips for overcoming delivery issues, increasing mail engagement among your audience, and determining the overall impact of your efforts – all of which will enable you to demonstrate your achievements in a way that your content marketing stakeholders will understand – and thank you for.
Jessica asserts that one of the primary barriers to email success is a lack of understanding when it comes to measuring the returns on your email marketing investment. For the record, Jessica describes marketing investment as a separate calculation from RIO, as it doesn’t factor in the business’ overall cost of goods – it’s simply marketing in dollars in and marketing revenue out.
Jessica recommends calculating email marketing investment by taking the amount of revenue a campaign generated, subtracting your expenses for creating and delivering that campaign, and dividing the results by your expenses.
Jessica also suggests visiting the emailmarketingroi.com site for a simple calculation tool that comes in handy for this task.
Make most out of your valuable asset.
Grow a healthy subscriber list, and tend it regularly; when it comes to email marketing success, Jessica says everything boils down to your ability to cultivate a robust list of “hand-raising” subscribers (I.e., those who have asked for your content and, therefore, are more likely to read it regularly), as these audiences represent your strongest potential for business growth. No matter how valuable, creative, and fresh your email content might be, if you aren’t able to deliver your messages into the hand of the right person, you will never reach your full investment potential.
Of course, it is simply not enough to amass a giant list of names and email addresses; as you know by now, those lists need to be built through ethical means, so that your reputation as a credible, trustworthy marketer remains beyond re-approach. This can be achieved rather simply by following the industry’s best practices for securing your subscribers’ opt-in permission before you message them.
This keeps your email content from running afoul of expectations. But you also need to make sure your recipients continually view the content they receive from you as a desirable benefit, not a delete-able nuisance. Remember, just because subscribers gave you permission to reach out, doesn’t mean they feel obligated to engage beyond the initial connection.
Optimize your lists: We all have email newsletters we were once enthusiastic about receiving but, for some reason or another, are no longer motivated to click through, or even open. As marketers we hate to admit that our messages may not be a top priority to readers, but the bigger issue here is that sending emails to subscribers who are no longer active or even interested can skew our metrics and lower your investment potential. Think about this: According to Jessica’s data, on average, as much as 40% of your email list hasn’t opened, clicked, or purchased from you in over a year. That’s a lot of dead weight dragging down your campaign success averages.
Re-engage your fans: Jessica feels that your first course of action for addressing this issue should be to identify and re-engage with subscribers who still want to hear from you but just haven’t expressed their love for a while.
Naturally, you want to do everything you can to retain the value proposition represented by your most active subscribers. Fortunately, as Jessica discussed in her session you can boost your response rate by over one-third by re-engaging with subscribers and ask them to get back in touch with your business. For example, Hostess manages his elegantly – and in a brand-friendly way – by periodically sending inactive subscribers a little reminder that their spokesperson still loves them along with the promise of incentive if they take action to reconnect.
Trim the dead weight to conserve budget; as Jessica notes, it can be useful to periodically weed out perennially inactive subscribers (i.e., the 40% who never open your messages). When you are no longer sending the email to fatigued or out-of-market consumers, she estimates that your send or volume cost can be reduced by as much as 40%. This is a big win to show your executives – without doing anything more than scrubbing your list of consumers who were unlikely to convert as leads or customers in the first place.
By opting these ways you will be able to grow more organically without investing or even by saving a lot of data as well as investments that mass usually spends on email ROI. This will give your business a new life and you will get more potential clients and customers with easy methods.
Anything else you know that will do good for emails or anything that is related to digital marketing, please feel free to write back to us. We will make sure to put your content on our website and let you know about it so that we can share the growth.