This article is provided in partnership with Constant Contact.
Of all the marketing channels available today, email delivers the highest Return On Investment (ROI). It offers a quick and easy way for business owners to communicate directly with customers, present them with tailored messages and offers, and get almost instant feedback on which content is most effective. Constant Contact’s Dave Charest offers additional insight into why the ROI on email marketing is so strong.
(Photo courtesy of Constant Contact)
The Original Digital Marketing Channel Is Still The Best
Email is able to deliver higher ROI, and the most measurable returns, because it reaches customers where they spend a lot of time each day – their inbox. Also, it’s permission based, meaning you must get approval from customers before adding them to their contact list. “From this perspective, you already have an interested audience before you even hit the send button,” says Charest. “Also, it’s a one-to-one medium, allowing you to personalize your messages, which results in higher engagement and ROI.
How To Earn $38 For Every $1 Spent On Marketing
While the ROI on email marketing varies by industry, it’s been shown to deliver a return of $38 for every dollar spent, on average, according to the Direct Marketing Association. “Compared to other marketing channels, email continues to be the most cost effective,” says Charest.
Moreover, experts from McKinsey and Company found that when it comes to actually inspiring customers to buy, email conversion rates are three times higher than social media. Digging deeper into those numbers, those same experts found that email is 40 times better than Facebook and Twitter at acquiring customers. But this doesn’t mean you should abandon your social media efforts. On the contrary, social media gives you a way to amplify your email messages to reach a wider audience. Much like email, social media is also rooted in an opt-in model where fans and followers deliberately sign up to tune into your messages. Together, email and social media is a powerful way to engage customers, attract new ones and deliver the strongest ROI from all of your marketing channels.
“Email marketing is most effective when it’s coupled with other digital marketing channels like social media,” Charest advises. “Social media allows you to cast a wide net, drawing customers in, while email marketing lets you engage current clients.”
Effective Insider Tips For Maximum Email Marketing ROI
Constant Contact works with hundreds of thousands of companies and has statistics on billions of customer emails. Based on this insight, Charest notes that the best email campaigns are those that are sent to subscribers, feature personalized content and offers depending on the customer’s relationship with the small business, and contain fewer than three images and approximately 20 lines of text.
“You’ll also want to avoid generic subject lines such as ‘May Newsletter’ and language like ‘free’ and ‘act now’ to avoid your message being ignored or flagged as spam,” he says. “The most compelling subject lines do one of the following: ask a provocative question, make an announcement, feature a teaser to the content, use numbers such as ‘5 ways to…’ or create a sense of urgency such as ‘only 8 tickets left.’”
To Read Your Customers’ Minds, Read Your Results
Monitor your email marketing results, such as open rates, click through rates, sharing rates, and whether your subscriber numbers are going up or down. Also, look at which content drove the most engagement and action, as well as the time of day the majority of your customers opened your email. When you keep an eye on your results, you’ll learn more about your customers so you can continuously refine and personalize your messages for even higher ROI.
This article was written by Alaina Brandenburger via Examiner.com for CBS Small Business Pulse.
For more information on email marketing, visit Constant Contact.