Tricky Ways to Maximize Your Email Marketing ROI
Despite all of the advancements in technology and new communication tools companies have at their disposal, email remains one of the primary strategic channels for customer acquisition. Whether it be through cold outreach or nursing an email list of thousands of subscribers, email can provide significant benefits to organizations in almost any industry due to its low cost and ability to raise awareness of new products and services.
Moreover, email is one of the few marketing mediums businesses have complete control over. In contrast to social media, which is typically centralized, businesses are free to manage and communicate with email subscribers as they see fit. This, along with a slew of other advantages, has earned email the distinction of being one of the marketing tools with the highest ROI. In fact, according to Campaign Monitor, email ROI is now higher than it’s ever been, with a return on investment of $42 for every dollar spent. Yes, you read that right. That’s a 42,000% ROI. However, not all companies will be able to reach these lofty heights.
To tell the truth, email marketing is a nuanced art. While most customers are happy to engage with brands via email, they are extremely picky about which emails they interact with. As a result, people are quick to flag irrelevant and unsolicited emails as spam.
Thus, if you fail to take the time to establish credibility, build trust, and improve other aspects of your email marketing strategy, ROI will quickly begin to dwindle, which means you’re leaving revenue on the table. On that note, here are four quick tips to help you maximize your email marketing efforts across your organization.
Segment Your Email List
Email segmentation is the process of dividing your email list into smaller sub-groups. This allows you to cover more ground with your email marketing efforts by targeting specific sections of your subscriber list with specialized content. The end goal is to deliver more relevant information to each subscriber rather than bombarding your entire email list with content they are unlikely to be interested in. Remarkably, marketers who deployed segmented campaigns have seen a 760 percent increase in revenue, namely due to dramatically improved open rates and a greater click-through percentage, as well as a lower bounce and unsubscribe rate.
Unify Your Company Email Signatures
A large part of your success with email marketing comes down to how professional you appear when engaging with customers, especially if you are using cold outreach as an acquisition method. After all, people are very wary of scams and are unlikely to open or engage with emails that appear suspicious or poorly structured. Therefore, you must make the most of the little time you have when communicating via email to build trust and credibility. One of the best ways to do that is with a unified company email signature.
Rather than leaving all of your employees to curate their own email signatures, you can use WiseStamp’s Email Signature Generator to create professional consistency across all your teams. With a quick and simple integration with G Suite and Office 365, you will be able to manage all employee signatures remotely, which means you are free to chop and change their signature as you see fit. For example, suppose you feel as though you are struggling to build credibility. In that case, you can add social trust badges, display awards, or highlight security and compliance certifications within each employee’s signature. On the other hand, if you are looking to maximize sales, you can use your signature to upsell and cross-sell existing customers by offering a personalized CTA within each email correspondence.
Get Your Timing Right
As per CoSchedule’s summary of 14 studies, the best day to send an email is on Tuesday. If you are the type to send out two emails per week, then Thursday is apparently the best option for your second day. As for the timing, week-day mornings tend to give the best results. Opt for somewhere between 6 am, and 10 am, since 50% of people begin their day by emailing in bed, which gives you a chance to connect with customers before they get tied up with other responsibilities. Of course, the weekends are pretty much a no-go, as these days unsurprisingly offer the lowest open and click-through rates (although this all depends on the industry you operate in).
Optimize for Mobile
81% of all emails are opened on mobile devices these days, and this number will likely continue to grow as time goes on. With this in mind, you seriously need to start optimizing all of your emails for mobile devices. If customers open mail on their smartphones but are greeted with a bunch of faults and formatting issues, you will have a hard time getting them to buy your product and services.
Here are some quick tips to help keep your emails looking great on both mobile and desktop:
● Keep the email subject line to 30 characters or less.
● Make use of pre-header text (the first line of copy in your email. This shows up beneath the subject line of unopened emails).
● Keep your copy short and concise.
● Go easy on the images and videos.
● Keep CTAs near the top of the email.
● Test your emails on multiple devices for errors.
There are no two ways about it; email marketing is a powerful tool when used to its full potential. Due to its low cost and relatively few overheads, companies can achieve staggeringly high returns on their investment through email, but it requires hard work to get there. By implementing the four tips in this article, you should be able to increase your open and click-through rates by establishing trust and interacting with your subscribers more efficiently and effectively. There is only one way for your ROI to go from there, and that is up!