Email Marketing ROI Outpaces All Other Digital Channels. Learn How to Make it Even More Effective
Did you know that email still reigns supreme as one of the most profitable channels for any marketer? For every dollar spent on an email campaign, the average return on investment is $44.25. Conversions from email campaigns far exceed the ROI marketers will achieve from social media, retargeting and other modern digital marketing efforts. Yet, there are multiple opportunities to make email marketing even more successful.
Most marketers have not leveraged email marketing to its full potential, but with advancement in email technologies implementing modern innovations are no longer out of reach! Today, any company – regardless of size – can supercharge their email marketing ROI.
Somewhat similar to the often used real estate phrase – “the three things that matter: location, location, location”, the three secrets to unlocking value for effective email marketing are “personalization, personalization, personalization.” If creating more effective email marketing is your goal you must prioritize personalizing the when, where and what of your email messages.
Personalize the content based on when email is both consumed and needed. By understanding when individual consumers open and respond to email, you can use new technologies that automatically personalize send times to ensure that your messages are received at the optimal time for response. Equally important is to consider which actions trigger sends (like with abandoned carts) and which actions you’d like to encourage or discourage. For example, if you’re using behavioral predictions and can predict if an individual customer will purchase in the next 24 hours, ensure that you’re sending email that will drive that purchase behavioral rather than just to your standard email newsletter. If a user is predicted to opt-out, don’t engage so that you can prevent churn.
Responsive design is table stakes for customer centric marketers. Go beyond presentation layer adaptation and increase effectiveness of email marketing by personalizing based on where customers consume content – by device, channel and geo! For example, if lifetime value is highest when customer download and engage on your mobile app, use email to push them to download; however, personalize the communication based on the device they use and send a specific call to action for iOS or Android, not both.
Recommendations are just a single aspect of personalization. Extend the effectiveness of email marketing by personalizing total content, message, discounts and calls to action. For consumers who are primed to purchase, ensure that product messaging is delivered; however, for those who are not expected to convert try a content focused treatment. Some consumers respond better to free shipping vs. percentage discounts, so make sure you’re personalizing those components at the individual level as well!
Are you ready for the dawn of more effective email marketing? Download Forrester Research’s guide to email innovation to get started now!