Maximize the ROI Potential of your Email Marketing
Despite shouts and murmurs predicting the death of email over the last decade, email marketing remains one of any brand’s most profitable channels; if not the most profitable – for every dollar spent in email the average return on investment is $44.25. Email still outpaces the ROI marketers achieve from social media, retargeting and other modern marketing channels. However, there is tremendous opportunity for marketers to innovate their approach to email to further increase email marketing ROI.
There are four focus areas that the most effective marketers are prioritizing for their email marketing programs.
By 2018, companies that have fully committed to personalization will outsell companies that haven’t by 20%. This stat from Gartner speaks to personalization that goes far beyond the baseline tactics of name insertion and geo targeting. The next five years will be all about marketers tailoring each individual email message, leveraging omnichannel behaviors, predictions, interests and context.
This approach uses predictive analysis of specific user groups, or “microsegments,” to target marketing messages more precisely, even down to the individual (or “segment of one”). Modern email marketing platforms now give marketers the ability to predict the next behaviors of individual customers and automate the optimization of messaging, content, incentives and calls to action.
Responsive design, which ensures your site and email render well regardless of the screen size or device, is just the starting point for being mobile first in your email marketing. It’s now critical to tailor your email, content, offers and delivery strategy to mobile consumption trends. For example, because conversion rates are higher on desktops, you might deploy promotional email only when the user is likely to be on desktop vs. mobile to decrease discount fatigue and maximize conversion potential.
When you collect customers’ email addresses, you not only open the door for ongoing nurturing, but you can also begin to build a complete customer profile that includes data from all channels – not just email. By transitioning to this methodology you can expand personalization, targeting and mobile experiences to play a much more considerable role in your entire customer experience.
Find out more about these tactics in Forrester’s report on email innovation.