Think about your favorite marketers. How do you keep up with what they are doing? Do you go to their website everyday to see what’s up?
You might be like me – and keep up with them as they send you emails.
That’s why email marketing is the most cost effective marketing available. You send email to “your people.” And your people are more likely to read the emails and to trust you enough to click through – and purchase.
Today we are going to look at ROI. Return on Investment. How much are you making for every dollar you spend on email marketing?
According to Manny Yu, Product Consultant at Maropost, you can see an average return of around $42 for every $1 you put into your email marketing campaign. Email marketing is powerful because it is more direct, personal, and cost-effective than other marketing avenues.
Your return on investment is a simple math equation that requires knowing your current revenue gained and the costs of receiving those gains. To determine your current ROI, take your revenues gained and subtract your costs. Then take that value and divide it by your costs again to determine your return on investment.
The equation looks like this: (Revenue – Costs) ÷ Costs = ROI
Understanding this basic equation allows you to determine better the areas you need to improve or adjust to see a more positive return. To see a proper return on investment, your costs should be low while your revenues should be high.
Here are some tips and tricks to improve your email marketing ROI:
Mobilize Your Content
It is more likely that your subscribers are reading from their smartphone than a personal computer or laptop in this day and age. Meaning you should optimize your opt-ins, lead magnets, email calls-to-action, landing pages, and website for mobile use.
If the call-to-action is too hard to understand on a small device or they simply can’t read the email, you won’t get the results you desire – no matter how hard you work.
Add Video and Graphics
Your brain is wired to receive and digest visual content. It can process and understand it way faster than written words. (You remember: a picture is worth 1000 words).
Therefore, make graphics and videos useful tools to communicate, educate and engage with your subscribers properly.
Don’t think every video has to be professionally done. Your subscribers are hungry to see real people. Like you!!
So be bold about showing them who you are – and interacting with them. They’ll love you!
Develop Valuable and Engaging Content
Develop email sequences that involve a variety of different types of content. Meaning you shouldn’t just spam your subscribers’ inboxes with promotional emails. Include educational material and even encourage them to reply to get them to participate throughout the whole process.
Evaluate your Spending
Finally, evaluate the spending or costs required to complete the email campaign. You are more likely to have higher costs if you don’t produce the content yourself or use many tools and software. These are great options, because they provide great ideas and save you time, but keep tabs on the ones which are bringing good results.
Overall, improving your return requires keeping your spending low and maximizing your revenue.
Send valuable, engaging, and quality content. The more value you strive to bring to your subscriber, the more likely they will return the favor by increasing your return on investment.
The bottom line: bring quality material to your subscribers, and they will invest in you. They will provide that great return on investment.
Remember: keep moving forward. Keep learning what to do, and then doing it. The day will come when your efforts will be rewarded with a significant ROI.