Today, emails are one of our most widely-used means of communication. With a staggering 86% of business professionals preferring emails over any other form of communication, it is also one of the most comprehensive, low-cost and easy-to-use systems. Not stopping there, the meteoric rise of smartphone usage has made email addresses all but a necessity and if that wasn’t enough, going one step further, most people have more than one email id, to keep various personal and business accounts separate!
Keeping this in mind, the digital era has seen email marketing services become one of the most extensive and lucrative digital channels for ROI. However, employing these services without a proper strategy can prove to be costly, ineffective and profitless. Implemented tactfully, email marketing has a plethora of benefits that can directly affect your revenue stream. Listed here are 6 actionable email marketing tips for businesses to maximize their ROI –
1. Provide an Easy Subscription Option –
The first and foremost step of a successful email marketing strategy is to provide an easy and straightforward subscription option to the consumers. Asking for bare minimum details from the user makes their registration process as quick and hassle-free as possible. As such, just their name and email address should suffice. While it is imperative to ensure that the placement of your ‘subscribe’ option is such that it is easily noticeable, offering some value to the users, as an incentive for them to sign up for your newsletter, is very helpful. For example, many businesses offer discount coupons or ebooks to consumers in order to facilitate subscriptions.
2. Send Out Personalized Emails –
According to Instapage, personalized emails deliver 6x higher transactional rates. Simply greeting your customers by their name can considerably enhance their experience and increase the chances of them interacting with your brand. Additionally, you can segment your customers into different groups based on the stage of their ‘buyer’s journey’ or their last purchase and send them targeted emails accordingly. The more segmented and personalized your approach towards your email campaigns, the more you will be able to make connections and drive engagement with your existing and prospective customers.
3. Determine Your Ideal Mailing Frequency –
A common mistake that many small businesses make is sending too few or too many emails to their subscribers. Remember, every email that you send out is a customer touchpoint and you must at least send out enough emails to establish a strong and positive brand recall value in the minds of your subscribers. Conversely, be sure not to send out too many emails, making your subscribers feel like you are spamming their inbox. Ideally, sending 2 to 4 emails per month works well for most businesses since this allows them sufficient time to uphold the quality of their newsletters and focus on improving their customer experience.
4. Optimize Your Emails For Mobile Devices –
With smartphone usage increasing exponentially, it is of paramount importance that you optimize your emails for mobile devices in order to maximize their reach and effectiveness. Research indicates that mobile devices account for at least 50% of all email opens and in addition, about 52% of customers are less likely to engage with a company because of bad mobile experiences! Thus, adapting to a mobile-friendly email design will play a pivotal role in the overall success of your email campaigns.
5. Split Test Your Email Campaigns –
Split testing, also known as A/B testing, is a user experience research methodology that is used to compare two versions of a campaign to understand which one performs better. There are several elements of an email marketing strategy that can be analyzed using this method with the most basic one being the mail subject. A strong mail subject is one of the most crucial components of a successful campaign as it directly impacts your open rate, click rate and conversions. Besides this, some of the other elements that you can analyze are your email send times, headlines, overall layout and CTAs. Conducting this analysis will not only give you a deeper understanding of your customer base but also assist in crafting effective email marketing strategies in the future.
6. Measure Your Email Marketing KPIs –
Lastly, make sure you monitor and analyze the overall performance of your campaigns on a regular basis. Some of the email marketing metrics that you must measure are open rate, click-through rate, conversion rate, bounce rate, list growth rate and unsubscribe rate. Measuring your KPIs is a continuous process that will help you understand the gaps in your strategy and assist in making the necessary corrections or revisions to your future campaigns, to achieve your desired results and boost your ROI.
To learn about the 5 most effective digital marketing strategies to capitalize on during Covid-19, click here.
For further support to grow your business, our team at Parkyd Digital is available and happy to help you. With a deep understanding of the digital marketing landscape and over a decade of industry experience, we offer holistic marketing solutions that are customized according to your requirements to effectively boost your ROI and achieve your business goals. You can get in touch with us here.