5 Ways to Maximize ROI from Email Marketing

If you're planning to start or expand your business, you must understand that every dollar spent on marketing is valuable. You've undoubtedly heard a bit about how businesses use email marketing to increase sales, find new clients, and enhance relationships with current clients, right?

Is it actually worth it, though?

Yes. Yes x100. Email marketing MAKES MONEY. For every $1 you spend on email marketing, you can expect an average return of $36. That’s a higher return than you can expect from any other form of marketing — digital or otherwise.  If you want to expand your concepts and build a long-lasting business, email marketing is well worth the price. Still, having doubts? Read on!

We’ve already covered that email is the among the most cost-efficient and powerful marketing techniques, but we notice it can sometimes be a challenge to optimize your email campaigns if your current ROI isn’t high. We’re going to go over a quick explanation of what email marketing ROI is and 5 ways you can maximize it in this post. Enjoy! 😘

What exactly is Email Marketing ROI?

It’s easy to get confused with this ROI stuff - here’s a quick rundown.

A typical profitability ratio is ROI (Return on Investment). Email marketing ROI is the term used to describe the metric that defines the success of a given email marketing campaign.

Here's a simple method for calculating ROI: gained – spent = ROI (you can express it as a percentage).

It can be pretty challenging to track the return on investment for your email marketing. That is because email is a flexible marketing tactic that has the potential to accomplish a wide variety of different objectives, including creating brand awareness, nurturing leads, growing sales and profits, and increasing website traffic. Please remember that a successful email campaign doesn’t always have to make $$$. You need to have an understanding of what your unique goal is before measuring your ROI, because you’ll know the specific KPIs to monitor.

1. Keep it personal

Save your industry jargon for your team, and keep things relatable and personal with your emails. Approach your copy with a foundation of storytelling when applicable and keep your conversations casual - as if you’re chatting with a friend! Another way to keep the email personal is by simply including the names of your customers in your subject and messaging. You can even include things like birthday’s, items in their cart, gender, and location when customizing an email to be more personal.

Your customers want to feel seen and related to.

2. TIMING IS EVERYTHING

You're seriously weakening your efforts' value if you believe email newsletter timing is ineffective in email marketing. Some researchers found that users are more inclined to check emails early Tuesday mornings, often around 9 AM.

However, don't assume anything. EVER.

Your audience can act differently and anticipate that you will send emails at a different time. For example, younger users will likely read their emails later in the day.

Before deciding the best time to send your email newsletters, consider their age group, occupations, hobbies, and other emails they’re regularly consuming first.

Your email platform likely has data that will give you their “suggested times” for optimal open rate, so we recommend starting their and then A/B testing your future campaigns to determine YOUR optimal time. We LOVE (love, love, love) Flodesk. We’ve been using it since Day 1 at Hello Media, and we also use this platform for several of our clients. We currently work with 6 different email marketing platforms, yet Flodesk continues to be our favorite. We do have an affiliate link that will get you 50% off your first entire year with Flodesk (which is bananas). Click Here to snag that deal!

3. USE SEGMENTS

This is probably the most underutilized tactic we see in email marketing. The process of email segmentation will force you to customize your strategy and target each user group differently, which increases its power significantly. You may, for instance, build specific audiences based on geographic regions or individual interests.

Another option is to take action based on where users are in the sales cycle. Most businesses do that because some clients want you to provide relevant solutions and recognize the corresponding items or services. In contrast, others want you to provide educational content while they're just starting their purchasing experience.

4. USE HIGH-QUALITY AND ATTRACTIVE DESIGN

We know, we know. “Highly curated content is OUT for 2023.” WRONG. Highly curated content is out on TikTok and in some very rare instances across your digital presence, but the aesthetic on your email campaigns can be a ‘make or break it’ factor.

Keep in mind, not every business and customer wants to see heavy graphics or tons of imagery - it’s up to YOU to decide what your customer appreciates. You must make your messages accessible to people on all devices if you wish to increase your return on investment. If half of those who receive your email skip it because it lacks images, you may lose significant visitors and engagement.

When choosing the kinds of videos and graphics you want, it’s best to think about your defined goals and target groups. For example, if you're launching new products, a video can be the perfect way to highlight everything it has to offer.

BEST TIP: We beg you to pay attention to the way your email looks via mobile. 99% of you are creating emails on your desktop, right? Don’t ignore how things are looking to someone viewing on their phone! We can bet that more than 50% of your email subscribers will open your next email on their phone - is yours optimized for mobile viewing?

5. SET UP AUTOMATED FLOWS

Flows that you “set and forget” are triggered by a recipient’s action and can be set up to go hand in hand with every step of the customer journey. Flows can make for a personalized approach to email marketing which customers greatly appreciate. The advantage for businesses is that flows are less of a lift over time — once they are set, they run automatically, unlike campaigns that are iterative in nature.

Flows can be initiated through a wide range of triggers, including abandon browse, abandon cart, not having bought anything in some number of days, being a new client, and viewing a certain product or category.

BOTTOM LINE

Creating and executing an efficient email marketing campaign is not easy. Just like anything we share, the most important thing you can do is test things out for yourself and optimize with the data you find. Just get started and throw away all the tips and tricks if you’re overwhelmed. Create a convincing opt-in, keep updating your customers with exciting content, and work with a reputable provider like Hello Media if you can't carry out all these steps alone! 😏