Email marketing is well known in the marketing community for having a high return on investment (ROI), thanks in part to how cheap and easy the strategy is to start. But what if you want to push that ROI further and make the strategy even more effective?
How can you increase your ROI as much as possible?
What Is Your Email Marketing ROI?
Your email marketing ROI measures the value your email marketing strategy brings to your organization compared to the costs involved. For example, if you spend £5,000 on an email campaign and it generates £10,000, your ROI would be 200 percent—you’ve made back double what you invested.
This metric is crucial because it reflects the effectiveness of your strategy. While driving £100,000 in new sales might seem impressive, if your strategy costs £105,000 to maintain, you’re actually losing money. On the other hand, if you spend just £100 and generate £1,000 in sales, your ROI is substantial.
Improving your email marketing ROI is essential for increasing the long-term value of your email marketing plan. Once your ROI improves, you can scale up efforts by reaching more people and emailing more frequently, ensuring you recoup whatever costs are required to sustain growth.
Ideas for Improving Your Email Marketing ROI
These are some of the best ways that you can improve your email marketing ROI.
- Rely on inexpensive tools. First, try to take advantage of free and inexpensive tools that are available to you. There are many platforms and systems that can help you manage email campaigns and improve those campaigns, and many of those tools are useful, but some of them are simply too expensive to be friendly to your budget. MailChimp is a well-known example of a budget-friendly tool, since you can get started for free and benefit from relatively inexpensive plans.
- Curate high-value subscribers. Curate high-value subscribers. Many email marketers think the key to success is getting more subscribers, but in reality, the secret lies in attracting better subscribers. According to email marketing best practices, it’s far more effective to have a list of 100 dedicated brand loyalists than 10,000 indifferent subscribers.
To achieve this, focus on building a high-quality list. Attract people naturally by leveraging content marketing and an active social media presence. Avoid buying subscribers or using cheap tactics, as these approaches seldom align with email marketing best practices and rarely result in long-term success.
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Use Workflows. Email workflow automation is excellent for boosting your marketing ROI, as it reduces manual effort, enhances scalability, and ensures consistent execution of your strategy. If you're planning a drip email campaign, automation is essential. By leveraging email workflow automation tools, you can efficiently manage ongoing campaigns with minimal hands-on management. While these tools come with a cost, when used effectively, they will more than justify the investment by improving performance and driving greater returns.
- Embed videos into the body of your emails. Embed videos into your emails. If you want your emails to generate more value, you need to work harder to truly engage your subscribers. One way to do this is to embed videos directly into the body of your emails so they play automatically when subscribers open the message. Thanks to tools like Viewed, this is relatively easy; all you have to do is upload your video, copy and paste a code, and send the email. Just make sure the content of your video is perfectly suited to the subscribers who will be watching it.
- Personalize your messages. People don't respond well to generic, universal messages. They're much more likely to engage with messages that are personalized to them; these messages stand out as original and more relevant. Get to know your subscribers as much as possible and personalize elements of your subject lines and body copy to make them better suited for each individual.
- Perfect the art of the subject line. The overall average open rate is less than 17 percent. But you can push that much, much higher if you learn to optimize your subject lines effectively. Email subject lines are the biggest factor standing between you and email marketing success, since a bad subject line can devastate your open rate. Focus on writing subject lines that are relevant for your niche audience, original, concise, and valuable in some way.
- Improve your timing. Another way to optimize your email marketing ROI is to improve your message timing. Some days of the week are going to be more favorable for your marketing emails. The same is true for times of day. Every industry and every business is a bit different here, so we'll need to experiment to figure out what works best for you.
- Focus on your most profitable products and services. If you want more bottom-line value, consider focusing on your most profitable products and services. Assuming your calls to action (CTAs) are working, you'll end up generating more revenue without
- Analyze your results (and act on them). Finally, take the time to analyze your results and act on them. Which tactics seem to be most effective for your audience and which ones are falling flat? How can you use this information to make better emails in the future? Experiment on a regular basis to push the limits of your email marketing potential.
Do you want to get more value out of every marketing email you send? Are you looking for a way to secure more engagement and conversions from your subscribers? Viewed can help by making it easy for you to embed automatically playing videos in the body of your emails. Sign up to get started for free!