Time and again, email marketing proved itself as an ultimate and reliable driver of revenues for brands as according to data every dollar spent on email marketing you get $38 in return, which implies an ROI (Return on Investment) of 3,800 percent.
Whereby, in contrast, businesses that use digital marketing channels such as paid ads, gets on an average $2 for every dollar spent on such activities.
Moreover, the order value on an average of emails is at least 3X higher than the order values generated by social media campaigns using business growth technology as a tool for boosting revenue.
Now, this data makes one thing amply clear that email marketing stands way above most other digital marketing channels when it comes to generating revenue and so it still remains fortified in a league of its own.
Therefore, if you want to increase your email marketing’s ROI and achieve that 3,800% additional revenue, you need to use a tried and proven email marketing plan, which we as one of the best and award-winning vendors of Salesforce Alternative CRM software built for startups and small businesses would like to share with you, so that you can map out your email marketing strategy for stellar business growth.
1. Find The Right Platform For Your Brand
When your goal is to boost the email marketing’s ROI, then you must choose the best possible email marketing service or a business growth technology solution like an easy to use CRM that has Sales Force Automation integrated into the software.
There are CRM platforms like Salesforce and countless Salesforce Alternative CRM solutions with each one offering different target users, price points and features for increasing revenue.
Therefore, all that being said, here are some of the most essential features you need to look for in an email platform that can ensure rapid sales and revenue growth, which includes:
– Mobile optimization
Hence to maximize your email marketing ROI, buy CRM or any other email marketing platform that not only fits your budget but all delivers on all the necessary features as mentioned above for rapid business growth.
2. Grow An Engaged And Healthy List
Building up a healthy list of subscribers who are engaged with your business takes time and effort, but it also pays long-term dividends for your brand.
This is because subscribers who are more engaged with your company are also more likely to make purchases from your brand.
Here are certain tips as to how you can build an engaging email list.
– Create simple sign up forms and strategically place them in your homepage, blog page, contact us page on your website and make the signing up process as easy as possible.
– Collect the right data from your leads and visitors. You may add fields in your sign up forms in addition to a person’s name and email address, but make sure not to add too many fields as this can decrease the signup ratio considerably.
– To avoid adding invalid contacts to your list, always use the opt-in method and email people asking them to confirm their subscriptions.
– To find out which areas in your engagement need to be improved, keep a watch on your email campaign’s open rate, and conversion rates.
– Delete invalid emails and keep your email campaign’s list clean and if you find too many invalid emails in your CRM database, send them re-engagement emails before permanently removing them from your email list.
3. Segment Your Email List
If you are using an easy to use CRM, you can create various segments using the subscriber’s data in your CRM database.
The information of the subscribers that you can segment can include:
– Content preference
– Transaction history
Do not be afraid to get creative when segmenting your list to find out which segments are most effective in driving revenue for your business.
4. Leverage The Power Of Personalization
Sending generic emails are no longer considered as the best practice nowadays. This is because in modern times it’s all about sending personalized messages to boost engagement for each subscriber.
Researchers suggest that personalizing email campaigns can not only help businesses to find 6X higher transaction rates, but it can also boost conversion rate and click-through rates by 10 and 14 percent respectively.
Here is a list of elements in your email that can be personalized which includes:
– From name
– Subject line
– The first name in the copy of your email
– The images according to the gender of your subscribers
5. Track Your Performance
You cannot tell if your email campaign is finding the desired level of ROI without tracking the performance of your email marketing efforts, which this is exactly why businesses buy CRM which is the latest business growth technology that helps in keep an eye on the metrics and KPIs (Key Performance Indicators) of a successful email campaign.
Here is a list of mostly used KPIs that you must closely monitor to evaluate the performance of your email campaigns that include:
– Email open rate
– Click-through rate
– Conversion rate
– Overall ROI
– Email sharing rate
– Revenue per email
6. A/B Test Your Emails
According to research, A/B testing can boost your email conversion rate by 25 percent. Hence if your objective is to increase your email marketing ROI, it is extremely critical that you must A/B test the performance of your emails.
Here is a list of A/B testing activities that you can do to increase the performance of your emails.
– Test lengthy vs. short subject lines to find which is more responsive
– Test two promotional offers (discounted pricing vs. free shipping) and find which generates more response
– Use ‘Emoji(s)’ on your subject line to increase open rate
– Test long-form text-based contents vs. short contents broken up with images to find which is more responsive
– Test promotional contents vs. newsletter-type contents to find which generates more response
– In your CTA (Click to Action) button use generic language like “Download Here” vs. incentivizing verbiage like “Get This Helpful Ebook Now”
– Use standard CTA button vs. hypertext link to see which one finds more response
– Experiment with the time of the day and the days you send your emails to subscribers to find the right time that increases the email open and engagement rate
Although there is no question that email marketing is the most powerful tools that drive in revenue, however once you buy CRM do not send promotional messages arbitrarily but instead have a business growth plan before you hope that your subscribers make a purchase of our offerings.