There is always much discussion around which online marketing sales path is best for businesses and sales. For ROI purposes, many studies have found email isn’t just the top performer, but can also achieve higher numbers of conversions.
Research by Monetate discovered that the average ‘add to cart rate’ for email was 10.91%. In comparison, organic search had a rate of just 7.09%, and social media achieved a mere 2.28%. At the same time, email marketing had an ROI of 38-1. That means for every $1 you spend on email marketing; you will get back $38.
But why is email so effective? And if you aren’t doing so well with your email marketing – what can you do to improve your returns? Here are some answers.
1. Emails Can Be Better Targeted
One of the main reasons why email is so useful is because smart marketers restrict who they send their emails to. All that is required to do this is for your business to collect enough information about the behaviours and interests of your contacts.
For instance, if you sell three products and you track a subscriber’s activities and find out they are only interested in one of them, you should send emails relevant to that product. Ignore the other products as the lead has shown no interest in them.
2. You Have More Control Over Email
When your potential customers are searching on Google or another search engine, you can’t always guarantee what pages, products, or information they are going to see.
Many small businesses can’t afford to employ a qualified search engine marketer, and competition for search engine ranking can be so fierce, that despite your best efforts you might still not rank well. Audiences might also be directed to a different page on your website that isn’t designed to convert customers.
In email marketing, you can decide which pages you send leads to, and these can be designed for conversion from the start. This means you have a higher chance of converting your readers.
SEO is very expensive in comparison to email marketing. A good SEO campaign can cost upwards of $750 per month. Email marketing can be as little as $17 per month. Your primary challenge for email marketing is subscribing individuals to your mailing list, and there are several good tactics to support this.
3. You Set The Interaction Point
Another advantage of email marketing is that you can set the time the email will be sent to the customer. This is more important than some small businesses realise as it can take up to two weeks after the initial email for a sale to be confirmed, so the link between the timing of the email and the number of sales may not initially be apparent.
While the traditional view is that early morning on a Tuesday, Wednesday or Thursday are the best times to send emails, this is, in fact, not the case. Research by Experian in 2012, discovered otherwise.
Their studies found that 21.7% of opens were between 8 pm and midnight, and 17.6% of unique opens occurred between midnight, and 4 am. These people were also more likely to click-through. The revenue per email was also highest between 8 pm to midnight.
These results weren’t contradicted in a 2015 report, but this one demonstrated that there were more people using mobiles to open emails.
Changing your email marketing times to match these timings might result in better results for your campaigns.
Email marketing is still a powerful advertising medium. It allows you to directly connect to your audience with the relevant content that matches their current behaviours. By adjusting your tactics slightly, you should be able to take full advantage of consumer behaviour, so your campaigns are more effective and reach the better ROIs that other small businesses have achieved.
What email marketing best practice tips do you have? When do you send email marketing campaigns?
Let us know in the comments below.