Maximizing ROI: Unleashing the Potential of Email Marketing
Email marketing, while an essential part of communications and marketing strategy is often underestimated and overlooked. This essential process directly impacts a business’s bottom line in a number of ways; most companies following a reactive approach or an ad hoc style of management barely scratch the surface. There is untapped potential in extending lead engagement and engagement rates for every inbound or outbound marketing channel through the use of effective email communications.
Serve customers, Minimize noise
Serving the market and communicating effectively requires an initially over-conscious approach. Automated campaigns focus on how many customers are ready to buy rather than the number of dropped leads. With an inclusive approach to marketing, facilitating synergy can typically impact the rest of marketing spend positively. On the other hand, without active monitoring of direct communications your ability to generate leads is hindered. Many organizations wish to get the maximum benefit from their customer lists but do not have a clear understanding of what influences performance.
Relevant Email Statistics and FAQ
How Many Emails Does It Take to Close a Sale:
On average, it takes about 5 to 7 touches with a prospect to close a sale through email marketing. (Source: Salesforce)
Average Churn Rate:
The average email list churn rate is approximately 20-30% annually, meaning that businesses can lose a significant portion of their email subscribers each year. (Source: HubSpot)
The Hardest Industries to Manage Email Lists For:
Industries with the highest email unsubscribe rates include Finance (0.47%), Health and Beauty (0.49%), and E-commerce (0.52%), making them particularly challenging for list management. (Source: Mailchimp)
Segmentation Matters:
Segmented email campaigns result in a 14.31% higher open rate compared to non-segmented campaigns. (Source: Mailchimp)
Focused Asks and CTAs Work Best:
Emails with a single call to action (CTA) increased clicks by 371% and sales by 1617%. (Source: WordStream)
Personalized Emails Work:
Personalization increases email open rates by an average of over 20%. (Source: Campaign Monitor)
Contact Lists Don’t Improve By Standing Still
Any marketing activity that prioritizes action for its own sake often leads to ruin, understanding what kinds of communications or reasons customers connect with you is relevant for nurturing leads. Email is one of the most important aspects of marketing and having a list of warm leads is essential for sales but you have to prioritize auditing the quality of your list rather than the size itself.
Equal effort placed on regrowing your list as sending emails that close is paramount. Going beyond discounts and really understanding your advice, authority, and experience to promote incentives, superior value, or convenience is everything a successful email process typically starts with.
There is no simple way to avoid many of these complications and you can always improve aspects of your campaign but losing unqualified leads or email contacts should be seen as a natural part of the process. You weren’t going to sell them anyway and if they subscribed they did for a reason at the time. Get comfortable with repelling those who aren’t going to purchase, buy or die.
Email marketing can impact nearly every sales and marketing channel in a positive way when it’s consistently done right.
The truth about email marketing’s critical function for nurturing leads and automating sales inquiries is often dismissed to prioritize more simple ROI proven methods such as one off direct email blasts. Any efforts that aren’t more or less coordinated with other efforts are typically only good for a few tries. When you try to entice all customers at once with minimum finesse or effort to lead a conversation or connect it can erode away an organization’s ability to close deals.
Sometimes no email marketing plan is better than a rushed one or a disheveled attempt. Without the foresight to understand the need for always reforming your email contact list, the timing and care needed to impact potential buyers in compelling ways through email. Without critically thinking of how to keep interest through consistently communication with colder or warmer leads on their own terms you will eventually fall short.
The Needed Consistency, Grit, Resources, and Organization Is Rare
The resources and expertise available to teams usually equates to a software tool and a marketing manager in charge of emails when something is being prioritized. Beyond this quick tool to prime customers with announcements, the effort it takes to truly align marketing and sales through email channels alone takes real gumption, trust, and experience with the product you can not rush.
Quick Start Communications Audits For Improving Sales This Quarter
Segment your communications and audit your current emails
- 1. Are you sending enough emails per week and getting enough email list signups to meet sales goals? What automated communications are already happening or working?
- 2. Evaluate the incentives that can be formatted into content, when and how can you share insights that help you build your credibility with potential, current, and future customers in each step of your service process?
Regular Sales and Marketing Touch Bases Coordination for Reports on New and Lost Lead Details
- Consider Interviewing sales, customer service, or other related staff members about their discussions with current, future, previous, and also unhappy customers.
- Ask what information is being repeated often during the sales process, utilize the A players in your organization to map out scenarios and objections if needed.
- The best email marketing campaigns are focused on leading customers, you don’t have to read their minds or magically guess when they want to buy if you actually know the right information and how to qualify based on their interactions.
Seasonal Strategies, Calendar Planning, Moving Past Holliday Sale Announcements
- Focus on the differences between a hot, warm, cold, and disqualified leads for each season if needed and how you can speed up the buying process by communicating real time updates.
- Review and list current email timelines or announcements once a year you have in place that will impact visibility or performance of new campaigns you want to test.
- Is there a seasonal announcement you need customers ready for such as the rainy season or good weather that may impact availability?
Content and Email Traffic KPI Audit, Landing Page Evaluations
- 1. What are the separate KPIs and what you would like to see improve?
- 2. What information is missing from your client experience and how could email help you nurture or convince customers you understand their needs?
- 3. Based on your expertise, when is certain information critical to bottlenecks in sales? List hyper relevant criteria that needs to be addressed before buying decisions that replace lesser performing or irrelevant content related landing pages or email marketing content?
- Common Sense Questions To Follow Up On From This Article
- Is there an educational opportunity your sales team has found lately?
- Is there a particular hard topic you can add to your qualification process or even build a campaign around to help potential buyers identify your expertise?
- Is there any kind of information about your product that you have documented that you can give a better introduction about or start creating content for based on emails you receive or questions from customers?
- How can you go beyond discounts and share real incentives with first time visitors to your website about joining your email list or exclusive information?
- Do you have an email list signup form on every landing page that is applicable for new traffic to generate maximum leads?
- Are my email lists currently segmented and setup in GA4?
Prioritizing Email Marketing Means Prioritizing Sales and Improving The End Results of All Marketing Efforts
Every business lives and dies by their ability to sell and communicate with customers in a way that solidifies their experience. Great marketing is about making customers buy, and before that you have to make them imagine how great they will be once they choose you. The simple questions and knowing what is relevant leading up to and after the time of purchase can go a long way, demonstrating you know your customers needs and helping them solve every step of the way is everything in this world.
Connecting the Dots and Moving through Challenges
Without a big picture understanding of how email builds interest and educates customers, the critical thinking or hard work of selling is eventually reduced and tested down to a chore. The low hanging fruit of communicating with your email list does have some dangers but they are essential for eliminating time spent with unworthy leads. Email communications and how it can be leveraged to increase their ROI lies within integration.
With the right method and understanding any marketing effort can be managed in-house but working with a partner to handle the elusive but cost-effective ROI of email marketing has it’s benefits. Meet with the team at Tekenterprise for advice on industry-specific approaches, the underutilization of tools and automation, and the transformative impact of integrating email marketing into your sales and client acquisition process.
If you have questions or suspect an audit of your email marketing channel performance is due feel free to contact and book a short call with us.