Email was once revered as next-generation messaging. Today, email is still relevant, but now it exists alongside multimedia-rich texting programs and video conferencing technologies like Zoom, Skype, Facetime and others. In spite of these challenges, email marketing remains a trusted resource for e-commerce websites. As a linchpin of digital marketing, email remains relevant for SMEs across the board. Various studies confirm the importance of email marketing, compared to other investments such as banner ads, mobile marketing, Internet Display, SEO and, catalogs. As it stands, the return on investment (ROI) for email is substantially higher than all other marketing channels, including the leading marketing channels in SEO and Internet Display. This attests to the efficacy of a successful, multi-pronged, email marketing strategy.
Experts routinely advise the following elements when building an email marketing campaign:
- High-quality, enticing, personalized, and converting text and images.
- Landing pages must present value propositions to customers, with a clear eye on the sales conversion funnel.
- Create a valuable list of potential customers through data collected from signup forms blog feedback, or social media. E-mail campaigns should offer enticements (coupons, discounts, e-books, guides, catalogs) in exchange for user email addresses.
- Strong focus on the WOW factor, with compelling and concise email messaging, responsive support, and clear Calls to Action (CTA).
- Monitor the frequency of email campaigns so as not to overburden customers with ‘spammy style’ marketing content.
- Ensure that email marketing campaigns are compatible with PC, Mac, Android, and iOS devices.
- Careful analysis of email marketing analytics, A/B testing, and campaign performance.
How is email conversion measured?
Email marketing is the de facto choice for SME’s digital operations across the board. It is highly effective in terms of reaching its target market with much higher conversion rates than other mediums. As a generally accepted selection for organizations, it’s important to be able to measure the efficacy of email marketing. Various metrics are used to ascertain engagement, and conversion, such as the Open Rate. This measures the number of unique visitors who opened messages/the number of messages delivered. The analytical data vis-a-vis ‘Open Rate’ serves as an important metric, particularly when A/B testing is undertaken.
Similar to the ‘Open Rate’ is the number of total emails that have been opened. While an Open Rate can be expressed as a percentage, it says nothing about the volume, or the scale of email messages that have been sent out and opened. As a nominal number, a high number of ‘Total Email Opens’ is an important metric to add to the analysis. The bigger the number, the broader the reach. On a parallel track, it’s important to generate email marketing campaigns with high engagement rates. Engagement a.k.a. interaction is necessary for the overall success of the email marketing campaign. As the number of engaged users increases, so too do the number of conversions down the line.
Just click it!
The ‘Click’ cannot be ignored in email marketing. Click rates refer to the % of visitors who click the message, based on the total number of messages that were delivered. This is an important metric for driving audiences to click through your content. Different CTAs can be used to improve the click rate, such as a unique design, layout, style, structure, or color configuration for the buttons, or use of different hyperlinks to encourage engagement. The total number of links clicked plays a big part in determining the levels of interaction with the email marketing campaign. This important metric must be used in tandem with others to derive the best possible value. This one evaluates specific hyperlinks and the number of clicks, separating popular links from unpopular links.
The best practices for email frequency must be implemented from the get-go, on every campaign. The perfect balance needs to be struck between sending too many emails and too few emails. The right recipients should be targeted with the right messages. Detailed insights from market research tends to support the notion that email marketing campaigns strongly follow the trajectory of diminishing marginal productivity. A bigger budget will not necessarily lead to higher conversions, since customers are more likely to get turned away by aggressive marketing tactics. In-depth industry analysis is a powerful tool to assess the type of strategy that should be adopted. Everything should be analyzed from the customer’s POV; anything that might engage the customer is definitely a good place to start.
Powerful analytics to measure engagement levels
Once all is said and done, the conversion rate is what matters. Conversion is defined as the entire process which ‘converts’ the website visitor into performing a specific action. Conversion needn’t necessarily entail making a purchase; it could be something as simple as getting a visitor to download a coupon, brochure, e-book, guide, or participate in a webinar. Website conversion metrics are typically assessed by way of Google Analytics; a powerful set of tools available to website owners. Sometimes, the conversion metric requires the visitors to perform functions offline, such as preparedness, assessment, or study. In these cases, it is important to follow through with website visitors to ensure that the data has been uploaded and evaluated.
Unfortunately, there are negative metrics that need to be evaluated as well. The ‘Unsubscribe Rate’ measures the percentage of people who unsubscribe from your e-commerce website. They do this in several ways, notably by marking your messages as spam and unsubscribing from them entirely. There are ways to reduce the unsubscribe rate, notably by targeting the right market to begin with, and providing highly engaging, useful content in the email marketing campaign. Options should be provided to curtail the likelihood of an unsubscribe, such as reduced frequency of messages between ‘companies and clients’.
Viewed in perspective these tactics and strategies can certainly help to improve your email marketing campaign and make it a highly effective tool in your resource kit.