How to Use Email Marketing Metrics to Maximize Your Campaign ROI

email metrics

Email marketing campaigns are a handy way of reaching out to potential clients. 

Actually, even saying that is a bit of an understatement. Using email, businesses around the world reach out to hundreds of thousands of clients every year. 

That’s a lot of potential for marketing.

Still, a boxer’s punch is only as good as the length of their arm. Great marketing is less effective when it doesn’t reach enough people.

Today, we’ll be discussing how to use email metrics to measure whether your email is helping you hit your goals. With this information, you’ll be able to hone your digital marketing, with a focus on email.

Why Do Email Marketing Metrics Matter?

Marketing emails are unique, by their very nature.

From one company to the next, the content, goals, and duration of your campaign all depend on what you want to get out of it.

The one thing they all have in common, though, is that they’re an investment in your business’ marketing structure.

Nobody invests time or money into something that gives nothing back, especially when that thing is advertising. Success isn’t just important – it’s the only reason to keep your email marketing going.

But how do we measure success?

As it turns out, through the use of accurate and comprehensive metric measurements. 

Whether you’re growing your email database or marketing a new service, access to the numbers allows you room to adjust and perfect your plan.

Specific metrics can provide meaningful insights into the efficacy of your email campaign. Each individual metric can help to drive engagement in your program, by tailoring the way you approach it over time.

Remember: before you begin your campaign, you have to evaluate your objectives. What are you trying to do? What would you consider a success? Decide on the metrics associated with these goals, and work to refine your emails, accordingly.

Decide on the metrics associated with these goals, and work to refine your emails, accordingly.

Six Email Metrics To Focus On

Though not all email metrics are created equal, there are some areas you should be focusing on in order to truly streamline your marketing.

Clickthrough

This is the most basic metric to measure and adjust for the success of your email campaign.

Measure the percentage of email recipients clicking on links within your email. With this information, you can track and measure the changes associated with your A/B split testing. Moreover, you’ll be able to measure the effect of your content on the people you’re emailing.

Moreover, you’ll be able to measure the effect of your content on the people you’re emailing. The higher the percentage of people clicking through, the more effective the content.

Conversions

If clickthrough is the foundation of your email marketing, conversions are its walls, roof, windows and light fixtures. Without them, you’re out of luck.

Always be converting.

The idea is simple: if someone clicks through to your website, you want them to click, next, on something that benefits your business. Any click “with meaning” is considered a conversion, and this is an easy metric to follow.

Integrate your email and website metrics to showcase your conversions, for maximum ROI on your email marketing campaign.

Bounce Rate

Bounceback, for ROI purposes, has the opposite effect of a clickthrough or a conversion.

This is the total number of emails which did not successfully reach their recipients’ inboxes.

“Soft” bounces result from temporary problems with the address, while “hard” bounces are from broken addresses. While one is clearly worse than the other, it’s important to get this number as low as possible.

List Growth

A secondary metric that can really make a big difference in the way you conduct your email marketing is the rate at which your email list is growing.

The benefits of this metric are clear: the more people on your list, the wider your reach is. Similarly, if your list is shrinking, you’re clearly either doing something wrong or not giving people enough reason to stay with you. 

Sharing and Forwarding

In digital marketing, as well as anywhere else, you’re only as good as your reach.

The more people who get hold of your marketing content, the better the chances are that someone will click through or convert.

But how do you get your email into more hands than just those on your standard mailing list?

Through sharing.

Integrated links for sharing and forwarding your email content, give users the ability to “spread the word” about your brand, all on their own. And that brings with it the potential to reach hundreds or even thousands of readers you don’t even know.

With sharing email metrics, you’ll be able to see the spread of your content to addresses other than the ones on your list. Those new readers, in turn, will add to other metrics, which can also be measured.

It’s no stretch, from there, to examine your content and identify how it is being and clicked. From there, shifting your focus to improving and reproducing those areas is simple.

Total ROI

Every marketing campaign comes down to a simple question:

“Am I getting enough of a return for the money I’ve invested in this marketing?”

Luckily, when it comes to email marketing, it’s possible to measure Return on Investment (ROI) and get this exact information. 

Measure the performance of various emails, links, leads, and content, and compare these numbers to goals you’ve set up, beforehand. How many email leads, from the total number you’ve sent out, end up converting? How much did you spend in man-hours, putting this campaign together? Are you making your investment back, or could you, give time and a steady improvement?

How much did you spend in man-hours, putting this campaign together? Are you making your investment back, or could you, give time and a steady improvement?

Depending on your focus, it’s easy to see the return on investment in your marketing campaign using metrics to measure performance.

Use Your Email Metrics The Smart Way

Email campaigns are a great way of getting your business name in the email inboxes of any number of potential clients. 

The efficacy of a campaign like this relies on your ability to check the numbers, though. Depending on how you approach it, this information can be used to tweak, repeat, or scrap your email marketing.

Remember to plan which metrics you’ll use, and don’t waste your time on information that doesn’t benefit you.

Interested in the benefits of this and other awesome content marketing strategies? Visit us, today, and transform your marketing with our comprehensive services.

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5 Signs Your Business Is Ready For Marketing Automation

5 Signs Marketing Automation

 

Many businesses find the concept of marketing automation appealing and want to jump right in with an improved strategy. However, a number of these companies don’t fully understand the financial implications — dedicating someone to the project full-time, or even just three-quarters of the time, is a big investment, not even considering the expenses for paying for software and development of content.

Although it is undeniable that marketing automation has significant advantages, it can also be a waste of money if you are not yet in the position to benefit.

1. You Have Enough Content to Automate

First of all, it is important to understand just how much content you will require for marketing automation. Ideally, you will have content for every persona at every stage of the buying cycle and in a range of formats (blog posts, videos, and podcasts, for instance).

This is a huge amount to plan, design, and create, and you should already have at least half this content to make marketing automation worthwhile.

2. You Have an Allocated Budget

You must be able to afford the costs of software, a dedicated team of staff, and content creation tasks. The exact amount you can expect to spend will depend according to the number of contacts in your database and the number of emails you intend to send per month.

It is important to note that trying to cut costs in any aspect will most likely result in lower quality content and less conversions, which can end up costing you more due to a reduced ROI.

3. You Are Unable to Reach Your Revenue Number

You should have already completed the analytics and determined the number of inbound visits, conversions, nurtured leads, and wins you need to reach your revenue. If you are currently falling short, marketing automation is the right solution, as it will allow you to deliver the right type of content to different groups of prospects at specific points in the buying cycle.

4. You Are Already Investing in SEO

SEO is essential for continually gaining qualified leads and a constant flow of traffic to your website, as marketing automation cannot work if you lack leads and prospects whom you will convert. Plus, connecting the content you create for email campaigns, newsletters, and articles to your website adds to optimization efforts, further improving search engine rankings to send you yet more visitors.

5. You Have CRM Software

CRM software is a much smaller investment and a precursor to the more complicated marketing automation. You can think of skipping CRM to dive straight into marketing automation as like trying to learn to ride a bike without training wheels. Before you even consider marketing automation, you should have set up CRM software with all the details about your customers and prospects.

Once you have fulfilled all the above criteria, you are ready to benefit from marketing automation. However, if you fall short in any point, you should first focus your attention on solving this shortcoming before employing marketing automation software.

Do Your Research

SharpSpring, a marketing automation services company, and Acend2 collaborated to conduct interviews with over 300 small-midsize businesses to benchmark their automation strategy and expectations.

MarketCrest has presented the results in a free ebook to help CEOs determine if they are ready for the investments and if so, provide benchmarks on strategy. The research results are available on our free Resources page.

MC MAS-Research Reports

 

About MarketCrest:

MarketCrest is a Marketing & Consulting Services firm focused exclusively on strategies that drive revenue growth. Simply put, we exist to help you compete and grow and we expect to be held accountable for your improved performance.

MarketCrest also provides Marketing Automation and CRM solutions, and services for clients. Learn more, and receive a free 1-hour consult with a marketing strategist.

 

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An Introduction To Marketing Automation

Marketing Automation

When looking for ways to improve marketing in your business, you may come across the phrase “marketing automation.” This term encompasses all types of software and techniques that enable you to automate your marketing tasks while personalizing efforts toward different groups of prospects to increase your chances of gaining conversions.

As a manager of a small business or startup, you may be wondering if such a course of action would be worthwhile for you. To clear up any doubts you may have, in this post we will look at how marketing automation works, what are its advantages, and who can benefit.

The Marketing Automation Process and It’s Capabilities

Marketing automation is often confused with email marketing, when in fact it is far more complex. Although email marketing is part of marketing automation, it is just one small component.

In addition to handling marketing execution, marketing automation allows businesses to improve efficiency in a number of areas, including lead generation, segmentation, lead scoring, nurturing, customer retention, and analytics, all by prioritizing leads by their likelihood to convert, filtering prospects according to engagement and interest, and making sure marketers stay on track with the aims of their strategy. More on this subject in our MarketCrest Infographic.

Software for marketing automation usually consists of:

  • A database that holds all the information about leads, prospects, and customers.
  • An engagement aspect, where authors can create and manage content for lead nurturing and for landing pages.
  • Analytics, to measure marketing efforts, compare actual results against expected results, and determine the best ways to improve engagement and conversions.

Some of the top providers include HubSpot, Pardot, Marketo, and SharpSpring.

Why You Should Consider Marketing Automation

As your business grows, you will find it impossible to handle all your marketing tasks manually, even if you dedicate a small team to the task. Marketing automation solves this issue by doing some of the work for you. Whereas this is obviously a priority for large corporations, it is also beneficial for small companies. Freeing up resources for other necessities will allow you focus your efforts on aspects of marketing that cannot be automated, such as content creation.

The most significant benefit you will receive from marketing automation is higher revenue, due to increased pipeline and greater productivity. Nuclear Research found that 95 percent of companies saw some improvement, including between on average 1.5 and 6.9 percent greater productivity in marketing and 4 percent in sales productivity.

To get started with marketing automation in your company, check out this new marketing automation research.

MC MAS-Research Reports

Once you’ve decided if it’s the right option for your business, contact us to find out how to take your marketing efforts to the next level, including which automation services would be suited to your needs.

About Us: MarketCrest is a Marketing Consulting & Services firm focused exclusively on strategies that drive revenue growth. Simply put, we exist to help you compete and grow and we expect to be held accountable for your improved performance.

MarketCrest also provides Marketing Automation and CRM solutions, and services for clients. Learn more, and receive a free 1-hour consult with a marketing strategist.

 

 

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The Value of Persona Development & List Segmentation

B2B Marketing Techniques: Yes, investing time in persona development and list segmentation is worth it.

persona development and list segmentation marketcrest

Two of the most influential ways to market your business include implementing the techniques of persona development and list segmentation.

Not only do these practices help to efficiently identify your target market, but they help business owners and CEOs determine the most effective strategies for attracting, engaging, and satisfying their clients. Not to mention the practice has been proven to help win business and boost profits.

Uninformed marketing, the kind that is commonly used to blindly attract anyone and everyone, tends to end up in the mundane, unsuccessful category. It doesn’t stand out from the crowd. It fails to make a convincing argument to the audience. By taking the time to determine who your business is best suited for, business owners and CEOs can optimize their marketing budget and maximize ROI.

List Segmentation

The first step includes segmentation, or the classification of individuals into various groups based on specific characteristics or qualities. Once these subgroups have been determined, distinguishing tactics can be implemented so that each subset is adequately addressed. In order to pull this off, business owners should tap into a variety of supporting data from various resources.

When deciding which target markets are most applicable to your brand, the following criteria are crucial for successful market segmentation:

  • The group must be large enough to produce substantial income.
  • The market must be consistent and not at risk for dissipation or disappearance from the general population.
  • The group has a general history of responsiveness or reactivity to being targeted from an advertising standpoint.
  • The characteristics that determine the subsets must be clear, measurable, and exact.
  • Reaching the subset does not require any additional or excessive expense.
  • Individually specific consumers can be targeted from the group.
  • Your marketing strategies must be capable of reaching said group.
  • The subsets offer relevant supporting data that enhances and improves your approach to sales and marketing.

Marketing experts often use geographical identifiers like country, states, regions, cities, languages, postal codes or even neighborhoods to help narrow down a specific group of targeted consumers.

Another option for marketing segmentation includes the classification of customers based on demographic information like age, education level, current occupation, and/or gender.

Using a combination of both geographical and demographical descriptors is often referred to as a geo-cluster approach to segmentation, and this method helps business leaders to identify an even more specific audience.

Internal segmenting of customer accounts is often used as a business model to help organize territory based sales tactics. For example, client accounts grouped by industry type, transaction volume history, or nature of the developed relationship can all help to identify the most loyal accounts and those that are most likely to conduct continued business with your company. 

persona development marketcrest

Once your target markets have been established, a key to successful marketing campaigns is the development of personas.

Persona Development

This requires business professionals to place themselves “in the shoes” of their own customers and create a hypothetical individual that is likely to do business with their company. In theory, these characters are real people, with real identifiers, realistic characteristics, and relevant needs. So, how do you generate these marketing personas?

Start by considering the following questions:

Describe your persona’s demographic characteristics. Are they male or female? How old are they? What do they do for a living?

In the B2C world, you might leverage whom they live with and what necessities keep their household afloat. In B2B, not so much.

You can, however leverage other characteristics. How do they make choices when it comes to spending money? What advertising techniques are most influential to them? What types of outlets or platforms are pivotal to their buying choices?

Determine which departments are most likely to be involved (ie: Information Technology, Purchasing, Sales, Marketing etc.) and why. What is the driving force behind their activity or interactions with your company’s industry? How might they communicate with your competitors or other businesses with products and/or services similar to yours?

And also…

Why are they choosing to engage with you specifically? What is the extent of your relationship with them? Do they need special attention or accommodations? What are their goals? Where is this relationship going?

What media platforms are most useful in transmitting helpful information regarding your company’s products and/or services? Are they conducting online searches or using social media accounts? What keywords might they be using to help them locate your company online?

Are there any other influencing factors like product reviews, personal success stories, or specific details concerning merchandise that might be driving their decision to reach out and conduct business with you?

People tend to be very complex, so the more you can develop your marketing personas, the more relatable, realistic, and successful they will become.

Dive deeper and expand the character of your persona(s) with the following suggestions.

Tap into third party resources for statistical information regarding your persona’s demographics or habits. Existing data is incredibly informative and applicable to further strengthening the potential of your persona.

Consider how your persona might interact in real life. Use those scenarios to help you create strategies for conversation and communication to your target audience.

Take advantage of any opportunities to implement social media platforms that are relevant to your persona. As society continues to depend on technology, these free resources are becoming popular and effective tools for reaching your buyers.

So why exactly should businesses take the time to segment and develop marketing personas?

Personas should be used to help your business team come up with marketing strategies all across the board. Collectively determine which personas are most likely to conduct business with your company on a regular basis.

Which personas are least likely to spend their money with you? If you narrow down your marketing target, you are more likely to secure your best accounts and generate dependable, predictable transactions. Failure to develop well defined personas, can result in futile marketing attempts that do not reach the correct audience.

In addition, successful personas allow business leaders to connect, relate, and communicate with their clients on a more personal level. This type of relationship has a proven track record for establishing loyalty, longevity, and overall customer satisfaction.

If you get to know your clients like you do close friends and family, they will be more likely to recommend your product and/or services to others. It will also keep the doors wide open to smoother communication when conducting your business transactions. You will have the tools to identify the specific needs of your clients, and you will know best how to address them.

Here are just a few examples of how marketing personas can help you maximize your business capabilities.

  • Defining your company’s distinguishing qualities
  • Shining light on internal changes that might help enhance current client relations
  • Determining the most effective ways to present your company’s brand
    Shaping pricing structures, discounts, bundles, etc.

So, not only can segmentation and marketing personas help businesses shape their advertising and branding tactics, but they can help businesses to determine the most effective business practices that are most likely to result in long term, profitable relationships with their clients.

MarketCrest is a firm focused exclusively on Marketing Consulting & Services that drive revenue growth. Simply, we exist to help you compete and grow and we expect to be held accountable for your improved performance. Learn more, and receive a free 1-hour consult and Get Help NOW!

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