While generating a solid digital marketing ROI feels pretty darn good, saving money on digital marketing feels just as rewarding. That’s why we’ve dug far and wide for email marketing strategies that will give digital marketers more bang for their buck. Some digital marketers might find themselves in the over-priced department stores of paid advertising, but fear not – email marketing continues to yield an average 4,300% return on investment for businesses (DMA), signaling that hidden treasures are not far away.
Here are our top email marketing strategy finds for impacting the bottom line and saving money on a marketing budget.
The Easier The Better
One of the greatest tactics for saving time and money on email marketing is implementing email automation. Once a subscriber signs up for an email list via a website, social media campaign, advertisement or other channel, they’re likely to receive some sort of value. However, as invaluable as the content promotion, offer, sales email or communication may be, if it’s not backed by supplementation and consistency, it will fall flat on its face.
This is where a solid automation strategy ensures that marketers fill in all the gaps of inconsistency and also where campaign strategy development makes the most sense. Instead of following up on a new email sign up with an incredible, hard-to resist offer, a marketer can get more momentum from supplementing an email offer with other offers that tie into the initial message.
For example, check out this email from Apple Music. Right as the Apple music membership is up, Apple sends out a teaser that promises the consumer that they can keep enjoying their music without any interruptions if they sign up for auto renewal.
Need a little more inspiration to implement an automation campaign? Sending automated messages like free-trials, upgrades and add-ons to basic service and product offerings is responsible for 75% of email revenue according to the DMA.
Uncovering Hidden Pockets of Revenue
Another gold-mine of revenue saving opportunity is transactional messaging. Most often used in e-commerce, transactional emails like account creation, order confirmation, order shipped, shopping-cart abandonment, thank you and product feedback emails can turbo charge sales figures. In fact, “thank you for your order” emails score a 13X increase in revenue over other promotional mailings.
Transactional emails offer tons of real-estate for a product cross-sell opportunities and opportunities to educate the consumer on the benefits of completing their transaction.
Here’s an example from Net-a-porter’s shopping cart abandonment email. The email is personalized with an image of the product the consumer left in their shopping cart, but the message doesn’t stop there. Net-a-porter tops the email off by offering 6 great reasons to continue with the transaction. Definitely a score!
Amazon is also a leader in transactional marketing. Check out the key elements of their shipping confirmation email. In addition to offering important details regarding the order, the e-commerce giant takes the opportunity to recommend related products that the consumer might be interested in.
Purpose and Relationship Driven Marketing
In email marketing, as valuable as relationships are, they can be expensive. Personalized email marketing gives marketers the opportunity to establish relationships that result in brand loyalty – the ultimate game changer. Personalized emails that include real-time, predictive product and service recommendations deliver 6X higher transaction rates than non-personalized emails. When matched with automation, segmentation and targeting, personalized emails drive an average ROI of 77%.
This email example from Babies”R”Us, includes multiple personalization elements that go beyond “first name” variables. In addition to personalizing images with custom fields that give unique value to the recipient, the retailer also includes a store locator map based on the recipient’s location. Now that’s relevancy!
Getting Out Of The Comfort Zone
Email marketing is single-handedly responsible for surpassing revenue increases offered by search and social. As one of the most reliable avenues for communicating to large audiences at a relatively low price, email campaigns are 6x more likely to drive a click-through than a tweet, 40 times more effective at acquiring new customers than Facebook or Twitter (McKinsey) and drive more conversions than any other marketing channel, including search and social (Monetate).
Email campaigns offer a ton of analytics and statistics regarding demographics, location, prime times and a comprehensive overview at which messages work. This data offers massive integration potential with other channels and platforms, helping marketers to remain consistent and relevant.
While a message is 5x more likely to be seen in an email rather than via Facebook (Radicati), the relationship between social and email is undeniable. Welcome emails with live embedded social feeds drive a 75% high click rate than basic icons, while the application of contextual content like Facebook, Pinterest, Instagram, Twitter and RSS feeds can now boost responses through offering real-time information.
Check out the live news feed for Showtime’s “Shameless” promo. The email encourages interaction with the button “join the conversation” while delivering live twitter feed about the show. They’re on to something: adding an action call button instead of a link can increase conversion rates as much as 28%.
Companies interested in instilling good spending habits can greatly benefit from the right email marketing strategies. Consistently tracking key metrics to measure email marketing ROI can quickly determine which strategies are working and which ones aren’t. Hop on over to this quick email marketing calculator and see if there’s a little room for improvement.
BlueHornet’s suite of email marketing services can help you discover and implement strategies and technology that is aimed at helping companies save time, money and get results fast. Connect with our Strategic Services team today.