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After you have dedicated a few weeks or months to a marketing campaign, you may want to know how much return you’ve gotten on your investment of time, money, and staff. Here are 4 ways to help you analyze your efforts:
1. Your Email Law of Averages
What are your average sales numbers, versus your specials sales numbers such as during holidays? Figure out what you can expect from a typical email marketing blast so that stream of revenue becomes something to depend on.
2. Revenue Per Email
Even though most ESPs, including Mission Suite, offer analytics that track conversions by email, surprisingly few companies look at this analytic. It’s important to know which round of email messages were the most successful.
When sending an email blast — or a related series, such as the same basic message to several segmented sections of your database — keep an eye on the open rates, click-throughs, and conversions. Track this over time, as well. People save emails for weeks and forward them to friends. You may find that one product becomes trendy due to one email blast; keep track of how that happened.
3. Are You Using Best Practices?
Extensive email marketing research has created these basic guidelines:
- Schedule your email blasts. Use your ESP to plan out your campaign, and stick to your schedule.
- Work smarter not harder: more email doesn’t always equal more click throughs. Plan your content and subject headers to have the strongest impact so you make an impression by sending once or twice a month. Don’t inundate, innovate.
- Do you have a single, branded format, or do you change it frequently? Numbers vary wildly on how many email messages the average person gets per day (from 7 to 200), but people’s behavior doesn’t: email is read quickly, skimmed, not examined. Your brand must be recognized instantly when the reader opens the email; without brand recognition, each email must do the work of the initial, cold sell.
- Are you sending a one-size-fits-all message to your entire list, or segmenting your list to send the right message to the right customer? Sending a shorter, more targeted message is easier than figuring out what everyone wants to hear. You will be able to send more specific messages less often and get a higher ROI.
4. Your A/B test results
Do you frequently test to determine what your customers want to see in their inbox? If you have a lot of mobile users, have you adapted your HTML and multimedia use to their needs? If there is a change in your open rates, can you determine the reason by running an A/B test?