In this article virtualROI discuss how effective email marketing can offer businesses advantages ranging from highly tangible revenue increases to softer benefits such as improved brand perceptions and if done correctly everything in-between.
An email marketing strategy based on email marketing best practice can help with many things, however a non-exhaustive list of benefits include..
Driving sales and revenue
Profiling your customer base and asking them by email how and what they would like to be sent to them ensures that you are communicating the right information to the right person at the right time this will helping to drive sales
Email can help you acquire new customers (provided lists are well sourced and used with care) and is an essential part of any businesses marketing strategy
Email can drive the right kind of traffic to website(s) and or specific campaign landing pages or microsites
Email can help create cross-sell and up-sell opportunities by enabling easy communication of offers and additional services/propositions
Effective email communication can help maximise customer lifetime value and generate conversions and repeat sales from both new and existing customers
Email opens and clicks can be tracked and can be used as a mechanism to drive sales team follow up
Email marketing is still very cost-efficient and is still (in many instances) cheaper than other forms of traditional direct marketing
Email marketing campaigns are relatively quick to produce with the right systems and teams in place be it internal or on an outsourced basis
The right messages to the right person at the right time helps retain customers – retention is cheaper than acquisition
Increasing satisfaction and loyalty
Targeted, relevant and tailored communications help keep customers happy and informed whilst providing them with a personal touch
A happier customer is far more likely to remain loyal to your business/company
Email provides excellent opportunities to keep in front of customers reminding them of the benefits of your proposition and the value they are getting from your business/company
As with driving sales profiling customers or prospects and providing them with information that they want how and when they want it helps to increase satisfaction and loyalty
Boosting brand awareness
Successful integration of messaging and creative help to boost companies/businesses brand
An enhanced customer experience and brand experience will improve perceptions of your company whilst improving recall of your brand
Build solid relationships with customers and prospects alike by engaging in an efficient way with information people want how they want it delivered
Improving customer intelligence
Requesting feedback by email enables companies/business to increase and speedup the intelligence gathering on what existing and prospective customers think of them
Email campaigns can be personalised and highly targeted for individual customers or behaviors. Integration with web analytics software can help this process.
So in conclusion there are many ways the ROI of best practice email marketing can be measured and with the ability to measure comes the ability to report and track the progress of email strategies and continuously improve upon them.