When it comes to profitability, email marketing is in a league of its own. The latest data indicates that email marketing has an average ROI of 4,400%. In other words, every dollar you spend on email marketing nets you a return of $44.
There is no doubt that email is one of the most effective digital marketing tools you can use. But the key to successful email marketing is the implementation of a solid strategy.
In this post, we’ll walk you through five data-backed strategies you can use to maximize the power of email marketing.
1. Segment your list using various subscriber data.
Through email list segmentation, you can increase your revenue by 760%. Additionally, certain reports suggest that segmented emails generate 58% of all your revenue.
Segmenting your email list should be a priority if you want to make your email marketing more effective.
You can segment your list using a variety of subscriber data including:
- Geographical location
This is basic segmentation, but you can definitely be more precise in terms of the type of subscriber information you use.
When segmenting your subscribers, you can also use the following behavioural data:
- Buyer personas – Create different buyer personas for each type of customer that your brand has. These personas will be the basis for your custom segments.
- Email engagement – Group your subscribers according to the emails they open and the offers they click through.
- Purchase behavior – Create segments based on the type of products certain customers bought or the frequency of their purchases
With these specific segments, it becomes much easier for you to send relevant messages and keep your subscribers interested. This increases the likelihood of subscribers not only engaging with your emails but also converting.
2. Personalise your messages
Personalisation acts as a cornerstone for many email marketing strategies—and it’s easy to see why.
Personalised emails generate six times higher transaction rates compared to those that are not personalised.
Personalising messages allows you to connect with subscribers on a deeper level and earn their trust, both of which are necessary for conversions.
Here are some of the most effective ways to personalise your emails.
- Subject line – Always include the subscriber’s first name in the subject line of your email. It may be a simple trick, but it can also increase your open rates by 26%.
- From name – Personalize the from name so that your emails don’t reflect the same person every time. Be sure to always use the names of actual people who work for your brand. For example, you could use the name of someone in your sales department for promotional emails, while email responses to product inquiries could be from one of your customer service representatives.
- Email content – Greet your customer by their first name in the body of your email. Instead of “Hello Customer”, you can try something similar to “Hey there, John!”.
- Images – Use dynamic content that changes the images of an email based on the recipient’s segment.
- Behaviour-based personalization – Integrate your subscriber’s behavior into your personalisation efforts. An ideal email to try this with is your product recommendation email. Personalise product recommendations according to your subscribers’ purchases.
3. Automate your emails.
Automating your email marketing can boost your conversions by 50%.
Make your life easier by automating certain emails. Doing so makes your email marketing process much more efficient and results in better customer engagement and conversion.
Emails that you can set up workflows for include (but are not limited to):
- Welcome series – Timing is essential when it comes to welcome messages. Set up your welcome emails so that they are sent within the same day of a user signing up. Include an exclusive offer that entices your new subscriber to make a purchase immediately.
- Holiday emails – Set up all your holiday emails at the beginning of the year to ensure that you don’t forget about them. All you have to do after that is wait for the conversions to come in.
- Product recommendations – Send subscribers automated recommendations based on their most recent purchases. Make sure to leave out recommendations for products that the customer has already bought.
4. Adopt a “mobile first” strategy.
Research suggests that 46% of all emails are opened on mobile devices, so you need to make sure that your emails display perfectly on all devices.
If you’re not familiar with how to code emails for mobile, don’t worry. Use mobile-responsive email templates that are pre-designed to display on both desktop and mobile devices. Email templates are also highly customisable, which means you can craft a wide range of emails to suit your requirements.
For best results, use an email marketing platform that has a drag-and-drop email builder. This way, you can quickly swap out different email elements and create stunning, professional-quality emails.
5. Study email marketing benchmarks
Monitoring metrics is indispensable in email marketing—every marketer knows this. What a lot of other marketers don’t know is that there is another type of email data they can keep track of.
Enter: email marketing benchmarks.
Unlike the data from your own email analytics, email marketing benchmarks give you an idea of how various industries are performing when it comes to email marketing.
Studying email marketing benchmarks allows you to measure your performance against your own industry as well as others.
Are your open rates higher or lower compared to other brands in your industry? Do your emails get more clicks? These questions—along with a host of others—can all be answered with current email marketing benchmarks.
There you have it. Five data-backed strategies that can take your email marketing to the next level. Keep these strategies in mind for your next campaign and rest assured, you will see a marked improvement in your email engagement, conversion, and overall ROI.