Do you know which marketing channel brings the highest return on investment (ROI)?
Most business owners don’t know the answer to this question. Do you know what your best performing marketing channel is? The reason business owners don’t know boils down to performance metrics. They don’t have any.
I hate wasting money. If you’re not measuring the performance of your marketing dollars, you are just throwing money out the window. Do me a favor and throw it my way.
I want every marketing dollar that I invest to bring back at least $2. That’s $1.00 out and $2.00 in return. Three simple steps to achieve this are: (1) every marketing piece is constantly being measured for its effectiveness; (2) every piece is tested before mass implementation and (3) everybody in the loop is held accountable.
Okay – back to the above question. The answer is email marketing. Email marketing has the highest ROI of any digital marketing channel.
For it to work, you need to follow these 4 steps.
Step One is to create solid email marketing plan. A well thought out plan lets you get started without investing a ton of money in mailing lists and a fancy expensive hardware package.
Step Two is your subject line. The subject line is the most important part of your email campaign. It has to be both creative and attention getting. Dull and boring headlines means your email won’t get read. Unread email is a waste.
Step Three is great copy. If you’re like me, you get a lot of email. How much time do you spend on each one? Not much. You have about 2 seconds to grab someone’s attention. If you get their attention, they will keep reading. Writing good copy is an acquired talent and doesn’t come naturally to most people.
Step Four is measuring your results. There are a lot of metrics out there. Most simply leave you glassy-eyed. Ad agencies love to show you their effort such as: how many sent, how many opened, how many replies, how many click-throughs, how many opt-ins, opt-outs, etc. The list is almost endless.
There are only 2 metrics that matter: how many sales were generated and your ROI to achieve those sales. My bank won’t allow me to deposit clicks into my account. Yours doesn’t either.
Email marketing is a game changer. But it has to be done the right way. To learn more, click here to set up a phone call.