Calculating Your Email Marketing ROI
Have you ever wondered how much of a return an email campaign generated? How many leads were generated from your recent email campaign? Or webinar signups? Or sales and profits?
Track & Measure Email Marketing ROI
How does this work?
By setting up site and ROI tracking for your OM3 account, as soon as a recipient opens and clicks a link in your email and goes to a page with the tracking code, OM3 can then do three things:
- Track the journey of contacts who go on to access your website via links in your campaigns
- Track ROI values for those same visitors (lead generation or ecommerce values) split test campaigns using ROI metrics
Site tracking enriches your data and your understanding of your contacts’ engagement with your site, whilst ROI tracking gives you a greater appreciation of your campaigns’ ROI conversion rates. Click here to learn how to set up Site & ROI Tracking.
Here are two examples of how the ROI tracking was used for lead generation:
- Crowdster, a fundraising software company for non-profits, has been sending email campaigns to their recipients where the main call-to-action is to “Request A Demo” of their platform. Using the ROI tracker, they’re now able to measure their ROI for each email campaign and track leads and what pages they visit as well.
- Another example, Isaac’s Moving & Storage, who has a series of drip campaigns that go out to new home owners with a call-to-action to request a Free Estimate for moving. With this ROI information, we can easily see in the reporting which email got this lead, how many times they requested a quote and when, and what pages they went thru.
Improving your ROI from email marketing
Once you have a better understanding of your email marketing’s performance, you can benchmark your metrics against previous periods and start looking at ways to improve it going forward. To start, have a look at these key factors:
- Segment your data to send relevant emails
- Use automation to immediately react to strong buying indicators with programs such as Cart Abandonment and thank you messages with cross/up sell offers.
- Split test your emails to see what works best for you, including subject lines, friendly from name, creative and from address
- Test different landing pages and see what works best with your audience