In a business world fixated on increasing more customer intelligence, you would imagine that email marketing would get more respect. However, if you look at the media spending, businesses are spending very less on email advertising. Evidently, compared with other media, email messages are very reasonable to send. With TV you are spending on advertisement agencies, studios, and cable channels. With print advertisements, you are helping daily newspapers and magazines stay alive. Direct mail costs more than $600 per thousand pieces. With email, there are no expenses by any means. Yet, its minimal effort just makes the argument more grounded that email marketing is the most savvy marketing technique accessible today.
Surely email beats the competition from a ‘quantifiability’ point of view. With TV you don’t know who is viewing your advertising; same with print. Indeed, even with direct mail, you can’t make sure that your mail has been conveyed, or that anybody opens it when it arrives. With email, you know within of 24 hours, which messages have been opened, by whom, what links have been clicked on, and which part of your message was working.
An organized email message gives this advantage to the advertiser since it gives benefits to buyers. On email, the promotion is substantially more. The recipient who opens your messages can do their own exploration: they can investigate and see any of the items that you offer. They can even explore ratings given by other purchasers and surveys. They can place items in their shopping carts and purchase them.
What disparagers appear to resolutely disregard is that emails make impressions that prompt deals through different approaches. Some of these routes can be tracked via email metrics. The recipient may open it or delete it. If the recipient opens it, he/she can click on it, maybe purchase something or print out a coupon and take it to a store.
Off-email multiplier comes into play. It is the number of sales made face to face and over the telephone by total email sales.
Offline sales/email sales = off-email multiplier
Once you have the off-email multiplier value, you can calculate the true value of your email marketing efforts. Direct mail has a higher response rate than email. However, direct mail costs around 100 times as much.
What could your off-email multiplier be? Zero is quite possible, however, studies to date show that a number somewhere around two and three is typical.
When you figure out your off-email multiplier, it’s an extremely easy win that email will beat all your other marketing techniques in terms of profitability. As email marketing gains more respect, marketing intelligence will meet more customer intelligence.
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