E-Mail Marketing: Make $57 For Every Dollar You Spend - InformationWeek

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3/26/2009
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E-Mail Marketing: Make $57 For Every Dollar You Spend

That insanely boastful ROI figure comes courtesy of the Direct Marketing Association. The organization estimates that e-mail marketing can generate $57 for every dollar invested. But even if that figure doubles reality it doesn't explain reports that 60% of smaller businesses haven't even tried e-mail marketing. What are you waiting for?

That insanely boastful ROI figure comes courtesy of the Direct Marketing Association. The organization estimates that e-mail marketing can generate $57 for every dollar invested. But even if that figure doubles reality it doesn't explain reports that 60% of smaller businesses haven't even tried e-mail marketing. What are you waiting for?An August 2008 study from Opus Research is where that 60% figure comes from. And even if the estimate was high to begin with and has gone down since the report was released, that's still a significant number of small and midsize businesses that have yet to take advantage of what is arguably the ultimate killer app of the digital age.

Unless your target customers are genuine Luddites, deliberate technology avoiders, or outliers who docketed rural electrification act, e-mail marketing isn't a medium you can afford to ignore. But embracing doesn't mean plunging ahead blindly. Fortunately, there's no shortage of tools and resources to help you with your e-mail marketing efforts from the E-Mail Marketing ROI Calculator available on the bMighty tools page to Nilofer Merchant's insights on crafting offers your customers can't refuse to advertising expert Thomas Harpointer's tips.

Of course, bMighty hardly has an exclusive lock on tips and tools for better e-mail marketing. In fact, e-mail marketing solutions provider Campaigner just launched an ongoing series the will deliver more e-mail than one hundred e-mail marketing tips. In fact, the plan is to provide 101 tips, eventually. Each week the firm's Inside Campaigner blog will include 2-3 tips. When all 101 are rolled out, they'll be compiled in a book.

But you don't need to wait for that. Here's the first 5 tips that focus on creating a foundation for your businesses' e-mail marketing (check back with Campaigner for more tips each week):

  1. Put Yourself In Your Customer's Shoes -- Small business owners and entrepreneurs like to jump right in and get started, which is crucial to success, but it's also important to prepare and plan and set objectives, especially when it comes to e-mail marketing. When you're getting started with e-mail marketing make sure you step back and think through what you're trying to accomplish. The best way to do this is to try and see things through your customer's eyes.
  2. Make A 2009 E-mail Marketing Plan -- Once you've established your e-mail marketing objectives, you can build an e-mail marketing plan for the year. Look at the calendar, again from your customer's perspective.
  3. Start Building Your E-mail List -- Now that you've put yourself firmly in your customers' shoes, you're ready to start building your opt-in e-mail list. Opt-in means that your customers understand clearly that by signing up they are giving you permission to send them e-mail communications. Make sure this is clearly stated whether the sign up is on a web page or a paper form. In addition to name and e-mail address, think about other information that could help you target your e-mail campaigns.
  4. Create An E-mail Template That Reflects Your Brand Image -- E-mail marketing services provide templates that are great for getting started. Try and choose a look and feel that reflects your business and brand image.
  5. Begin The Conversation With Your Inaugural Campaign -- Now you're ready to launch your first e-mail campaign! Kick things off by introducing yourself and setting expectations. Let your audience know the type of information they'll be receiving and how frequently they can expect to hear from you.

More Sales & Marketing From bMighty:


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