If you are using email as part of your overall marketing (and we recommend that you should), there are 5 excellent, compelling, logical, cost-effective, and rewarding reasons why you should be investing in email open rates.
In actuality, there are more than 5 reasons. But like the 5 fingers on your hand, you can use each finger separately, or in various combinations, or all 5 together. The same is true for the reasons to invest in email open rates. Each reason has its own merits but taken all together; they are even more powerful.
I learned the hard way that email campaigns are worthless if you can’t measure their success.
#1 – FOR MEASURING SUCCESS
How will you justify the time you spend creating email campaigns if you can’t report even the most basic statistics? I’ve been in that situation, with my boss asking exactly those kinds of questions, and rightly so. “Soooo,” he says. “Can you show me the results of your efforts? How much money did we make? How many new leads did we get?” And I’m turning red with embarrassment. Because without a software program that tracks open rates, click-throughs, responses, unsubscribes, and bounces, I had nothing to report. That’s when I took the plunge and researched various programs to find the one that offered the most and would integrate with our CRM system. Now I have ready answers to any questions my boss throws at me. I can easily justify the time I spend developing email campaigns. In short, I can measure the success of every campaign, from every imaginable angle. Now I’m happy and thankfully my boss is, too.
#2 – FOR OPTIMIZING SUCCESS
Now that I have a solution for tracking everything, not only can I report every statistic my boss would be interested in, I can also optimize my future campaigns based on what I learn from each email blast that goes out. I’ve learned, for example, that if I send out more than one email a month, the unsubscribe rate goes up. Obviously, that is not good.
I’ve conducted A/B tests on various subject lines and I can see which ones result in the best open rates. For example, does it work better if you provide details in your subject line, or is it better to use wording that leaves a level of mystery so that the viewer has to open it to find out exactly what it’s all about?
I can see that most people who open the email spend only seconds viewing it. So I want to put the registration or download link at or near the top of the email. Otherwise, these potential prospects will never get that far into the email.
When I’m mindful of these tips I get better open and click-through rates.
#3 – FOR AVOIDING FAILURE
The easiest way to avoid failure is not to repeat a mistake. What constitutes a mistake? That is simple. It is an email campaign that generated poor results. When you can track all the metrics, you know exactly which emails worked well and which did not. That’s how you avoid failure.
#4 – FOR IDENTIFYING GOOD PROSPECTS
How do you identify good prospects, the ones you should send over to your sales team. I have found that setting up a rating system is the best way to do that. Perhaps it goes without saying but I’ll say it anyway. You should develop that rating system with your sales team so that they can feel that they’re part of the process and they’re not getting and chasing leads that have no value.
What would such a rating system look like? It’s a point system. Let’s say that a prospect would garner one point each time he or she opens an email. Then perhaps two points for clicking through to your offer. Another two-point if they have also hit your company Web site. Then you reach an agreement with sales regarding how many points constitute a good lead, one that they would want to chase. Because although they haven’t emailed or called you, yet, it is clear that they have some level of interest in the products and services that you offer.
#5 – WHY NOT?
If you are using email as part of your overall marketing, why wouldn’t you want to track open rates, not to mention all the rest of the data that most tools provide? It’s an incredibly small investment compared to its value. Of course, some tools are better than others, so prices vary. But many providers offer a free 14-day trial, so there’s really no risk. That’s why I say: WHY NOT?
WANT TO CHAT AND FIND OUT MORE?
We’re happy to answer your questions and provide guidance. Visit us at Marketing Monarchs, email me at jon.rivers@marketingmonarchs.com, or call 617.256.6178.
Another blog I know you will find interesting The Facts About Resending an Email That Will Make You Think Again