I can imagine your answer to the question above is a resounding ‘yes’, but before you ask me to write you a cheque let me explain how you can achieve this for yourself. Tracking return on investment (ROI) is a great way for you to ensure that your marketing activities are improving your profit margins. While big corporations might have the time, money and resource to experiment with marketing strategies to identify the most effective marketing methods, it’s also important for SMEs to have a clearly defined strategy that’s going to pay dividends from day one. That’s where email marketing comes in.
At the start of 2013 the Direct Marketing Association (DMA) published a report about email marketing and how companies benefited by using it throughout 2012. They found that for every £1 spent on email marketing in the UK the ROI was a whopping £21.48! That’s quite an outstanding return for a marketing method which is so easily accessible to small businesses these days. The DMA report outlined that of the companies surveyed “nine in 10 (89%)” declared email marketing to be “important” or “very important” to their organisation.
The key here is not to underestimate the power an email campaign can hold, but also the work that you need to put in to get the return from your investment. An approach often employed by companies is to simply send an email campaign to their whole mailing list containing generic content. This generally results in a campaign that is as ineffective as not sending anything at all. It’s easy to treat email marketing as an afterthought; simply as a means of boosting the effectiveness of your other marketing efforts, but the power of carefully considered campaigns shouldn’t be undervalued. Investing hard work to get your campaigns up-to-scratch will pay dividends, time and time again. Once you’ve got some engaging email content being sent to your subscribers you can start tracking your ROI directly from within your Sign-Up.to account.
Measuring ROI can be a tough one, and accurate ROI measurements have previously been hard to come by. This is especially the case for SMEs, where time, money and resources for measuring marketing activities could be infrequently available. Sign-Up.to accounts provide a wealth of digestable reports to help you easily track ROI and progress on marketing goals, allowing you to benefit from seeing how your email marketing campaigns are performing. We have a range of email analysis reports built into the Sign-Up.to platform, from the ability to track your campaign performance against our other clients in the same industry as you (giving you a great insight into whether your campaigns are performing against your competitors) to tracking how your campaigns perform at certain times of day or which weeks are more popular. Most importantly, however, is the Goal Tracking report which allows you to track the monetary return from each of your campaigns.
One of the great things about the Sign-Up.to platform is the instant, in-depth nature of the reporting options available to email marketers, and what’s more, all of these tools are included in every single Sign-Up.to account at no extra cost. This makes it really easy to try different approaches and identify the most effective methods. The key thing is that it allows you to test your content and marketing strategy to determine when something has been a success and whether your campaigns should continue along the same vein. If you don’t already use Sign-Up.to for your email marketing, why not open a free account and take a look at the analysis tools for yourself? We’ll even put 1,000 free email credits in your account to get you started. It only takes 30 seconds and it could be the best business decision you ever make.