If you’ve been hanging around marketing blogs long enough, you probably know that open and conversion rates of email marketing campaigns can be different based on your involved industry. But there’s no doubt that email marketing offers the highest and relatively quickest ROI out of all digital market channels.
It might look simple at first – especially when you break it down:
- Design an email
- Use any marketing CRM to send emails
- Track data (open rate, clicks, conversions, new subscribers, unsubscribed ratio and more)
But you know what? It’s not as easy as it seems, email marketing is like a branch of contemporary science with its own process and setup. Every strategy has clear impact on numbers and statistics that reflect on optimum possibilities for companies in their niche. There’s always room for improvement, and effective marketing can have a direct impact on conversions.
Are you looking to improve email marketing ROI? If yes, then you have to be ready to throw yourself into understanding the process and strategies that lead to optimization.
Tracking the right data is important
To optimize email marketing campaigns, you MUST track the right data. You could either use dedicated email marketing software like Mail Chimp, or a complete marketing CRM like Agile CRM. Both should be able to give you the following numbers against email marketing campaigns that you run:
- Open Rate
- Click Ratio
- Conversion Rate
- New Subscribers
- Unsubscribe %
There are other types of data to be considered too, but the categories above will keep you focused on optimizing campaigns and increasing your website’s conversion rate. These can help reduce the amount of unsubscribes, increase new subscribers and ratio of clicks from email which are sure signs of increased conversions in marketing campaigns!
Anything is possible as long as you follow a step by step process. So let’s get to the first step known as ‘open rate’.
What is Open Rate?
This is how an email open rate should be calculated, sadly this isn’t taught at schools. If you send 10,000 emails and 500 emails bounced but 2,350 people open the email, the open rate of the email will be 24.73.
Note: Numbers given above are just imaginary in order to simplify the formula. Use your own numbers and test the formula!
Open rate has a direct impact on click and conversions so if we find a way to increase open rate subsequently overall conversion rate will increase (in most cases).
How to increase open rate of the email marketing campaign?
There are a few ways to increase open rate of your email marketing campaign but I won’t bore you with information that’s already on the internet. Instead, I’d rather choose ways that have been successful with my clients.
1. Catchy Subject Line
Blogger outreach taught me this, a shout out to all the catchy blogs I’ve ever come across in the early stage of my career. If your subject line is catchy and grabs the recipient’s attention, they’ll probably anticipate whether the content of email will interest them.
The subject line needs to be straight forward and brief. If it’s personalized there is a higher chance of the email being viewed hence the open rate will increase.
You know what I love about LinkedIn? They use the recipient’s name in the subject line every time someone sends an “add request”.
People don’t always read their emails; they usually scan the inbox and judge the subject lines. So make sure you put some glitter to that subject line!
2. Send emails as human, not as company
Another very important point! Never send an email with the company name or the rate of ignorance will be high (unless your company is a brand that recipients love). Here are two main reasons why human name works better than company/brand names.
In almost all cases, you aren’t the only one in the inbox. If there are lots of other emails the recipient will prefer to open an email that looks different or important. So if you use a ‘name’ instead of company brand you might catch their eye.
Customer behavior has evolved; they prefer talking to a representative that has a name instead of talking to the company in general. Using a name has a personalized and relatable touch to it.
If your company incorporates someone who is famous within the niche or target audience, try using that name because this will dramatically increase the open rate.
One reason why it’s almost impossible to ignore Sujan’s email is because he is a well-known authority in the industry and his email includes the name!
3. Timing is important
I found this infographic on targetedvictory.com. This graph depicts how open rate can be changed depending upon what hour of the day the recipient is receiving the email.
I strongly believe that open rates are dependent on time and industry.
This chart just goes an extra mile to justify that timing does make a difference on the open rate. So send different emails at different times of the day and judge the open rate accordingly. Then set your email marketing campaign for that particular hour of the day.
SmartInsight.com sends emails when I’m done with lunch and ready to pump up my motivation by reading something valuable.
4. Mobile friendly emails and subject lines
Mobile is the first screen and according to few surveys roughly 74 percent of the smart phone owners use their phones to check emails. If your emails are not mobile friendly, chances of conversion will be low. People use their mobile phones in everyday life, so make sure your emails are friendly in this format too.
Even with mobile phones you need to take the subject line into consideration.
You have 3 to 5 words of space if the recipient holds phone vertically while checking the email. So make those 3 to 5 words interesting enough to make them click and open the email. If you can’t do this, then the open rate could drop.
Have you tested any of these above given points? Did they work for you? Share your thoughts in the comment section.