Email Communications Strategy, Email ROI
Email’s remarkable return on investment has always been the key defence used by industry voices against suggestions that social media marketing or other channels have relegated email marketing to a dusty corner. A survey by the UK’s DMA and sponsor Alchemy Worx on the performance, value, and use of email marketing suggest attitudes are changing. Over 90% of respondents rated email marketing as strategically important or very important to their gallery and 37% said open rates improved across the previous 12 months, with only 17% reporting decreases, and 69% expected them to increase in the future. This trend reflects a similar report performed in the United States. And ROI is still very strong compared to other channels including social media marketing. The chart below shows how email dominates when marketers are asked which marketing tactic produces the best ROI for them.
Boost Your Email Marketing ROI by Focusing on Three Key Areas Email averages a return on investment (ROI) of $40 for every $1 spent, far outstripping banner ads ($2) and keyword ads ($17). So it’s no surprise that 67% of organizations plan to increase their email spend in 2012. You can push your gallery’s email marketing ROI higher by focusing on the following three areas, Deliverability, Behavior Targeting and Acquisition Emails.
Email Marketing Article by bizcommunity The global population of email users is expanding from 2.4 billion to 2.8 billion by 2017, because of that, email marketing is and should still be an important part of the (direct) marketer’s arsenal, and the numbers speak for themselves. In America alone, the number of email users continue to grow exponentially with each passing year and eMarketer projects that by 2017 there will be more than 240 million email users. Although email marketing may fall into the more ‘traditional’ method of marketing, analysts believe that it matters now more than ever due to the advent of smart watches and wearable computing devices – introducing new ways of accessing email. Email’s presence expanding through mobile devices therefore makes it relevant and impactful for art galleries and dealers, at least for the foreseeable future.
Marketing Equals Money by Marketing Land Open and click-through rates are common metrics used to evaluate the success of email campaigns. But we all know that for art galleries, revenue is what really matters. There are a number of important metrics to use when measure the amount of revenue you’ve generated from your email marketing. Overall Campaign Revenue, Return on Investment-Money you’ve made over what you put in, Return on Marketing Investment – which is your return over ONLY your marketing investment (Not including cost of product, manufacture etc.), Revenue per Email – Total revenue generated from a campaign over Total number of delivered emails, and Revenue From Email (Overall) – This is a comparison between your Email campaign revenue to the revenue your other marketing efforts have generated.
Dangers of Purchased Email Lists Sending mass emails can come back to bite you. The CAN-SPAM Act of 2003 allows marketers to send messages without the permission of the recipients. But just because spamming is often legal does not mean it is effective. Especially when purchasing a mailing list from a source that claims to hold thousands of email addresses relevant to your gallery could be the death of your credibility. Buying or renting a client list off the internet is usually a bad decision that will cost you more money than you will make. The answer? Build you own list. It takes longer than buying one, but it is guaranteed to provide better results. There are plenty of legitimate ways to build your list, including The Curator’s Eye.
Four Secrets to More Effective Email Marketing In this era of smart phones, status updates, texting, Tweeting and everything in between, there are more messages coming at us than ever before, making it tough to get a grip on what’s important and what’s just noise. E-mail in particular has come under fire for straddling the line between useful work/life tool and spam magnet. There is a huge amount of competition for attention among collectors but there are still some things you can do to stay relevant. Do no harm- don’t send out emails too often or send irrelevant emails. Engage- Get to know your audience and segment them by their likes and dislikes. Don’t treat e-mail as an island- Uses Email in tandem with your other marketing methods to build a lasting relationships.
Email Marketing Tips For Small Galleries Email marketing is a great way to reach your collectors where they are without spending a lot of money. But its a bigger responsibility than most people think. If you are thinking about starting a gallery newsletter, there are some important tips to keep in mind when you build your email marketing plan. Make sure your subscribers know exactly what to expect when they sign up. Send them a welcome email to confirm their email address. Design your emails to match your brand and keep them short and sweet.
Emails Collectors will Love There are over 294,000,000,000 emails sent each day. 294 BILLION. The average person receives 72 emails per day and spends up to 30% of their working day in their inbox. That’s a lot of competition. To give yourself the best chance of cutting through with your email marketing you need to send emails your collectors love. To do this you need to know your audience. Segment your audience and send different emails to each section. Utilize marketing automation to decrease the amount of time you are spending to manage this and send Emails from YOUR email address.
Email is Better Than Facebook or Twitter for Acquiring New Collectors When it comes to collector acquisition through direct-marketing channels, email has proven to be more effective than social-media sites like Facebook and Twitter. In a study performed by predictive analytics firm Custora, email marketing now accounts for 7.5% of all acquired collectors. Organic search results still mark the best way to acquire search results, making up 16% of all acquired customers, with Email marketing falling behind that. It is important note though is that email marketing is one of the only platform independent contact mediums. Everyone who has an internet connection, has an email address.
Email, another Marketing Medium that can come off the endangered list ExactTarget recently released the results of their 2012 Channel Preference Survey — an in-depth examination and ranking of the direct messaging channels preferred by consumers for particular types of marketing activity. The channels evaluated include email, direct mail, Facebook, Twitter and text messaging among others. Culled directly from the conclusion: “Email is the most-preferred channel for direct, one-to-one marketing communications with consumers.” This means that email, like it’s physical counterpart direct mail, is and always will be for that matter, an extremely effective marketing tool when its used correctly.
Email Marketing Study by entrepreneur.com When it comes to email marketing, you can craft the ideal subject line, creative copy and a great offer. But if you don’t have an extensive list of active email subscribers to send your message to no one will hear your offer. How do you expand your email list? You can include a “Sign Up For Our Email Newsletter” link on your site, and you can collect email addresses when someone creates an account or makes a purchase. But if you really want to build a larger list it might be time to reject many of the most common email marketing rules, such as never use a popup to collect email addresses, Always use a double opt-in, and never send an email without first getting explicit permission.
Is constant contact the best email marketing service Constant Contact is one of many email marketing services out there, others include MailChimp, JangoMail, and infusionsoft. Whether or not it is the best email marketing tool out there comes down to how your manage your email marketing campaigns: that means short and concise e-mail messages. No more than three or four items. Containing information that is useful to the recipients. If you’re an ancient art dealer then your e-mails should be all about ancient art and your inventory. If your a modern art gallery your emails should be about modern art. You don’t want to send sales messages. No splashy graphics. And definitely no attachments. Collectors will spend about ten-fifteen seconds max on your e-mail message so give me as much info as you think can be digested in that time.
How to Segment your Email list It is important to craft multiple emails to target the interests and activities of your recipients. This means making emails that seem more personal and less like an automated mass mailings. The best way to organize which emails get sent to which recipients is to segment your email list according to certain criteria. There are a few important steps to take when segmenting your list. Most importantly is make sure you are using email marketing software that allows you to send emails to different parts of your list. Then break down your list by a few popular criteria, Purchase History, Geography, “power Users” (Users who open and click on 70% of emails) etc. Lastly, Craft an email that is personalized for each segment of your list and track those results
Email is Crushing Twitter, Facebook for selling Stuff online In the modern age, no gallery can be taken seriously if it’s not on Facebook or Twitter. An endless stream of advice from marketing consultants warn businesses that they need to use social media marketing or risk becoming like galleries a century ago that didn’t think they needed telephones. Despite the hype surrounding facebook and twitter, however, it’s a relatively antique tech that appears to be far more important for selling stuff online. A new report from marketing data outfit Custora found that over the past four years, online retailers have quadrupled the rate of customers acquired through email to nearly 7 percent. This is important news because it means that Email marketing is much more effective for acquiring customers and making sales than facebook or twitter are.