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A recent report by Penny Schneck, who is the Internet sales manager for the Retail Division of Reed Business Information, parent company to Home Accents Today, was brought to my attention via Playthings magazine (the trusted publication for the Toy Industry).
Her report indicates that the best marketing tactic to give you the best return on investment (ROI) is e-mail. It is the most efficient direct response method you can employ. She states the following in the report:
E-mail’s ROI index is 70% higher than any other direct-response marketing vehicle” — Direct Marketing Association, 2006
55% of survey respondents expect ROI from e-mail to be higher than any other channel” — Datran Media, 2008
E-mail marketing is traditional direct mail on steroids — it is fast, effective and inexpensive. Unlike traditional direct mail, there are no printing and postage costs. E-mail costs are literally pennies per address.
You can develop an e-mail campaign and get it out the door in virtually the same day. This makes it ideal when you want to take advantage of market opportunities, move product quickly or even test a campaign before implementing it across print and broadcast channels. With e-mail, you know in a matter of a few days how effective your campaign is vs. waiting weeks to evaluate a print mail campaign.
So to summurize, the key is to gather e-mail addresses by offering incentives to prospects that make it worthwhile for them to provide you with their contact information. Consider giving free information like a report on something you know will interest people, hold contests, provide coupons, or other special offers.
Advertising online at other Web sites and via electronic newsletters will help drive traffic to your webiste’s registration page. Make it clear that your privacy policy will not allow customers’ contact information to be revealed to anyone outside your company or group.
Ensure you communicate with your contacts and customers with new e-mail, offers and phase out non-responders vs. responders. This will keep your list current and generate sales and interest.
By customizing messages you will optimize response and interactivity with your clients and followers. The more impressions the better but do not overdue it to the point where the receiver feels they are being spammed.
The key is communication. It should drive the recipient to take action, to click to your web site or desired page. Design each message to resolve any objections, request and repeat actions and create a sense of urgency to do the action desired.
Never Spam as the Can-Spam Act is designed to ensure the you do not use false or misleading information, be it in your header, subject line or message text. Always give the recipient a way to opt out of receiving future e-mail and honor their request within 10 business days. Your message must include a valid mailing address for your company and identify the e-mail as an advertisement (if it so).
E-mail, when done right, can grow your customer database, build repeat business and increase customer loyalty and satisfaction. Make sure it is part of your marketing strategy.