FEATURED ARTICLE — June 24th, 2019
When it comes to marketing, regardless of whether it’s digital or traditional, the main goal is to maximize the return on your business investment, especially when you are a small business. Understanding ROI in your small business can indeed make a huge difference between success and failure. ROI is often a tool that helps small business owners measure their progress against predetermined goals as well.
There is no denying the fact that email marketing is an incredibly powerful tool. The average ROI for email marketing campaigns is $37 per each $1 spent, while the successful campaigns report an ROI of 42:1. However, like any other tool, email marketing ROI works well only when handled skilfully.
So, if you are new to the email marketing arena, here is a cheat sheet to help you out with buzzwords, acronyms, and most of all – ways to maximize ROI.
Everything’s About the ROI
If you are just getting started with trying to calculate email marketing ROI, you might be vaguely guessing that ROI means something similar to earning as much money as possible through the marketing campaigns you run.
Though it is technically correct, in order to put together a concrete definition, we could say that ROI is the income generated through all forms of marketing you use in your business.
One way to calculate email marketing ROI would be to use this formula: “ROI = (Income – Cost) / Cost”.
Nevertheless, even if your focus is on how ROI is measured, it is important that you learn how to effectively maximize your ROI. And, in order to do so, the basic knowledge about this calculation is all you require.
Social Media Marketing Vs. Email Marketing
Though social media marketing is presently on trend as well,...
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