Email marketing may seem like it is outdated, however the statistics show that it still works. What has changed is the way marketing campaigns are communicated and analyzed so as to measure the true impact and to seek ways to improve. A thorough analysis must review goals, objectives, budget and a gauge that will measure acceptable results.
Once these objectives have been met, marketers must ask themselves why they use email marketing and what they hope to attain from it.
Below we provide three different types of email marketing analysis that should become standard practice in order to achieve true measurement of your user’s response to your campaigns.
Email Marketing Analysis
1. Response segmentation analysis
This type of analysis does not require dividing your lists into segments before implementing a campaign. In your database you can develop a detailed profile of who the subscribers are. This type of analysis can also create response profiles, such as: open, click and conversion.
You should never halt your analysis while in between campaigns. Use it for campaigns deployed quarterly, semiannually and annually.
Once you have obtained your data, you can use this information to better understand how demographic or geographic differences affect your response; improve targeting and segmentation in future campaigns; vary the type of deals to improve response in less active segments, or develop and test different frequencies to different segments.
2. Analysis of commitment from email subscribers
Having a performance report for each message sent via email is of utmost importance, but you should also know how individuals in your subscriber list behave in response to your emails over longer periods of time.
This type of analysis is based on the measurement of accumulated actions by the consumer who responds over a defined period. This analysis will allow you to discover the most active and less active segments, and is more concerned with measuring the full scope and effectiveness of email marketing to your list.
The information gained can be used to provide incentives, increase less active responses, or identify weak list segments that do not respond to reactivation campaigns. They can also be used to suppress or to create a program “premium” to improve the response and provide rewards with exclusive offers, select content or other special treatment.
3. Analysis of the contribution channel
This analysis seeks to determine economic impact, but makes no reference to direct sales revenue. Instead it identifies potential customers, new subscriptions or social network connections. It can also measure cost savings, such as determining greater efficiency of email marketing over other, likely more expensive, marketing channels, i.e., direct mail.
This analysis allows you to determine the return on investment (ROI), determine the average response/order value (AOV), calculate income and calculate the email’s value.