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Almost 20% of email marketers in the US have no idea on the results of their campaigns as they are neglecting to track ROI, according to a new survey.
This echoes the findings of Econsultancy's recent Email Marketing Industry Census, which found that 42% of companies surveyed didn't know what kind of return they were getting from their email marketing efforts.
The eROI study looked at the use of email analytics for around 500 email marketers, and found that 18.06% were not tracking the results of their email campaigns, and therefore had no way of learning lessons in order to improve future campaigns.
These campaigns may have been a great success, but without accurate ROI measurement, making a case for future email marketing efforts or for further investment is virtually impossible to do.
Other highlights from the eROI study:
- Tracking of conversions is also an issue for some email marketers; around one in eight aren't tracking conversion rates. Time and budget restraints were among the excuses for this, but a quarter said they didn't know how to.
- Some email marketers are failing to share their email analytics with the relevant people in their organisations. While around 75% shared the results with executives, and 60% with corporate marketing departments.
The results are surprising, given the proven ROI that can be gained from email marketing. For respondents to our survey that were aware of the figures, 61% said that email delivers ROI of 300% or more, while 30% confessed to ROI of more than 500%.
Here are a few tips from the Econsultancy/Adestra Email Census on tracking ROI from email campaigns:
- Ask each customer how they found out about you.
- Invest in web analytics to track all orders back to where they began their web session from.
- If you use an email marketing provider, use one that can integrate with your website to track orders.
- Monitor other inbound channels (e.g. telephone) and use discount codes / special offers / unique phone numbers to label inquiries and orders.
- Allocate and invest time in analysing the performance of each campaign.