These days, most people grab their smartphones and swipe through emails first thing in the morning. Checking emails constantly throughout the day has become a reality and has presented automotive dealers and OEM's with an opportunity to improve their businesses. Email marketing has been honed as an effective targeting tool and offers valuable insights about consumers that guarantee a stronger ROI. Here are the facts:
Growth of the medium
- Just under 3 billion people use email today
- 86% of business professionals prefer communicating via email
- 86% of consumers want to receive promotional emails from companies they do business with
- Three quarters of businesses claim email delivers "excellent" to "good" ROI
- According to Harvard Business Review, direct email marketing produces a higher response and order rate compared to standard email
- Consumer behavior derived from email marketing can be utilized to send the right message at the perfect time
- This means finding the people who are ready to buy and getting them into the showroom
In order to determine the effectiveness and success of a targeted email marketing campaign, you must look at the metrics. Some of the most basic include:
- Open rate
- Click-through rate
- Orders placed
- Webpage views
- Online appointments scheduled
The insight gained from tracking these metrics is extremely valuable for fine-tuning marketing efforts and identifying new opportunities. Services like Google Analytics track every step of the consumer's buying process.
Email cost vs. value
Understanding email data and consumer behavior will allow for better segmentation of consumers who can then be effectively targeted. Email is cheap when compared to other advertising outlets like print and media. An added bonus is that email campaigns can be cheaply changed and customized based on consumer response. With regard to ROI, email outperforms other marketing channels with one statistic citing $44.25 for every dollar spent. Ultimately, marketing efforts are about receiving the best return on your investment and email is invaluable in this regard. While the cost of sorting through and interpreting all the data gleaned from email marketing is not negligible, the profits gained more than make up for the price.
Services like ePush take an extra step and help you understand consumer behavior by evaluating consumer response to email marketing campaigns. Targeted emailing is a great way to reach the consumer at a personal and individual level. Emails are most effectively used as part of a multi-channel approach in a marketing campaign in order to expand customer reach and frequency, making your business effective, efficient, and profitable.
Learn how to lock in your email pricing at an unprecedented value for 2018.