Like many online enterprises, you probably have an email marketing strategy. It may be something that you have designed yourself, or you may employ a specialist email marketing service provider like Mailchimp.
If you are already onboard with Mailchimp through an email marketing agency, you are probably very satisfied with the performance of your email marketing. But if you are “a go-it aloner,” you may feel your strategy could be doing better. If you have any doubts, the best thing you can do is to figure out what your ROI (Return on Investment) is, and here’s how.
What is ROI?
ROI is a measurement that you use to evaluate how well your investment is performing in terms of efficiency. It measures how much money it is making for you as far as profit is concerned. This calculation is not just appropriate for email marketing campaigns; you can use it to indicate how any investment is performing.
Basically, the formula is the gain, less the money invested to cause that gain, divided by investment and then expressed as a percentage. On the face of it, it may sound simple, but the reality is not quite as straight forward. The reason is that email campaigns are versatile marketing strategies. They target not just one, but several goals. These include things like:
• Increasing awareness of your brand
• Nurturing new leads
• Improving sales performance
• Increasing revenue
• Attracting traffic to your website
Once you have specified the target areas of your email marketing campaigns, you can then set about more accurately figuring out your ROI as you will know which metrics to track.
Maximising your valuable time
Most online business owners do not have the time to spend on evaluating the performance of their marketing strategies. Even though it is quite important. But if you use Mailchimp services through a good email marketing agency, your Mailchimp partner can do the legwork for you.
Let MailNinja do the donkeywork
The success of your email marketing campaigns will determine the success of your business. Leave nothing to chance. If you make us here at MailNinja your Mailchimp partner we will not only help you to maximise the efficiency of your marketing strategies, we will also keep you fully up to date with the ROI your campaigns are making for you. Why not get in touch with us today?