Email marketing is still absolutely huge for business. Some people predicted that social media would take over, but the truth is that email is still as strong as ever, and with over 4 billion active email accounts in the world, the potential market you can reach with an email newsletter or another marketing campaign can be massive. In this article, we’re looking at having the correct email address details, and how this can provide a seed for converting an email list into customers or creating buzz and engagement.
Did you know that one 2018 study found that every $1 spent on email marketing, yielded an average return on investment of $32? However, if you are marketing to incorrect or inactive email addresses then all of these benefits are irrelevant.
What is an email conversion?
It is important to define email conversion before understanding more, and there is often some debate when it comes to defining conversions as it can vary. The simplest way to look at it is what percentage of email accounts you send an email to end up in someone completing the desired action.
This term “desired action” is where some confusion can come in. For many, the desired action will be turning your email subscriber into a customer. This conversion will lead to the customer clicking through to your website and making an order. However, there are other desired actions. For instance, you may want users to sign up to a different list, visit a specific article or engage with an advertiser in some way.
Though the action can change, the conversion rate is always worked out as a percentage of email addresses marketed to which result in the action you’re hoping for when email marketing.
Other statistics play a part in this equation. Mailing list providers should be able to show you things like the open rate, which refers to how many of the people the email is sent to open the email. Some will also show a delivery receipt percentage, to show how many landed in a real email account and where seen, even if not opened. Conversions are always the end goal, but that’s not to say there aren’t other factors playing a part and stats to understand.
The Value of Email Addresses
If we follow the study that says that each $1 spent on email marketing has the potential to bring back a return of $32 then it is easy to see why the emails you have collected are so important, and what a useful tool they can be in growing your business.
Mailing lists have a value, and there is even a whole advertising industry based around email accounts. People may pay to have their own product mentioned within your newsletter, for instance.
If you have been collecting email addresses in wise ways then you will have ended up with a list of hot leads and engaged customers and potential customers, rather than simply random people who you can contact in the blind hope of them being interested. For a business, the real value of an email list is not in the number of email addresses, but the people who see and care about the emails that are sent.
It is amazing how many incorrect email addresses end up on mailing lists. If you have ever collected emails without any sort of email address verification then you will know that it is really easy to end up with fake or simply incorrect email addresses. For example, if you are running a free giveaway on your sites, such as a free download or coupon, people may enter an incorrect email address to get the benefits of the promotion but still not give away their email address. Alternatively, they may give an old, inactive email address. Even if people do wish to give you their email address, there is always the chance of errors and typos getting in the way.
Email validation is a great way to make sure that your email marketing campaign reaches as many eyeballs as possible, and that the email accounts you have collected are real and active. This process can ensure that you reach people and that the statistics you have on your email marketing aren’t skewed. If your mailing list has 20% fake email accounts, you will probably still be spending time and money sending emails to them, but there is never a chance they will be seen or opened, let alone convert into customers. This can make your stats skewed and inaccurate.
Validating email addresses in real-time might sound like a difficult thing to do, but it doesn’t have to be. There are plugins and services available which can very smartly verify and validate. While some people go for double opt-in (meaning that people will get an email and then have to confirm they have received it) there are smarter ways to do this. Real-time verification can scan the internet, ISPs, and lists of emails provided by things like social networks to check that the email account which has been entered is in regular use. This way, by the time the signup process is complete, you will know whether the provided email account is legitimate or not.
The process of getting the right email addresses and conversion is simple.
Correct email address -> emails are delivered to the valid recipient
Having the right email addresses on your list rather than fake or incorrect ones means that your emails will reach the intended recipient and land in their inbox. If there were a typo when your customer entered their email address, you’ve lost the chance of contacting them with your latest offer.
Email is delivered clicked-> it will be clicked and so higher open rate
If the emails find the right recipients, then there is a higher chance of them being opened. The more clicks and opens you get, the better. An open rate can appear lower if a lot of the emails are not even going to anyone’s inbox.
High open rate-> more sales
A higher open rate means that the email marketing campaigns you are running will have so much more impact. The content you’ve written for your emails is likely designed to convert. Once you have got people opening and reading their emails, you have the chance to sell to them and create the chance of them completing the desired action, whether this is buying something from your website or simply reading an article you have written.
More sales-> higher ROI
If you drive sales via these email addresses, the return on investment will significantly go up. Any statistics recorded on what percentage of email recipients end up making a purchase are far more likely. The fact that unverified and inactive email accounts are no longer taken into consideration when it comes to calculations on stats means that a higher percentage will be taking action, and this means a higher return on investment. This is certainly more appealing if you are using your email list for marketing purposes for yourself, but also for other companies who may wish to advertise with you.
Email marketing can have a fantastic ROI for businesses. If you’re wondering why your list isn’t converting as highly, it could be the actual quality of the email addresses on your list, and if they haven’t been verified then there is every chance that a percentage of them are useless. Being able to bulk check which of the email addresses are useful is extremely advantageous and can increase the return of your email marketing campaign, and ensure you are working with realistic and accurate statistics.