Volume 3, Issue 12 - December, 2013
By Nehal Patel, Account Manager, Visual IQ
Despite the widespread use of email, quantifying its impact is still perplexing for many marketers. Most often, the value of email is determined by opens and clicks. However, if an email influences a prospective customer to later search for and make a purchase, shouldn’t it be considered a success and be given some of the credit?
Just because a consumer saw an email in their inbox but didn’t open or click it doesn’t mean it wasn’t influential in terms of building awareness and consideration. Taking email beyond opens and clicks to understanding its true value means you need visibility into the impact that email has on other marketing channels and on the success of your overall marketing mix.
Uncovering Email’s Hidden Power
A recent study published by the Direct Marketing Association (DMA) illustrates the value of email beyond the click, uncovering that email marketing can be a powerful tool in your marketing arsenal. The study, conducted over an 11-month period, compared average daily revenue from all marketing channels on days when emails were sent, to average daily revenue from all marketing channels on days on which no emails were sent. If email didn’t influence (or wasn’t influenced by) other marketing channels, the average daily revenue would be the same. However, the study showed an average revenue increase of 21.5% on days with email.
Avoid Overlooking & Undervaluing
So how can you make sure email gets the true credit it deserves? Advanced attribution can provide you with insight not only into how your email campaigns have historically performed individually, but also their ROI efficacy in relation to other online channels, such as search and display, and even offline channels such as television and print. Here are a few important practices to follow when putting attribution to work for your email campaigns:
For more successful email marketing, it’s time to move away from flawed metrics like opens and clicks. With advanced attribution, you benefit from actionable insights that not only maximize the effectiveness of your email marketing programs, but your overall marketing mix.
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