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WhatCounts.com: Find and Grow Your Email Marketing ROI

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WhatCounts.com: Find and Grow Your Email Marketing ROI

  1. 1. Find and Grow Your Email Marketing ROIChristopher S. Penn, Director of Inbound Marketing www.WhatCounts.com
  2. 2. Fair Warning
  3. 3. http://www.whatcounts.com/pinterest
  4. 4. #wcroi
  5. 5. Find Grow
  6. 6. Find
  7. 7. What?When?How?
  8. 8. Return onInvestment
  9. 9. Earned - Spent = ROI Spent
  10. 10. ROI is a financial equation. Accept no substitutes.
  11. 11. Return on “influence”Return on conversationReturn on engagement
  12. 12. 1,000 - 500 = 100% 500
  13. 13. 250 - 500 = -50% 500
  14. 14. Earned - Spent = ROI Spent
  15. 15. Marketers woefully undervalue time spent as money in ROI.
  16. 16. Annual Income =Hourly 2,080
  17. 17. Annual Income =Hourly 2,080Hours x Rate = Time Spend in Money
  18. 18. $50,000 = $24.04 2,0805 x $24.04 = $120.20
  19. 19. 1000 - 620.20 = 61.2% 620.20100% ROI vs. 62% ROI
  20. 20. Worksheet 1 Money Earned: $_______ Money Spent: $_______ Hourly Rate: $_______ Time Spent: _______ Time Spent in Money: $_______ Total Spent: $_______ Total Earned-Total Spent _______% Total Spent
  21. 21. What?When?How?
  22. 22. ROI is noteverything
  23. 23. AudienceProspects LeadsCustomersEvangelists
  24. 24. ROI really important!
  25. 25. ROI is really important when you needmaximum results for tight resources.
  26. 26. ROI not as important!
  27. 27. ROI is not as important when you aremaking strategic choices for investment.
  28. 28. What?When?How?
  29. 29. Earned - Spent = ROI Spent
  30. 30. Worksheet 2 Method PPC Email Twitter Money Earned Money Spent Hourly Rate Time Spent Time as Money Total SpentEarned - Spent / Spent
  31. 31. Worksheet 2 Example Method PPC Email Twitter Money Earned $1,000.00 $12,563.00 $750.00 Money Spent $500.00 $5,000.00 $0.00 Hourly Rate $24.04 $24.04 $24.04 Time Spent 5 5 40 Time as Money $120.20 $120.20 $961.60 Total Spent $620.20 $5,120.20 $961.60Earned - Spent / Spent 61.24% 145.36% -22.00%
  32. 32. Worksheet 2 Example Method PPC Email Twitter Money Earned $1,000.00 $12,563.00 $750.00 Money Spent $500.00 $5,000.00 $0.00 Hourly Rate $24.04 $24.04 $24.04 Time Spent 5 5 40 Time as Money $120.20 $120.20 $961.60 Total Spent $620.20 $5,120.20 $961.60 ROI 61.24% 145.36% -22.00%
  33. 33. But wait!
  34. 34. Last Touch Problem
  35. 35. EmailWebinar PPC Ad Blog Post Sponsored Tweet Which caused the sale?
  36. 36. Old school single channel ROI is broken
  37. 37. o t heB ack t boa rdd raw ing
  38. 38. Income Margin ExpenseNet Profit Audience Volume Action
  39. 39. Income Product Margin Expense OperationsNet Profit Audience Marketing Volume Action Sales
  40. 40. EPA
  41. 41. Earned - SpentNumber of Actions
  42. 42. Worksheet 3 Money Earned: $_______ Money Spent: $_______ Hourly Rate: $_______ Time Spent: _______ Time Spent in Money: $_______ Total Spent: $_______ Total Earned-Total Spent _______ EPA Valuable Actions
  43. 43. So what?
  44. 44. Yes, but so what?
  45. 45. Last Touch Problem SolvedGoo gle
  46. 46. One Phrase:MCF
  47. 47. Google Analytics Multichannel Funnels get us much closer to real ROI.
  48. 48. Multichannel Revenue
  49. 49. Email “closed” 179 interactions for $67,987 but helped 96 more for $36,796 Total Return: $104,783
  50. 50. Find email dependencies
  51. 51. Earned - Spent = ROI Spent
  52. 52. 104,783-3,300 3,300 = 3075%
  53. 53. The Big Picture ofInternet Marketing ROI
  54. 54. Grow
  55. 55. ROI is good for making post-campaign keep or kill decisions.
  56. 56. ROI is not as good at helping youdiagnose and fix campaigns now.
  57. 57. Sales
  58. 58. Qualified Leads Sales
  59. 59. Prequalified Leads Qualified Leads Sales
  60. 60. Interested ProspectsPrequalified Leads Qualified Leads Sales
  61. 61. Active AudienceInterested ProspectsPrequalified Leads Qualified Leads Sales
  62. 62. Potential Audience Active AudienceInterested ProspectsPrequalified Leads Qualified Leads Sales
  63. 63. Potential Audience Active Audience Interested Prospects Prequalified Leads Qualified Leads Sales
  64. 64. Potential Audience 800 Active Audience 400 Interested Prospects 200 Prequalified Leads 100 Qualified Leads 50 Sales 25
  65. 65. Potential Audience 800 50% Active Audience 400 50% Interested Prospects 200 50% Prequalified Leads 100 50% Qualified Leads 50 50% Sales 25
  66. 66. Potential Audience 800 50% Active Audience 400 25% Interested Prospects 100 50% Prequalified Leads 50 50% Qualified Leads 25 50% Sales 12.5
  67. 67. Diagram out your sales and marketing KPIs and find the most broken step.
  68. 68. Potential Audience 800 50% Active Audience 400 25% Interested Prospects 100 50% Prequalified Leads 50 50% Qualified Leads 25 50% Sales 12.5
  69. 69. How can we use email to fix the broken step?
  70. 70. Active Audience 400 25%Interested Prospects 100
  71. 71. Potential Audience 800 50% Active Audience 400 37.5% Interested Prospects 150 50% Prequalified Leads 75 50% Qualified Leads 37.5 50% Sales 18.75
  72. 72. Find out if your email even got to your list
  73. 73. 168
  74. 74. Move email up in the chain
  75. 75. 32,21432,214 32,214 32,214 32,214 Audience 107 80 Content
  76. 76. Test the optimum combination of performance
  77. 77. Buy something >> part Attend webinar er’s m usto The La Subscribe to blog on c dder o ffort f t or e Comm Subscribe to email tmen itment mmi (christ Download eBook of co ophers levelFollow/Like socially penn.c asing Incre om) Visit a website
  78. 78. Affiliate marketing
  79. 79. Any opportunity to be helpful is an opportunity to earnmoney. @chrisbrogan
  80. 80. EarnedSpent Money
  81. 81. Find Grow
  82. 82. 866-804-0076 www.whatcounts.com @WhatCountswww.whatcounts.com/facebookwww.whatcounts.com/linkedin www.whatcounts.com/gpluswww.whatcounts.com/pinterest
  83. 83. www.whatcounts.com/newbook
  84. 84. Questions?

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