WhatCounts.com: Find and Grow Your Email Marketing ROI
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This document discusses email marketing ROI and provides worksheets to calculate ROI. It notes that ROI is an important metric but should not be the only focus, as building an audience and moving contacts through the sales funnel is also important. It advocates using tools like Google Analytics to better understand how different marketing channels work together. The key messages are that ROI should be one metric among others, multi-channel attribution is needed to understand real impact, and the goal is to find and fix broken points in the sales funnel.
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WhatCounts.com: Find and Grow Your Email Marketing ROI
- 1. Find and Grow Your Email Marketing ROI Christopher S. Penn, Director of Inbound Marketing www.WhatCounts.com
- 2. Fair Warning
- 4. #wcroi
- 5. Find Grow
- 6. Find
- 8. Return on Investment
- 9. Earned - Spent = ROI Spent
- 10. ROI is a financial equation. Accept no substitutes.
- 11. Return on “influence” Return on conversation Return on engagement
- 12. 1,000 - 500 = 100% 500
- 13. 250 - 500 = -50% 500
- 14. Earned - Spent = ROI Spent
- 15. Marketers woefully undervalue time spent as money in ROI.
- 17. Annual Income =Hourly 2,080
- 18. Annual Income =Hourly 2,080 Hours x Rate = Time Spend in Money
- 19. $50,000 = $24.04 2,080 5 x $24.04 = $120.20
- 20. 1000 - 620.20 = 61.2% 620.20 100% ROI vs. 62% ROI
- 21. Worksheet 1 Money Earned: $_______ Money Spent: $_______ Hourly Rate: $_______ Time Spent: _______ Time Spent in Money: $_______ Total Spent: $_______ Total Earned-Total Spent _______% Total Spent
- 22. What? When? How?
- 26. ROI is really important when you need maximum results for tight resources.
- 27. ROI not as important!
- 28. ROI is not as important when you are making strategic choices for investment.
- 29. What? When? How?
- 30. Earned - Spent = ROI Spent
- 31. Worksheet 2 Method PPC Email Twitter Money Earned Money Spent Hourly Rate Time Spent Time as Money Total Spent Earned - Spent / Spent
- 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 Earned - Spent / Spent 61.24% 145.36% -22.00%
- 33. 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%
- 34. But wait!
- 37. Email Webinar PPC Ad Blog Post Sponsored Tweet Which caused the sale?
- 38. Old school single channel ROI is broken
- 39. o t he B ack t boa rd d raw ing
- 40. Income Margin Expense Net Profit Audience Volume Action
- 41. Income Product Margin Expense Operations Net Profit Audience Marketing Volume Action Sales
- 42. EPA
- 43. Earned - Spent Number of Actions
- 44. Worksheet 3 Money Earned: $_______ Money Spent: $_______ Hourly Rate: $_______ Time Spent: _______ Time Spent in Money: $_______ Total Spent: $_______ Total Earned-Total Spent _______ EPA Valuable Actions
- 45. So what?
- 48. Yes, but so what?
- 49. Last Touch Problem Solved Goo gle
- 50. One Phrase: MCF
- 51. Google Analytics Multichannel Funnels get us much closer to real ROI.
- 53. Email “closed” 179 interactions for $67,987 but helped 96 more for $36,796 Total Return: $104,783
- 55. Earned - Spent = ROI Spent
- 56. 104,783-3,300 3,300 = 3075%
- 57. The Big Picture of Internet Marketing ROI
- 58. Grow
- 59. ROI is good for making post-campaign keep or kill decisions.
- 60. ROI is not as good at helping you diagnose and fix campaigns now.
- 61. Sales
- 62. Qualified Leads Sales
- 63. Prequalified Leads Qualified Leads Sales
- 64. Interested Prospects Prequalified Leads Qualified Leads Sales
- 65. Active Audience Interested Prospects Prequalified Leads Qualified Leads Sales
- 66. Potential Audience Active Audience Interested Prospects Prequalified Leads Qualified Leads Sales
- 67. Potential Audience Active Audience Interested Prospects Prequalified Leads Qualified Leads Sales
- 68. Potential Audience 800 Active Audience 400 Interested Prospects 200 Prequalified Leads 100 Qualified Leads 50 Sales 25
- 69. Potential Audience 800 50% Active Audience 400 50% Interested Prospects 200 50% Prequalified Leads 100 50% Qualified Leads 50 50% Sales 25
- 70. Potential Audience 800 50% Active Audience 400 25% Interested Prospects 100 50% Prequalified Leads 50 50% Qualified Leads 25 50% Sales 12.5
- 71. Diagram out your sales and marketing KPIs and find the most broken step.
- 72. Potential Audience 800 50% Active Audience 400 25% Interested Prospects 100 50% Prequalified Leads 50 50% Qualified Leads 25 50% Sales 12.5
- 73. How can we use email to fix the broken step?
- 74. Active Audience 400 25% Interested Prospects 100
- 75. 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
- 76. Find out if your email even got to your list
- 77. 168
- 78. Move email up in the chain
- 79. 32,214 32,214 32,214 32,214 32,214 Audience 107 80 Content
- 80. Test the optimum combination of performance
- 81. 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 level Follow/Like socially penn.c asing Incre om) Visit a website
- 83. Any opportunity to be helpful is an opportunity to earn money. @chrisbrogan
- 84. Earned Spent Money
- 85. Find Grow
- 86. 866-804-0076 www.whatcounts.com @WhatCounts www.whatcounts.com/facebook www.whatcounts.com/linkedin www.whatcounts.com/gplus www.whatcounts.com/pinterest
- 88. Questions?