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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?