WhatCounts.com: Find and Grow Your Email Marketing ROI
88
Find and Grow Your Email Marketing ROI Christopher S. Penn, Director of Inbound Marketing www.WhatCounts.com
-
Upload
christopher-penn -
Category
Business
-
view
1.247 -
download
0
description
Transcript of WhatCounts.com: Find and Grow Your Email Marketing ROI
Find and Grow Your Email Marketing ROI
Christopher S. Penn, Director of Inbound Marketingwww.WhatCounts.com
Fair Warning
http://www.whatcounts.com/pinterest
#wcroi
Find Grow
Find
What?When?How?
Returnon
Investment
Earned - SpentSpent
= ROI
ROI is a financial equation.Accept no substitutes.
Return on “influence”Return on conversationReturn on engagement
1,000 - 500500
= 100%
250 - 500500
= -50%
Earned - SpentSpent
= ROI
Marketers woefully undervalue time spent as money in ROI.
Annual Income2,080
=Hourly
Annual Income2,080
=Hourly
Hours x Rate = Time
Spend in Money
$50,0002,080
= $24.04
5 x $24.04 = $120.20
1000 - 620.20620.20
= 61.2%
100% ROI vs. 62% ROI
Money Earned:Money Spent:
Hourly Rate:Time Spent:
Time Spent in Money:
Total Spent:
Total Earned-Total SpentTotal Spent
$_______$_______
$_______ _______$_______
$_______
_______%
Worksheet 1
What?When?How?
ROI is not everything
Audience
Prospects
Leads
Customers
Evangelists
ROI really important!
ROI is really important when you need maximum results for tight resources.
ROI not as important!
ROI is not as important when you are making strategic choices for investment.
What?When?How?
Earned - SpentSpent
= ROI
Worksheet 2
Method PPC Email Twitter
Money Earned
Money Spent
Hourly Rate
Time Spent
Time as Money
Total Spent
Earned - Spent / Spent
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%
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%
But wait!
Last Touch Problem
Webinar
Tweet
PPC Ad
Blog Post
Sponsored
Which caused the sale?
Old school single channel ROI is broken
Back to the
drawing board
Net Profit
Margin
Volume
Income
Expense
Audience
Action
Net Profit
Margin
Volume
Income
Expense
Audience
Action
Product
Operations
Marketing
Sales
EPA
Earned - SpentNumber of Actions
Money Earned:Money Spent:
Hourly Rate:Time Spent:
Time Spent in Money:
Total Spent:
Total Earned-Total SpentValuable Actions
$_______$_______
$_______ _______$_______
$_______
_______ EPA
Worksheet 3
So what?
Yes, but so what?
Last Touch Problem Solved
MCFOne Phrase:
Google Analytics Multichannel Funnels get us much closer to real ROI.
Multichannel Revenue
Email “closed” 179 interactions for $67,987 but helped 96 more for $36,796
Total Return: $104,783
Find email dependencies
Earned - SpentSpent
= ROI
104,783-3,3003,300 = 3075%
The Big Picture ofInternet Marketing ROI
Grow
ROI is good for making post-campaign keep or kill decisions.
ROI is not as good at helping you diagnose and fix campaigns now.
Sales
Sales
Qualified Leads
Sales
Qualified Leads
Prequalified Leads
Sales
Qualified Leads
Prequalified Leads
Interested Prospects
Sales
Qualified Leads
Prequalified Leads
Interested Prospects
Active Audience
Sales
Qualified Leads
Prequalified Leads
Interested Prospects
Active Audience
Potential Audience
Sales
Qualified Leads
Prequalified Leads
Interested Prospects
Active Audience
Potential Audience
Sales
Qualified Leads
Prequalified Leads
Interested Prospects
Active Audience
Potential Audience
50
100
200
400
800
25
Sales
Qualified Leads
Prequalified Leads
Interested Prospects
Active Audience
Potential Audience
50
100
200
400
800
25
50%
50%
50%
50%
50%
Sales
Qualified Leads
Prequalified Leads
Interested Prospects
Active Audience
Potential Audience
25
50
100
400
800
12.5
50%
50%
50%
25%
50%
Diagram out your sales and marketing KPIs and find the most broken step.
Sales
Qualified Leads
Prequalified Leads
Interested Prospects
Active Audience
Potential Audience
25
50
100
400
800
12.5
50%
50%
50%
25%
50%
How can we use email to fix the broken step?
Interested Prospects
Active Audience
100
400
25%
Sales
Qualified Leads
Prequalified Leads
Interested Prospects
Active Audience
Potential Audience
37.5
75
150
400
800
18.75
50%
50%
50%
37.5%
50%
Find out if your email even got to your list
168
Move email up in the chain
80
32,21432,214
32,21432,214
32,214
107
Audience
Content
Test the optimum combination of performance
Visit a website
Follow/Like socially
Subscribe to blog
Subscribe to email
Download eBook
Attend webinar
Incr
easi
ng le
vel o
f com
mitm
ent o
r effo
rt o
n cu
stom
er’s
par
t >>
The Ladder of Comm
itment (christopherspenn.com
)
Buy something
Affiliate marketing
Any opportunity to be helpful is an
opportunity to earn money. @chrisbrogan
Earned
Spent
Money
Find Grow
866-804-0076www.whatcounts.com
@WhatCountswww.whatcounts.com/facebookwww.whatcounts.com/linkedin
www.whatcounts.com/gpluswww.whatcounts.com/pinterest
Questions?
