How much extra income should I get from email?
There is no right answer, but we will try to answer it based on our experience. Does email marketing provide a lot of benefits? I can answer in one word, YES. And quite a lot.
According to global statistics, email marketing on average generates an additional 25-30% revenue, depending on the niche, product, and several other factors.
If you have one product and cannot sell it again, this percentage might be lower, and if your product is digital, courses, e-books, etc., this percentage might not even reach 20%.
BUT... Sometimes the numbers can exceed expectations when email marketing can generate up to 60-65% additional revenue. You say it's impossible?
I will share a project, the name of which I cannot disclose for confidentiality reasons. And the numbers speak for themselves. Just from automation flows, we managed to generate an average of 45% additional revenue per month.
According to global statistics, email marketing on average generates an additional 25-30% revenue, depending on the niche, product, and several other factors.
If you have one product and cannot sell it again, this percentage might be lower, and if your product is digital, courses, e-books, etc., this percentage might not even reach 20%.
BUT... Sometimes the numbers can exceed expectations when email marketing can generate up to 60-65% additional revenue. You say it's impossible?
I will share a project, the name of which I cannot disclose for confidentiality reasons. And the numbers speak for themselves. Just from automation flows, we managed to generate an average of 45% additional revenue per month.
Important things to note:
1. Opt in rate - Popup conversion should be about 10%. This is one of the most important factors, from where your buyer's journey in email marketing begins. A good offer, a tempting offer, a gamification, a mystique, I let your imagination run wild.
P.S. Everyone is offering a blank 10% discount, so be more creative.
2. Welcome flow - the most generating automation. Introduce the advantages of your brand, the product being advertised alone can be a bit annoying.
3. Abandonment checkout flow - It works like added to cart, but the advantage is that you can trigger entirely new buyers who came to the payment but did not buy, yet we already have the buyer's email, so an additional trigger, plus the buyer is already hot, just didn't purchase, maybe lacks info, might need help, you can offer a discount or even contact personally. Usually, we offer a 10% discount, and not from the first email.
4. Browse abandonment flow - the buyer is already familiar with your product, you have their contact, or they are a returning buyer or have been in the Welcome flow, what do you give to an indecisive buyer? A better discount, you can play around, not necessarily immediately, maybe from the second email, maybe from the first, test it, each brand is unique. But we recommend giving a 15% discount.
P.S. This method is a bit more aggressive, every automation has from 4 to 6 emails. It might not suit everyone, so you should consider the brand's tone and test.
I hope you found useful information, and if you have any questions, I will be happy to answer them in the Email Marketing Lithuania group.