Cost effectiveness of email marketing
£1,800 for 19,000 emails. That’s 10.5p per email. But the average open rate is only 15%, so out of those 19,000 we can only expect 2850 emails to be seen. That takes our cost-per-email up to £6.66. If we assume that 10% of the people who see the email might actually want to buy the item advertised, that takes our cost per email up to £64.28. And if 10% of those interested enough in the product to click on the link and view it on the website do actually buy, that takes the cost-per-email to £600. And we’ve sold three items.
B2B Email Marketing
Considering using Thompsonlocal for some targetted B2B email marketing to sell a particular product to a particular type of business. They haven’t got back to me with numbers and costs yet but once I have all the figures I can do a cost analysis to a) work out how many units we’d have to sell to see a good ROI and b) see if its worth doing.