The good thing about using email marketing is that there are several easy and effective techniques you can use to measure your success.
E-mail Marketing
The great thing about e-mail marketing is that most e-mail marketing tools come with built in reporting features that allow you to measure the effectiveness of the campaign. Here are a few measurements you can track:
- E-mail open rate:
The percentage of recipients who read your e-mail. - E-mail click-thru rate:
The percentage of recipients who click on a link in your e-mail to visit a web page. - Inquiry rate:
The percentage of recipients who complete a form. - Opt out rates:
The percentage of recipients who ask to be removed from your mailing list.
***Real World Example***
One of our clients sent out an e-mail as part of their HaleyMail program that listed some of the top candidates they had available. They were amazed at the response they received. 23% of the 762 recipients opened the e-mail, and within a day of sending out the e-mail they received four job orders including one for a $135K position for their IT division! They have added a top candidates portion to their regular monthly newsletter.
If your using your website as a tool to generate more applications and sales leads (and, you should!), there are some effective techniques you can use to measure your success.
Website
Website ROI can be difficult to quantify. Very few if any clients will ever tell you that they are using your firm because of your website. However:
- Nearly 95% of prospects will check out your website BEFORE agreeing to a meeting with you.
- More than 90% of candidates will review a company’s website before applying for a job.
- One in four candidates will decide NOT to apply with a company because of their website.
While it may be difficult to ascertain the exact ROI from your website there are some measures that can be taken:
- Offer response – An offer with an online reply form is an effective way to measure client response.
- Job board – Measuring job applications from your job board will allow you to see how well you are engaging your candidates.
- Cost/candidate – Computing cost/candidate in relation to other mediums is an analytical way to measure your site.
- Retention and fall off rate – Google Analytics can tell you how long visitors stay on your site and how many pages they visit (Google Analytics can also be used to measure the effectiveness of any SEO initiatives that you enact).
In Conclusion
Remember, none of your sales and marketing efforts are done in a vacuum, so it can be difficult to come up with an exact ROI for many of your initiatives, but if you use the tools in my last 3 posts, you should be able to analyze the results of your campaigns more effectively!
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