Blog post By Paula Chiocchi on 2019-11-20
In today’s era of easy information access and instant data analytics, many B2B marketers feel pressured to report on email campaign performance almost immediately after launch. But in our experience at OMI, where ROI and business outcomes drive everything we do for clients, we prefer to take the long view and give measurement and reporting a little more time in order for it to fully mature.
A new report by LinkedIn aligns with our approach. In analyzing the ROI from more than 4,000 digital marketers, it found that they are, essentially measuring ROI too quickly and expecting too much too soon. More than three out of four (77%) measure ROI within the first month of a campaign, which is far shorter than the time needed for the full sales cycle to be completed – and when the ROI analysis should actually take place. In fact, over half (52%) of those who measure ROI in less than a month had a sales cycle that was actually three months or longer. Very few (4%) measure ROI over a six-month period or longer, a timeline more in synch with average B2B sales cycles.
If you’re feeling the pressure to report ROI figures too soon, here are five strategies that you might find useful as you work to buy more time:
It’s also important to remember that while you are monitoring the KPIs, you still have the opportunity to optimize your campaign as you go. Oftentimes, that means looking for outliers such as an extremely high or low open rate. By changing a subject line, eliminating poor-performing data segments, or by making simple content alterations you can easily course correct.
When it comes to measuring email ROI, marketers and other business leaders need to think for the long-term and have a bigger-picture perspective. B2B email campaigns usually involve several messages before recipients take action, not to mention a longer, more complex sales cycle that may take months to yield revenue.
Outward Media’s proven data cleansing services and targeted, accurate email data can enable you to achieve better email marketing ROI and, ultimately, convert more prospects into customers. Take a look at our case studies to find out more.
At OMI, we believe good things happen when you share your knowledge. That's why we're proud to educate marketers at every level - in every size and type of organization - about the basics of email marketing and the contact data that powers it.