I’ve also posted this to r/marketing for feedback, but I value the advice here. I run small online retail stores with about 300 monthly customers. We’re beginning to focus on email marketing seriously for the first time.
I’ve read that email marketing can contribute significantly to revenue (around 30%). Can anyone confirm if this is typical for similar businesses? I’m keen to understand what benchmarks I should be aiming for and would appreciate any insights or specific numbers you can share.
In our first month focusing on welcome series and abandoned checkout emails, we achieved 2.5% of our revenue from email marketing. While this is a starting point, having a standard target would be motivating.
I think 30% is a great long-term goal, but it might take some time to get there.
For smaller businesses just starting with email marketing, it’s common to see initial percentages lower than that.
Here are some insights and benchmarks you might find useful:
Industry Benchmarks: Depending on your industry, benchmarks can vary. Retail and e-commerce businesses often see higher percentages from email marketing. Aim for incremental improvements—hitting 10-15% within the first six months can be a realistic goal.
Email List Quality: The quality of your email list plays a crucial role. Are your subscribers engaged and genuinely interested in your products? Regularly clean your list to remove inactive subscribers.
Content and Personalization: Tailor your emails to your audience. Personalized content tends to perform better. Segmentation can help target specific groups with relevant offers.
Frequency and Timing: Experiment with the frequency and timing of your emails. Too many emails can lead to unsubscribes, but too few can result in low engagement. Find a balance that works for your audience.
Metrics to Track: Keep an eye on open rates, click-through rates, and conversion rates. These metrics will give you a clearer picture of what’s working and where you can improve.
A/B Testing: Test different subject lines, email designs, and calls to action. A/B testing can help you understand what resonates best with your audience.
In terms of specific numbers, achieving 10-15% of revenue from email marketing within the first six months is a solid target. From there, aim to grow that to 20-30% over time as you refine your strategy and build a more engaged email list.
Would love to hear others’ experiences and any tips you have for improving email marketing performance!
I’ve dabbled in email marketing for my side hustle. It’s been a learning curve, but I’ve found that personalizing emails based on customer behavior and interests really boosts engagement. Segmenting my email lists and A/B testing different subject lines and content have also helped improve open rates and conversions. It’s a trial-and-error process, but definitely worth the effort when you see those clicks turn into sales.