We were chatting with a prospect recently who asked us how to show an ROI on her company’s email programme. They don’t have an e-store and can’t track sales through retailers. Like a lot of manufacturers and distributors, really.
In this case, she was looking to justify expanding the programme and make her budget secure for the inevitable second half budget review. We suspect it was also going to be useful in her appraisal to demonstrate the value she had added in the last year.
What we needed was a specific solution with a fancy name. That’s when the Equivalent Media Cost (EMC) was born.
Compare your email database with a TV schedule or online media plan. List size is the same as reach or opportunities to see and unique clicks compare directly with website traffic spikes and visitor rates.
So you have become a media owner, competing with magazines, TV, DM, online advertising, PPC and many others. You will need to create a media pack with information about your audience, typical response rates and examples of successes.
Now comes the killer blow; compare the cost per click figures. Suddenly your email programme looks pretty competitive. But don’t forget, your clicks are also from customers, people who already have a propensity to purchase. Show me the TV station or website that can match the deal you offer.