By Megan Ouellet, Director of Marketing
March 27, 2007
As organizations are under pressure to cut expenses, improve processes, and increase profits, there has been a shift in many marketing departments. According to a report by the CMO Council, nearly 50% of all companies restructured or realigned their marketing departments to better support sales and drive demand generation last year. This year, marketing departments will focus on metrics to determine an accurate cost of acquiring and retaining customers and measurements to quantify the value of marketing initiatives and investments. This means that marketers must budget and spend more carefully than ever before.
As a marketer, you already know that email marketing produces positive results for your bottom line. In fact, there are few tools that give you the ability to deliver your corporate message to the masses as efficiently and effectively as email marketing. According to the Direct Marketing Association, in 2006, marketers received an average return on investment of $57.25 for every dollar spent on email marketing. This compares to an ROI of $21.08 and $7.20 for online and print marketing initiatives respectively. The numbers speak for themselves; however, due to budgetary restraints and outdated perceptions, many companies are finding it difficult to allocate the necessary funds to implement a successful email marketing strategy.
It takes meticulous planning and a prudent approach to develop a winning proposal for email marketing. Listrak offers the following tips and best practices to help you create and implement an accurate budget for your email marketing initiatives.
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