What is the expected customer response rate to email marketing?
We send out a monthly newsletter with highlights, promotions, and trending styles for the salon. We have about 300 subscribers. It seems like most of our new customers come from word of mouth or customer referral. The monthly newsletter is expensive to maintain and send out if no business is coming from it. What are some average stats to expect from an email like this to help me determine if it is worth keeping?
Lexi there are so many variables that you haven't detailed. 1. The email list - Are these people confirmed customers? 2. If not, why are they on your list? 3. Do you measure the success rate of your emails? ie Open rate (from Headline)? Click through to offer.? Offer response rate?
You really need to understand all of these numbers in order to know whether the investment is worthwhile.
Overall, if you consider the above math, I have to say that with a list of just 300 there is no reliable stat for you. You just have to make it work with smart marketing!
On average, for every 100 you may have 20% noticability, and 10%-20% of that a sale.