Ran across an interesting article in which a VP at Exact Target says that email marketing has the best ROI of any direct marketing method.

The article does make the point, rather subtly, that email has the best ROI when it’s done right.  I would have made that more clear.  Blasting out email for any address you can get your hands on won’t have a decent ROI, but sending relevant emails to people who want to hear what you have to say is very effective.  That’s the key: be relevant and send to people who want to hear from you.