To increase sales and become a leader in an industry, a business needs to create deeper relationships with a wide audience using cost-effective methods. These methods also need to present more opportunities and drive a better return on investment. Sounds like an enormous challenge (and it is) but everything can be achieved if proper strategies are applied.
With incredibly popular mobile and social media marketing, many perceive them as perfect strategies to achieve business goals. However, email marketing presents much more opportunities for companies in terms of building brand awareness, maintaining cost-effectiveness, and increasing profits. If someone says it’s on the verge of death, just ask them when was the last time they went a whole day without checking their email.
The data supporting the effectiveness of email marketing are plentiful. McKinsey’s iConsumer survey conducted in 2014 found that email was almost 40 times more effective than all major social networks combined in acquiring new customers. That’s right, email marketing outperformed social media in a big way.
But isn’t it annoying to receive promotional emails? The answer to this question is provided by a recent study completed by Marketing Sherpa. 2,057 U.S. adults were asked a number of questions related to promotional emails (e.g., “would you like to receive promo emails from companies?”). The results were remarkable: more than 90 percent of participants liked receiving them!
These data suggest that conventional wisdom got it wrong. Email is an appropriate form of marketing and a vast majority of Americans endorse it. No surprises, over 50 percent of people who use the Internet every day check their emails.
So, it turns out email marketing can be a very successful addition to your marketing effort… But still, what makes it so effective? There are several major reasons.
First and foremost, it’s targeted. It allows to control who sees the message by segmenting contacts based on various characteristics such as geographical location, lead status, demographics and so on. As the result, targeting improves the communication with prospects and customers because it ensures that they receive personalized content that suits their needs.
Targeting also plays a huge role in email marketing because it allows personalized messages. For example, a customer may receive an email with the browsing history and discounts on products he or she viewed. Thus, email marketing allows to foster a high conversion rate by providing relevant and personalized content.
Second, it’s cost effective. Email has a median return on investment of 122 percent, which is more than four times higher than social media, paid search, and direct mail combined! This is a quite appealing advantage for both small and large businesses because everyone wants to reduce promotion costs. With emails, for example, there is no postage fees, print costs, and advertising rates.
More evidence of the cost-effectiveness of email marketing comes from the Direct Marketing Association (DMA). According to the DMA, email outperforms social and other kinds of marketing by bringing in $40 for every $1 spent (compared with $38 in 2015). That’s huge!
Third, it increases brand awareness. A business can build value if it exposes prospects and customers to its targeted content consistently. With time, they will become fairly familiar with the company and remember about it if they need products and services.
In other words, email marketing allows to stay top-of-mind with the audience and have a greater chance to be remembered. Moreover, by sharing informative and helpful content along with the offers, the company can build credibility and reputation. That’s priceless in the modern online business.
Fourth, the performance of email marketing is totally measurable. This advantage is significant because businesses today cannot survive without analytics and measuring the success of their effort. Unlike other marketing channels that provide estimated results at best, email marketing draws precise metrics such as subscriber retention rates, open rates, delivery rates, and many more others.
Marketers who have these data can get incredibly valuable insights into the interests and preferences of the target audience. For example, by implementing and measuring the performance of an email marketing campaign, one can identify the content the audience is the most responsive to. As the result, the business can adjust the strategy and focus on this content in the future to deliver better results.
Last but not least, email allows to promote a business everywhere because it has a global reach. Literally, there are no boundaries and limits! Regardless of the location of the company, emails can reach their receivers in any country of the world without any additional costs. All that, at a fraction of the cost of social media marketing.
Pretty impressive, huh?
This opinion is also shared by thousands of marketers. For example, a recent 2016 Email Marketing Insights Study found that 86.7 percent of companies stated they planned to increase their upcoming email marketing budgets.
All those people who say email marketing is on the verge of the verge of death can be easily silenced now with this undeniable information.
Automation gets email marketing performance even further. According to the 2016 Report by Campaign Monitor, automated emails generated 320 percent more revenue. Clearly, those companies that don’t acknowledge the effectiveness and benefits of email marketing will lose their competitive edge very soon.
To help you maintain your competitive advantage and get even more profits, you have to learn which emails need to be sent on an automated basis to personalize your marketing effort. For this, check out the “7 Emails Your Ecommerce Store Needs to Send Out on an Automated Basis” infographic designed by Assignment Helper below.
It will introduce you to the art of email marketing that allows to keep customers super engaged and loyal to your brand. All seven emails are described along with pro tips to ensure you know their unique purpose and techniques that ensure a proper use. Also, you will discover the most common mistakes committed by companies in email marketing.