With so many digital marketing and social media platforms now available, it is easy to forget the power of email marketing. But don’t let the fog of video marketing, TikTok, chatbots, artificial intelligence and the likes dissuade you from the longstanding reign of email marketing.
Email marketing averages the highest ROI of any digital marketing channel, averaging $44 of profit for every $1 spent*. The number of email users grows year-on-year AND email is more effective in gaining customers than the most popular social media platform, Facebook. It is for these reasons that email marketing isn’t going anywhere anytime soon.
Not convinced? We’ve listed the top four reasons why your business needs to engage in email marketing.
1. Personal Messaging
Generally speaking, your target market subscribes to your content, therefore you already know they want to hear from you. When they subscribe, take the opportunity to ask specific questions about their demographic, interests and purchasing habits to segment your audience. This information can be used to strategically target your messaging. The most effective emails are the ones that people want, so allow your customers to prefer the type of emails they receive; email newsletters, promotional emails etc. Segmenting your email lists allows for personal email journeys to develop and you can be more influential by understanding the needs of your customers.
Most email marketing tools and platforms will provide analysis services to measure the success of your email campaigns. Often they will provide marketing strategy recommendations to ensure you are getting the greatest conversions through your emails. Click-through rates, dollar conversions and competitor analysis are just some ways you can measure your email campaigns. Furthermore, these analysis techniques can help determine the best times to send your emails to create automated emails.
Take the time to split test your emails to understand the best ways to market to different target segments. Learn the power of calls to action, subject line optimisation, automated emails and content writing. Embedding videos and linking through to other content are just a few ways you can optimise your email campaigns to create great emails.
3. Quick Revenue
Email marketing has one of the quickest turnaround times, and you can measure the effectiveness almost immediately with the live stats. This means you can create fast impulse sales for immediate uptake within two clicks. Think 24-hour sales, click to enter prize draws and any campaigns that play off a sense of urgency. When messaging needs to be absorbed by your target quickly, such as marketing through the Coronavirus pandemic, email is bound to be one of the fastest ways to connect.
4. Low Cost
Most email platforms have a subscription cost, implemented once your email list reaches a certain size. Costs grow based on your email list size. But truly, this cost is usually so small it’s hard to put up an argument for why it isn’t worth it. Forget print and postage costs, signage rental costs and other advertising costs. It’s for this reason that the ROI is so great, and should be a key factor as to why email marketing is a must-have.
For these reasons, email marketing should be a cornerstone of any digital marketing plan. If you are looking for some advice on the best email marketing strategy for your business, contact us to get started.