Email marketing has become a vital part of our lives. Email marketing is a great way to stay connected with customers and prospects via their email addresses.
According to Statista, in 2020, e-mail marketing revenue stood at 7.5 billion U.S. dollars, and by 2023, this figure is set to cross the 10-billion-dollar threshold. Few other channels can compare with e-mail marketing’s average return on investment (ROI). Since companies can expect up to 45 U.S. dollars for every ad dollar spent, there is no question why e-mail has maintained its claim to fame for decades.
The key to successful email marketing campaigns is to create relevant messages and subject lines that resonate with recipients.
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What is Email Marketing?
There are various types of emails. But any email sent out to enhance the relationship between your business and your past or current clients to encourage customer loyalty and repeat business is email marketing.
Effective email marketing campaigns are robust and cost-effective ways to boost your business performance when executed well. It will increase your profits and grow your base of loyal regular customers.
There are many advantages of email marketing that we will address shortly. But before you can harness any benefit of email marketing, you must put certain things in place. It would help if you had an email marketing strategy and selected your preferred email marketing platform. Choosing the right platform is critical because it is not proper to send your marketing email or email newsletter from the email facility provided by your web hosting platform. You need a dedicated platform from an email provider.
These platforms will give you access to tools and other resources to help you build relationships with your customers. You can use it to engage in different forms of marketing and send various types of emails. You will also do email segmentation and measure your click-through rate and conversion rate.
Now let’s turn our attention to email marketing benefits. Here are some of the top benefits of email marketing.
Here are 13 benefits of email marketing.
1. It’s Free, Quick and Simple.
This is the most significant benefit of email marketing. An email is a free tool available to anyone with internet access. You incur no further expense to send and receive messages in their basic form. It’s also quick and straightforward. Once you compose your message (one of the most challenging aspects), you must hit the send button and deliver your message.
But if you have email subscribers on your contact list and are interested in all the bells and whistles that come with an automated marketing program, then you will need to pay! Nevertheless, the rates are affordable.
2. It Is Effective.
This is another email marketing benefit. Email marketing is second only to search marketing for effectiveness as an online marketing strategy. This effectiveness makes it indispensable as a marketing tool. According to one report from DBS Data, businesses can expect an average return of $38 for every $1 they spend on email marketing.
US retailers consider email marketing one of the most effective methods for acquiring new customers, according to a joint study by Shop.org and Forrester Research. So, sending timely email campaigns is an activity to stimulate interest in your business or brand.
3. Drives Customer Acquisition and Retention.
These days, many people make purchases online, and in a study by eMarketer in March 2016, 81% and 80% of respondents said email marketing drives customer acquisition and retention. Other digital tactics like organic search followed email’s usefulness at 62% for acquisition and social media at 44% for retention, both rated effective by far fewer respondents than email.
For customer acquisition and retention, email marketing is the way to go. And according to the same source mentioned above, email marketing accounts for nearly 7% of all customer acquisitions online.
It plays a vital role in the customer journey. You can use it as a tool to persuade your customer base of current customers and potential customers to become your brand evangelists.
Before launching your email campaign, you must have received the recipients' explicit permission to send them an email. Click To Tweet
4. Permission-based Marketing.
Before launching your email campaign, you must have received the recipients’ explicit permission to send them an email. An organic permission-based mailing list provides you with people who have shown their willingness to receive emails from you. And so, your emails will be welcome in their email inbox.
Without their permission, they will regard your email as spam. And according to the new European GDPR law, it is illegal to possess people’s private and personal details without their permission, not to talk about emailing them without their consent. You can end up in serious legal trouble.
5. Low-cost Means to Reach a Global Audience.
Compared to any other form of marketing, email marketing is a low-cost means to reach a global audience. Email marketing is inexpensive compared to traditional marketing tactics, such as direct mail and print media. While these conventional print media require you to spend money on printing and advertising space in newspapers, magazines, etc., email marketing requires only a small investment of time and resources in developing compelling content.
Besides relatively low operational costs, email marketing also provides an attractive return on investment (ROI). According to this article, the ROI of an email marketing campaign can be astronomical. The average campaign generates an ROI of 4400% or a return of $44 for every dollar spent.
Email marketing and social media combine superbly to reach a global audience. Email marketing can help build a strong following for your blog, Facebook, Twitter and other social channels. This is why you need to use your email marketing tool to notify subscribers and followers of your social channels anytime you publish a new blog post.
Unlike traditional print media, reaching a global audience through business email marketing does not hurt the environment since it is paperless. It will also not break your business marketing budget too.
6. Email Marketing Is Thriving.
Many people do not use social media platforms despite the popularity and benefits of social media platforms like Facebook, Twitter, LinkedIn, etc. But according to this article, email use is thriving and is used by 95% of online consumers. The article notes that 91% of consumers reported checking their email at least once a day and that it’s not uncommon for consumers to check their email dozens of times each day.
The use of email marketing software to promote your valuable content, products, and services to your potential or loyal customers is a great way to drive more traffic to your website. It is a highly effective tool for nurturing leads through the buying cycle compared with a more significant number of people using email long before these social media sites came into existence.
Being an email marketer is not only about sending out email content, promotional email or other relevant content to your current customer. It’s about building relationships.
7. It Is a Useful Tool to Educate Your Target Audience.
Email marketing is a valuable tool to educate your existing and prospective clients about new product releases and services during the holidays. Remember that your newsletter should be 90% educational and 10% promotional, as mentioned in this article. So even if you add a few calls to action at the end of your newsletter, selling should not be your primary goal.
8. Analytics and Actionable Data
Although big brands use it, it is not their exclusive property. SMBs, too, can use it to take their marketing to the next level. For instance, you will get loads of analytics and actionable data using a professional email service provider (ESP). You can use the data you derive from your service provider to refine your overall marketing strategy.
9. Helps Build Strong Relationships, Loyalty, and Trust
In line with the previous benefit, email marketing is an excellent tool for collecting feedback and surveys. These will help you keep a pulse on the customer experience to build strong relationships, loyalty and trust between your target customers and your brand. It’s also a great way to create pieces of content that can give your audience a sneak peek into your business. This will go a long way in building trust and loyalty.
The data you collected is also helpful in creating highly personalised and engaging content to meet your audience’s needs. It is possible to segment your target audience into lists. Use this email list segmentation to group members of your email list based on geography or other criteria.
According to this source, if a customer has opted to receive emails from you, you shouldn’t be shy about sending and contacting them.
Effective communication helps build strong customer relationships. According to this article, you will remain top-of-mind and keep people engaged with your business during your busy season and the slower times of the year.
10. Easy to Get Started, Measure, and Share
Compared with other digital marketing strategies, email marketing requires the least effort. It doesn’t need a techie, nor does it require a team of persons to get started, measure its performance and share it. It’s managed through an automated program your ESP provides that you can use to personalise your email to each recipient’s needs.
The links in your email make it possible to track and measure the campaign’s performance and how each recipient engaged with your email. You can also use it to weed out any fake email addresses and improve your email sign-up process. So it is essential to select the right platform that enables you to send out your marketing message and access the features and metrics you need to accomplish your marketing objectives.
11. Establishing Authority.
The goal of every business is to establish itself as an expert in your industry. Suppose you have an email marketing program with millions of persons subscribed to your email list and engage with your email on their mobile or other electronic devices. As a result, you become the authority in your customers’ eyes.
The links in your email make it possible to track and measure the campaign's performance and how each recipient engaged with your email. Click To Tweet12. Availability of Different Tools.
Several tools offer unique features at various price points that you can use to enhance your campaigns. These tools allow you to harness artificial intelligence (AI) to enrich your campaigns.
For instance, according to this article, AI brings more brilliant spam filters that email service providers use to fight spam. This ensures that businesses follow best practices. Otherwise, their emails will go unread and straight to the spam folder/box.
13. Message Optimisation for Mobile Screens.
This article notes that people read over 60% of all emails on their smart devices. Almost 80% of mobile users have purchased something online through their phones. Statistics point to an increasingly apparent move from computers to smartphones for viewing emails and other online activities. Therefore, email marketing is an ideal way to provide personalized content for your subscribers.
Is Email Marketing Right for You, and Are You Ready to Start a Campaign?
For small-business owners on a budget, email marketing is a better choice than traditional marketing channels like TV, radio, or direct mail. So don’t listen to the naysayers when you come across sensational headlines claiming email marketing is dead. Far from it. Email marketing is alive and thriving, as seen in the above article.
It has changed the game of the sales cycle. You can handle email as it pushes the operation of the sales cycle on its own. With email marketing automation tools, you can create and schedule drip campaigns. So, you send the right message at the right moment in their customer journey.
Conclusion
In conclusion, email marketing is an excellent tool for any business looking to grow its customer base, generate leads, and increase sales.
So, there you have it. These are the 13 benefits of email marketing. As we have seen from the above, email marketing is the right choice for businesses to work smarter, not harder.
However, it would be best if you tread with caution. Like GDPR and similar laws, privacy laws guide how organisations use cookies to access and store their customers’ data. So please abide by these laws to avoid trouble with the authorities.
Need help in formulating your email marketing campaign strategy? Contact us, and let’s talk!
Related Article(s)
- How to Perfect Your Audience Segmentation
- How to Make Your Email Marketing More Effective
- How to Collect Email Addresses for Email Marketing
- 5 Common Misconceptions About Email Marketing
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