It can be daunting to decide which marketing channels you should invest your money into, especially when profit is on the line.
Marketing is ever-evolving, but some methods have stayed tried and true since the very beginning.
If your goal is to build customer loyalty and retention, then email campaigns may be the perfect option for you. This outreach approach is cost-effective and has the potential to inform and persuade your customers when it comes to deals and service offerings.
You can also save abandoned carts if the buyer entered their email address before leaving the page.
What is Email Marketing?
In 2020, email marketing generated total revenue of 7.5 billion dollars, but what exactly does it do? Well, this strategy involves sending out routine newsletters to existing or potential customers that have expressed interest in your company. It’s an awesome way to announce sales and promotions that may entice your audience to trickle down the sales funnel or return to your site.
Email marketing is an extremely effective channel, but statistics show that the average read time for a branded email fell to 10 seconds in 2021. With the window to hook your readers narrowing each year, it’s important to have an eye-catching subject line and engaging content in the first paragraph.
How Can Email Marketing Help My Company?
Studies have shown that for every 1 dollar you spend on email marketing, you can expect to get an average of 42 dollars in return. That’s a tremendous ROI in comparison to other marketing strategies like Facebook Ads or PPC campaigns.
This specific approach is lucrative due to how common e-mail use is among the population today. With such wide reach, you could get your company in front of a large audience and increase brand awareness without making potential customers jump through hoops to view your promotional content.
Let’s go over some of the key ways email marketing can be beneficial for your company.
Results have proven that consumers purchase products and services from companies they trust. To build that trust and turn potential buyers into long-term customers, you should position your organization as an industry expert. You can do this by providing free, valuable information through regular newsletters. These spurts of knowledge show consumers that you’re well-versed in the products or services you offer and increases your chances of conversions.
Create and Nurture Relationships
Email marketing is an excellent tool for customer retention, since regular contact and communication helps nurture relationships. If a brand didn’t care about you or your business, you probably wouldn’t give them the time of day.
You’ll start to collect an email list of people who visit your store so you have an active audience for new product launches or sales. Once you run your campaigns for a few months, you’ll start to see an increase in returning customers.
Track Campaign Results
Email marketing tools allow you to immediately track campaign results, analyze how various copy performs, and optimize your content to enable the most conversions possible.
This allows you to test multiple elements of the email marketing campaign to see which one performs the best. Gone are the days of endless trial and error. With precise analytics, you can narrow down your best campaigns quickly and focus on racking in the profit.
Once you find efficient marketing methods, you can adjust your focus to scale these campaigns and maximize revenue.
There are many ways you could expand your company’s exposure, but email marketing may be the perfect option for you. It’s a relatively low-cost strategy that offers a great way to build customer relationships. You can maximize profit and build connections with your consumers with a minimal budget and scale as you see results.