Email Marketing: Your New Best Friend
It can be daunting to decide which marketing channels you should invest your money into, especially when it can either result in an impressive ROI or a total loss of profit. The goal is to appeal to your target audience and build relationships that enable more conversions, which is where email marketing comes in. This marketing method is cost-effective and has the potential to inform and persuade your customers when it comes to what your company has to offer, all while creating connections in the process.
What is Email Marketing?
In 2020, email marketing generated total revenue of 7.5 billion dollars, but what exactly is it? Email marketing is sending out newsletters and promotional content to a mail list composed of your customers. A customer or potential buyer is added to this list when they subscribe to your newsletter, so it’s evident that they are interested in knowing more about your business. This is a great way to announce sales and promotions, but statistics show that the average read time for a branded email fell to 10 seconds in 2021. This means the window to hook your readers is getting smaller every day.
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 and is more significant than the estimated ROI for most strategies. This marketing approach is lucrative because 4 million people actively use email worldwide, which means you have the potential to get your company in front of a large audience and increase brand awareness. Let’s go a little more in-depth on some of the best email marketing benefits.
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 and provide free information through regular newsletters. This shows the consumers that you are 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, as regular contact and communication create relationships that turn into customer loyalty. This means you’ll have an email list of people to alert when sales start, and you’ll see an increase in returning customers when you launch new products.
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 will allow you to test multiple elements of the email marketing campaign to see which one performs the best. Once you find efficient marketing methods, you can adjust your focus to scale these campaigns and maximize profit.
There are many ways you could expand your company’s exposure, but email marketing may be the right option for you if you’re looking for a way to maximize profit and build connections with your consumers. You can start with a minimal budget and scale as you see results.