ARE YOU MISSING OUT ON THE AMAZING ROI OF EMAIL MARKETING?
In the business world, results and profits are arguably all that matters. With this in mind, most businesses invest in email marketing mainly because of its fantastic and incredible return on investment (ROI). According to the DMA, the ROI for email marketing increased from an estimated £30.03 for every £1 spent in 2016 to £32.28 in 2017. It is therefore clear to see that email marketing undoubtedly continues to be the most effective marketing channel available to most businesses currently.
WHAT IS EMAIL MARKETING?
Email marketing, a segment of internet marketing, is the use of email to promote a business and reach out to its current or potential customers in a better and much more interactive manner that addresses and engages them on a much more personal level. It also helps retain existing customers and keep them updated about the company’s upcoming promotions and events. Email marketing targets a large number of prospects or customers of a business and is undoubtedly the best source of return on investment (ROI) for many businesses to date.
PERSONALIZED EMAIL MARKETING
One of the major reasons for it to stand out among other means of marketing is majorly its personalized manner and the way of reaching out to the customers. It targets particular groups of prospects or individuals. When it comes to individuals there must be an active opt-in from the individual, it means that they are willing to be a part of the business as its opt-in feature allows marketing through the customer’s consent. It has an easy consent confirming campaign through which the customer’s consent is acquired as they provide their email addresses to the company to stay in touch and be updated.
Email marketing also offers customers special deals or services on a customer’s birthday which is one of the examples of email marketing personalization. Electronically the business company can keep a track of its customers birthdays and offer them discount codes or deals to make them feel special and that the company cares for them. It is ensured that these deals are catchy and attractive that somewhat bounds the customers to avail the offers which in turns benefits the company and gives it business. Also, it strengthens the client-company relationship and customer satisfaction rate goes high instantly. This results in increased sales and increased customer loyalty to the company.
As we all are well aware of the significance of mobile phones in our lives today and that they cannot be separated from us even for an hour, email marketing allows a company to deliver its messages much faster and more conveniently on the customers phones; the best way to engage with customers can be none other than on their phones, but do you think calling them on their phones is a good idea? Not really! However, emails can be optimized for mobile usage as according to studies and statistics over half of the emails are opened on mobile phones.You might wonder why should email marketing be preferred over text message marketing; it is because even though email marketing works almost the same way as text message marketing or SMS marketing, it allows you to reach desktop as well as most smartphone users. According to surveys and studies, it is found that customers find emails less bothersome than constant text messages from companies on their personal contact numbers.
Another study shows that 94% of Internet users use email,this shows that email marketing is surely reaching out to a greater number of customers and spreading the word to a bigger business community. Even if these people are not on social media such as Instagram, Facebook or any other, your message is still visible and reachable to them. 75% of adult Internet users reported that email marketing is their preferred method of marketing.
TRACK BUSINESS ROI
Another advantage of email marketing is that it’s incredibly easy to track business ROI. Everything is trackable with the use of email marketing software from determining who is opening your emails to who is clicking onto your site through your emails, and more. Everything is under control and the company knows exactly its strengths and drawbacks which can be both appreciated or improved respectively.
EASE, FLEXIBILITY AND COST EFFECTIVENESS OF EMAIL MARKETING
Email marketing definitely has its perks for many businesses; it is the most preferred choice because of a good number of advantages it has to offer. The ease, flexibility and cost effectiveness of email marketing certainly top the list of its benefits. Sending a business promotional email is an inexpensive way to advertise a company and its products and services compared to other types of marketing. There are no charges for advertisements, no prints or postage costs and no money to be paid in exchange for the display of an advertisement on a certain billboard, magazine or television channel. Email marketers just have to invest one time in a good email marketing software to automate, track, record and evaluate their emails. This usually results in a very high return of investment (ROI).
Coming to the flexibility and layout of email marketing, congruency and creativity is the key to success for a company. The emails usually go in accordance with a theme, a special event like Christmas or New Year, and also the company’s websites and social media accounts to make it catchier and irresistible with captions such as ‘Year’s most awaited sale’ and many others; so as to seek attention of the customers and hype the company’s products or services. The right choice of design options gives scope to a company to convey their business branding. a company can send messages, images or even short videos over the email. Attachments with details and links to relevant contents are also sent. The emails are made mobile-friendly to allow customers to access them immediately.
EASY TO SHARE
These innovative emails are easy to share with friends. This means more people are added to your chain of advertisement. Emails are easy to share so customers may forward exciting emails to their family and friends at the click of a button, building the company’s reputation by word of mouth or viral marketing. This leads to influence new people to become customers and followers of your brand giving an increased profit. There aren’t many other types of marketing that can be shared as easily and quickly as this one.
REACH A GLOBAL AUDIENCE
Email marketing also enables a company to contact and reach a global audience which is not very common in other types of marketing. Getting International buyers mean a large and extensive buying community with greater ROI and much more profit throughout the year. For instance, a company deals in woolen and leather clothing, its sale rates are to go up and down with seasons. The demand for its clothing might be decreased during warmer summer season. However, with international customers, it will do business all around the year and sale rates are usually not affected by region, season or the conditions of a place. Also dealing with international clients builds a good reputation of the company and customers also start building trust.
HIGHER CONVERSION RATES WITH EMAIL MARKETING
Another benefit of email marketing is that it allows and provides higher conversion rates than other marketing channels and also results in impulsive buying. By composing a well-written email that ends with a clear call-to-action such as clicking on a provided link to buy or visit the website for details, the company can encourage customers to take the next step in the journey of becoming their buyer and moving them closer to a conversation. If a company has a new sale promotion going on, people can simply click on links and follow immediately. This type of marketing is highly effective and beneficial to any company and can provide great profits over a shorter period of time. It is effective at every stage of the selling and buying process. It can influence the customers to choose a company’s product, and also encourage future purchases.
Due to the urgency and immediacy of email service, a business company can start seeing its positive results within minutes of its email being sent and delivered to its customers. Emails can be utilized to create a sense of urgency among the customers and then provoke the fear of their desired item being run out of stock. It can be used to convince the customers to take immediate actions by clicking on the provided links and shop their most desired products before they run out of stock. Usually, businesses have to wait for days or even weeks to see the outcome of sales but with emails and online buying, the results are not only quicker but much more and profitable. Thus, email marketing can also help a company to increase traffic on their websites.
CREATING BRAND AWARENESS
Creating brand awareness is one of the most important and essential benefits of email marketing. It helps to create and increase brand awareness by sending emails to the inboxes of the potential or existing customers of a company. The emails act as a constant reminder to the customers and make them think of the company or the brand. The more consistent conversation through emails with customers, the more likely they are to think and respond to a business company. The customers nowadays are constantly bombarded with a thousand companies’ advertisements and offer that is convincing them to buy from them and become a regular customer. Each company competes with the other by providing concise, innovative and relevant information about their products and services. The companies also make sure not to overuse email marketing tactics as the customers might get irritated and leave responding to them resulting in lower ROI. Each marketing strategy is,therefore, effectively formed and carried out to capture maximum attention from the email subscribers and at BizWell we often recommend our clients to use multiple strategies and channels simultaneously to achieve success and authority with their target audience.
TESTING AND EVALUATING SALES DATA
With email marketing, a company can easily identify the content and messages that have provided most business and that resonates best with its customers and work to optimize content for best productivity results. With ways such as demographic testing and segmentation, a business company can develop an effective strategy for reaching each of their customer segments. It can then determine the types of messages and offers that work best for each customer and can maximize the rate of ROI.
PROVOKE IMPULSIVE BUYING
Unlike other ways of marketing such as television commercials, billboard ads, flyers and others, email marketing allows a company to communicate with its customers in real time. This makes a connection between the customer and the company. The customers eagerly wait for new promotional emails to avail of different offers. It is best to inform the customers about a last-minute on-going sale or remind them about a promotion that is nearly ending soon. A simple email can be put together and sent to the customers that will be received in just enough time to take advantage of the offers that are set to expire. Customers usually tend to buy when they are prompted by emails.
DO YOU NEED HELP?
National laws varies when it comes to email marketing so if you’re unsure about what applies for your specific campaign please contact us at BizWell and we will gladly help you sort things out. At BizWelll we help our clients to enlarge their mailing lists with consent confirming campaigns wherever needed. Don’t hesitate to contact us if you have any questions regarding this!