If anyone tells you that email marketing is dead, they did you a favor. You now know not to take any more marketing advice from them.
In all seriousness, email is one of the best marketing channels available to businesses of any size or industry. Even so, only 69% of businesses spend time or resources on email marketing campaigns.
Fortunately for you, that means there’s less competition standing in your way. Let’s talk about some of the best email marketing benefits and how you can enjoy them for your business!
1. High ROI
Email marketing has the highest average return on investment (ROI) out of any marketing channel. On average, email marketing generates $42 for every dollar spent. If you compare that to the hottest digital marketing trend of the last decade, SEO, at only $2.75 for every dollar, you’ll see how beneficial email is.
Well, there are several reasons for this fact. For one, nearly everybody has an email and checks it daily. Even Facebook doesn’t have that kind of reach.
Also, emails are incredibly customizable and personal. You’re showing up in someone’s inbox, which is hard to ignore. For many, this will provoke a notification on their phone or computer, which most of us check throughout the day. Here are some other reasons!
2. Improving Retention
Email is one of the best ways to increase your customer retention. As you build your mailing list, you’ll notice that most subscribers are previous customers or those who have already interacted with your website. This is a great way to stay relevant in their minds and remind them of how great your product or service is.
Did you know that a 5% increase in customer retention results in 25% to 90% increases in profits? That’s because a loyal customer base can sustain a business through any challenging period. Getting customers is half of the battle in marketing, keeping them is the other half!
3. Low Startup Costs
Email marketing is quite inexpensive both to start and maintain. The only costs are a subscription for your email templates and possibly a freelancer or employee to draft your content. Email copy is short, so even these costs shouldn’t overwhelm your budget.
While you may choose to spend a little more to grow your mailing list initially, these costs are still inconsequential compared to the potential long-term benefits.
4. Reducing Dependence on Paid Ads
The more organic traffic you build, the less dependent you become on paid ads. While ads are great for generating short-term revenue, they certainly aren’t cheap. The more outlets you have driving traffic or sales, the better.
Again, email marketing has unparalleled ROI potential, making it the perfect channel to diversify your marketing campaign and save money. As you likely know, ad spending is only increasing each year. The more you invest in organic marketing now, the more you’ll save later!
5. Email Marketing Is Measurable
Your email campaigns are easy to track, measure, and improve upon. You can even run sample tests with your email list by taking two small portions of your list and sending out two nearly-identical emails with one key distinction. After a few trials, you’ll develop a better understanding of what your audience responds to.
Over time, this will offer great insight into which strategies work with your mailing list. Essentially, you’ll only improve your conversion rates over time.
To do this, you will need to track your campaigns using the analytics tools of your choice. Key performance indicators (KPIs) for email campaigns include:
- Open rate
- Click-through rate
- Conversion rate
- Bounce rate
- List growth rate
- Unsubscribe rate
There are others that you may need to track, but this is a good start.
6. You Can Customize and Personalize Emails
Emails are one of the best options for building a clear and recognizable brand. If you want to make your brand memorable, you can personalize each email and stand out to your audience.
You can build a recognizable brand aesthetic, messaging, and so much more. You control the imagery, design, layout, font, and copy. This makes email a perfect branding outlet personally delivered to your audience.
Over time, this will help build positive brand associations. Users will feel a sense of connection with your brand.
Moreover, we aren’t just talking about adding people’s names to their emails. You can also customize based on their location, purchase or browsing histories, and more. This will improve conversion rates and help you stand out from competitors.
7. You Can Get a Jump Start
Yes, email marketing, social media, SEO, and other organic approaches take time. You won’t build an email list overnight by leaving prompts on your website.
However, you can get a head start on your email campaign by purchasing a mailing list for your intended audience. For example, if you’re marketing to real estate agents, you can purchase a real estate agent email list. The same goes for doctors, lawyers, businesses in your state, or whatever target market you have.
This way, you can start building brand awareness, direct outreach with your customer base, testing your campaigns, and earning. Again, this requires little startup costs, and the potential benefits are unlimited!
Enjoy These Email Marketing Benefits For Yourself
Now that you know some of the most important email marketing benefits to consider, enjoy them for yourself by starting a quality email campaign. If you have the right help, don’t let anyone tell you that it can’t happen overnight!
Stay up to date with our latest marketing tips for your business, and check out our mailing lists in your state for more help with your campaign!