In digital marketing, the battle for getting results and gaining a strong ROI (return on investment) is all about finding the most efficient ways to interact with an audience. While new mediums such as social media, influencer marketing, and search engine advertising all received tons of hype, email marketing has remained the champion of ROI for as long as I can remember. Virtually new strategies have emerged, but email marketing remains a vital tool for a business and producing results when done correctly.
Here I want to tell you why email marketing continues to be so magical, how businesses can make their email campaigns even better, and why email marketing is the number one choice for marketers looking for the best bang for the buck.
1. Email Marketing Provides Straight To The Point Communication
A big reason email marketing gives such high ROI is because it is a direct way into your customers. Unlike social media platforms or search engine ads, with email marketing you already have a direct line into your audience.
When you send an email, you’re reaching your subscribers’ mailbox, where they actively check. Because this level of direct engagement, email is by far one of the most personal and effective ways to interact with your customers. Campaign Monitor’s study says that for every $1 spent on email marketing, the average return is $42 — meaning it is by far the most efficient channel to convert a lead into a sale.
2. Higher conversion: Highly Targeted Campaigns
Email marketing’s most powerful attribute is that it lets you target different parts of your audience. Segmenting down your email list based on things such as demographics, behavior, and purchase can mean that you create emails that are personalized to the wants and needs of your recipients.
Engagement rates go through the roof with personalized emails. As HubSpot shares, segmented email campaigns can increase revenue by 760%. How customers perceive that a brand understands their needs better than anyone else is also an important part of conversion. Take as an example, sending selective promotions or special offers to loyal customers is more probable to produce a high ROI rather than generic mass email blasts.
3. It is Cost Effective for Businesses of all Sizes
One of the most cost effective Digital Marketing strategies is Email Marketing. Unlike paid advertising or influencer partnerships, you don’t need a big budget to create or place media for creative production. Scalable pricing plans are available in most email platforms that let businesses begin small and as their campaigns grow with them.
Email marketing is such an effective way for small businesses with tight budgets to communicate with as much impact as you get for free! That means it’s good for businesses of all sizes, from startups to big corporations. Since the cost to send an email is so low, and the ROI potential is so high for email marketing, it’s a method that will always serve to generate high returns.
4. Automation Saves Time and You
Email marketing automation has revolutionised how businesses reach customers. Automation tools help marketers write and schedule emails, send automated responses, nurture leads and trigger personalized campaigns all based on your customers behavior.
Say, an e-commerce site customer leaves products in their shopping cart and an automated email can be sent to the customer with a reminder that he/she probably forgot the products left behind, helping not to lose sales. This type of automation not only saves time but also helps businesses maintain a constant communication with an audience so they don’t fall off their mind having to manually send every email.
Businesses can also scale their email campaigns better with automation. Businesses can spend less time manually crafting emails for every new product launch or seasonal promotion and more time focusing on the nuts and bolts of their business by setting up automated workflow that send themselves out of the background and keep churning out engagement and sales.
5. Continuous improvement results in measurable results
The fact that email marketing is suited for ROI is because you can track and measure your performance. Marketers are able to analyze how their campaigns are performing in real time with open rates, click through rates, conversion rates and unsubscribe rates.
Using this data driven approach to their business enables businesses to benefit from constantly improving their campaigns. Marketers are then able to replicate the strategies that work with their email subject lines and content types if those work better than others. Also, behaving different email formats (A/B testing) will help you fine tune campaigns to get more and more people to engage and convert. Email marketing allows you to discover what works through and optimize for more ROI.
6. Customer Retention and Customer Loyalty
Acquiring new customers is important, but retaining these customers is even more valuable to long term success. Customer loyalty and retention is massively facilitated through email marketing. When done right, businesses can send out emails personalized for customers with exclusive offers, product updates, or loyalty rewards to keep the customers engaged and re-purchase more often.
Incidentally, investing in a new customer is five times more expensive than looking after an existing one. Email marketing plays an important role in creating a relationship with any audience and it also helps to keep the customers in touch with customers to increase their own chances of repeat business and long term customer loyalty.
7. It’s Mobile Optimization that makes it accessible and reach.
However, the success of email marketing is a natural reaction to the rising use of mobile devices. Statista says that more than 50 percent of all emails are opened on mobile devices, and this will keep climbing. This consequently means that businesses should always ensure that their emails are mobile friendly to ensure a great user experience.
Responsive designs and concise messaging in optimized emails means your emails arrive on your audience’s mobile devices in a format they can read and engage with easily. For those of us in business, email marketing is more valuable than ever as a way of increasing ROI, but designing and writing emails that work well on mobile devices provides the best chances of driving conversion rates higher.
8. Email Builds Trust and Authority
If done correctly, email marketing will also assist you with building trust and authority in your audience. Anway, you are placing yourself in the best possible foot forward when you continue to supply valuable content, educational resources, and timely updates, so that people see you as the place to go for information and products.
There’s nothing wrong with tying sales to value with emails that contain industry specific insights, expert advice or helpful guides that are beyond the sales pitches. One of the biggest reasons email marketing has such a high ROI is due to the trust building aspect of it. Email marketing helps customers buy from a brand they trust and they feel connected to.
9. Email Marketing Goes Hand in Hand With Other Channels
Email marketing is on its own but also good with other channels of marketing. A solid example of this is through email to promote social media campaigns and driving your subscribers to your social platforms or exclusively featured content. In a manner similar that email marketing complements SEO strategies, email marketing involves sending targeted content to users who have previously connected with your website or blog.
When your business builds an omnichannel marketing approach, email marketing is one piece of the puzzle that works in conjunction with other digital marketing strategies to increase your reach and increase ROI.
10. Here’s Why Email Marketing Rules Supreme
But news of new digital marketing tactics was never far behind, and email marketing roared onto the front pages of profit charts as the undisputed king of ROI. Due to its ability to target specific audiences, deliver personalized content, and verify results for continuous optimization it is an invaluable tool for any size of business. When done right, email marketing can help you forge customer loyalty, increase sales and have a cost effectiveness very few marketing channels can outdo.
Our responsibility as email marketers is to realize just how much email can really do, and to keep financially backing strategies that connect to, develop to, and convert your audience. In any case where you are, small business or large enterprise email marketing will always be a cornerstone of your marketing activity – to keep your brand top of mind and drive maximum return on investment.
Therefore, if you want to get real results from your marketing campaigns then it’s firmly time to leverage the potential of email marketing fully, maximise your ROI and take your marketing to the next level.
