When it comes to email marketing, I was late to the game. Even though my digital marketing career started in 1998, I didn’t get serious about email marketing until 2010 – a full 12 years after I first started.
Until that point, I’d always assumed it was old-hat marketing. Even in 2004, when I launched my first website, I thought, “what’s the point?” as web 2.0 was emerging.
I feel like a foolish marketer to even admit that now.
But how wrong I was. As soon as I took email marketing seriously, there was no doubt in my mind that it is the kind of digital marketing.
Why is email marketing king of digital marketing?
The email inbox is still the best way for businesses to stay in contact with their customers and prospects. Email is the most effective way to increase brand awareness, conversions, acquire new leads, and create loyal customers.
But not all emails are created equal. In this blog post, I’m going to explore how you can use email marketing to take your business from average or below average to a highly profitable company that thrives on repeat customers.
Why email marketing is still the best marketing channel
Email marketing is the best way for marketers to connect with their customers. Here are just some of the reasons why email remains king:
-It’s cost-effective and easy to measure ROI. You can create campaigns from your inbox to specific segments, which reduces or eliminates wasted spend on unqualified prospects who don’t convert.
-Email marketing has the highest ROI of any digital channel
(According to a study from DMA, email marketing generates the most revenue per dollar spent. This is because when you generate repeat business with your customer base; the profits are exponential.)
-It’s easy and cost-effective to measure ROI
In short, it’s a low-cost, high-ROI marketing channel.
The email inbox is one of the few marketing channels that people still check daily. It can be an extremely powerful connection point for brands to tell stories and build relationships over time.
Email is Permission-based Marketing
Because subscribers have to ‘opt-in’ to an email list, it’s permission-based marketing.
Unlike other forms of advertising, it does not interrupt customers in the same way as to display ads, cold calls, or pop-ups.
This means the customer is engaged and on their own terms, which leads to higher conversions.)
And because it’s a personalized medium that delivers your message in just seconds.
You can send messages directly to specific segments of your target audience who are most likely interested in what you’re selling, reducing or eliminating wasted spend on unqualified prospects.
These segmented campaigns are what make emails so powerful.
Email works Each Stage of the Buyer’s Journey
Email can attract prospects before they even realize they need to make a purchase, allowing you to be their first port of call when they’re ready to buy.
It can also be used as a nurturing tool for the potential customer who is close to being ready but needs an extra push in the right direction.
For those that have abandoned their cart during checkout or placed items on hold while they think about it, email is your last chance to win them back and make a sale.
And for those who have just purchased from you, email can be used as a thank-you and post-sale service channel to ensure a new customer receive the best possible experience with your brand.
Emails Are Personalized Messages
Because subscribers often provide their name at the point of joining your email list, you can personalize emails.
Personalized emails will often have a higher open rate, leading to higher conversions than social media or other forms of advertising.
Emails that feel personal can create a better connection with your prospects and customers.
While it takes a while to grow an email list, and more subscribers means higher costs for everyone involved in the campaign.
Emails Are Low Cost
One of the big benefits of email marketing is that it’s cheap lead generation.
Recipients have to take action – opening and reading your message – for you to receive any kind of return on investment, meaning that there are no sunk costs if they don’t convert.
Email is the single most cost-effective marketing channel.
Email Provides Higher A Conversion Rate
Because emails can be segmented and highly targeted, recipients are more likely to take action.
This customization means that emails are more engaging and will be read by prospects who otherwise might not have paid much attention at all. This makes them great tools for conversion optimization.
Another added benefit of using an ESP is the ability to segment your contacts into specific categories and then send them a marketing message targeted at their needs.
This can be used for everything from having different messages sent to individual consumer segments, like first-time buyers or those who haven’t visited in a while.
Email Marketing Is Measurable
One of the big benefits of email marketing is that it is measurable.
This means that you can test different campaigns and see which ones are most effective, giving you an answer to the question of what channels work best for your target audience.
For example, if one campaign only brings a 10% open rate while another has a 50% open rate even though it sends out more emails – this is because the message in the first was not as engaging.
Most Email Service Providers (ESP) will provide detailed analytics about every email you send, including Open Rate, Click Through Rate, and Conversion Rate.
Email Marketing Is Evergreen
One thing that sets email apart from other channels is its evergreen nature, meaning it will always be effective no matter what time of year you send it.
This means you can avoid seasonal trends and continue sending your message to prospects long after they would have stopped.
In addition, email marketing also offers better customer retention rates than other types of traditional advertising options.
Email Can be Automated
Automation is a popular function offered by Email Service Providers. For example, you can create specific campaigns, such as a welcome series.
This reduces the amount of manual work needed to send emails on a regular basis while also providing consistency in your messaging.
Conclusion
Not only is email marketing a superb way to share your latest blog posts or other news with subscribers, but it converts strangers into customers.
The fact is, email should be a core marketing strategy at the heart of your business.
Email is a very effective marketing tool because it provides the opportunity to connect with prospects long after they would have stopped seeing your ads or reading your blog posts.
It also has better customer retention rates than any other traditional advertising option, and automating campaigns will help the business owner save time without compromising their messaging.