Email marketing has been around for ages- and many believe that it is now an outdated and useless channel. But, with startups like MailChimp, Active Campaign, and HubSpot quickly dominating the digital marketing space, we beg to differ. Let’s take an inside look at why your business needs email marketing- especially if it’s on a budget.
Reason #1: Email Marketing is Essentially Free
Yes, you heard that right. You don’t pay to send an email, and with services like MailChimp offering free plans, there is no excuse not to be emailing your potential and existing customers. Now, for more complex (and important) features like A/B testing, analytics, segmenting, open rates, click-through rates, and etc. you may need to purchase certain premium subscriptions and software.
Reason #2: Email Marketing Boasts an Average ROI of 44:1
ROI, or return on investment, is a KPI (key performance indicator) that you should always keep a laser focus on. At the end of the day, this will almost always be one of the most important numbers in a anything that your business does. With an average ROI of 44:1, you’re making an average of $44 for every $1 that you spend on email marketing. Through split testing and using the correct analytical tools, there is no reason that you can’t achieve that ROI. There is a reason that almost every Fortune 500 company makes 30% of their yearly revenues directly from their email lists.
Reason #3: Emails Let You Get Personal With Your Audience
In a world where someone is always trying to sell you something, personalization is key. Look at the numbers yourself and you’ll see how personalized emails get a much higher open rate, response rate, and conversion rate. With email marketing, you can add custom fields such as names, phone numbers, websites, addresses, coupons, and so much more. This only takes a matter of seconds but makes a tremendous impact on your marketing.
Reason #4: Your Competitors Are Doing It
Yes, they sure are- and they probably have a few of your customers subscribed to their email list. The longer you wait, the better they get and the more emails they acquire. Don’t let your customers slip through your fingers and fall directly into the laps of your competitors. Make sure you are at the head of your industry.
Wrapping It All Up
At the end of the day, whether you are a B2B business or a B2C business, relationships are important. If you can’t afford to connect with your customers and clients via Facebook, Instagram, Twitter, etc. then stop neglecting your email marketing and start building stronger relationships with your customers- before somebody else does.