If you are new to what Email marketing can do for your business, there are multiple benefits to selecting email marketing as part of your marketing efforts. But, before we begin, let’s start with a definition.
What is email marketing?
Email marketing is a marketing strategy that involves sending emails to your selected target audience. It is considered to be one of the best ways to turn prospects into clients.
Your email marketing strategy can encompass sending an initial email to your potential clients. It allows you to build a relationship with your audience and steadily build loyalty to your brand.
Key takeaway: Email marketing offers a direct method of communicating with your target audience.
What are the business benefits of email marketing?
For small businesses that don’t have sizable marketing budgets, email marketing can drive impressive results. Below are five of the biggest benefits small businesses can gain through email marketing:
High Return On Investment
According to reports email marketing has an ROI of 4200% – that’s four times higher than any other digital marketing strategy. And if you implement techniques like A/B testing, and sticking to a regular schedule, of following up, you can increase this number.
There are several ways why email marketing provides value for small business owners:
- Email marketing increases business revenue. The most apparent way email marketing helps provide a positive ROI for small businesses is to increase revenue. Email allows you to reach a broad and willing audience while also keeping costs relatively low, leading to positive gains.
- Email drives more traffic to your business’s website. Members of your email list are more likely to be qualified leads, which means that this traffic is relevant, increasing conversion chances.
- Email marketing can improve sales conversions. Marketing emails, and to that extent, transactional emails, work well as part of your lead generation campaigns, i.e., email marketing is an effective way to improve sales conversions.
- Email helps you improve your brand awareness. Increasing brand visibility and connecting with your email list are essential for sustainable growth over time.
Email marketing makes it easy to create personalised content.
The further we get into the digital age, personalisation has become essential. Rather than just being served random ads, consumers want marketing to be more personal and tailored to their needs and preferences.
Email marketing allows you to create targeted campaigns by leveraging data about your email list, meaning, you can provide more personalised content for your readers.
It’s easy to personalise your message to create effective emails with email marketing. With the data collected, you can provide more engaging content that will improve both your open and click-through rates as well as your overall conversion rates.
If you’re new to email marketing, creating personalised content can feel daunting and overwhelming at first. However, personalising your content can be done using your prospect’s first name. According to research adding a subscriber’s first name to the subject line can increase email opens by as much as 26%!
Time and money savings
Most business owners are short on time, and even money. This why email marketing is more favourable to business owners -it’s cost-effective.
When you set up a new email campaign, once you set up your list, determine your offer, structure and write your email, and send it to your target list. You can engage with your audience and create new customers even while you’re working on other aspects of running your business.
Of course, you have to track your campaigns and tweak things from time to time, but email marketing is one of the most hands-off marketing strategies there is.
Also, email marketing is relatively inexpensive, especially when compared to other methods, like paid advertising. You can develop a professional and personalised email campaign that goes to thousands of prospects for very little money spent.
Stronger relationships with customers
Marketing involves illustrating value to clients and showing your audience how they can take the next step with your business. Once someone is added to your email list, you have a chance to send them useful, relevant content.
Every email you send to your customers shouldn’t always involve selling them the products or service your business provides. You should provide value within the first initial email you send to your prospects.
That value doesn’t always have to solely focus on promoting a sale or offer – it can be information that you think your prospects can find helpful and useful for their business. For example, you can create an email that highlights a customer’s pain points.
Over the last couple of years, it has been a challenge for small businesses and even in today’s economy even more so, for businesses to grow their sales. But email marketing is one of the best ways to grow your sales, especially if you’ve noticed a drop in website traffic or leads.
Some decision-makers will make a buying decision if they receive a well-timed offer. Adding urgency to your offers, and offering generous sales or free shipping are excellent ways to convert a prospect to a client.
Furthermore, email marketing can be a great way to upsell current customers. You can also re-engage customers who haven’t purchased in a while.
By creating personalised and targeted offers for consumers on your list, you can motivate your audience to purchase from your business.
Key takeaway: Email marketing is cost-effective, easy to use and boasts a high ROI, making it a wise and respectable choice for small businesses looking to stretch their marketing budget.