Email marketing allows your company to reach millions of prospects or customers on a global scale with a very minimal budget.
It allows for personalized messages that can be sent to your target audience at the right time and at the right place.
This blog will focus on the basics of email marketing and the main benefits your business can derive from it.
- Email Marketing in 2020
- What Is Email Marketing?
- How Does Email Marketing Work?
- The Top 8 Benefits of Email Marketing for Startups and Small Businesses
- Implement Email Marketing for Your Startup or Small Business
Email Marketing in 2020
With the emergence of artificial intelligence, visual content, chatbots, and lots of other digital marketing channels, you may think that email marketing is dead.
You may ask yourself why would someone opt for email marketing when there are new and innovative ways to communicate with your target audience?
Well, if you’re nursing such thoughts, perish them!
To this day, email marketing is still excellent and it’s possibly the best marketing channel for your business. Recent data shows that email marketing is the most reliable marketing medium and the one that generates the highest return on investment.
What Is Email Marketing?
In simple terms, email marketing allows your company to promote your business through the use of emails. It provides your company with an opportunity to contact new prospects, build a relationship with current customers, and constantly interact with your customers.
All in all, it’s used to encourage prospects to purchase, and transform one time customers into repeat customers.
How Does Email Marketing Work?
Here are the basics of the email marketing process — You create a list of email recipients, draft customized emails and send them based on a schedule with the help of an automated email marketing system.
However, to implement successful email marketing, you must have an effective email marketing strategy. If you succeed at effectively strategizing, implementing and executing your email marketing, enormous benefits await.
The Top 8 Benefits of Email Marketing for Startups and Small Businesses
Companies across the globe use email marketing for different reasons. Here are some of the most prominent reasons startups and small businesses should invest in their email marketing.
Every customer is different and has different preferences. Email marketing helps businesses segment their audience and send personalized content to them. From crafting email content that resonates with the customer to delivering them at the right time, email marketing does everything to strengthen customer engagement.
Email marketing is a cost and time-effective way to communicate with both potential and existing customers. Implementing an effective email marketing strategy makes it easy to automate your sales cycle. With a collaboration of personalized communication and automated emailing, your company will be able to improve the customer experience for each customer while increasing efficiency.
Improve Brand Metrics
Email marketing helps build your company’s awareness, reputation and many other brand metrics. Through effective email marketing, companies are able to send relevant information to their customers which is likely to be of interest to them. This is likely to encourage customers to perceive your brand favorably which will result in long-term benefits.
Capture More Leads
One of the main goals of email marketing is generate leads. According to digital marketing professionals, email marketing is one of the best marketing techniques for brand awareness and boosting conversion. Marketers create personalized campaigns and lead nurturing strategies to automate and improve their lead generation. As email retains the highest ROI, it is still one of the most preferred lead generation techniques by modern marketers.
Expand Your Reach
With over 3.9 billion email users worldwide, it is clearly the marketing medium with the best reach. It allows you to contact almost all of your target audience on a global level. With such a large audience, your company can segment and filter these audiences in order to target the the most qualified audience. This gives you the ultimate results for each dollar and hour spent on your marketing.
Increase Initial Purchase and Repeat Purchase
The main motive of email marketing is to generate sales. For companies looking for an effective way to increase sales at a fraction of the price of other marketing mediums, email marketing is the best option. Emails with relevant content and alluring offers entice customers to make a purchasing decision. According to marketers, email marketing generates higher responses and influences more prospects than traditional channels. Thus, it plays a very important role in boosting the business’s overall revenue.
Generate a Favorable Return On Investment
Email marketing has a relatively low cost compared to other advertising models. Traditional marketing channels require considerable investment upfront. With email marketing, you can generate a huge return on investment (ROI) with a very minimal investment. Studies show that companies can generate a return on investment of approximately 40$ for each 1$ spent on email marketing.
With the many email marketing metrics, it is difficult to overstate the importance of email marketing. These metrics help businesses monitor the responses on a weekly or monthly basis and give them the opportunity to continuously improve their strategies. Some of the many metrics digital marketers use to evaluate digital marketing performance are open rate, click-through rate, unsubscribe rate, conversion rate and more. Email marketing metrics helps businesses set a benchmark to create realistic goals and measure results.
Implement Email Marketing for Your Startup or Small Business
There are a couple of ways to implement an email marketing strategy for your business.
Performing Email Marketing Yourself
For those that find themselves with a tight budget, performing email marketing themselves may be their only option. To do so, it is necessary to have basic email marketing skills, use certain email marketing tools with basic functionalities that do the trick and use online resources to guide you through the process.
Here are some tools that can get you started with email marketing automation:
Hiring a Consultant or Agency
For most business persons, it is almost impossible to strategize and execute a comprehensive email marketing campaign while looking after their core business activities. This is why hiring a digital marketing agency to perform your email marketing can be a great option. Experienced digital marketing agencies understand how to strategize, implement and execute all the important elements of email marketing to generate the best possible results.