How can email marketing grow my business?
Email marketing is a hot topic, and the issue isn’t going away. Marketing experts often cite the influence of new mediums for communications as a way to deflate the perception of email marketing as an effective method to reach customers. In reality, new outlets for communicating with potential customers ebb and flow; however, email marketing seems to have a certain staying quality that warrants some additional attention.
The personalized experience is now a modern industry standard. Businesses need to understand that the ability to personalize the shopping experience has more weight than the actual product or service being sold. Email marketing campaigns can speak to the audience in terms of their past buying behavior without being overly sales-y. Many business owners contend that email marketing is the most reliable marketing tool for growing a business, and this article will elaborate on how that happens.
Brown Creative Group’s breakdown of the basics of email marketing:
1. In the age of social media, why do people still use email marketing?
Some industry professionals speak about email marketing as if it’s a legacy format of a bygone era. This fact begs the question: Why do business owners still find value in email marketing campaigns? Social media is a great way to expose new audiences to your business’s products or services, but the level of engagement is limited. Email marketing grows your business by developing meaningful relationships with repeat customers.
The ability to build relationships with returning customers through an email campaign is certainly a key feature of this marketing strategy. Email still represents a unique point of contact for customers. Many people will react to an email campaign if it reflects their interests and avoids resembling spam. In addition, 34 percent of the global population still uses email, and it’s estimated that around 196 billion emails get sent every single day; ignoring this fact is just bad for business.
2. How can your business leverage the advantages of email marketing in your next campaign?
Converting customers is really about connecting with people by addressing their actual needs, and email is a powerful way to communicate that message. Business email campaigns should speak directly to the interests of the customer. The best way to leverage this point of contact with the customer is to understand their pain point and address it immediately. This process is called personalization.
People will respond when their actual needs are being addressed. You can even send out well-timed surveys to find out what your customers’ interests are before crafting a personalized email campaign. Invest in accurate feedback to get the high ROI your business needs to grow.
3. How can small and medium-sized business owners best evaluate the cost-effectiveness of a given email marketing campaign?
The costs of launching the email campaign are relatively easy to track, but how can the business evaluate the campaign in terms of the return on the investment? One great idea is to use promotional codes, which can be tracked. This will show the business owner how many people responded to the particular email campaign while also improving ROI. Another idea is to track the purchasing behavior of regular customers over time to see if an email campaign produces a spike in sales.
Three key reasons email marketing can grow your business:
Personalization: Business owners can personalize the customer’s experience through email marketing. This process allows the business to enjoy an unprecedented level of growth, which is driven by high-quality relationships with customers.
Customization: The custom experience of an email marketing campaign reflects the actual interests of customers based on previous purchasing decisions. People who forgot why they purchased from the business can be reminded when a holiday sale comes up when you offer them a discount, for example. This changes a potentially missed opportunity into a reason to contact them with a legitimate offer.
Tracking: The ability to track engagement with customers is effective at tracking the growth rate of the business based on these campaigns. The connection between the campaign and the growth of the business provides insights that can be leveraged in a variety of ways. This is an efficient method to identify return customers and create customized campaigns that speak to their interests. At the same time, one-time customers might return if they are given a special offer during a holiday sale through an email campaign.
Efficacy of Email Marketing
Email marketing is a popular tool, and the numbers help to explain this phenomenon. Compared to an organic online search using a standard search engine, email marketing is 19 percent more effective at acquiring customers and 44 percent more likely to retain these customers. Email marketing also outperforms social media by similar amounts. It is also significantly more effective than affiliate, referral, and mobile marketing methods. A 2016 business survey by emarketer showed that around 80 percent of respondents agreed that email marketing was more useful than the other surveyed techniques listed above. According to the Direct Marketing Association, email marketing returns around $40 for every $1 that was spent in the campaign; this high ROI rate is worthy of notice.
Brown Creative Group offers a range of digital marketing services, which include web design and customized articles that address major issues of concern for our customers. This article offers some key tips on how to use email marketing in tandem with social media and other communication methods. This is just one method of reaching customers in real-time.
Find out how to stay engaged with new and returning customers through email campaigns and other marketing strategies. There are many benefits to be gained from an effective email marketing strategy. These can be enjoyed by small and medium-sized business owners at the local level. More information is regularly sent out in our newsletter. Contact us today to find out how we can help you get started with a cost-effective email marketing campaign.