Did you know that email is one of the oldest and most effective marketing channels?
Email generates $42 for every $1 spent, which is an astounding 4,200% return on marketing investment, making it one of the most effective marketing strategies. If you are looking to grow your business or brand and sell more of your product, email marketing should definitely be a part of your strategy.
In this article, we’ll discuss how email marketing – and the usage of promotional emails – can help you to grow your business, and we’ll give you a few tips to help you get started with a successful email marketing campaign.
What is Email Marketing?
Email marketing is a form of marketing where you use emails to communicate, engage and build relationships and sell products or services to your audience.
An effective email campaign will help you keep your audience informed and engaged with your brand and its offerings and also help you convert prospects into paying customers.
Despite being one of the oldest messaging channels, email marketing has proven over and over again to be the most effective as it continues to generate an impressive return on investment for thousands of businesses who use it around the world.
Why you should consider email marketing for your Business
Businesses use email marketing to connect, engage and build a relationship with their potential and existing customers. You can use emails to inform and update them about changes in your business, offer promotions and coupons to encourage customer retention and loyalty.
Here are some other reasons why you should consider email marketing for your business:
1. Email helps you build credibility with your customers by sharing relevant and informative content in your newsletter.
2. A cost-effective method of communication: One of the most appealing benefits of email marketing is its affordability. The return on marketing investment in email marketing as shown in the study by Campaign Monitor found that every $1 invested in email marketing equaled a $44 ROI. And that’s an increase of almost $10 from the year prior.
3. Reaching The right audience: Email marketing allows you to hit your target audience wherever they are. People on your email list have one way or the other be in contact with your business, this makes them more likely to take action because they are not new to your business.
4. Increase Sales: Most customers 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 into a customer. Furthermore, email marketing can be a great way to upsell existing customers. You can also use email to re-activate customers who haven’t purchased in a while.
Now that you know some of the reasons why you should consider email marketing for your business, how do you get started?
How to get started with Email Marketing
The following three steps can get you started quickly with email marketing:
1. Establish your Email Marketing goals
It can be tempting to quickly want to get started with email marketing now that you know why you should adopt it for your business. But, before going ahead sending out emails to your customers, it’s worth taking a minute to think about your goals and what you want to achieve with email marketing campaigns.
Being clear on this will dictate:
● the type of email campaigns you send,
● who you target,
● the email content to write, and
● how you measure your email campaign success.
2. Choose an Email Marketing Service Provider
There are numerous email marketing service providers available like Mailchimp, Aweber, Sendgrid, SMBLeadsPro, etc. They all have their unique features and offers.
To choose the one that makes the most sense for your business, determine your email marketing goals, some unique features you need, the size of your audience or contact list, and your overall budget for your marketing program.
Your email marketing provider should be flexible and cost-effective.
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3. Build your Email list
What is the purpose of email campaigns without an email list?
To have an effective email marketing strategy, you need to have a solid email list.
To build an email list building, you will need to give potential customers a chance to give you their contact information.
A great way to do this is to offer valuable information in exchange for their contact information.
4. Key email marketing metrics
Your marketing effort needs to be analyzed to know how effective it is to your achieving your marketing goals.
Being able to narrow down the metrics you should track can prevent you from becoming overwhelmed and show you how your email marketing efforts are doing.
Metrics You Should Be Tracking
There are many metrics you can track when it comes to email marketing but these are the top email marketing metrics that matter most to your long-term success.
1. Open Rate
Your email open rate is the percentage of people that have opened your email. It’s one thing to send an email. It’s another thing to have the recipeients open it and read it.
Tracking your email open rate lets you know how many people are actually opening up your emails to read.
2. Clickthrough Rate
Your email’s clickthrough rate is the percentage of people who click on the links you’ve added to your email.
Tracking this metric gives you an idea as to how your subscribers are engaging with your email’s content.
3. Conversion Rate
Your email’s conversion rate is one step further from the clickthrough rate, it measures how many people clicked on a link within your email and completed a desired action. (e.g. made a purchase)
4. Overall ROI
The last and most important email marketing metric you should always measure is the return on investment, or ROI, of your email marketing campaigns.
This way, you know how much you’re getting in return for your efforts.
An email marketing strategy helps you retain and stay in touch with potential and existing customers, all while maintaining a reasonable budget.
Want to get started with email marketing but don’t know how? Our team of marketing professionals can help.
Contact us to get started.