In this digital age most all companies, large and small, are resorting to some form of email marketing to reach their existing customers. It is one of the least intrusive forms of trying to reach potential customers. Email marketing is not dead and is something you should consider implementing into your strategy. Here are some facts about email marketing...
Here are more reasons why you should consider email marketing
EMAIL MARKETING CAMPAIGNS ARE INEXPENSIVE
We will get the most asked question out of the way first; what does it cost? Email campaigns are very inexpensive compared to all the other various kinds of advertising and marketing. If you are a small business and have a tight budget, an email marketing strategy is a must! Considering it costs less than a few pennies to email thousands of leads in one shot… why would you not want to take advantage of this? Add up the costs of a quarter page magazine ad, or a 30 second radio spot and you will quickly realize that the costs of mass emails are just a tiny fraction of what traditional ad spaces cost.
Displaying your message in front of a large audience via email is a great tactic, but the one area these email CRM systems go an extra step above traditional ads are their ability to track how effective your message is to every single recipient!
On that note, the second reason you should have an email marketing strategy is…
Most all of the email campaign platforms, or CRM (customer relationship management) systems will offer a plethora of statistics and tracking data for the email messages that you send. They will track how many times the email message was opened, who clicked on specific links, how many people opted out from future emails and who did not receive the message due to a bounce (ie; undeliverable address). Having those kinds of statistics behind each message helps you gauge what messages are more effective to your customers. Some platforms will track how the user interacted and even what pages they viewed on your website.
Managing a complex email marketing plan can be a lot of time and effort. The time required to execute an effective email strategy can be too much for many small businesses, but that is where a digital marketing expert can be handy.
INCREASE SALES WITH A BETTER ROI
Have you ever bought anything online and noticed the tiny checkbox that confirms “I wish to subscribe to receive updates about future promotions via email”? If someone is willing to buy your product online, there’s also a good chance they would like to know about your next big sale. For those who are online shoppers, you likely get multiple emails every day about online stores who push promotions. Even though these constant sale emails drive me clinically insane, it takes a long time before I muster up the strength to click “Unsubscribe”. Most of your customers are likely the same, and when you combine a great email subject line with an unbeatable offer, you can capitalize on more conversions.
One study showed that over 67% of online buyers abandon their shopping cart orders before checking out. Think about that! If 2 out of 3 people never follow and purchase your product, your sales could be 3 times better! How does this relate to email marketing? Many online retailers have begun using abandoned cart email campaigns. They will track who has left items in their shopping cart and email them later that day with an even sweeter deal, like a 10% off coupon if they return to the website and finalize their order. You can't expect everyone to actually come back and purchase but an abandoned email strategy can be automated and is worth the effort to setup. If only half of those lingering orders were fulfilled, it's still nearly doubling your revenue and massively increasing the ROI of your website.
TIPS ON HOW TO GET STARTED IN EMAIL MARKETING
There are many email campaign management systems to choose from. We aren’t going to list the pros and cons of each platform, but we will tackle that in a later article. If you want to create an effective email marketing strategy you have start by establishing a primary goal. It may be to drive more traffic to a specific page on your website, sending a weekly or monthly newsletter to keep people updated, or offering a coupon. Whatever your goal is, make the email message valuable to them while being short and sweet! Put yourself in your readers’ shoes: would you read this email message or click DELETE?
The second step is determining results from the statistics your CRM provides. Sending out repeat emails without analyzing how effective they are does very little good. To get the most ROI from your email campaigns, know your interaction rates. If your potential customers aren’t even reading your email because the email subject line reads to much like spam (FOR A LIMITED TIME), the interaction will be virtually zero. These mistakes can be learned by trial and error. The moral of the story is take the time to study the statistics and reports for every email you send. Learn how you can improve your messages so you get more people to open and read them, get more clicks, and convert more leads into customers.
We hope to post more on this subject in the future and if you have questions, we would love to help navigate you in the right direction.