Advertising is the soul of a business. People get to know about your products or services through promotion. One of the most effective advertising methods is Email Marketing. Our friends over at www.findmyworkspace.com discuss why your business needs to engage email marketing now.
Being a startup entrepreneur sometimes means that you have to cut corners once in awhile, given that your business could usually experience shortage in manpower and resources in general. However, cross-cutting should not also mean cutting off your efforts to gain more revenues and leads. Startups need that more than ever, especially when faced with a difficult period.
Sustaining a business nowadays is relatively easier with the available technology. Many business conduct their transactions online and even find most of their customers online. There are a lot of channels to do this – there’s Social Media, Blogging, and Email Marketing.
Over the past years, many digital marketers had been saying that Email Marketing is more or less doomed because Social Media is a force to be reckoned with. However, around 25% of Fortune Business-to-Business companies still opt to maintain an Email Marketing campaign in 2013, and here are several reasons why you should too.
1. Helps boost brand awareness
Even though many entrepreneurs found success through Email Marketing, there is still a possibility that some customers would ignore your email. That’s a reality. Some might read it and respond, some will just open it, while some would just directly mark it as “read.” However, even without actual converted sales, Email Marketing still gets your business some leverage just by making your business known to your market.
The thing is, you can’t really anticipate direct results because some leads might just need to be more acquainted with your services and products before they decide to buy. And at least with Email Marketing, you can introduce your services over and over again until they are well aware of the benefits of your offers.
2. Generate leads and revenue for your business at a low operational cost
Generating more leads and sales is always a big consideration in any marketing effort. Unlike other types of marketing, email is a less costly campaign but can bring in a higher return to investment (ROI) rate. According to a study by Campaign Monitor, every $1 spent in an Email Marketing campaign brings over $38 in ROI.
Furthermore, some marketing studies suggest that Email Marketing is even more effective than Social Media and Search when it comes to actual conversions.
3. Connect with leads and customers at a more personal level
And this is the reason why Email Marketing enjoys more conversions compared to Social Media marketing. In Social Media, your public posts may reach a lot of people all at the same time, and because it has to fit to the needs of the general public, you are more or less limited to post a generic ad. With Email Marketing, you can tailor your message depending on the type of email list that you have segmented. Each message also goes to the personal inbox of your customer, not like in Social Media wherein posts are considered a one-size-fits-all thing.
In a metric study by McKinsey, Email is 40 times more effective in gaining more customers compared to Facebook and Twitter. MarketingSherpa also reports that 72% of people would actually buy a product when they receive it through a promotional email content, compared to only 17% in Social Media.
Furthermore, email marketing also allows you to connect with dormant leads or inactive customers that may just need a little push to consider your products or services once again.
4. Allows you to send more types of content
This can also be done through Social Media, but it is only through emails where you can send newsletters, and even notices about privacy updates and other pertinent information that should rather be read privately by your customers. In fact, 83% of Business-to-Business marketers make use of email newsletters as part of their overall Content Marketing effort.
Furthermore, emails also allow you to put up snippets of a new blog, press releases, and even freebies such as webinars and e-books that can help you draw out more leads. It is also important to remember that Email Marketing is not always about promotional activities, but it should also present informative content as well.
5. Helps you get to know your market better.
Email Marketing tools can help you track your campaign progress easily, and it can even help you monitor your customer’s response and buying patterns.
Some email marketers even conduct an A/B testing program to determine which offer or type of messaging is most effective. Results are then used to create better and highly-targeted emails for the next run of the campaign.
Emails can also be classified according to available demographics in your database. You can segment your message according by age, purchase history, location, and even special days such as birthdays. Many marketers actually take advantage of birthdays as an opportunity to offer something special for the customer – like a free shipping offer, or an exclusive discount.
Because of this possibility, personalized emails can increase customer engagement by 74% according to eConsultancy, and highly-targeted emails generate 58% in revenue, according to DMA.
Despite what doomsayers say, Email Marketing still continues to be a relevant and highly effective marketing strategy online. This is mostly because of its more personal nature which allows entrepreneurs to know their customers better and tailors their products and messaging according to a customer’s need.
Furthermore, many people STILL use email. According to a PEW Research, 92% of online adults use email while a McKinsey & Company metric also claims that employees spend 13 hours every week in their email inboxes. So the notion that only Social Media can reach many people at once is not entirely true, as this could be achieved through emails too.
Launching an Email Marketing campaign however comes with bumps along the way. First and foremost, you can’t really expect fast results especially if your business is still starting out. Second, you might also need a little help from your Social Media campaign and website to gather enough email subscribers to form an email list. In other words, you need all the leverage you can get to ensure your success in Email Marketing too.