24 Nov Is Email Marketing Important In The Current Business Climate?
There are various types of marketing, but email marketing might just be the single most powerful tool to take your business to the next level. It promises to deliver the highest Return on Investment across all marketing channels. However, keep in mind that your strategy should make room to adapt, grow, and innovate if it is to remain effective.
Surprisingly, only 66% of businesses use email marketing to promote their business and contact their customers or leads. Since this is the preferred mode of communication for most customers, businesses might think it wise to incorporate email marketing as their go-to strategy.
Email Marketing is Effective
Many businesses believe that email marketing is extremely important but not all trust that their email marketing strategy is effective.
An email should be personal, curated, and drafted with the customer’s objective and objections in mind to be truly successful.
What makes Email Marketing Successful?
2 ways to measure successful email marketing are the open and click-through rates.
Open rates usually vary between 11% – 50% whilst click-through rates do look like they need much improvement and stand at 0% – 10%.
Email Marketing Frequency
If you have just embarked on email marketing as a strategy for your business, sending an email once a week is justified. Rather than sending more, a good way is to first test if your content and strategy work.
In fact, frequency is not as important as content as you want to provide exceptional value when crafting an email. Your emails should be entertaining, informative, and engaging and you can measure this through your open and unsubscribe rates. If your strategy works, there should not be a limit to sending as many emails as you want!
Does the Size of your Contact List Matter?
Typically, we would think yes and if you do not have a lengthy list yet, do not be discouraged! You can begin to grow your list because the more contacts you gather, the higher your conversion rate.
An effective way to achieve this is to have a subscriber form in a well-placed position on your website that is easy to access. It is highly encouraged that you have the form on all the pages of the website to make it harder to miss. Email marketing also costs almost nothing, is effective, and more importantly, it works! It is a way to monetise your contact list.
Growing your business solely on third-party systems such as Google Ads targeting or Facebook Custom Audience might cost you a loss of revenue sources should they decide to turn off their features or restrict targeting options. While it is unlikely to happen, email marketing is a much more reliable method. Your contact list is akin to a treasure trove where you can choose whom to contact on your list at any time, anywhere at zero cost.
Who is Email Marketing For?
It is for all and any type of business looking to market their product or service affordably. For example, if you have a list of clientele who has previously purchased your product and are satisfied, they can now be called your target audience. You should then reach out to your contact list especially you have a new product in-store as they will be more receptive to making another purchase, having tried and tested your goods prior. The best part is you don’t need to spend unnecessary marketing dollars!
Another example is if you are offering a service like a clinic, remember to collect your customers’ contact details. These clients trust your business and are repeat customers. Similarly, they will be keen to hear about any ongoing promotions you might have to offer.
As such, it is quite plain to see that email marketing works for just about any business and every business, even B2B marketing!
Connect with your Target Audience
You can start to build trust and familiarity by sharing valuable content, insights and offers to your client list. One upside is that your client has previously shared their contact details and thus has some form of connection with you already. The key is to keep harnessing that connection as it can boost sales.
For example, if you have sold your customer a baby product before, perhaps it is time to show her your other collections 6 months later as it is common knowledge babies outgrow items quite quickly. This is a logical approach to connecting with your target audience and converting that email list into dollars and cents.
Email Marketing Software
The type of software or if you choose not to use one is completely up to you. There are many fantastic free tools or more sophisticated ones depending on the type of business you own and ultimately what you hope to achieve in the long run.
It may be well enough to use Gmail and Outlook to manage a client list of 50. You can send them emails from your inbox and use the BCC field easily and for privacy concerns.
However, if you already have an exorbitant contact list and are looking to grow it exponentially, it would be savvy of you to use tools like MailChimp, ActiveCampaign or HubSpot. They provide additional features and can automate lead generation as well as seasonal greetings.
The Best Time to Start is Now
If you are looking for that perfect opportunity to start your email marketing campaign, there is no time like the present. Do not get overwhelmed, start small and take it from there.
The first step is to collect a healthy-sized contact list, work on crafting content, and lastly test and test again. Soon enough, you will get a clear understanding of what gets the open and click-through rates and what gets unsubscribes. Keep perfecting and tweaking as you familiarize yourself with the ins and outs and remember that it should always be a work in progress.