There’s a huge misconception that email marketing is an old marketing method from a bygone era. However, though it predates Facebook, Instagram, and Snapchat, email still remains a crucial part of a successful marketing strategy.
From its inception, email has continued to evolve. It transformed from being a means of simple messages between academics to a global communication channel. According to Statista, global email users amounted to 3.7 billion and the number will grow to 4.3 billion in 2022. That’s half of the planet’s population we are talking about here! These numbers obviously justify that email marketing is a crucial means of marketing channel and you must not miss out.
There are countless numbers of benefits that come from email marketing that businesses could never ignore. Certainly, we won’t be able to note all of them in a single post, however, we can discuss the top 5 benefits of email marketing that every business owner must be aware of. So, let’s dive straight in!
Measurable results: Knowing what works is great. By using email marketing, you can analyze campaign metrics by making use of various analytic software. You can effortlessly test different content, template, images, and subject lines to determine which one is most efficient. This enables a marketer to optimize future campaigns which increase the campaign effectiveness.
The most often measured metrics among campaigners are open rate, bounce rate, click-through, and conversion rate. However, if you are looking to measure more crucial numbers such as ROI, subscriber lifetime value or revenue per subscriber, you can do that effortlessly as well. If you see an email with a great click-through rate, you can analyze the data for your future campaigns. For instance, if you find out an email with a particular subject line is performing really well, you can write similar subject lines for your next campaign for drawing similar results.
The insight is key to determining what is working and what needs to be improved upon. And out of the multitude of online marketing strategies, email campaign happens to be the simplest and most accurate way to measure campaign data.
User preference: When it comes to communicating with a business, customers tend to prefer email most of the time. According to studies conducted by MarketingSherpa, more than 55% of prospects prefer email as the most favored way to receive promotional content or business updates from companies with whom they are interested in doing business. Less than 25% of participants preferred social media, and about 17% prefer SMS.
The number definitely suggests that it is logical for businesses to invest resources into concentrating more on email marketing. In fact, according to Salesforce, 74% of marketers already use email to drive more sales and 21% of them are considering email campaigns within the next few months to drive more revenue. If you are still neglecting this, you are making your competitor’s life easy.
Strong Return on Investment: This one is perhaps the most appealing benefit of email campaign for a business owner. You don’t have to carry any print cost, no advertising rate, and no media space costs as well. The cost of email marketing is much lower than compared to other forms of marketing methods. Besides low cost, the return on investment of email marketing is massive. A well developed and strategically placed email marketing will help you to earn more cash. According to Nielsen DMA, for every USD 1 spend on email marketing, a business owner can expect to receive USD 32(2018), isn’t it massive? There are more notable benefits of email campaign, however, this one definitely tops the chart for keeping your business afloat and profitable.
Pertionalization: Open rates are the most reliable ways to determine how great the email marketing strategy is working. The average email open rate is about 20.81%. On the other hand, the average open rate for welcome email is 82%. Why the massive change in numbers? Well, the thing is, welcoming messages are more personal and clients love personalized emails. According to Lifecycle Marketing, emails which hold personalized subject lines generate 50% higher open rates. So a great email marketing tactic is to add personalized your subject lines and greeting messages to add recipient name when you deliver the email to your prospects to guarantee maximum open rates.
Environmentally-friendly: Global warming is real and people are scared about what the future holds. Email marketing is better for the environment and can help to reduce global warming. How? Well, cutting down a tree has a tremendously negative effect on the global environment. However, when you are using emails, nothing is getting printed, as users getting the content in virtual space, so no tree is dying for your cause.
There are numerous benefits of email marketing. Mainly, it all turns down to the fact that this marketing method is affordable and above all, offers incredible results. With email marketing, you can enforce your brand presence, grow your business and drive revenue without breaking your overall marketing budget in one single stroke. Email marketing is efficient and effective, and should be an integral part of business marketing strategy, not an option.