In these days of toxic email spam and ubiquitous inbox clutter, many in the marketing world are quick to decry the demise of email marketing in their eagerness to move on to the next big thing. Savvy marketers, however, know that email is here to stay and will always be an effective tool for businesses to engage with their customers and get conversions.
Emails get read, especially when they’ve been solicited, i.e. the recipient has provided their email address to the marketer, effectively subscribing to receive email notifications. When an email has been properly addressed and given an enticing subject line, the recipient can’t help but open it to see what it’s about. This is a syndrome known as FOMO, or fear of missing out, and is a very powerful psychological draw.
1. Emails are Non-Intrusive
Anyone who’s ever done any cold-calling, or been the recipient of a cold call, knows how intrusive that type of marketing may be at times to a customer, especially if you’ve caught them at a bad time. With email, the recipient is free to read the message at their convenience and therefore more open and receptive to the content.
2. Email Marketing Can be Targeted
Effective email marketing is targeted, by segmenting your audience into different categories. Customer email addresses should be matched up with other pertinent information, such as purchase history, address and demographics. This way a marketer can avoid sending irrelevant emails to customers who clearly aren’t in the market for that product or service, such as offering hair care products to bald people or diabetic supplies to those who don’t need them.
3. Results are Easily Measured
Email marketing can be easily monitored and tracked to determine the success rate of various campaigns. Through the use of email marketing software, senders can see when emails are delivered, opened, clicked on and also when a customer unsubscribes. Making it easier to adjust and tweak a marketing campaign in order to increase its effectiveness.
4. Building Customer Relationships
Did you know, email marketing is more effective than social media at building and fostering relationships with customers? You can do this through a drip campaign, wherein you periodically send out useful information to help customers better utilize your products, information on how to contact customer support, and tantalizing glimpses of what new products are on the horizon. Over time you can build trust and brand loyalty, so that when the customer is ready to purchase again, they’ll be more responsive to one of your call to actions.
5. Cost Effectiveness of Email
Even with the start-up expenses of purchasing the software, template designs, images, copywriting and so forth, email marketing is one of the most cost-effective forms of marketing in existence. And once an email marketing campaign is up and running, maintenance costs are minimal, whereas the cost to keep running a print or digital advertisement, for instance, is cumulative. By some accounts, ROI for email marketing has been estimated at around $40 for every dollar spent. And in a recent study by McKinsey and Company, email was found to surpass social media’s conversion rate by a whopping 40x.
6. Effective Tool for Sales Campaigns
Email marketing is especially effective for sales campaigns, whether you’re having a sale or promotion, or introducing a new product. Starting weeks before the event, marketers can use clever emails to build anticipation leading up to the big day. Even if the recipient doesn’t actually open every email, seeing it in their inbox will keep the event — and the business — top of mind on a daily basis.
Email marketing can also be used for lifecycle campaigns, by keeping track of customer purchases and offering them special deals on products precisely when they’re in the market for them. Whether it’s supplies, servicing or a replacement appliance or product, you can swoop in and get the sale before they even think about looking elsewhere.
Of course, any tool is only as effective as the craftsman who wields it. The success rate of email marketing depends on a number of factors, including time of delivery, subject matter, the sender and the message. Email messages should be timely, targeted, relevant and well crafted. Those who fail to adhere to these tenets will often complain of a low success rate, while those who follow them will continue to reap tremendous rewards, now and for many years to come. Learn about 5 common mistakes local business owners make in email remarketing and how to avoid them in our past blog post here.