Email marketing campaigns… we all receive them. Some we enjoy more than others, but the luxury of being on the receiving end of a newsletter is that you can keep up to date on what a company offers or learn more from their expertise and insight and, you can choose to unsubscribe at any time.
Email marketing is a powerful way to connect with people. You can offer information that helps educate your subscribers, you can promote the products and services you offer, or even a combination of both. In fact the most effective email campaigns generally do include both elements – a little education and a little promotion.
Email marketing is a useful tool to keep in constant contact with your customers in a more personalized setting than social media. You can create messages that speak directly to your customer and that have past purchases and “related” or “suggested for you” product selection. Although this is all done by computers and scripts to the customer it feels more genuine than a simple name insertion. It feels like the company took the time to suggest thinks I might like and it feels like I am a valued customer of theirs. This will create value for your company as your customer will be more engaged and open to your promotion – whatever it may be (sale, event, sign-up, etc.)
So why do you need to be sending out e-newsletters; email is dead isn’t it? Wrong! So very wrong! In fact email works up to 40x better at generating leads and on average converts 17% higher than social media. Include the fact that 91% of users check there email every single day and it becomes pretty clear why, as a business, you should be investing in email marketing. Email marketing is a tried and true avenue that has continued to work for many, many years. People will continue to use email for the foreseeable future. The rapid expansion of the smartphone industry had not halted email services but rather expanded them with approximately 75% of smartphone users using their phones to read emails & newsletters.
As a business owner you should take advantage of the incredible ROI that email can generate. As email is a mostly free service (aside from any software you may use to manage such as MailChimp, AWeber, or many comparable programs) the actual costs is quite low. The Direct Marketing Association estimates the ROI for a standard sized business email campaign is roughly 4,300%. Meaning that for every $1 spent $44 of revenue is generated. Granted your numbers may be slightly lower, however, if you are even able to reach half of that you will be doing very well.
The following is a list of goals that any effective email marketing should aim to follow:
- First, raise awareness. (Introduce yourself to the customer)
- Second, stimulate a desire for acquisition. (Show them they want your product)
- Third, guide the reader toward conversion. (Turn prospects into customers)
- Fourth, create customer retention. (Provide follow ups and suggest additional purchases)
Did you know: Millennials are surprisingly the most receptive to email marketing? Although they check their emails less and consider it to be for official communication and for coupons from companies. According to a study done by AWeber 95% of Millennials who like a brand on Facebook also subscribe to their email newsletter. Of those 95% only 12% do not actively search for coupons from these companies.