What is Email Marketing
Email marketing is an effective, direct way to connect with your leads and convert them into customers using targeted lead nurturing campaigns.
Email marketing uses emails to develop relationships with potential customers or current clients. Basically, It's the digital form of direct mail.
6 Benefits of Email Marketing in 2020 and Beyond
1. Improve Sales
According to Marketing Week, email marketing generates around $35Bin annual sales. Customers often act on impulse when they receive relevant email marketing messages.
2. Generate Traffic to Your Website
Engage your subscribers with links relevant to their needs and interests. This not only helps your subscriber but also drives traffic to your website.
3. Increase Leads
Not everyone who subscribes to your email list is ready to make a purchase right away. Email marketing helps capture their attention and nurture your leads using informative and useful content.
4. Create Cost-Effective Campaigns
Compared to other marketing strategies, email marketing is extremely cost-effective. The average ROI for email marketing is $38 for every $1 spent/. It's more affordable to send an email than other direct marketing methods such as TV, billboard advertising, magazine ads, and flyers.
5. Reach an Engaged Audience
The people on your subscriber list are either leads or current customers. This makes your email list an important asses you can use for your benefit over the long-term. With email marketing, you have more control over who sees your marketing messages. You can ensure your content is suited for specific segments which increases your conversion rate.
6. Track Important Metrics
A high open rate, lets you know your customers know and trust you well enough that they want to hear from you. A good click-through-rate (CTR) gives you an idea of how many subscribers took the time to read your email and clicked on links you included. Conversion another goal you want to track after getting them to open and click on a link in your email. Your email conversion rates tell you how well your call-to-action performed.
What Types of Emails Should You Be Sending?
There are several types of email campaigns which should be part of a small businesses email marketing strategy. These emails include:
Email Newsletters - Once a prospect signs up for your newsletter list, you have the unique opportunity to stay top of mind and nurture them along your sales process. In addition to marketing to prospects, email newsletters are a great way to nurture existing customers with news, events, new product or services, and to gain their feedback. You can also use newsletters to increase brand awareness and to repurpose published content.
Welcome Emails - Welcome emails build relationships with prospects by introducing them to your business without pushing them to buy something from you. According to Campaign Monitor, the open rate for welcome emails is on average 50%. This makes them 86% more effective than standard newsletter emails. Subscribers who read your welcome email are likely to read 40% more of your content] over the next six months. With higher open rates, welcome emails are the perfect way to kickstart your email marketing campaigns and boost your email marketing metrics.
Sponsorship Emails - If you want to reach a different audience to gain new leads, you might consider a sponsorship email. These are usually paid content you include in another company's email newsletter. Sponsorship email campaigns are part of a paid advertising campaign that allows you to focus specifically on a target market you want to reach.
Stand-Alone Emails - These types of emails can be sent to your entire subscriber list or segmented based on interests or behaviors. Creating a focused call-to-action is a great way to use stand-alone emails. You could promote a free ebook, announce an upcoming event, or offer a special promotion.
Lead Nurturing Emails - Lead nurturing emails help move your prospects along your marketing funnel. Once you set them up, they keep running to covert leads into customers. It's important to create emails appropriate to the needs of your customers based on where they are in your sales cycle.
Re-Engagement Emails - Sometimes a segment of your subscriber list might become stale and you need to re-engage them to re-establish contact. This helps bring your business back in the minds of your subscribers and gives you a chance to move them back into your marketing funnel. Sometime re-engagement emails cause your subscribers to unsubscribe. Don't look at this as a negative. When an inactive subscriber leaves your list, it improves your overall engagement rates your email reputation with internet service providers.
Transactional Emails - Transactional emails are sent when a lead takes a specific action on your website. There are many types of transaction email you can send such as buying a product, signing up to receive a free download, or registering for an online event. They are initially sent a thank you email with information regarding their transaction such as a download link, shipping details, or event login.
Co-Marketing Email - Co-marketing emails allow you to partner with another company for the mutual benefit of both companies. Sometimes this is for a special promotion or event. When sending these types of emails, be sure to make it clear to your subscribers you are partnering with another company to create this special offer. Mention both businesses and create custom graphics to help your subscribers visualize the partnership.
Email marketing Statistics
Email marketing is highly effective for all types of businesses. In case you need a little convincing before you invest your time and money into an email marketing campaign, here's a few statistics to show you the power of email marketing:
When sending email marketing messages to consumers, 59% of people say email marketing influences their buying decisions.
Email marketing delivers the best ROI over SEO and paid search. According to Econsultance/Adestra, 73% of businesses surveyed ranked email marketing as excellent in terms of its ROI
While open rates aren't a perfect metric to measure, they do work as a benchmark that can be tracked over time. In their 2019 Email Marketing Benchmarks, Get Response includes some useful data on open and click through rates:
- Average open rate: 22.86%
- Average click through rate: 3.71%
- Average unsubscribe rate: .21%
Start Growing Your Business with Email Marketing
Now that you know how email marketing can benefit your business and the types of email campaigns you can use encourage growth, it's time to start using email marketing to scale your business to the next level. To get started with a successful email marketing campaign that will grow your business in 2020 and beyond, you need to consider the types of content you want to offer your subscribers. You'll want to consider how you can grow your email list and what you can do to increase conversions over time.
Email marketing is one of those marketing strategies that tends to take a backseat. If you're among the small businesses who don't have an email marketing expert in your business, it's a good idea to work with a digital marketing agency who offers email marketing strategy. A digital marketing agency skilled in email marketing offers many benefits to your business:
- Grow your business with a quality strategy to build your email list
- Provide quality content to engage your target audience
- Help you convert subscribers into customers
Our email marketing services are priced affordably for small businesses and start at $300/month. We'd love to help you get started with your email marketing strategy and implementation.