Why is email marketing important?
Email marketing is an important digital marketing strategy that helps businesses convey messages to their subscribers. Keeping them up to date with products, services, and what’s going on with the company.
Why is email marketing important? Email marketing boasts a 4200% Return on Investment (ROI) That’s a $42 return on every $1 spent. How many other marketing strategies can show those kinds of results? It’s not the sexiest and most popular. Mainly because it does require some work and strategy. More to the point you have to have something relevant to talk about in the emails to maintain the subscribers’ attention.
Customer Loyalty & Retention
Some of the best use cases and reasons to use email marketing are based on existing customers. 37% of people that responded to surveys have said that it is the most effective online channel for customer loyalty. It helps with retaining the clients that you’ve won as a business. You’re letting them know that it wasn’t just about the sale but that the benefits of being a customer continue beyond the purchase. This is where gathering their feedback can help you as a business do several things.
- Create a better customer experience for new customers just finding out about your business
- Find out more about the questions they had when trying to decide if you were the best business solution to solve their problem/need.
- Gather more information that helps you as a business narrow down who your ideal client is and the best way to find them online. The benefits to this are reflected in your marketing budget and the return you get on that investment.
- Find out if or when your product might fall short and address those concerns so that your customers feel heard. This goes a long way in retaining customers and the business that you’ve won. It is a lot more cost-effective to keep a client than it is to try to go out and replace them.
- Gather feedback on what additions to your product suite and or services that you could be adding. There are revenue opportunities in gathering that feedback. Why guess what would be the best thing to rollout next if you can fulfill the most popular requests.
Email Marketing will help you with Lead Generation
We’ve covered the benefits of email marketing to existing customers. Let’s dig a little deeper into the advantages of using it to pursue new customers and clients.
Email campaigns used for business to business marketing is highly effective at generating new business. 85% use it for lead generation. 78% for lead nurturing. Which is just another way of walking a potential customer through the buyer’s journey. Making them feel more comfortable and confident in your business being the right choice to solve their problem/need.
Consider that 77% of businesses use it to create and build on brand awareness. Putting themselves on the map in a competitive market and letting businesses know that they’re an option. Yes, you can post on social media platforms and hope that someone sees it in their feed as they’re scrolling by. An email in the inbox has a better chance of standing out and potentially getting you that window of opportunity to let them know what it is that you’re offering.
- If you have a potential customer opt-in to receiving an email from you. You’ve already started the process of qualifying them as a lead.
- A lead magnet where you’re providing quality information in exchange for the person’s email address is a fair trade. Specifically, when you emphasize quality information that they can benefit from.
- It is an opportunity to show your expertise and to educate the person on the topic that they’re most interested in getting answers to. This is a window of time that you don’t necessarily get with someone scrolling through on a social media platform feed. You get a genuine chance to show what makes you qualified and a great resource.
- The analytics and reporting that you can get from email marketing are extremely valuable. You aren’t just getting feedback from some random person and happenstance. You’re getting feedback via reporting and analytics that you can use to refine your product suite and Digital marketing message as a whole.
- Analytics on whether or not you’re targeting the right people and where you start to lose them in the process. An opportunity to take that person that your messaging resonated with the most and look to recreate that target customers in your marketing strategy going forward.
Email Marketing Conclusion
We’ve covered why email marketing is important as well as two types of situations where you can benefit from it as a business. Adding email marketing into your marketing strategy is not just adding an effective tool into the mix. It is adding one that will help you navigate the rest of the digital marketing strategies in a way that allows you to increase your results no matter the goal.
Email marketing is a great resource for established businesses to make sure that they’re spending their marketing budget wisely. It is also a way for new businesses to ensure that they have the information needed to start putting together a marketing strategy that will get them a return on their investment. The end goal for both is longevity and the ability to get more qualified leads into your business and opportunities to close deals that will benefit your business.
Winning new business and customers that you want to work with and then building a relationship with them that keeps them with you over time. That kind of customer loyalty and brand loyalty is what leads to you getting referrals. Free leads and opportunities that you didn’t have to pay for beyond taking care of the customers that you already have in-house. Those kinds of win/wins are what allow businesses to grow and compete in their market.
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