“Why should I use email marketing to promote my business?”
This is a legitimate question. After all, consumers can discover your brand via organic search or paid ads that redirect to your website, and they can stay in touch with your brand on social media.
So…you can pretty much tick “acquisition” and “retention” off your list…right?
Time and time again, studies have crowned email as the most effective device for both the tasks of customer conversion and retention — especially for small and mid-sized businesses. If you aren’t already taking advantage of this oft-overlooked tool, you are seriously missing out.
Why is email a more effective marketing tool than social media?
Email campaigns are generally more effective than social media campaigns because, with email, your message is directly delivered to a consumer’s mailbox. With email, your chances of consumer engagement are waaaay higher than if you publicly post a promotion on social media.
For example, take a look at the engagement rate (per post per follower) for each of the top social media platforms. (These stats are pulled from Rival IQ’s Social Media Industry Benchmark Report, originally published in March 2020).
By comparison, consider the email open and click through rates provided in MailChimp’s Email Marketing Campaign Stats from October 2019:
If you want people to know about your new product launch or special offer, then email is a much better route to ensure that people actually receive and read your message.
Is email worth the investment — of both time and money?
In response to the above stats, you might be thinking, “Well, email may be more effective than social media…but social media is free.”
Sure, the process of creating and delivering an effective email campaign is more costly and time-consuming than posting material on social media…but the return on investment certainly makes it all worthwhile.
According to the Data & Marketing Association (DMA), the ROI for email marketing has increased from £32 to £42 between 2018 and 2019. (I personally can’t wait to see the 2020 report, because this number has likely grown even higher.)
In US Dollars, this equals a jump from $40 to $53 — in just one year.
Digital marketers love email, because this tool consistently delivers a strong ROI when compared to all other marketing techniques. If you want the most bang for your buck, then you definitely need to give email marketing a try.
But wait…will my subscribers even want to hear from me?
Yes. As long as you don’t send too much content to their mailboxes.
A poll from V12 found that most consumers prefer to receive brand updates once a week. Moreover, 40.3% of consumers stated that they would reconsider unsubscribing to a mailing list if they could opt for less frequent communications.
So reach out…but don’t flood your subscribers’ inboxes. They love you, but they don’t love you *that* much.
When stepping into the world of email, many brands also make the mistake of solely utilizing email as a tool for sending promotional information and discounts. While consumers may initially register for an email list to receive special offers, studies show that people are beginning to expect more from a brand’s email campaign.
In fact, the 2018 Adobe Consumer Email Survey found that 39% of people said they would prefer if brand emails were less about promotion and more about providing the reader with information.
In conclusion — people WANT to hear from you, and they actually want to establish some kind of personal connection with your company.
So if you want help strategizing your next email campaign…