According to Forbes, email marketing is still the best tool to take your business to the next level.
Email marketing has a wealth of advantages and potential still to be explored by savvy entrepreneurs.
A well-planned strategy developed by experts in digital marketing will ensure your business gets results. So how successful is email marketing?
According to studies, email marketing has a high ROI compared to Google AdWords and social media organic and paid ads. Other email marketing surveys cite an open rate of 21.80% with a click-through rate of 2.78%. Other studies say it’s up to 40% more successful than Facebook or Twitter ads.
What is Email Marketing?
In a nutshell, email marketing is sending an electronic message to existing or potential customers. Either advertisements for products or services, to request business and with the ultimate goal of harnessing sales.
Here are a few examples of email marketing to put you in the picture:
- Newsletters: This is one of the most common ways to market to existing or new customers. Newsletters can provide subscribers with news and knowledge about your products and services.
- Promotional emails: Promotional emails encourage new sign-ups, drive sales and make those on your email list aware of new products and services. This type of email marketing often uses special and exclusive offers, the chance to cross/sell along with driving the sale of new offerings.
- Acquisition emails: Acquisition emails can help your small business acquire customers who have opted to receive your emails but have not yet converted into customers. By creating attractive offers and informative content, you can show those in your email list the value of becoming an active customer.
- Retention emails: Keeping hard-won customers is crucial. So, by sending retention emails to customers or subscribers that might not have interacted recently, you can ensure they are kept in the loop by using this effective email marketing strategy.
It’s worth understanding that email marketing is an efficient tool for lead generation or promoting offers and crucial for generating marketing effort ROI.
Email marketing generates significant ROI
The success of email marketing is pretty much a given when email marketing, along with content marketing and SEO, was found to generate the highest return on investment, with over a third of those surveyed reporting as much.This beats other forms of marketing, including paid search marketing Google AdWords, organic social media ads and paid social media ads.It’s unsurprising, therefore, to discover that more than half of the worldwide marketers surveyed reported an increase in budget across content marketing, SEO and email marketing.
How Successful is Email Marketing?
The medium of email has been part of businesses marketing campaign strategies now for well over two decades.
Although the email system has developed dramatically since its inception, some still wonder about its success in a world with new developing technologies.
However, its success is still very much with us, as many with industry knowledge can testify.
Global email users to top 4.6 billion by 2025
According to business statistics giants Statista, the number of global email users is expected to top a staggering 4.6 billion by 2025. An increase of 2.6 billion from 2020. The good news is that according to their research, online email advertising has seen an impressive higher click-through rate than social media.
According to email campaign giants MailChimp in a recent survey, the open rate across a huge range of industries is an impressive 21.80%, with a click-through rate of 2.78%. So it’s evident from many industry specialists that email marketing is a successful way of marketing to your existing customers and potential new clients.
What Are The Advantages of Email Marketing?
It’s no wonder that the success of email marketing has many advantages over other types of marketing. Any entrepreneurs in Brisbane adopting a robust email marketing strategy or employing the talents of the best local digital creative experts can expect to see sales grow, generate new customers and help retain an existing customer base.
Here are ten of the best advantages of creating an email marketing strategy:
- Collect feedback and surveys to develop products and services
- Communicate directly with your audience
- Compile short notice and ‘easy win’ marketing campaigns
- Create personalised content
- Generate leads
- Increase sales
- Promote website traffic
- Low-cost marketing effort
- Provide customer value
- Increase brand awareness
Social Media vs Email Marketing
Although it’s classed as one of the oldest forms of digital communication, emails are in pole position when it comes to user engagement. According to entrepreneur and general guru Neil Patel, email marketing is, in his own words: “still ranked as the most effective marketing channel, beatingout social media, SEO, and affiliate marketing.” Many marketers have believed that ‘cooler’ social media advertising is more effective than creating an email marketing strategy.The amount of attention social media receives is not surprising, but the claims that it is more effective are not strictly true.
Email marketing, according to many marketers and professionals, is often the cornerstone of the best marketing campaigns. The most obvious reason emails have the edge on social media is that a subscriber base has already shown interest. Not only that, but some satisfying stats back up email marketing effectiveness vs social media. Email marketing is up to 40 times more effective than Twitter or Facebook, according to a recent study carried out by McKinsey & Company. The same study also shows that customers will buy up to three times faster than when engaging with a social media post.
How Can You Measure Email Marketing Success?
It’s mainly about making sure you track, track and double track metrics such as open rates, user engagement, the amount of hard and fast leads it generates, and conversion to physical sales. The best digital marketing agencies can help you make your email marketing campaign count. Drop us a line to find out more.
