Are you currently using email marketing in your small business? If not, you might want to reconsider.
Email marketing is one of the most cost-effective marketing tools to engage with your current customers and attract new ones. It also has an outstanding return on investment (ROI) – 4400% ROI to be exact.
Need more convincing on the importance of email marketing? Here are our top five reasons why email marketing is a valuable asset to your small business.
It’s Cost Effective
Email marketing is more cost effective than other traditional marketing efforts. You don’t need to pay for printing out posters or purchase a booth space at a trade show.
Did we mention email marketing also has a great ROI?
Reach the Right Audience
Email marketing allows you control over who receives your messages. This is done through segmenting your contact lists. Segmenting your lists allows you to send specific messages to customers based on specific data points including lead status, product interest, or demographic.
This level of target marketing leads to a more customized experience for your customers, which can lead to a higher conversion rate.
Build Creditability with your Audience
One of the most important aspects of email marketing is building trust and credibility with your audience.
You can build this credibility right away with your customers when they sign up for your email lists. Be sure to set clear expectations on what emails the customers will receive from you and the cadence in which those emails are being sent.
This transparency is very important as it allows you to further strengthen your relationship with your customers and will ensure you have a healthy email list with a low opt-out rate.
Stay Top of Mind with your Target Audience
Emails are a great way to showcase yourself and your brand as a leader in your industry. This can be done by sending an email when a new blog post is available on your website or when your company has been featured in a publication.
Sending emails to your target audience on a consistence basis will allow you customers to keep your brand top of mind. This is especially important when it becomes time for a customer to make a purchase. When they go to purchase, they’ll think of your brand first. Remember it’s much more cost-effective to retain customers than acquire new ones.
Generate New Leads and Nurture Existing Leads
Email marketing is one of the best ways to generate and nurture existing leads.
Let’s say you recently went to a networking event and someone expressed interest in your product but was not ready to purchase yet. Instead of letting that lead become cold, you can leverage email marketing to convert that lead into a hot lead through automated and targeted email campaigns.
Track Email Metrics
It’s important to know what your audience is interested in. Tracking email metrics allow you to see what is resonating most with your target audience. Some important metrics to track include email open rate, click through rate, conversion rate and opt-out rate.
If you notice your emails do not have a high open rate, it might be worth looking into how you can improve your emails subject lines to further increase that number.
Tracking email campaigns and email analytics will allow you to further improve your overall email marketing strategy.
