Regardless of how long and tedious it looks to achieve targets with email marketing at the outset, it rules the world of marketing. Investing in it or perceiving it as a part of the marketing strategy can bring dividends for a company in several ways.
Read on to understand what email marketing is all about and the cogent reasons that make it important for businesses.
What Is Email Marketing?
In general, marketing refers to the process of selling or promoting products or services. Email marketing is one of the popular forms of marketing that relates to the use of emails for this purpose.
Speaking of email marketing, it consists of two elements. One of those components is a list of signed-up consumers who wish to receive promotional emails regarding the offers on various products from a brand. The other one is the content that the brand intends to send to its subscribers who are on its email list.
Why Is Email Marketing Important?
Email marketing is important for several reasons, especially in the current situation in the competitive business environment. Most marketers target higher outcomes with minimum efforts. Also, they wish to achieve business objectives within a fixed budget.
Email marketing has the potential to address these requirements as a single-source solution. While there are other options such as social media for this purpose, email marketing has an edge over the alternatives to it on several fronts.
7 Reasons Behind The Importance Of Email Marketing
According to a survey, more than 2 billion emails are sent daily for marketing purposes. This means that huge volumes of emails are sent by companies for promoting products and services. There is a long list of reasons for it.
Here’s a list of reasons that explain why email marketing is an important tool for business growth even in this day and age.
#1. Communicate In-depth Information
Unlike in the past, companies have several media choices for communicating information. The Internet is the commonest option among them. Others include print media, radio, television, and social media.
No doubt, these media play a major role in communicating important business information. However, nothing helps a brand communicate in-depth information about a product/service/idea as well as an email.
It provides ample space for a brand to communicate its message to its target audience. Methods such as IP warming make a positive contribution to it by scaling up the ability of a user to send multiple emails.
#2. Reach Your Target Audience
Patience and persistence are the two key requirements for succeeding in email marketing. Due to the long waiting time for achieving desired results, some companies, especially those that look for quick results, look for other options.
Despite producing slow results, email marketing has a major benefit. It allows companies the opportunity to send out in-depth communication to their existing business prospects. As a result, such customers are likely to further engage with a brand.
#3. Drive Conversions
The primary objective of a marketer in using email marketing is to draw the attention of customers towards the products or services of their brand. Along with it, they also seek ways to convert their potential customers into buyers. They curate and create the content of their advertisements accordingly to achieve this objective.
Compared to 0.5% of click-through that comes from a tweet, email delivers 3% of click-through rates in email campaigns. Also, email marketing influences 4.24% of visitors to invest in a product. On this front, it surpasses both search engines and social media.
These figures reflect the effectiveness of emails in driving conversions compared to its other alternatives. The above reason, coupled with the other reasons, indicates how email marketing is the tool that can take a business to the next level.
#4. Generate Higher ROI
Higher conversions brought in by email marketing mean that it brings more money for companies in the form of revenue. It accounts for 5% of the overall sales of most companies, thereby proving to be the king of marketing. Thus, this form of marketing leads to positive revenue generation results.
#5. Conduct Surveys & Collect Feedback
Collecting feedback is not only crucial from the standpoint of customer interaction and engagement, but it is also the key to tracking the performance of a brand’s product or service. Carrying out a survey also produces a similar result.
#6. Own Your Media & Contact Lists
Email marketing allows you to send images and videos that you think fit the needs of your target audience. This way, you also own your media.
Also, you need to work out a contact list to have the recipients to whom you send emails. You also own the contact list and can expand it by adding new customers to it for future marketing campaigns.
#7. Run Cost-effective Campaigns
Email marketing is a cost-effective means to run marketing campaigns. It allows you to send a high volume of emails at once to several users. This way, you can target several potential customers as well as keep in touch with the existing ones. Either way, it creates a win-win situation.
Email marketing is an indispensable tool for carrying out successful marketing campaigns. From cost-effectiveness to higher lead and generation, counting its benefits can inspire a deep reverence for it. If you haven’t paid attention to it, considering it will help you achieve targeted outcomes.