While there is an initial cost to set up and implement the email marketing system, its maintenance costs are negligible. If the business opts for email marketing automation, there will be some costs associated with it. However, the return of investment (ROI) is very high with email marketing. Surveys indicate that the ROI is often as high as 3800%, or 38 times the invested amount.
Let us first consider the benefits of email marketing for small businesses:
While there is an initial cost to set up and implement the email marketing system, its maintenance costs are negligible. If the business wishes to automate aspects of the email marketing process there would be some costs associated with it. However, the return of investment (ROI) is very high with email marketing. Surveys indicate that the ROI is often as high as 3800%, or 38 times the invested amount.
Reach a wider audience
With the proliferation of mobile devices and the availability of the Internet, a huge section of society has an email account and most of them are active users. Surprisingly, fewer people have a social media account than an email account. Therefore email marketing opens up the door to reach a much wider audience and has more formatting options.
Ease of use
Email marketing is easy to execute. It is easy to track previous correspondence. With a low investment rate and minimal technical skill, an email marketing system can be set up and operated which is a key benefit for small businesses. It also does not require technical skills to run an effective email marketing campaign.
Importance of email marketing
Why is email marketing important? The effectiveness of email marketing and its ability to move people along the marketing funnel is significant. Let us consider some unique aspects of email marketing.
It increases outreach and visibility:
Emails can reach out to a very wide and targeted audience and ensure awareness of your business. An email could also contain graphics that would engage readers and direct them to your website. So yes, email marketing is a great way to reach a wide audience and make your brand or business visible to even potential customers.
Lead scoring could be set up to analyze how many readers opened a link from your email, how many clicked on a link, how many made a purchase and so on. Important metrics such as open rate and click-through rate will help you improve the effectiveness of your email marketing strategy. With each campaign, you can make tweaks and check if your campaign performed better than the previous one. Keep doing this till you reach the most optimum or effective email marketing campaign.
It is always good to build up your own email list. You can then also collect information such as the name of the person and other details that would help you reach out to the potential customer. Collecting your own data also enables you to segment this data in order to send personalized emails to your customers. You would be able to customize your messages and address it to them individually, making it more effective.
Importance of email in business
The importance of email marketing in business can be summarized in just two words: Increased sales. The purpose of any marketing strategy is to get individuals into the marketing funnel and progressively move them along until it results in a purchase. The nature of email marketing lends itself to this process. With lead scoring, profiling, and progressive email conditioning, you can get people into the marketing funnel. Emails require some action from the recipient, he will read it, forward it, engage with it, or in the worst case delete it.
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