Should you invest in email marketing now?
Is it time yet?
For many, this is a love-hate relationship.
Maybe in part due to the amount of spam and phishing scams that come with it.
To put it in perspective, 45% of all emails sent, is spam.
45% in other words, equates to 14.5 billion spam messages. And this is on a daily and global scale.
But spam is being combated every day. With only 1 spam email getting a reply out of 12.5 billion sent.
Surprisingly, even with this low click-through rate, spammers manage to make $7,000 a day or $3.5 million a year.
Only going to show, email marketing to be a super-lucrative medium. But when done correctly.
Don’t be a spammer. No one likes spam, even the spammers.
But spamming shouldn’t cause you to leave a ton of money on the table.
Did You Know: 28% of consumers would like to receive promotional emails more than once per week?
And as much as the phrase, the money is in the list, is true. You’ve got to play to win.
So start by learning email marketing properly, by enrolling for a FREE account by GetResponse. And start growing your email list fast.
Below are some of the benefits, that investing in email marketing now, can have for your online business.
1. The Best ROI
Did You Know: For Every $1 spend on email marketing $44 is made in return? (Campaignmonitor.)
Email marketing’s return on investment(ROI), which often falls between 3,000% and 4,000%. Is by far the highest ROI of any other form of marketing. Such as Social Media, Organic Search, Paid Search..etc.
This is so because of the low cost of entry. I mean the only thing you need to pay for is a reliable autoresponder, and you’re set to collect and send emails.
Put simply, not including email marketing in your marketing efforts, is akin to leaving money on the table for others.
And you know what that means!
If you don’t drive your business, you will be driven out of business. B. C. Forbes.
2. Email Offers The Widest Reach
There are over 3.7 billion email users worldwide. And that number is expected to grow to 4.3 billion users by 2022. (Statista)
That’s already past half of the world’s population. Not to mention 1 billion of those not using email, lack electricity. (Citylab)
I know you might say social media does.
Not to take anything away from the third most effective form of customer acquisition and retention. But email comes first in that regard, and also as the most direct way to reach and interact with your audience.
In fact, people are twice as likely to sign up to your mailing list as they are to interact with you on Facebook.
Best of all, email allows you to reach the large minority of people who aren’t on social media or even plan to be.
What about on mobile you might ask. Well, you’ll be interested to know according to IBM, nearly half (49%) of all emails are read on mobile devices.
So this only means one thing, email marketing isn’t going anywhere soon. If anything, it’s growing. And you’d rather figure it out now than tomorrow.
Business Tip: Get Unlimited 30 days of FREE email marketing with GetResponse.com. No credit card required.
3. Email Marketing Grows Your Business
The primary purpose of any business when it comes to marketing is driving conversions and gaining paying customers.
And nothing compares to email, which is considered by many to be an excellent medium for generating business leads.
Did You Know: 89% of marketers said that email was their primary channel for lead generation? (Mailigen)
Optinmoster, in their 2016 – 2019 performance statistics report, found 66% of users made a purchase as a result of an email marketing message. While Facebook and Twitter accounted for 20% and 6% respectively.
In the same report, customer acquisition, for email, facebook, and twitter was 7%, <1%, 0% respectively.
Did You Know: 49% of consumers said that they would like to receive promotional emails from their favorite brands on a weekly basis?
And are you sending your customers these promotional emails?
4. Effective Message Delivery.
Email marketing has always proven time and again to be a true conversion monster.
Maybe because of the fact, 86% of professionals prefer to use email when communicating for business purposes.
And it’s because of its effectiveness, that email marketing spending is projected to grow to $3.07 billion in 2019.
To best illustrate it’s effectiveness.
Did you know, 90% of all email messages sent, end up in the intended recipient’s inbox?
How about the fact that, an email is around 50 times more likely to get seen by a customer, than a post on social media?
Another precious fact, is subscribers give you explicit permission to contact them with promotional content when signing up. Thus more likely to interact with the emails you send them.
Tip: Research shows, when you personalize email messages they improve click-through rates by an average of 14% and conversions by 10%.
This, however, doesn’t mean you inundate them with offers. In fact, 78% of consumers unsubscribe from a brand’s emails due to receiving too many emails.
The balance between truly helpful, valuable content and promotional offers, is the name of the game.
When done right, you’ll get to build strong relationships with your email list. Which could prove worthwhile and super profitable over time.
So you owe it to your business to invest in email marketing now, not tomorrow, or any other day. Now!
5. Get Valuable Data.
Optimize, Test, Optimize, Test, Optimize,…..
Finding the best winning email marketing strategy comes with a lot of testing and optimization.
Scaling before nailing your funnel perfectly could mean losing money through unnecessary leaks.
Fortunately, autoresponders provide you with a wealth of invaluable analytical data. Giving you insights into the effectiveness of your marketing strategy.
Your emails click-through rate, bounce rate, conversion rate, open rate, unsubscribe rate, list growth rate, spam rate,…etc. Are some of the most important metrics to look out for in your email marketing campaigns.
And armed with this data, split testing, segmenting, and optimizing your marketing messages becomes a breeze and no longer guesswork.
And if you are wondering whether all the testing and optimizing is worth it? It is.
In fact, according to invespcro, Increasing customer retention rates by 5% increases profits by 25% to 95%.
What’s more, 70% of respondents agreed that it’s cheaper to retain than acquire a customer.
Now, on the off chance, you are tempted to say you will only focus on new prospects, check this out.
The probability of selling to an existing customer is 60 – 70%, while the probability of selling to a new prospect is 5 – 20%.
There’s no ruling out email marketing from any business’ marketing strategy. In fact, an email marketing strategy should be in place from day one.
And with the backing of these 5 reasons, can you see why the smartest thing to do, is to invest in email marketing now?
Start learning email marketing today by doing. Get the 30-day FREE trial with GetResponse, and fast track your email list building efforts fast.
As always, feel free to add a relevant comment below.
See you in the next post.
But in the meantime.