Why Email Marketing is Important?
Almost every business in the world now uses email marketing in some way. It has been around for more than two decades, and despite the advent of multi-channel marketing (with widespread social media marketing, viral video marketing, and other types of publicity), the efficacy of email marketing remains unrivaled.
But why is this the case? It’s simple because everyone has at least one email address in a literal sense. And I know this for a fact because you cannot build a social media account or sign up for something on the Internet without first providing and verifying your email address.
As a result, while it appears that other media platforms are overtaking emails, the truth remains that email is something we all deal with daily for communication, account management, and other stuff. In this article, I will share with you why email marketing remains very important for the growth of businesses in this digital age.
Table of contents
- What is Email Marketing?
- Why email marketing is important?#why-email-marketing-is-important
- Final words
Email marketing is the practice of gathering email addresses from people who have purchased your digital products or show an interest in your business and then use those emails to promote your brand and product.
Email addresses are often segmented based on each individual consumer’s stage in the sales funnel. From there, you can send emails to each individual list based on the type of content they want.
You can use email marketing to educate, entertain, and build a relationship with your audience. Email marketing is, in this sense, basically a lead generation and sales machine. So what benefits can email marketing bring about for your business?
Why email marketing is important?
Regardless of the size or form of your company, you don’t want to pass up the opportunity that email marketing provides. Email marketing has proven how useful it can be as a resource, particularly when used correctly.
Email marketing is cost-effective
First, let’s talk about money. Whatever new approaches or techniques emerge in the digital marketing environment over the next few years, one thing will still stay constant.
Companies must find strategies that allow them to optimize their marketing budget while also meeting their overall objectives. Email marketing is one of the least expensive digital marketing tactics for reaching and engaging the target audience.
With all of the costs involved, traditional marketing techniques such as TV or print advertising and direct mail can become very expensive. Email marketing, on the other hand, has very few costs associated with it. Depending on your in-house resources, you may need to hire just one or two people to manage your email marketing campaigns.
Furthermore, most companies pay for email marketing automation services, making building successful email marketing less time-consuming.
As opposed to purchasing ad space or paying to print and mail marketing materials to leads and customers, these costs are relatively minor. In addition to being relatively affordable, email marketing has a high return on investment (ROI).
According to data, every dollar spent on email marketing generates an average ROI of $38. This statistic demonstrates how cost-effective email marketing can be for businesses, especially smaller businesses with limited resources.
Overall, email marketing is an excellent digital marketing strategy for small businesses.This is due to the low cost of launching and maintaining email marketing campaigns.
Similarly, email marketing techniques such as segmentation and activated promotions will help you get the most bang for your buck. Hence, you can boost your marketing efforts without the need to reinvest tons of money in your email campaigns. The cost-benefit analysis is a big reason why your company should capitalize on the value of email marketing.
Email marketing is measurable
In email marketing, there is no guesswork. You can monitor who opened your email, which links were clicked, and how many people unsubscribed when you use an email marketing software.
You will quickly see how your email campaigns are doing, make changes, and increase your effectiveness. Email marketing metrics are critical to consider as you track and evaluate your overall internet marketing plan.
Email marketing automation tools help you to test your emails in different ways. Since A/B testing originated in direct mail, it should go without saying that A/B testing is key in your email marketing campaigns. A/B testing will show a wealth of information about your subscribers.
Do they react better to enticing subject lines like “Free,” “20% off,” or “Now on Sale”? Or are they more receptive to a gentler introduction, maybe reminding them of what to expect in your email? All of these aspects can be tracked, assessed, learned from, and improved.
You own your media and email lists
You don’t own your customer list or even the information you share on sites like social media. Typically, the social media site owns both the content and the follower list. Imagine that if social media disappeared tomorrow, how many followers and customers will you lose?
That is why marketers must cultivate an email list. This is your contact list, you own it, and you can connect with it regardless of your email provider. Furthermore, you can own the content that you create and send out.
Read more: How to Build an Email List From Scratch
Email marketing helps you reach more mobile customers
When it comes to the value of email marketing, mobile marketing cannot be overlooked. The number of customers who use mobile devices regularly is increasing.
In reality, Statista predicts that the number of global cell phone users will reach 4.3 billion in 2023.
With this in mind, companies must devise a better way to engage with mobile customers if they are to stay competitive in the digital marketplace.
With two-thirds of emails being read on smartphones or tablets, email marketing has proven to be a successful strategy for assisting companies in reaching their goals.
While some marketing strategies are simply not designed for mobile interaction, email marketing provides companies with numerous opportunities to reach mobile users.
To ensure that your email messages are successful for mobile customers, your company must build email content that is mobile-friendly in nature.
Email marketing automation saves you time and money
Email automation will remain a major subject in the debate about the relevance of email marketing. Many aspects of digital marketing simply cannot be automated. (Or, at the very least, not successfully.)
Email marketing, on the other hand, lends itself well to automation. Indeed, automating your emails improves the relevance and timeliness of your campaigns.
Email workflows and triggers can be used to automatically deliver emails to customers when they perform a particular action.
Here’s an illustration. Assume a customer visits your website and spends a significant amount of time looking at various items and adding them to their shopping cart.
Then, for some reason, you don’t understand, they leave without making a purchase. You can, in this case, use email automation to ensure that this user receives an email shortly after abandoning their cart. This will inform them of what they left behind and ask if they need assistance in completing their purchase.
In this situation, email marketing automation transforms a missed opportunity into an opportunity to strengthen the partnership and close the deal. Marketing automation will help you save time and money while also enhancing the relevance and timeliness of your campaigns.
You don’t have to bother waiting for the right moment to send a message when you use automation; the automation system does it for you.
This helps you to focus on your core business while freeing up the rest of the staff to handle other important tasks.
Build Deep Relationships With Your Customers
As email marketing enables you to personalize your marketing in great detail, this not only increases your ROI but also strengthens your customer relationships. Your subscribers will feel as though you are speaking directly to them when you send a segmented response.
As the renowned consulting firm McKinsey states that personalized marketing is the way of the future, there is no better way to form a strong bond than using email marketing to personalize your messages.
In contrast, on social media, all of the marketing messages are broadcast to hundreds or thousands of fans. There is no personalization at all. Furthermore, there is no assurance that your followers will see your message.
The truth is that most people prefer email over all other types of digital contact with businesses. Email is the preferred way of communicating with businesses for 72 percent of US adults.
Sure, having a strong social media presence will help the company with brand recognition, but it is unlikely to generate as much revenue as email marketing which has stood the test of time.
With a solid email marketing strategy, you can tailor your messages to your customers and create deeper relationships with them, all while communicating with them through the platform that they prefer the most – email.
Recover Lost Sales
Email marketing is one of the marketing mediums that can assist you in retaining old customers. Not only that, but it is possible to fully automate the process of regaining old customers.
An abandoned cart series is one of the best examples of this. When a user exits the checkout page or leaves products in the cart, you can send an automated email sequence reminding them to complete their order, perhaps even providing a discount to sweeten the deal.
Alternatively, you can set up an automated instructional sequence that is activated if a consumer chooses not to purchase your product. The aim of this sequence is to further inform your customer about your product and assist them in overcoming any objections they might be experiencing.
Email marketing allows you to transform these missed opportunities into customers and deeper relationships.
Acquiring a new client is more costly than selling to an existing one. So, rather than squandering your money on acquiring new leads, you can use email to sell to your current customers over and over again.
Furthermore, by using the email sequences listed above, you can persuade buyers who are on the fence to return to your company and become customers for life.
Create Customers For Life
According to HBR, the cost of attracting a new customer can be 5 to 25 times that of retaining a current one.
It is not enough to simply make people visit your website; you must also keep them as customers in the long run. Most people who come to your website will not become a customer or return to your website unless you find a way to attract them.
The unfortunate reality is that most of these customers would have stayed if the company had made an effort to keep them.
So, what exactly is that effort? This is where email marketing comes into play. You can run a variety of email campaigns to persuade your customers to stay with you in the long run. As an example:
Customer onboarding emails are used to welcome new customers.
Inactivity emails are used to re-engage those who haven’t opened their emails in a while.
Renewal emails are sent to users to enable them to renew their service subscriptions.
Cross-sells and upsells are used to entice consumers to purchase complementary items.
VIP deals for the most devoted subscribers and customers.
Surveys will help you learn how to best please your audience.
Customer satisfaction can be achieved with a strong email marketing strategy. Through interacting with your audience on a regular basis, you will be able to serve them at various points during their customer journey.
You will still be at the forefront of your customers’ minds if you have several email campaigns that discuss various aspects of the customer journey.
That’s it! I hope this article has provided you with a solid answer to the question of why email marketing is important. Please feel free to leave comments below for a further discussion on this topic!