Think email marketing is passé? Statistics show that marketing to a user’s inbox may be more lucrative than one might think!
When creating a comprehensive marketing strategy on a fixed budget, it makes sense that return on investment is a key factor in the decision-making process. The natural inclination is to look at the newest, most efficient form of social media or influencer marketing ideas and simply run all the way to the bank. The problem is, these marketing vehicles, while certainly popular and often quite powerful, aren’t the only players in town.
Don’t Discount Email As Part of Your Marketing Plan
Have you ever considered, dare we say it, an email marketing campaign or email-centric sales strategy? Before you commit any additional resources to a particular marketing angle, consider the following key benefits of email marketing:
Serious ROI: According to statistics, for each $1 spent on email marketing, the average business will see $44.25 in return. This equates to a 4300% return on investment.The numbers clearly show there is serious potential in email marketing for a high conversion rate. In fact, email marketing is renowned for big ROI numbers among marketing industry experts.
Continual touchpoints: How many times a day do you check your email? While it’d be nice to check once or twice, the reality is, we are all checking our emails several times every hour. B2B marketing groups can capitalize on this frequency. It’d be smart to enable time-sensitive promotions or targeted marketing messages that will likely be read within the hour.
On the B2C side, Marketo indicates 94% of people say the number one reason they go online is to check their email, with many of them hopping on via a mobile device to ensure continual awareness of their inbox. This means you can put your brand in front of your target audience on a daily basis.
How Does Email Compare to Social?
More intimate than social: You’ll find consumers who actively invite your brand into their email inboxes are more likely to display a level of commitment to you versus a social media user who simply taps “like” on your Facebook post or tweet. Email marketing drives higher percentages of conversions than virtually any other type of marketing vehicle. Open rates of 15-30% are common, and click-through rates of 2-5% are typical for email marketing messages. Soft and hard bounce rates, or the “returned mail” percentage, of the total number of campaign messages sent hover in the 1% range. This is quite low when you consider the scale involved.
If you were to equate these numbers to a door-to-door salesperson ringing 100 doorbells, 65-85 of the residents wouldn’t be home; 15-30 people would answer the door and listen to the sales pitch; and just 1 home would be unoccupied. Any salesperson would be thrilled to make 15-30 presentations out of 100 opportunities.
Trackable – just like social: Email marketing campaigns can be huge in scale, although it may seem difficult to nail down where the lift in business is really coming from. In fact, your boss might not believe the big email marketing push you just enabled actually elevated sales on its own – without an assist from another marketing idea. The good part? You can track purchases that result from your specific email campaigns, especially if your e-commerce platform marries with your email service provider. This tracked activity allows you to better customize campaigns in the future and prove the actual ROI from the email blast.
This isn’t SPAM: You may have to prove that spending money on email campaigns is a good idea. Be prepared to quote stats, discuss figures, and then, ultimately say, emails that don’t prompt clicks are possibly poorly constructed emails. Marketing via email takes just as much thought as any other medium. Effectiveness often correlates to creating segmented, automated, and targeted campaigns that are as organized as they are personalized.
Reach Your Full Marketing Potential
Email has the potential to reach anyone at any time. If you want to deliver your message to a massive pool of potential customers, with a virtual guarantee of a positive ROI, consider the power and efficiency of the humble email message when crafting your next marketing campaign.
For more information about virtual marketing strategies, contact Internet Marketing, Inc. today. Learn how you can elevate your business by partnering with a full-scale digital agency.