You might think that email marketing has had its day. After all, the medium is now more than twenty years old. But just like TV advertising, it lives on - somehow.
Although social media marketing is all the rage right now, it’s worth pointing out that just as many people use email. Data suggests that more than 34 percent of the world’s population uses email and between them, send more than 200 billion emails per day. What’s more, people tend to be more engaged when using email than they are on social media platforms, because it feels more “official” or “work-related,” even if it isn’t.
As an entrepreneur, you need to be able to take advantage of email marketing and understand why it’s still a great option to sell your products.
It’s Economical And Has The Highest ROI
Social media marketing isn’t cheap. Neither is PPC. Email, on the other hand, doesn’t require a big budget. What’s more, the money you do spend tends to have a far higher return than other channels. According to www.dmaglobal.com, for every dollar spent on email marketing, companies receive more than $35 in return. Compare that to TV advertising, where a dollar nets you just over $6 profit, magazine advertising which generates just over $10, and non-email internet marketing which produces $20.
Of course, your ROI could be much higher even than this if you get the principles of email marketing right. Little things like ensuring that your emails bypass Gmail’s spam filter and go to the primary inbox can all make a difference. Thanks to sites like www.charlesit.com, setting up commercial email networks is cheap and easy, meaning that it won’t take a lot of investment to get your marketing efforts off the ground.
It Provokes Customer Action
Unlike a lot of internet marketing, especially indirect marketing, emails directly ask customers to take action. In a sense, emails are similar to landing pages, providing only the essential information customers need and enticing them to do something in response. Well-constructed emails attempt to assuage customer concerns by providing timely and relevant information designed to encourage them to part with their money.
It’s Easy To Measure Success
Email open rates tend to hover between 10 and 20 percent, depending on your industry. But the fact that all this information is publicly available helps businesses enormously when figuring out if they have a good email strategy.
Open rates above the average - say 25 percent - would indicate an excellent email marketing campaign and suggest that there is little room for improvement. Less than 10 percent, on the other hand, would indicate a problem.
The best way to improve an email campaign is to use A/B testing. With A/B testing, you use your original email format as a control and then see whether small changes make a difference to things like open rates, click-through rates, and conversion rates. Changes in the email title, images included, and the copy can all make a big difference overall. Even updating the color scheme is an option.
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