Email marketing may sound like a new term but it has been around for ages. To those who are unaware, email marketing is a branch of direct marketing.
Here you use electronic mail to reach and commercialize the products and services. Either current or potential customers get the mails.
Besides, such marketing is for advertisements, business requests, requested sales or donations.
What Is Email Marketing?
Email marketing is sending a business message, to a gathering of people. This involves utilizing email.
In its broadest sense, each email sent to a current client might be literally email marketing. It includes utilizing email to send notices, demand business, or request deals or gifts.
Email marketing methodologies generally are one among three essential goals. Undeniably, the goals are to fabricate steadfastness, trust, or brand mindfulness.
The term alludes to sending email messages to enhance a dealer’s relationship. Email is for empowering client steadfastness and rehash business.
This schema intends for procuring new clients or persuading current clients to shop for something quickly, and sharing outsider promotions.
Email marketing is one of the best and effective strategies in digital marketing.
Types of Email Marketing
Despite being in a sub-category of Digital Marketing, E-mail marketing, in itself, is a broader concept.
Talking about the types, E-mail Marketing is divided into three important types:
1. Email Newsletters
Basically, an E-mail Newsletter is a one-off communication. It has been for sending promotional messages, important account information, product updates, and more.
If you do it well, an email newsletter will help you to build product recognition. It will also enhance awareness about your services.
While creating an email newsletter, you have to consider the following factors:
- Content length
- Type of information
- Placement of images and text
- Call to Action
Depending on your product, it is important that you follow the format that is more preferred by your users.
Transactional emails are triggered by a user’s behaviour. Some examples of transactional emails are email receipts, invoices, billing statements etc.
It is important to realize that these e-mails make their way only after the completion of certain tasks.
Transactional emails like Email receipts, generate high open and click rates. Furthermore, they present a fantastic opportunity to turn a routine email back to your website.
Evidently, customers engage more with transactional emails such as order, shipping, and return/exchange notifications.
Behavioural emails are targeted messages based on a user’s behaviour. These messages are rather customizable.
Indeed, behavioural emails usually focus on getting to know your customers better and creating buyer personas.
The automated behavioural emails can be of the following types:
- Browse abandonment
- Product review requests
- Password renewal/reminders
- Free Trial expiry
- Purchase anniversary renewals
- Re-engagement and so on
Email marketing can help you generate new business if it’s done in a proper way. While doing email marketing, it is important that you focus on the right things.
There are three key metrics when it comes to email marketing which are:
- Open Rate
- Response Rate
- Conversion Rate
While most email marketers focus on the Open rate, it is the Conversion rate that makes you money.
Open rate is the percentage of prospects that open an email. Equally, the conversation rate shows the percentage of responding prospects who buy.
In the same fashion, the response rate is the percentage of prospects who responded.
Despite popular beliefs, the Open rate results neither in a better response rate nor in conversion rate.
The most compelling evidence, the relationship seems intuitive, for a prospect to move from opening, replying and purchasing.
Likewise, the customer experience must be congruent with no irritating surprises.
Importance of Email Marketing
Email advertising is important for many reasons. For example, it is crucial because it is particularly adaptable.
You can make the emails that you ship to promote your business. This may match any need which you may have as well.
You can target many extraordinary social companies and adapt the content material as well.
Since the global business is constantly changing, you must have a precise way to respond speedily.
Besides, you have to stimulate any adjustments that the marketing professionals present.
Also, on the positive side, this sort of marketing is far inexpensive. This feature manifests such sort of marketing is crucial for any enterprise.
Hence it is a blunder to neglected and forget this approach. You can incorporate it into any sort of advertising plan that your business may have, without having any extra costs.
This way, if you get anything from email advertising and marketing, you will, basically, get something for nothing.
Creating profit, without spending any money, is something that each serious commercial enterprise will take into consideration.
Benefits of Email Marketing
1. Cost-Effective and Economic
Email marketing is one of the easiest, effective and inexpensive ways to market a product or service. With email marketing, you will reach a wide number of consumers at a rate of around nothing per message.
If you have a small business, obviously you have restrictions on the budget. This highlights how vital it is to understand allocating the money.
Email marketing is the right place to invest your money balanced against the digitalization of the market. E-mail marketing has resulted in most product consumption online.
A joint study from Shop.org and Forrester Research found that 85% of US retailers consider email marketing one of the most effective customer acquisition tactics.
Even with the explosion of all sorts of new technology and social networks, marketers keep coming back to email.
As compared to today, most people do not spend time in front of their TV or even look at magazines. Albeit we always manage time to look at our mails.
The mail may have materials for studies or the work providing the commercial email with a wider place to the proposer.
According to research by VentureBeat as well as the Direct Marketing Association, for every single dollar spent, email marketing generates $40 in ROI.
When you look at traditional marketing, it takes a lot of effort with printing, posting, etc. This is expensive as well as time-consuming.
While if you market your products through emails, you will do the same with less effort and cost. Also, this will invite the opportunity of having consistent follow-up information available.
Perhaps, with the correct maintenance of an email list, the cost benefits increase so does the ROI. And a cavernous relationship establishes with the recipients.
In either case, the higher positive response rates summons more clientele quickly with lower unit costs.
All you endeavour is to hire someone to work your mailing lists.
So, you’ll have a full marketing campaign at your disposal. Just confirm that you simply hire someone who knows the way to do that in an organized fashion.
2. Better ROI Than Social Medias
Social media is extremely important in any business marketing strategy in current times. It’s a great way to interact with your audience.
This succours to maintain the relationship with them. However, when it comes to converting people into members or subscribers, email marketing is much more preferable.
A study by Custora from 2013 found that customer acquisition via email marketing has quadrupled in the four years preceding 2013.
Email marketing then already accounted for about 7% of all customer acquisitions that occurred online.
And that growth only kept on growing. According to a study by emarketer.com in March 2016, 81% of respondents, stated email marketing drives customer acquisition.
Email’s usefulness is undoubtedly on top. It has succeeded, organic search at 62% for acquisition and social media at 44% for retention.
However, both are effective by far fewer respondents than chose email.
3. Personal and Customizable
With email marketing, you can divide your audience into separate groups. And among this group, you can send a tailored email message to resonates with them.
Provided that it shows them that your product is something that would be worthy. Segmented and targeted emails generate 58% of all revenue according to DMA.
Also, marketers with segmented campaigns, have a 760% increase in revenue as well.
If you’re posting on your social media channel, you address them in a rather vague way. But with email marketing, you can address everyone with their name.
If you’re able to converse with your customers personally, it will be easier for you to pitch your ideas.
According to research from Campaign Monitor, emails with subject lines including the recipient’s name are 26% more probable to be read.
E-Consultancy even goes as far as stating that 74% of marketers say targeted personalization increases customer engagement.
Email should not be spam because genuine mails, can help you build loyalty and trust for your brand.
Email marketing is important for you if you want to build relationships with prospects, leads, current and even past customers.
You get to be right in their inbox and they can come to you at their convenient time.
Email must be friendlier and personable as it will prove that you are not invading their space.
4. Action Oriented
Most people don’t realize that everybody is trained to have something with an email. Some may reply, forward, click-through, sign-up, or even buy.
Email is transactional by nature and you can use it to direct traffic to your website and ultimately drive sales.
While you’re developing your small business or startup marketing strategy, email marketing will allow you to see the results right away.
This can be through sending out newsletters. Yet along with that I also suggest using email automation based on triggers of your customers.
Transactional emails have 8 times more opens and clicks than any other type of email.
Further, it can generate 6 times more revenue according to Experian.
When you use email marketing software, you are able to track who opened your email.
Equally important, you will be able to check links clicking and hyper looping and how many people have unsubscribed.
It’s easy for you to understand and examine how your email campaigns are performing.
To point out, you have to make adjustments to improve your effectiveness.
Email marketing metrics are important to remember as you track and measure your internet marketing strategy as a whole.
If you are curious about your email campaigns, just have a look at this Constant Contact chart.
You will definitely be proficient to compared other people in the industry.
Almost all major Email Service Providers (ESP’s) are providing these kinds of statistics. Others include GetResponse.
A lot of email marketing software allows for split testing of your emails. Meanwhile, A/B testing comes from direct mail.
With this intention A/B testing in your email marketing campaigns is crucial. A/B testing can reveal a lot of data about your subscribers.
Do they generally respond better to tempting subject lines such as “Free”, “20 % off”, or “Now on Sale”? Or, are they more open to a softer intro, maybe informing them of what to expect in your email.
All these things can have some metrics and knowledge to learn and improve upon.
6. Mobile device friendly
Mobile devices have become extremely common. It has made it easy for people to check their emails irrelevant of work and location.
Some people think that with the growing popularity of social media platforms, email should have cessation.
Some obviously think that e-mailing may rest in the corner of the social market.
A study in 2014 from ExactTarget reports that 91% of people use smartphones to access their email.
This is compared to 75% of the people who use their smartphones for social networking.
If you have not been using email as a part of your internet marketing strategy, you are missing out on a huge platform to make conversions and sales.
Inspired By: “InBound Rocket ”
On the whole, I recommend that email marketing would definitely be beneficial.
Even though there are many ways to promote your products, it radiates all the possibilities and potentials of digital marketing.
You read a lot of people with personalized emails which will help them feel closer to you.
We are recommending Email marketing because we have and still are using it as well. It is the most reliable strategy of Digital Marketing.