Daniel, Digital marketing expert
How often have you opened your inbox to see a new email from a brand you follow?
I get them every day!
I don’t think I can even count the number of newsletters I’m subscribed to, and that’s usually because agreeing to subscribe entails getting some sort of discount - and you know I can't resist a good discount.
Putting obnoxious consumer behavior of mine aside, as a Virtual Marketing Assistant, I can tell you that once you have permission to communicate with your prospects or clients, email marketing (done right) can be one of the cheapest and most effective means to convert and nurture them again and again.
Have you taken advantage of email marketing in your strategy? You’d be surprised how many digital marketers don’t really understand their email marketing’s ROI. Don’t worry – I’m here to break it down for you!
I want to go over exactly what email marketing is and how it can boost your overall ROI and conversion rate.
What is email marketing?
Email marketing is one of the most cost-effective tools in your marketing strategy as it allows you to easily reach your audience whenever you would like to inform them about new products or services, send them special offers, congratulate them on their birthdays, or invite them to an event.
I know – you’ve probably heard this a million times, but do you really know what purpose email marketing serves?
I didn’t when I started my marketing journey, so I did my research and uncovered the secrets to email marketing. And believe me when I say, if you aren’t already taking advantage of email marketing, you should take the leap asap.
Email marketing is an essential tool that helps nurture leads and guides them through the marketing funnel to conversion.
What are the benefits of email marketing?
Cost-EffectiveFor every dollar spent on your email marketing campaigns, there is an average of 42$ return. If you can’t do fast math in your head – that’s a 4,200% return on your investment (ROI)!How insane is that?!?Now I’m sure you understand why I said you’ll want to dive into email marketing if you haven’t already added it to your marketing strategy.It’s also cost-effective because you target people who have either already purchased your product or service or have expressed interest by subscribing to your newsletter. For these reasons alone, email marketing should be one of the key pillars of your digital marketing strategies.Not taking advantage of email marketing is like seeing money lying on the floor and not picking it up. Silly, right?
High Conversion RatesLet’s say, as a consumer, you were looking at a new product or service, but you weren’t totally convinced to purchase at that moment. Email marketing is perfect in this situation because it allows the brand to keep in touch with you and will motivate you down the line to gain more confidence and continue with the purchase.
Build Awareness and Leverage Lead-to-Sale Conversion FunnelsEmail marketing is an excellent way to building brand awareness and nurturing funnels for both B2B and B2C companies. This way, you get to interact with your prospect numerous times, utilizing different points of engagement to earn their interest and lead them down the funnel - without having to pay hefty advertising sums.
Why is that, you ask?
I’ll tell you!
When you send emails to your audience, you are cultivating a hopefully positive, long-term relationship with them. Any time you directly engage your audience, you build trust and make those leads much more likely to convert to customers.
I know – you’re probably thinking, ‘She must be joking. Nobody reads newsletters anymore.’
How do I say this in the nicest way possible? You’re wrong!
There are around 40 different types of emails you can use in your email marketing strategy, and they range from welcome or thank you emails, purchase follow-ups, review requests, announcements, promotions or unique offers, personalized birthday presents, to incentivized surveys inquiring about their interests and needs.
This is a great opportunity to test your audience on what works best with them.
Typically, order confirmation emails have a 70% open rate, and welcome emails have an average of 50% open rate – you can take advantage of these emails to sneak in a special offer for an upsell or a personal coupon to use on their next purchase.
Final Thoughts
Email marketing was, and will likely remain, one of the best ways to engage your audience. When adding email marketing to your strategy, ensure that you provide valuable information to your audience, embed links to your other channels, and add a strong CTA (call to action). And as always - if you need any help - just meet me here.