Mar 7, 2022
Have you ever walked past your coworkers in the hallway and heard them cribbing about how email marketing is dead?
The future of email marketing has been a matter of concern to many marketers, but don't you fret because email marketing is here for the long haul.
Fetching new customers and retaining existing ones at the same time can be quite a juggle. To ace it, you need more than just an ad that pops up on your customer's Facebook feed that they are aimlessly scrolling through on the weekend.
You need to build a meaningful relationship with them when they are in the right state of mind.
Email marketing does that best.
What's more, email marketing is a quick, flexible, and pocket-friendly way to reach your customers easily and encourage them to revisit your website.
Here's the irony: Email Marketing is a "big" deal for "small" businesses!
And here's why:
To begin with, most startups or small businesses may not come with large capital; but does that mean that they don't have a shot at big gains too? Of course not!
Email marketing can give startups great returns with minimal investments. Email marketing has consistently been a favorite for small businesses to retain an online presence while keeping their expenses low.
But before we're ready to jump into why email marketing is a must for startups, let's understand what it is.
Email marketing is used to inform, educate and keep your customers engaged by providing timely and relevant information. It can include discounts, promotions, news, and other special offers to keep readers Interested. Your customers can choose to opt-in to receive regular communications, they can also choose not to do so. 🙃
Other than that, email marketing can set startups on the direct communication path with customers. It is a two-way street, so the communication between the brand and customers seems like an ongoing conversation.
And the cherry on top? You can track and evaluate this conversation to understand your customer better.
Are you worried whether email marketing is the right call for a startup or small business like yours? The answer is likely yes. Email marketing has consistently given high returns, even in a covid-stricken world.
Still not sure? The following perks of email marketing might help change your mind:
Email marketing might be the most budget-friendly way to communicate with your customer (and have them respond too).
All you need is a powerful platform, an intelligent strategy, and a wee bit of grit to deliver an effective email campaign with high returns.
Luckily, email marketing is quite flexible with budgets. It is only as expensive as needed. With steady growth in your business, your email campaigns will probably need to grow with it.
Don't believe us? Just look at those crazy numbers (stats don’t lie):
Roughly, a mid-sized business invests between $0-$1000 ( it really depends on the platform you choose and the number of subscribers). Statistics show that 82% of marketers shed between 0-20% of their overall marketing budget on email. *
As a matter of fact, 59% of marketers can't stop raving about email marketing being their most significant source of ROI. *
Marketers using segmented campaigns have noted even up to a 760% increase in revenue. Crazy, isn't it? *
So, does that mean every email marketing campaign you set will be a no-cost campaign? Unfortunately, nothing good comes for free.
A handful of factors impact the cost of your email marketing. Some of them are:
design & template costs,
monthly emails volume,
number of users,
gathering of your email list (buying an email list is not wise)... and we can go on.
However, you need to know that building an email list can take time and effort and each new subscriber must be nurtured in a way that they become a loyal customer.
Here are a few things to keep in mind to make sure email marketing works for you:
It's better to build your email list from scratch or clean up an existing one. Slow and steady wins the race, remember?
For a pocket-friendly email campaign, try to keep your designs simple. People are using their phones to check emails lately, so simplicity is key to success in this case.
The more intricate the design, the more bucks you shed.
And last but not least, be mindful of the number of emails you send. The charges for the number of sent emails vary from platform to platform (sometimes it's free!)
One more thing to keep in mind…While many marketers end up buying email contacts - we strongly recommend not doing so.
If you buy contacts, you will end up sending unsolicited promotion emails and, as a result, risk losing both your brand and domain reputation.
Being able to track what happens after you've sent that email to the customer is the real treat. Most email marketing tools enable even small businesses to track a whole bunch of metrics like:
click-through rate (CTR),
unsubscribe rates, etc.
Wondering what these metrics are? And why it is important to track these?
Here's exactly what and why…Ready for some theory?
Bounce Rate: The percentage of your emails that could not be delivered to your recipient's inbox. While bounce rates might not be the ultimate metric to look at, it can help unravel deep issues with your email delivery that you could have missed.
Delivery Rate: You might need to take out your calculator for this one (or not, if you're using a smart system). The delivery rate is the percentage of emails delivered to your recipient's email address. To calculate it, you have to take the number of emails delivered and divide it by the number of emails sent.
Open Rate: Just as the name suggests, the open rate is the percentage of your recipients who have opened your email. Most email marketers have gone all out trying to develop subject lines to get their customers to open their emails.
Unsubscribe Rate: it indicates the percentage of recipients who unsubscribed to your recipient list after opening your email.
Click-Through Rate (CTR): tells you how many of your email recipients clicked on one or more links present in the email. Click-through rate can give you a clear understanding of how many of your recipients are engaging with your content and are interested to know more about your brand and your offers.
These numbers may seem daunting at first, but they are your best friend when it comes to evaluating your email campaign performance. Judging by data, you can always go ahead and tweak things a bit and maybe even get rid of a campaign, if needed.
For instance, if you have a low open rate, you may want to tweak the subject line (In emails, subject lines play a significant role in determining whether the recipient will open the mail).
Moreover, you don’t have to actually do all the mathematics yourself. You just have to find yourself one of those “smart” software that can take care of the calculations for you.
While there is an ocean full of studies showing the "optimal" numbers to go for, it depends on your industry and target audience. Focus on giving your customers what they seek, and you are good to go.
Have a limited-time offer but can't wait around for your marketing campaigns to start showing results? Email marketing to the rescue!
Emails are a great way to get your audience to grab that lightning deal.
What's the point of all the effort if your customers mark you as spam, right? But at the same time, is there a chance for you to get them to engage with your business?
There is always a chance…Reach out to them with content that's not only relevant but top-notch. Provide your customers a personalized experience and content that keeps them hooked and makes them want to tap into your email every time it pops up in their inboxes. Watch your clients turn into lifelong advocates of your brand, by producing the content that matters for them.
However, you need to understand one thing. No matter the effort you put into creating the emails - some percentage of your subscribers will still not get around to taking a glance at those. And that can be for several reasons;
they are not in the market anymore,
they picked up a new interest,
or perhaps they're just too busy.
What then? Well, re-engage with them, of course! Give it your best shot to bring those subscribers back into the fold. And if it still doesn't work? Pat yourself on the back and let them go. You did your best. Oddly, that's the best way to keep your list high converting and healthy.
When you are putting in money to outreach, you expect returns, right? In terms of Returns, email marketing is at the top of the game. And that may seem surprising to many considering all other channels (especially social media with all its glitter and glory) that have cropped up over the last decade. Email still stands out in the crowd; Just look at those sky-high ROIs!
ROI is basically your returns on the investment.
There is a standard way to calculate the ROI, and it looks like this:
(Gained Dollars – Spent Dollars) / Spend Dollars = ROI%
It’s really cheap to run Email Campaigns, this makes the ROI so damn attractive.
Even though we are well into the era of double-tapping images and swiping through stories (with each one's respective relevance to marketing), email remains where most people still want to receive all their valuable information. Guess it's safe to say that email marketing is here to stay.
Email marketing is as old as the Internet, but it's still one of the most effective ways to reach a large audience. The key to using email effectively is to create personalized content.
Email marketing helps you increase brand recognition by providing a consistent voice that your customers can come to expect from your company.
If you are still a little overwhelmed with having to manage all your marketing tools and tech at once - we get it. That is why SanityDesk might be able to help you out there.
Keeping in mind the needs of small businesses and solopreneurs (our favorite clients) - we have included a full-suite email marketing solution in SanityDesk. Check it out here.
Book a call with our team and discover
how SanityDesk can scaleup and automate your business.
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