March
09

7 Reasons Why You Must Consider E-Mail Marketing For Your Business

Marketers often talk about e-mail marketing as an obsolete medium of online marketing. Nothing could be farther from the truth. True, e-mail marketing began many decades ago, and in the world of technology – that’s a dinosaur. But thanks to continuous modernization and automation, e-mail marketing has evolved to be a reliable digital marketing channel for businesses worldwide. And it’s still going strong.

Consider this – 40% of B2B marketers owe the success of their content marketing campaigns to email newsletters. Not only that, 73% of millennials prefer to receive communications from brands and businesses through email. These are critical statistics that digital marketers cannot afford to ignore. Among the popular mediums of internet marketing such as social media or search engine marketing, email marketing is still relevant, practical, and, most importantly – very cost-effective.

Investing in email marketing may be the best decision you take this year. Let’s take a look at the seven reasons why e-mails are the most cost-effective medium of online marketing out there –

1. Massive Potential Reach

Even though everyone we know is on social media, the number of social media users is still much lower than the number of email users worldwide. Research shows that there are more than 4.1 billion email users worldwide today. And with a growth rate of 3% – it is predicted to reach 4.5 billion email users worldwide by 2024.  For a fraction of the cost you pay to advertise elsewhere, e-mails allow you to reach audiences across geographies and time zones.

2. Low Cost

Most e-mail service providers offer their services virtually free of charge, especially for businesses with less than 2000 subscribers. Even the smallest businesses can afford to include e-mail marketing into their marketing budget without breaking their banks!
PRO TIP: Hiring someone to do your e-mail marketing can save you up to 157 person-hours per year! This number includes writing, drafting, scheduling, sending, and database maintenance.

3. Click-Through Rate

A common misconception is that emails have a lower click-through rate compared to other mediums. The average click-through rate for e-mails is 3.26% and an open rate of 22.87%. It is pretty exceptional when compared to the overall digital advertising average of 0.17%. Of course, CTRs depend on a multitude of factors, including the country, industry, channels, and paid or unpaid links. But even so, it is a useful comparison and goes to show how cost-effective email marketing is.

4. Targeted Messaging

Email marketing allows you to segment your audience into separate e-mailing lists—segmentation by the buying cycle stage, geographies, interests, demography. You can then target each of these groups more effectively. E-mail marketing allows you to send personalized communications at no extra cost.

5. Quick Results

E-mail marketing is perhaps the only medium that allows you to see the campaign’s performance within four hours from the time you click ‘Send’. Other marketing channels need more time to offer such metrics. Quick results mean quick learning, which means you can improve your email campaigns more quickly and efficiently.

6. Automate Your Sales Process

Most marketers rely on email marketing as an economical medium to increase their sales leads. Automated email campaigns can send personalized automated messages to prospective customers whom your sales team wants to follow up with. In general, people prefer to receive reminders through e-mail messages.

7. Higher ROI

Ever since e-mail marketing began in the 1990s, the return on investment has remained consistently high for this medium.

Let’s take an example of a monthly email campaign for 10000 subscribers. After paying for CRM, content creation, and other resources, let’s say it costs you Rs. 4000/- per month. And let’s keep the average value of each conversion at Rs. 1000/-. Even if only 2% of the people who open your email convert into paying customers, your ROI stands at 400%.

In the long run, this comes to a decent return. Not to forget, you can always tweak your click-through and conversion rates by assessing the performance of your email campaigns.

We can never say this enough; e-mail marketing is one of the most cost-effective online marketing methods. If you want to know more about how you can use email marketing to generate better online leads, grow your mailing list, or make a better connection with your audience – get in touch with Content Owl. We would love to hear from you.
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