Email marketing is an affordable, effective way to engage customers that can have a significant impact on your business’s bottom line.
To examine the importance of email marketing more closely, here are five reasons why businesses rely on it:
Email has a great return on investment
Every business wants to stretch their marketing dollars as far as possible. For ten years in a row, email is the channel generating the highest ROI. For every $1 spent, email marketing generates $38 in ROI.
A 2015 report from the DMA shows one in five businesses have a return on investment of over 70:1.
Email drives conversions
You want subscribers that open your emails, and engage with your company, but most businesses focus on the almighty conversion rate. Conversion rates show how many subscribers followed through with an action, like those that clicked a link or made a purchase.
Yet again, email delivers. Email conversion rates are three times higher than social, with a 17% higher value in conversion.
The best part is that you can monitor your conversation rate with every email sent. Email is a highly measurable marketing tool. You have access to easy-to-understand dashboards that show you exactly how well your email campaigns are doing.
Email stands the test of time
Email isn’t a fad. The first email was sent back in 1978 from an equipment company. Digital Equipment Corp sent an email promoting machinery to 400 people, which resulted in $13 million in sales. That was twelve years before the public was introduced to the internet.
Now, 4.1 billion email accounts exist. By 2018, that number is expected to grow to 5.2 billion.
Clearly, email is here to stay.
Email trumps social in customer acquisition
There’s a lot of talk about utilizing social channels to attract new customers, but the truth is, email beats social media in customer acquisition. Email is nearly 40 times more effective than Facebook and Twitter combined.
Email provides control
Facebook and Twitter can change their terms on a whim, and you have no say in the matter. You follow the rules, or you can’t use the platform. Email isn’t like that. It’s an open communication tool. You control your reach and message. The time you spend growing and nurturing your email list won’t be compromised by algorithm or platform changes and you own your data.
In short, email marketing is a smart choice. So, let’s start talking about how to use it as effectively as possible.IM