The digital landscape changes rapidly, with new technologies and new mediums meaning you’ve got to stay on your game with your marketing campaigns. But as the saying goes, the more things change, the more they stay the same. And when it comes to communicating with customers, email marketing remains consistent, effective and affordable.
You know people who aren’t on Facebook, Twitter, or Instagram. But do you know anyone who doesn’t have an email address? Probably not, right? In fact, there are over 4 billion email users in the world, sending more than 300 billion emails every day. While social media is a great channel to communicate and interact with your audience, your business is ultimately about generating conversions. According to one study, 81% of respondents said email marketing has driven them to purchase from a new business.
In the same study, 80% of those surveyed said that receiving emails from businesses they had purchased from helped make them repeat customers. This is one of the most important aspects of email marketing – you aren’t cold calling. You aren’t selling your product or services to people who don’t know you. You’re re-selling, or you’re up-selling, to existing customers. And even just a 5% increase in customer retention rate can generate profit increases between 25% and 95%!
How much do you spend per email? Nothing? Next to nothing? Email is easy, and it is cheap. Even a slight return on email marketing is worth your time, but studies have repeatedly shown you’ll get a lot more than a “slight return.” According to Campaign Monitor, you can expect $44 income for each $1 you spend on email campaigns. Can you name another medium that generates that type of ROI?!?
Today’s customer is growing more mobile all the time. Not everyone shops on their phone, but almost everyone checks their email. Reading and sending emails are the most popular mobile activity, even more than texting, web browsing or social media use. Almost half of all emails are opened on a mobile device, and unlike advertisements, email isn’t passive. They’re action-oriented, directing customers to reply, sign up, or purchase, and more. Even unwanted emails must be deleted, whereas advertisements can simply be ignored.
We’ve all received emails that address us individually, and these emails are 26% more likely to be opened. But email customization can go much further, providing customers with product recommendations, shopping cart reminders and more. These tailored messages show a customer they have unique value to your business. Email marketing can allow you to segment your audience and send messages that provides them something of value. According to one study, 58% of ALL email-generated revenue results from segmented emails!
Email marketing is a versatile and reliable tool that should be a key part of your digital campaigns. Combining email with other marketing tactics allows you to cast a wide net, targeting both existing and potential customers, in an effective AND cost-effective way.
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