Marketing dollars bring business. That is the idea, anyway, and it seems simple enough. But as to the how, that is where it gets tricky. We want to see the biggest return on our marketing dollar. We want our marketing dollars to help create a lasting relationship between our customers and our business. We want to grow our business through our marketing dollars. So, how?
Email marketing. Yes, email marketing. Surprised? Do not be. Email marketing is a powerful tool that allows your business to communicate directly with your potential customers. It allows you to tailor this communication directly to each individual, building a closer relationship than almost any other marketing channel allows. It also has the highest return on investment of all marketing channels.
Niti Shah at Hubspot has put together a blog entitled “18 Email Marketing Stats That’ll Make You Better at Your Job” that includes some bits of info that should help convince you of the value and power of email marketing. According to Shah’s research there were nearly 4 billion email accounts in 2013. One can only assume this has climbed since then. Email is a powerful way of reaching a large number of people. And these people are engaged with their email account. 91% of consumers check their emails on a daily basis, 76% of email opens occur within 48 hours, and 66% of consumers have made a purchase as a result of email marketing. Wow!
Shall we sweeten the pot even more? Would you believe that every dollar spent on email marketing generates $44.25? It is true! If you want to communicate with a large volume of people, do so in a timely manner, and encourage them to spend money with your business, email is the marketing channel for you.
So, let us look at the how of it. Here is a quick list of email marketing practices that should help you to generate that astounding ROI.
• Never buy email lists. Buying a list is like buying a whole car dealership when all you want is one car. Sure, your dream car is on the lot, but what an inefficient way to go about getting it. Instead, collect emails from your existing customers and build your list over time. You can also build email lists using social media or incentive campaigns that encourage people to opt in. Tricking them onto your list, or buying their email starts your digital relationship with your customer off on the wrong foot.
• Do not flood your subscribers’ inbox with emails. Communicate well, not often. Send out an email only when you have something to communicate, and keep in mind that content is what people care about, not “great offers.” Keep it engaging!
• Do not let your email get flagged as spam. Using all caps in a subject line, using trigger words like “discount” or “special offer” or “urgent,” and using symbols like dollar signs will all get your email caught in the spam filter.
• Keep your subject lines to 35 characters or less, and keep them engaging. By engaging, we me incentivize your customers to open your email. If you can do that in less than 35 characters, your email has a 51% higher chance of being opened.
Are you still not convinced of the power of email marketing? It is cheap! You can send out your own emails or use a service like MailChimp or Constant Contact, but either way you are looking at very little money spent up front. Creating lasting relationships with your customers and growing your business has never been simpler. That is the power of email marketing.
- Posted by Lift Media Group