Whether your business is B2B or B2C, investing time and money into an email marketing can pay off big time.
It is estimated that you get a $38 return on every $1 invested into email marketing.
Thats a 3800% ROI.
If you like those numbers, read on to find out how businesses are using email marketing to make more sales.
Do you have a stack of business cards laying around somewhere? Or a list of customers? Or maybe you’re very organised and have a full-fledged CRM system set up?
If you have a contact database of any kind and DO NOTHING WITH IT – you’re sitting on a pile of money!
Email is the most influential and powerful marketing channels out there.
Think about it…
When you think about ROI, email marketing no longer seems like a chore or an expense, but an investment that could bring you a huge return. Even better, email marketing can be automated so you spend less time making that money.
10 years ago every business wanted to push out email sales messages. They didn’t care about being helpful, creating quality content or connecting with their audience. They just send out “special deals” to buy now. Naturally, consumers started to mark these emails as spam and unsubscribe rates sky-rocketed.
Today, emails need to be value-orientated. Yes a “2 for 1” special may be valuable for some people, but receiving those emails consistently devalues your product or service in the long run as people will wait to receive your discount before making a purchase.
Value is more than a discount. Value is the information and the education that you provide to your readers. Always over deliver on the value you provide in your emails, otherwise they’ll ignore your next emails or perhaps even unsubscribe.
Being of value is nice and fuzzy but as a business we want to grow and make more sales. Emails can definitely be used to sell, but only when it is necessary. Don’t you find it easier to make a sale to someone who knows you? Instead of meeting every prospect one by one, you can reach out to many prospects with one email.
For every $1 spent on email marketing, it is estimated to return $38! When you think about ROI, email marketing no longer seems like a chore or an expense, but an investment that could bring you a huge return. Even better, email marketing can be automated so you spend less time making that money.
If you’re like most business owners, you think that Social Media is where you need to be. With over 1 billion Facebook users, 255 million Twitter users and Instagram users, you’re not wrong.
And for every social media account or profile, that person had to sign up using their email address. In fact, people tend to have 2 or 3 active emails at any one time (personal, work, school).
There are 3 x more email accounts than there are Facebook and Twitter account combined!
If you had a choice of gaining a Facebook Fan or an email subscriber, go for the email subscriber every time.
90% of emails get delivered to your readers inbox, whereas only 2% of your Facebook fans will see your post in their newsfeed. This is because Zuckerberg wants you spend money to get in front of your prospects through Facebook Ads and will limit the number of times your posts show up in your fans News Feed.
So, if you have 1000 Facebook fans, about 20 of them will see your post in their News Feed. However if you were to send an email to 1000 email subscribers, about 900 of them are like to receive it.
Whats more, when someone subscribes to your email list – it means that WANT to hear from you! Spam laws and regulations have really tightened up, and it is really easy for people to mark your email as spam or unsubscribe from your list in one click.
Whilst we can email our prospects and customers just ‘cos, as business owners we also want to build our business by making sales.
Email marketing is the most powerful channel to turn potential customers into paying customers.
The average click-through rate (CTR) of an email campaign is 3%, whereas the average CTR from a tweet is 0.5%
Part of this 6x increase is because your email subscriber has told you they want to hear from you. On social media, any business can pay to come up on your feed, even if you aren’t interested in what they are offering.
Email wins again at nurturing leads and converting them into customers.
Next week I’ll be writing an in-depth post about how you can build your email list whether you’re in B2B or B2C.
After 7 years working in corporate marketing, Serena founded Galante Group Marketing to help small businesses get found online and attract the right clients. Growing up in small business, Serena knows every dollar needs to be measured and analysed for ROI - and has developed a system for service based businesses to generate consistent high-quality leads online using Marketing Funnels + Facebook.