The number of email users reached 3.9 billion in 2019, which might increase up to 4.48 billion users by 2024.– Statista.
Marketing holds a colossal significance in product sales and its prosperity. As you know, the main concern of a business is to increase ROI, and Marketing is the ultimate channel to achieve it. Indeed, you need to have a quality product, but, Marketing is something that drives deals. If a customer is not aware of the products and services offered by a company then he resists investing in it. Marketing works here by spreading awareness, engaging customers, and a lot more.
73% of Marketers prefer to integrate Email Marketing with other marketing channels. – Hubspot
The companies know the importance of Marketing. So, they use many approaches such as Website, Search Engine Optimisation, Social Media Marketing, etc. to improve their business. Among these strategies, the practice that has never become outdated is Email Marketing. Email Marketing is a powerful as well as a popular marketing approach and can bring a huge difference in the Return On Investment of your business. Let’s check out how-
How Email Marketing can improve the ROI of your Business?
“Since 2015, businesses have found Emails as the top producer of return on investment.”– Brafton
As you know, each marketing strategy has a different effect on the business. So, if you combine email marketing with the other marketing practices, it can improve the performance of your business in the market.
Let’s dig a little deeper to unveil the advantages of email marketing to a business, leading to an increase in ROI.
- Wider Customer Reach
Who does not have an Email ID in this digital era?
Whether you are on social media or visiting a website, Email ID represents your identity over the network. Email ID proves to be a powerful tool for companies to contact a huge number of clients and promote their business through Email marketing. With more than 3 billion users, email has expanded the boundary of Email Marketing by providing a wider customer reach.
- Enhanced Customer Engagement
According to a survey done by Hubspot in 2019, 78% of marketers observed an impressive rise in email engagement in a year. Email Marketing allows you to engage more customers by updating them about the offers, discount coupons, and new products.
In fact, because of these facilities, many customers prefer Email to be in touch with their brands. Better customer engagements increase the chances of lead conversion as well as customer retention, hence the ROI.
- Higher Lead Conversion
“Email converts better than SEO, display ads, and social media lead channels.”– Neil Patel
Email, having a more extensive client reach, increases the chances of lead and sales conversions. There can be many reasons that are limiting your lead conversion, such as lack of information, lack of motivation, unavailability of the product, etc.
Email Marketing can help you here by increasing the interaction with the customers. The appropriate email grows customer confidence and improves their experience, motivating them to visit your website and buy a product.
- More Relevant Website Traffic
Various marketing strategies like Social Media Marketing and SEO prove to be quite useful in increasing traffic to your website and so is the case with Email Marketing. Email Marketing not only accentuates the website traffic but, targets more relevant users.
Relevant website traffic turns out to be very helpful for the business. A relevant visitor is more likely to get converted into a buyer, contributing to the ROI of your business. You can include various elements in your emails such as an attractive CTA(Call To Action), creative content, etc., that could catch user’s attention and encourage them to make a visit to your website.
- Higher Brand Awareness
66% of customers generally prefer to buy a product from a familiar brand. Nielsen
Email plays a very important role in expanding the brand awareness of a business, reaching directly to the target customer’s inbox. A session of well-structured emails can help in gaining the user’s confidence and building a strong relationship with them. This leads to customer loyalty and returns, an important factor for businesses.
- Cost-effective Marketing Approach
Cost-effectiveness is one of the important factors considered while planning the marketing strategy for your business. The more cost-effective is your approach, the better is the business. Email Marketing is a cost-effective marketing approach that requires minimal investment. but, having the potential of generating a higher revenue approximately $42 on every $1.
Do you still think Email is an outdated concept?
Email Marketing has been and will continue to be the evergreen marketing strategy, which is going to live for many more years to come. In fact, 49.5% of marketers are planning to increase their email marketing budget, indicating its sustenance in the market.
Sticking with the old plain text style would not work, requiring you to adapt to the evolution of Email Marketing strategies such as integration and segmentation. Careful integration of Email Marketing with the other marketing strategies as well as segmenting the emails to target the right audience, work wonders in boosting the Return On Investment(ROI) of a business. So, without further ado, plan out your Email campaign and follow these steps.
- Segment your Email
- Select an appropriate Email provider
- Design the content structure of your Email
- Decide the frequency of sending Emails
While the above-mentioned article will help you use email marketing in sync with other marketing channels, you may find it difficult in managing your email campaigns and at such times, you can opt for our campaign management services on support level or hands-off.