Did you know that email delivers an astounding 3,800% ROI, making it one of the most effective marketing tools? Despite the emphasis modern marketers put on other digital tools, such as social media platforms, email has proven that it will stand the test of time. In fact, 78% of marketers saw an increase in email engagement in 2019, and that was before the overall use of digital communication channels increased during the coronavirus pandemic.
Although each new social media platform and messaging channel that comes out might distract you with its shiny newness, you should not forget about tried and tested email marketing. For one, social media is valuable, but it is also volatile. As Heidi Klum says, “One day you’re in, and the next you’re out.” You can never be certain that a platform will be in vogue, or even in use, from one moment to the next.
Also, you have no control over social media algorithms. Email is a direct, reliable line of communication. Taking this into consideration, you should spend at least as much time attracting email subscribers as you spend growing your social media following.
When you think about it, your email list could be considered your company’s greatest asset. The proven high ROI and reliability is certainly hard to argue with... But wait, there’s more!
Your email list is a culmination of your marketing successes.
Acquiring a decent number of contacts is an accomplishment. Your email list shows that you’ve already done a lot of work to get people to sign up, maybe through pop-up forms on your website, digital advertising, or point of sale interactions. It’s difficult to gain consumer trust these days, and if someone is willing to give you their direct contact information, that’s pretty darn impressive. All your marketing activities add up, and one of the best things that comes from these efforts is a sizable list of receptive contacts.
You can easily build business relationships with the contacts on your email list.
When a person signs up for your emails, they’re consenting to starting or continuing a relationship with your brand. That means your email list is a captured audience that is warmed up and awaiting your messages. Because of this, marketing to them will be more efficient since you know they are at least somewhat interested in what you have to say.
Email marketing is the best way to nurture leads.
At any given time, only 3% of your market is actively buying. That means most of them are either researching possible solutions to their problems, or they aren’t even aware that they have a problem yet. Email marketing gives you a chance to work with contacts who are not yet ready to buy. Your job is to lead them down the marketing funnel toward the decision-making turning point. If you’ve nurtured them adequately, they will confidently decide to work with you, knowing that you offer the best solutions.
You can tailor your emails to each unique contact on your list.
If you want to get even more out of your email list, segment it! Most email marketing software allows you to divide your subscribers into smaller groups based on filters like where they are in the customer journey, their interests, their job title, and so on. This allows you to write emails that are strategically customized to the group you are sending to. According to Campaign Monitor, marketers who use segmented campaigns note as much as a 760% increase in revenue. Want to hit it out of the park with customization? Use your email marketing software’s personalization features! For example, including a contact’s first name in a subject line or greeting can grab their attention and make them feel like you’re having a one-on-one conversation.
Email marketing can help you seal the deal.
We want to nurture leads and build better relationships with them through all our marketing efforts, but not every channel is effective when it comes to delivering the final push that turns a lead into a customer. According to SalesCycle, 59% of respondents say marketing emails influence their purchase decisions. This can be partially attributed to the fact that they actively chose to receive your communications, like we discussed earlier. Being salesy, even if you think you’re being subtle, in an organic social media post can be a little icky since people at all stages of the buyer's journey can see it. If that’s someone’s first interaction with your brand, it will probably be off-putting to them. However, with email marketing you can make sure the right message gets to the right segment at the right time, which can help you make more sales.
One-time customers on your email list can easily be turned into repeat customers.
Many marketers believe in the power of email marketing when it comes to customer retention because they’ve seen the results. It’s important to continue delighting people after they’ve made a purchase or signed a contract so that they’re happy enough to keep coming back for more. Sending interesting and informative marketing emails to your list is a great way to do this.
It’s time to give credit where credit is due. Your email list allows you to have direct communication with new leads, increase sales, and stay in touch with your contacts. No matter what business you’re in, you want a consistent stream of new customers as well as lasting business relationships. Cultivating and utilizing your email list is one of the best ways to accomplish those goals.