Top 10 Proven Benefits of Email Marketing for Businesses
Email Marketing can be defined as an act of sending a commercial message, to a group of people, using email. In a broader sense, every email sent to the potential or current customer could be covered under the umbrella term of email marketing.
It has been a misconception among marketers and users that email has become an outdated tool, but the ground reality showcases reverse polarity, as still emails still have stronghold in a successful marketing strategy. In fact, in this modern tech-savvy era, it gives you the luxury to connect with your potential clients irrespective of place or time.
According to a study by 'Adobe', it has been estimated that millennials spend about 6.4 hours each day reading their emails. And not just millennials, with the help of mobile, a large volume of consumers use to mail daily and go through their inboxes irrespective of the daily routine they are going through. According to 'Lifewire', it has been predicted that there will be 4.2 billion email users by 2022.
Well that being the silver lining for why email marketing works, and why it is considered to be a valuable opportunity. But why is it so that a company or business opts for an email marketing strategy, are there other factors also which play a crucial role?
Let's see the various facets of the email marketing and how this can prove to be beneficial for your business, and it doesn't matter whether you are a budding startup or an established firm, but if you are not leveraging this tool of marketing, you are surely lagging in the market competition.
The Factor that makes email marketing outshine as compared to other mediums
The reason that plays at the backend of email marketing is, it’s customer-centric strategy, i.e. it values your customers, it puts them first and treats them as an individual and shows them that they matter to your business and are an important asset to your venture. This is done through the email with the help of greetings that are delivered to them day in and day out, whether it is for just a small purchase or anything else; it makes your customers feel important.
According to 'MarketingSherpa', 91% of the US adults like to receive promotional emails from companies they do business with. And according to an estimate by 'McKinsey', Email is almost 40 times more effective them Facebook and Twitter combined to help your business acquire new customers.
Well, that said about the importance of email marketing, it is indeed a sure shot way to reach your potential clients and leads. So, now let's
Deep Dive into the Ocean of benefits that Email Marketing brings for Businesses and Budding startups
For those of you out there, still confused or, are in dilemma, thinking whether Email marketing would be a right fit for you or not, we put before you the ten proven benefits to help you decide whether to go for it or not:
1. Build a Customer Centric Email
As per an estimate by 'marketing charts', 7 out of 10 users in the US prefer that the brand should contact them via email, so it becomes obvious for companies to invest resources and time on creating better email campaigns.
While building an email, one of the blunders done by email marketers is that they tend to create a 'one-fits-all' strategy and bombard the inbox of user with mails that may not seem to be relevant to him at first sight. So, you must have an integrated base of your customers as per their preferences and requirements and then you should segregate them into one, followed by compilation and then send an email. Now, this seems to be an effective way to address your potential client.
2. Optimization of your Marketing Campaign Budget
According to 'Forbes', if we consider ROI as one of the major factors why some marketing campaigns fail while other succeed, it was found that when it comes to calculating ROI, then for social media, it is not that easy, 44% of the businesses are clueless about their stats of ROI from social media.
That being the reason why businesses always face time and budget constraint, and this scenario may or may not be true in case of large businesses but in case of small businesses or budding startups, it would be huge on their budget margin to build a large business campaign.
When we say of email marketing then estimated ROI comes out to be 42:1, which is multifold better when compared to the other marketing campaigns. You do not pay for the print or the advertisement space occupied by your brand on various social media handles.
3. Provides Growth to your Sales
It has been estimated by 'Marketing Week's' sister brand 'Econsultancy', that revenue generated by email is around €29 billion in retail sales in the U.K. This shows a huge volume generated in terms of revenue, and you can also leverage the benefit of this tool by using techniques such as segmentation of consumers into groups and sending those email compilations based on their personalization.
You can make them act based on your mail campaigns by using some of the sales-boosting techniques such as ‘FOMO’ or Fear of Missing Out i.e. putting flash sales, free shipping, etc. or by addressing special offers on the eves such as Black Friday, Christmas, Halloween among others.
4. Learning Metrics to get the Scalable Results
It may consume time on your part when initially you tend to start making email marketing campaigns; it depends on how you address your customer. As we have discussed that people are accustomed to opening a mail, but they will open your mail, the time you have sent to them, or they will forget about it, or it will directly go in the trash, will depend on your mailing name or the subject line used by you. In other terms, the opening rate of your mail will decide that whether the user you are sending mail to, will turn out to be a potential customer or not. So, you must use a well accustomed baseline to address the subject of the email and the mailing name used by you.
5. Increased Bonding between Client and Service Provider
One of the motives behind email marketing is to build a strong relationship between a service provider and a client. You can take the help of email marketing to build this relation by providing them with the information specific to their needs. You cannot market your product on the door to door basis or create a huge media campaign, well that would cost you a lot on your pocket, so this email marketing has to turn out to be the best methodology to treat your customers individually and create a long-lasting bond with them.
6. Add on to More Traffic in your Pocket
Email marketing apart from being used straightforward to generate traffic can also be used other way round, such as we can use link of our blogs or websites or product descriptions as an attachment with the mail. When a user goes through your mail and finds it relevant, then he clicks through the links provided by you and hence from here you generate traffic on your other channels thus promoting your products and increasing traffic to your website, both at the same time.
7. Helps to Build Brand Recognition
It might be possible that people do not recognize your brand and when you would run the email marketing campaign, you will come across a plethora of new users, and it will help in building brand recognition and will take your brand to newer heights. Apart from this, you must involve engaging content with your email attachment, as lucrative content is the key factor that will turn users on and at times involve them in your marketing campaigns.
8. Multiplatform Experience
As digital devices have reduced to the sizes of our palms, it has become essential to provide users with the multiplatform experience, especially with mobile devices. As an estimate by 'Statista', 63.4% of internet users go online with their phones. People tend to control the way they receive mails, and hence opt-in or opt-out as per their preferences. With an email service, it becomes easier for you to provide the trends and services offered by you that get easily adjusted to the screens of their smartphones.
9. Establishment of an Authority or Control
As the efforts that you have done till here, have the sole purpose of driving users to you, now once you get a bunch of users at your disposal, you must provide them with the relevant news feeds and newsletters that they have signed for. Remember once you miss the engagement link or are swayed away from the content, you may lose potential customers for your brand or upcoming product.
10. Create Excitement, Humor and Reward!
Reward! Reward! Reward! If we ask you, what's common between Volkswagen offering free movie tickets, or Starbucks giving free drinks to their Gold members throughout the year?
This is because everyone likes to be special and feel privileged, so when you give your customers extra perks, they tend to get engaged with your brands for a longer period. You can use your email campaigns to target the specific bunch of people and decide what you want to serve them, as you must refrain yourself from using the one-size-fits-all approach and design campaigns and messages on an exclusive basis.
The Final Note
Well, that was all, and as we have come through a long way, we have gone through all the facets of email marketing and tried to cover all the benefits that can be availed by your business.
The crux of the matter is, there should be a way to communicate with your customers daily, and this is also considered as the silver line of the modern business era. With such a magnificent tool such as email marketing, you can help your sales team build better leads and email campaigns that would keep your business ahead of your competitors and lend you with higher profit margins.
Now, if you have made your mind and decided to go for this proven strategy of Email Marketing, or if you have already started email campaigns and are facing hurdles while scaling up your business or product and are unable to generate leads, don’t worry, we at Biz4Group, deliver impeccable email campaigns to meet your business needs. So, what are you waiting for, Connect with us without any hesitation and our team of experts will put their best efforts to help your business get on track.