Email marketing is one of the most important channels for small businesses as it delivers high levels of return on investment (ROI) and the ability to move contacts through the different stages of the conversion funnel.
From this you can develop relationships with your prospects and turn them into leads and eventually, loyal customers. It also helps you to develop a rapport with your existing customers and to even target former ones and entice them back – providing you have permission to contact them, of course!
Keep reading to learn why email marketing is so effective and why it needs to be part of your overall marketing and communication strategy.
Why is Email Marketing so Effective?
For small business owners of both B2B and B2C companies who are required to keep an eye on their budget, email marketing is one of the most important and valuable marketing channels to invest in.
It is estimated that by the end of 2019, 5.6 billion people around the world will have an email address and with 99% of email address owners checking their emails on a daily basis, it truly is one of the most important digital marketing channels available for businesses of all sizes.
Moreover, it is a cost-effective digital marketing tactic that requires minimal investment to get started. It also requires relatively little investment to maintain and send campaigns, enabling small businesses to focus spend elsewhere.
It is this ability to provide a cost-effective way in which to get your message in front of your audience that demonstrates why email marketing needs to be part of your arsenal of marketing tactics if it is not already.
It helps businesses to consistently send highly-targeted content to their audience and tailor it based upon the analysis of data to refine and improve the performance of the campaign. This is an essential tactic, especially as research has shown that brands utilising this approach can expect an increase of 760% in revenue.
Build & Establish Your Authority
It is important for small-to-medium-sized businesses to earn a reputation as authorities within their relevant niches. Not only does this help to increase awareness of your brand, but it also means that you are viewed as an authority within your industry and a trusted supplier of products or services.
Engaging your email subscribers with targeted newsletters based upon their interests is a great way to encourage engagement and increase your authority, and ultimately generate increased revenue.
Integrate with Other Marketing Channels
The most effective marketing campaigns are those that are fully-integrated and aligned with other marketing channels and replicated across different mediums, including mobile marketing for a multi-device and omnichannel messaging experience.
This helps to keep your brand in the mind of your audience and to help improve the metrics of your other marketing channels. For example, sending an SMS to your audience to inform them of an email that would be of interest to them helps to increase the open rate and revenue generation.
Alternatively, email marketing can also be used to support other channels and tactics to improve their performance as well. Content-marketing is an incredibly important tactic to increase brand-awareness while educating and engaging potential new customers.
Personalised Email Marketing
Personalised marketing, or one-to-one marketing, is increasingly in demand in digital marketing and it is believed that 72% of consumers will only engage with personalised marketing.
Email is perfect for personalised marketing as it provides the opportunity to speak to your audience as individuals and send them highly targeted content that you know is of interest to them.
It also provides a channel with which you can connect with your audience that is not seen as being overly invasive; contacting your database via email with tailored offers is always going to be a tactic that is well-received and appreciated.
But how do you achieve this? Well, we are about to find out!
Audience segmentation is one of the most important aspects of email marketing.
None of us like to receive emails that are not relevant to our interests and desires. It makes us more likely not to open future emails from a brand and possibly even unsubscribe. This is what happens when a blanket email is sent, it leads to disengagement amongst the recipients to whom the campaign was not relevant.
Segmenting your database is key to long-term email marketing success and monitoring and spending time on refining your data is of the utmost importance. A good place to start is to consider the following for segmentation:
As mentioned, these should be the mere starting point and further segmentation based upon these four is essential for enjoying consistent successful email marketing campaigns that are driving traffic to your website and generating revenue.
When you are working with a relatively small budget, it is important to be able to get the most out of the resources that you have at your disposal. For small businesses the channel provides the opportunity to reach a wide range of recipients whom you know are interested in your business and looking to hear from you.
When combined with personalisation, it can prove to be incredibly lucrative in generating revenue from your core products and services. There is the also the opportunity to increase revenue through up-selling and cross-selling alongside these offerings and target previous customers based upon their purchase history and wider seasonal considerations.
Taking Advantage of Email Marketing
If email marketing is not currently part of your digital marketing strategy, then it is important that you start making plans to incorporate it into your business in 2020 and beyond. Its ability to consistently and cost-effectively generate revenue means it has the ability to improve or transform the fortune of businesses.
If you have any questions about what the channel could do for you, or to find solutions to the challenges of email marketing, then contact rdcom for a free trial of our platform and benefit from our 20 years of business messaging experience.