1. Best ROI for any Marketing Channel
Research has shown e-mail marketing is the leader when comparing the Return-On-Investment (ROI) for other marketing channels. According to Direct Marketing Association, the average ROI is $40 for every $1 spent. This means marketers get the most bang for their buck with e-mail marketing within their total marketing budget.
E-mail Marketing is easy to measure. After an e-mail has been deployed, you can start gathering up statistics in real-time. You can see who opened it, who clicked what, and who unsubscribed. With a printed marketing piece, you may be able to see who actively responded from the CTA, but you’ll have no idea who handled it, viewed it, or promptly threw it into their trash bin.
Over time, you can actively compare marketing campaigns and determine the strengths and weaknesses of each. The data from these campaigns will improve your decision-making for future campaigns. For example, by looking at the open-rate and click-through-rate (CTR) between two campaigns, you would be able to determine which e-mail campaign performed better. By analyzing the statistics, you’ll be able to identify why a monthly e-mail newsletter had low open-rates in comparison to other months. A possibility of the low performance could have been it was sent during off peak hours or the subject line was inconsistent with the other monthly newsletters.
E-mail marketing can be a very personal marketing channel. Unlike social media, it is private. A recipient can have a direct e-mail correspondence with a company, provided there is an actual human being behind the e-mail address. And, using a data merge, an e-mail can be very personable. By setting up a simple database and an e-mail data merge, you can send account information, order information, or a customized reminder notice by just sending one e-mail broadcast to a large group of people. This is something that social media cannot yet achieve. Can you imagine sending a personalized Happy Birthday tweet to each and everyone one of your Twitter followers on their birthday?
Everyone who is online has an e-mail address. It’s a unique identifier on the internet. In order to set up a website, establish a blog, create a social media account, or purchase something online, the first thing you’ll need is an e-mail address. In fact, the average mailbox per user is estimated at 1.6 and is expected to increase to 1.8 mailboxes per users in 2017.
The lifecycle of an e-mail campaign can be fast. This is a positive thing because it gets your message to your recipient in a timely fashion. For example, let’s say you have an urgent message to send out—say, a product recall—you can e-mail everyone that has ever purchased that product with all of the details. You can include product details, next steps, and contact information.
With the right tools and team members, e-mail campaigns can be easy to implement, and can be extremely flexible for your marketing needs. Is your business taking advantage of e-mail marketing in 2014?
Still not convinced? Here are 5 more reasons to use email marketing.