By MICHAEL S
With the bunch of available digital marketing channels nowadays, it’s reasonable to ask, is email marketing still a valuable part of your revenue boosting strategy?
The answer is most certainly, yes! 👍
It doesn’t matter how many new digital marketing tactics and platforms arise, email marketing remains one of the best ways to reach and engage your target audience.
Email marketing’s power lies in its capability to provide eCommerce and other online businesses an appealing return on investment.
According to several studies and surveys, the average ROI of email marketing is around 38:1 – 40:1!! (Litmus, Constant Contact) 📈
That’s higher than any other digital marketing channel can show up!
I know what you think right now, it sounds too good to be true.
So I will break down the different aspects of Email Marketing and where its high return on investment comes from.
➡️ 1. Increase Business Revenue
However there are many different tools in your online marketing armory, email marketing continues to be the greatest driver of revenue for many businesses.
There are a few different reasons for that.
First, that the number of email users in the U.S. is continuously growing every year. By 2020, the number of email users is estimated to grow to about 259 million (the estimated number for U.S. Facebook users, for the same year, are 221 million – Statista). 📧
The second big one is the general affordability of sending emails. That, connected with the potential for immerse revenue growth, makes email marketing one of the best option for small businesses with limited marketing budgets.
➡️ 2. Improved Conversion Rates
Email marketing is also an effective way for helping webshops and online businesses improve the number of their sales and conversions.
The reason is that emailing helps nurture leads and move them closer to your brand to make a purchase. 🤱
For example, a consumer visits your website a few times but he/she is not ready to go for the buy.
There can be many reasons for that.
Maybe the visitor needs more info or some time to consider other options. Maybe they just need a little motivation to finally make the decision.
With email marketing, you can keep connected with these interested consumers and providing them with the info and incentives, they need, to finally make a purchasing decision.
➡️ 3. Increased Website Traffic
According to HubSpot, one of the greatest challenges that businesses face is generating website traffic.
In fact, 63% of those marketers surveyed said that it’s their biggest hardship. There are a number of tactics that can help you to increase website traffic, like SEO and social media.
Email Marketing not only can help increase traffic back to your website, but it makes sure that the traffic which going back to your site is relevant. 🤔
When subscribers are regularly engaging with your email content then they have already shown an interest in your brand. This shows not only that they are qualified leads but that they are more likely to make a purchase.
➡️ 4. More Intense Brand Awareness
Building strong relationship with your subscribers is essential to move them to the next step of your funnel. And effective email marketing campaigns can play an important role in helping your business build brand awareness.
The main reason why email marketing is so effective is that it allows you to engage with your leads directly and consistently.
It allows you to reach out to them and engage them several times over a longer period of time. This helps you establish a relationship, build trust, generate more conversions over time and increase your Customer Lifetime Value (CLV). 🤝
With all that in mind, it’s easy to see why so many eComm stores and online businesses continue to develop and implement effective email marketing strategies.
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