Did you know that 64% of small and medium-sized enterprises use email marketing?
Did you also believe that they also claimed email marketing has the highest return on investment?
These numbers prove email marketing is helpful in increasing revenue for small businesses.
We can help you with that. Let’s connect today.
If you find the above message familiar, that’s because it probably is. One of the many examples of email marketing, you have likely received such an email prospect at least once in your life.
But how effective is it? And is it still relevant in today’s dynamic content age, where the rise of social media seems to have displaced viewers’ attention span and interest for reading?
As counterintuitive as it may seem, the answer is absolutely! And there’s plenty of data to show for it.
For those who thought email is dead, think again.
One of the most efficient ways to communicate with customers and prospects, here are some crazy numbers that support why email marketing is still relevant today:
And if those figures aren’t enough, the email marketing business is projected to be valued at $17.9 billion in 2027.
Still not convinced? Here are 3 reasons why email marketing is still important for your marketing strategy.
Let’s face it, making a decision takes time. Even if it comes in the form of a big ‘SALE’ sign and a ridiculously good offer to match.
If you’ve ever added a ‘good deal’ to cart, but never made it to the check out page, then you know how easy it is to get carried away in the midst of a purchase. For most people, great deals work at getting us to add items to cart, but with the average online shopping cart abandonment rate being 69.57%, it’s safe to say that great deals aren’t quite enough to convince customers to finish the purchase.
This is where email marketing comes in.
Serving as a reminder for potential buyers (who may have forgotten about their abandoned shopping carts), email marketing campaigns can also be set up to create a sense of urgency for completing the purchase:
Even if your business isn’t an ecommerce, email marketing also serves as a great avenue to convert new leads. Let your prospects know about a great limited time only deal that you are having, or about a new service that you are providing.
With email marketing, there are multiple ways for you to engage with your leads; to share information, stay in touch, and build relationships. This makes it a great reason to invest in a solid email marketing strategy, regardless of industry.
Subject: Happy Birthday! Redeem your special birthday promotion with us today!
Compare this to your average run-of-the-mill company, who would you choose to buy from on your very special day?
While such targeted email marketing strategies require an established customer database, companies with data on their customers’ birthdays, interests, and past purchases, can leverage on the power of email marketing to deliver personalised experiences to customers.
These targeted email campaigns not only help to ensure that your promotions are delivered to the relevant audiences, making them more effective at driving sales, but also creates a deeper connection that builds loyalty over time. As such, companies that effectively utilise their customer data to send personalised emails (such as Amazon and Starbucks) often achieve great success in incentivising purchases and developing a loyal customer base.
Email marketing is hence a great tool for companies with customer data to connect better with their customers, allowing them to stay at the top of their minds. And that brings us to one last point.
Every healthy relationship requires two way communication.
Email marketing is hence not only an avenue for businesses to reach out to customers, but a channel that customers can also use to provide feedback to the companies they support. Done often in the form of customer surveys and questionnaires, email marketing helps businesses to reach out to valued customers to learn more about their preferences and experiences with the brand, so as to improve and develop products or services that better serve their needs.
It is also a good channel for crowdsourcing ideas for future initiatives, enabling companies to stay ahead of the competition solution wise.
Email marketing is not a thing of the past.
Having a good email marketing strategy is still important today because:
Keen on exploring your email marketing strategy? contact us today!