4 Reasons Why Email Marketing Works
Did you know that email marketing generates the highest ROI among all marketing strategies? While new and improved methods have surfaced for a couple of years now, the power of emails have stayed the same, or rather improved, over time. You may expect a return on investment of $36 for every $1 spent on email marketing - that is a much higher return than you will get from any other type of marketing, digital or not.
Over 4 billion individuals — more than half of the world's population — use email, according to Radicati's 2020 Email Statistics report. And that figure is only expected to rise. By 2024, an additional half a billion individuals are expected to use email. With the increased number of users and the results email marketing has driven to various companies, it is undoubtedly a great marketing strategy to consider for your business.
And here are some of the reasons why email marketing works:
There is a guarantee that your messages are delivered.
If marketers need to choose between adding a new email subscriber and getting a new Facebook fan, they should always go with the email subscriber.
Why is that?
Well, first, 90% of emails are delivered straight to the person's inbox, while only 2% of your Facebook followers would check your posts in their News Feed. This is because of Facebook's policy of limiting the number of times your posts are displayed in the News Feed to drive brands into their paid advertising choices.
Email marketing is critical if you want your target audience to receive your messages since posting your message on Facebook may not help you get more traction. Thus, if you are trying to reach 10,000 people, sending your pitch via email gives you a guarantee that 9,000 of them will receive your message compared to only having more or less 200 people see your posts on Facebook.
Second, once people have signed up to your email list, they will specifically indicate what they want to hear from you. There are strong laws and regulations around SPAM emails, so if you are trying to reach a prospect or customer, it is for the reason that they permitted you to do so. Consider the ads in your Facebook News Feed: did you request that those businesses market to you?
Probably not. You most likely Googled them or visited their website. That is not the same as actively subscribing to an email newsletter.
An email has been shown to increase your intended audience's likelihood of receiving your message.
2. Email marketing reaches a wider audience.
With Facebook having over 1 billion active users and Twitter with around 255 million, many of us would think social media is the most effective tool to reach our target audience. These are remarkable figures, but the facts on email usage are not as widely disseminated.
Statistics have shown that the number of email users has increased over time, which has been predicted to rise in the next few years. This is quite inevitable given that we use our email addresses for almost everything - signing up for websites, logging inside social media platforms, and more.
Email is the web's money, and everyone on the internet has an active email address. While many social media networks, like Facebook, Instagram, and Twitter, are widely used, the ongoing battle over data breaches and privacy leads several users to leave various social media platforms.
So, there is no better communication channel with prospects and customers than email.
3. Conversions are boosted through email marketing.
A lot of us are focused on conversions. Whether they do so through leads, sales, memberships, or some other statistic specific to your business plan, the ultimate goal of marketers is to convert prospects into paying customers.
And there is no more effective avenue for conversions than email.
Indeed, an email campaign's average click-through rate is around 3% (of total receivers), whereas a tweet's average click-through rate is about 0.5%. This means that you have a sixfold greater chance of getting someone to click over to your website via email than you do via Twitter. As mentioned previously, your email subscribers have indicated they want to hear from you, which is not always the case with social media.
According to a survey, 4.24% of visitors via email marketing purchase, compared to 2.49% of visits from search engines and 0.59% from social media.
4. Email marketing helps you reach the right audience.
Email marketing, especially for small businesses, gives you the capability to reach out to your target audience no matter where they are. People are more conditioned than ever to disregard billboards, recycle printed promotional materials, and skip ads. It is another story for emails.
Studies show that people spend 30% of their time in the office checking their emails and 50% doing the same thing whenever they are working from home. That is quite a long time! With email marketing, you get the assurance that your emails are sent to most of your target recipients.
However, this does not mean that you need to send out emails every day. But rather, sending out emails that are attention-grabbing, appealing, and effective. Why? Because your subscribers would want to hear from you.
According to MarketingSherpa, 91% of US adults prefer to receive promotional emails from businesses with which they do business. People not only check their email often, but they also want to receive email.
Email marketing allows businesses to reach an audience already eager to get their message effortlessly.
Conclusion
You have several options for reaching out to your target audience, but you must prioritize your efforts given the limited time and resources. For the many reasons stated above, email marketing is one of the most effective avenues to engage, connect, and attract your potential market to boost your sales and increase your revenue.
At Strategy Maven, we can help you leverage your email marketing strategy to connect to your audience. Book a call with us today!
