Today, email marketing is considered a medieval concept by most marketers who choose to direct their focus towards the more trending forms of marketing like live streaming and social media. Nevertheless, email marketing provides an unparalleled level of reach which ensures that as a trend, while it may slow down, it will only grow.
To begin with, what exactly is email marketing?
As the name suggests, email marketing uses emails to promote the products or services of a business. It is a branch of direct marketing that gives the business the ability to keep their customers aware of new updates and announcements with unmatched ease, playing a pivotal role in keeping the customers informed.
So, what makes email marketing such a powerful marketing channel?
- Extensive Reach
According to Statista, the number of global email users amounted to 3.19 billion in 2019 and is set to grow to 4.48 billion users in 2024 – essentially more than half of the total world population! Furthermore, with the use of mobile devices becoming increasingly common globally, users have much easier access to email at any time of the day. Undoubtedly, no other marketing channel provides the level of reach and usability that email marketing services do to a business.
- Targeted Approach
Unlike social media channels, email marketing offers a unique opportunity to marketers to practice an intricately defined marketing approach i.e. to divide their audience based on various demographics or even stages of their customer journey and promote their product or service accordingly. Advanced segmentation of this extent coupled with targeted marketing practices plays a key role in substantially boosting brand awareness, building customer relationships and maximizing conversions for a business. Marketers who executed segmented campaigns have reported a staggering 760% increase in revenue! Additionally, with the help of outstanding software like Hubspot and Mailchimp, email personalization as well as automation is now possible with little to no effort at the marketer’s end!
- Facilitates Customer Retention
Research indicates that 81% of small and medium-sized businesses still rely on email as their primary customer acquisition channel and 80% for retention. It is important to understand that your subscribers have willingly opted to keep in touch with your business and look forward to hearing from you. To that end, it is essential to make the most out of this opportunity. Email marketing strategies applied intelligently, have the potential to earn the trust of the customers, foster increased engagement, push conversions and build long-lasting relationships.
- Supports Integrated Marketing Communication
Another advantage of email marketing is that it supports and promotes integrated and cross-channel promotion. This means that your customer base can stay connected and engage with your business through their preferred channel of communication over and above your email campaigns. This can be done through strategic placement of your social media handles, blog or website links into your overall email design and can result in multiplied engagement and conversion rate optimization. To learn how to develop an effective content marketing strategy, read this.
- Measurable Results
Going further, it is possible to analyze the performance of your email marketing campaigns through a number of metrics like open rate, click-through rate, unsubscribes and conversions. Tracking and evaluating these key performance metrics will help you understand the gaps in your email marketing strategy and assist in making data-driven, informed decisions for your future campaigns in order to yield the best results.
Last but not the least, email marketing is one of the most cost-effective marketing channels with copious benefits and a huge return on investment. Research suggests that for every $1 spent on email marketing, businesses can expect an average return of $42! Investing in email marketing is unquestionably a vital element of every business’s digital marketing strategy. To learn about 6 actionable email marketing tips to maximize your ROI, read this.
For further support to grow your business, our team at Parkyd Digital is available and happy to help you. With a deep understanding of the digital marketing landscape and over a decade of industry experience, we offer holistic marketing solutions that are customized according to your requirements to effectively boost your ROI and achieve your business goals.