Business is booming. Or at least we hope it is. And you’re looking for new ways to improve your bottom line, drive sales, engage your audience and grow the company.
But marketing is expensive. And these days every dollar spent needs to count. Spending hard-earned revenue on marketing efforts needs to move the needle in the right direction. You can’t afford for it not to.
With so many ways available for you to reach your prospective customers, many businesses and marketers often overlook one of the most highly effective mediums available — email.
We know, we know. Email sounds boring, antiquated, and out of touch with today’s market. Or at least that’s what you’ve been led to believe.
But what if we told you that email is one of the single most valuable tools your business can implement? Don’t take our word for it. Let’s have a look at some cold hard numbers.
This article will share data and statistics that highlight email as an essential marketing tool that can be leveraged to attract, retain, engage and convert your target audience, as well as some quick tips as to how you can incorporate email into your current marketing pipeline.
Eye-Opening Email Marketing Stats
- Email is the third most influential source of information for B2B audiences
- 86% of business professionals prefer email for communicating business messages
- 59% of B2B marketers say email is their most effective marketing channel
- 73% of millennials identify email as their preferred method of business communication
- 66% of consumers have made a purchase as a result of a marketing campaign
As you can see from the above stats, email is anything but dead. In fact, it is a highly overlooked but impactful way to effectively communicate, connect, engage, and sell to your target audiences.
That’s all well and good, but what about ROI?
- 3800% ROI on average (DMA)
- 3x or higher average order values from email traffic vs. social media traffic (McKinsey)
- For every dollar spent on email, 18% of companies reported a $76 ROI (DMA)
- The average ROI for every dollar spent on email is $38 (Campaign Monitor)
- 77% of ROI comes from targeting, triggered, and segmented email campaigns
Ways You Can Improve Your Business with Email Marketing
And now on to the best part; how you can incorporate email marketing into your business.
1. The Newsletter
Establishing a newsletter is an important aspect of reinforcing your brand, messaging, and value to individuals that have opted in to your messaging. Newsletters also offer a great opportunity for you to provide upfront value, earn trust, and establish credibility with your audience. All aspects that will help grow your subscriber base and drive sales.
2. Triggered Campaigns
Email campaigns that are tied to user interaction on your site can yield exponentially higher conversion rates and ROI than “cold” or informational emails.
Example triggers may include:
- User visited your site recently
- User added an item to the cart but did not proceed with checking out
The above triggers offer a huge opportunity to contact the user and “save” the sale. For example, you may wish to send the user a special coupon or promotion to entice them to finish their transaction.
3. Targeted (But Cold) Outreach
Cold email, when done right, can yield substantial ROI and open up a whole new channel of traffic for your website.
Tips:
- Do your research and custom tailor your emails to your intended recipient
- Find something you have in common to break the ice
- Strike up a genuine conversation, not a sales pitch
- Use emotional hooks (excitement, mystery, anticipation, comedy, etc.)
- Keep it short, simple, and to the point
- Make it about them (benefits) not you
- Follow up
Closing Thoughts
Done right, email can be a great addition to your current marketing stack, yielding high ROI and a saleable channel to achieve your goals. If you are interested in learning more about email marketing or implementation of the above topics don’t hesitate to reach out. We love helping businesses reach their goals.