When it comes to growing your business, it’s essential to understand which marketing efforts are worthwhile. With more options than ever before, it can be overwhelming to choose the best channel for your business.
Having said that, email marketing continues to be an effective strategy for eCommerce businesses looking to thrive in this crowded market. Apart from being 40% more effective at conversion than some social media platforms, this strategy is also an excellent channel for generating leads, closing sales, and retaining customers.
However, before you launch an email marketing campaign, it’s important to establish a trustworthy online presence for your business, so customers can easily browse and shop in your online store. A good place to start is with the most appropriate business hosting and a relevant domain name.
Therefore, if you’re unsure whether email marketing is the best marketing strategy for you and how effective it would be, continue reading this article.
Generates the Highest ROI
ROI, or return on investment, refers to the incremental revenue generated by each dollar spent.
Implementing a high-return-on-investment marketing strategy is vital for businesses to remain profitable and operational over the long term.
In comparison to other forms of marketing, email marketing typically generates the highest return on investment. Businesses receive a $40 return on investment for every dollar spent on this marketing strategy. In retrospect, search engine optimization (SEO) generates only $22.24, while mobile marketing generates just $10.51.
When properly implemented, this practice provides the following benefits to businesses:
- Provides justification for marketing expenditures
- Evaluates marketing effectiveness
- Provides insight into areas where additional spending should be made
With the right information, businesses can develop a lucrative marketing strategy that maximizes revenue while spending as little as possible.
Boosts Web Traffic
The most significant marketing challenge for businesses, according to HubSpot, is generating traffic and leads.
Regardless of the size of your business, you must have an email marketing strategy. In 2021, there will be 4.147 million email users and 319.6 billion daily emails sent and received.
Given that people worldwide can be reached via their email inbox, email marketing is an effective strategy for increasing traffic to your website.
The first step in email marketing is to create an email list – a collection of email addresses from individuals who consent to receiving emails from you.
Individuals typically exchange their email addresses for a special offer, valuable resources, or freebies.
Consider offering a healthy recipe eBook in exchange for your customers’ email addresses if your business sells kitchen appliances.
Following that, ensure that the emails you send are not spammy. Avoid sending them too frequently or with excessive information.
Rather than that, keep them succinct and include a prominent call-to-action button to direct targeted traffic to the pages you select.
Email Is the Preferred Mode of Communication
83% of customers prefer to communicate with brands via email. Having said that, it is essential to consider your audience’s needs. For example, 54% of consumers want businesses to make it simple to unsubscribe from their mailing list. As a result, include an easily visible unsubscribe link for their convenience.
Additionally, personalize your emails, as this strategy increases conversion rates sixfold. Additionally, customers report being more likely to shop when presented with personalized offers and product recommendations. Netflix is an excellent example of this, as they send emails to customers based on their viewing history.
Without personalization, you run the risk of losing customers, as 74% of them become frustrated when content has no relevance to them.
Increases Sales
When done correctly, email marketing can significantly increase sales. Consider using email segmentation to accomplish this. Email segmentation is the practice of segmenting your email list into distinct groups so that marketers can tailor unique campaigns to each segment.
As a marketer, you can segment your audience based on a variety of factors, including signup date, group interest, and subscriber activity.
Having said that, segmentation enables marketers to respond to subscribers’ behaviors and tailor messages to their specific needs.
When compared to non-segmented emails, segmented emails can generate 14.31 percent more opens and 100.95 percent more clicks. Additionally, this email marketing strategy reduces bounce rates by 4.65% and unsubscribes by 9.37%.