When it comes to boosting the ROI of your business, email marketing is in second place only after social media (21%), display ads (14%), and video (5%) in Finances Online’s list of leading marketing methods.
In light of its potency, you may be wondering, “How much does email marketing cost?” Unless you know the answer to this question, you won’t know how much it will cost your small business to use email marketing.
The good news is that in this post, we’ll go through the average cost of email marketing. You can then use email marketing to expand your consumer base and make your business more profitable than ever before. Continue reading to find out more.
- Cost of Email Marketing on the Entire Internet
- Constraints on Email Marketing Budgets
- Quality and Quantity of the List
- Design and Templates
- Number of emails sent out each month
- Automated campaign management tools
- Assisting and Documenting
Cost of Email Marketing on the Entire Internet
This varies from business to business, however there is a standard price for email marketing for small enterprises. It will cost between $10 and $25 a month for a basic software bundle. Additional features, on the other hand, might raise the monthly fee to as much as $1,190.
Constraints on Email Marketing Budgets
Costs associated with this form of advertising are influenced by a variety of factors. A few examples of these factors are: template and design quality and quantity, quality and size of the mailing list, campaign automation software, monthly email volume, customer service and reporting, and number of users.
Quality and Quantity of the List
To ensure that you’re emailing the proper individuals when you send out an email, you should have a list of contacts, often in segmented lists. The size and quality of a list will have an effect on email marketing costs, as will the number of recipients on the list. Many email marketing software providers have a minimum amount of contacts that you can send out your emails.
There is also likely to be a ceiling of between 100,000 and 200,000. There are a few that allow you to have infinite lists, but they are few and far between. Do you anticipate an increase in the number of people on your mailing list? Using software that allows you to increase the amount of contacts on your list may be preferable in this situation.
In addition to the size of your list, you’ll need to decide if list segmentation is necessary. You may want to pay more for this email marketing tool if, for example, you have two distinct groups of clients who buy two distinct kinds of products.
Design and Templates
Clear, engaging, and true to your company’s brand design is a critical component of effective email marketing. There must be a well-designed email template that not only incorporates your brand’s color scheme and typeface, but also makes an impact on the eye of the recipient.
More than 60 email templates can be found in certain email software applications, while others contain more than 200. You’ll also need to factor in additional costs if you engage a professional to create your email templates.
Consider how essential templates and design are to you before deciding how much to pay for these things when selecting an email marketing business.
Number of emails sent out each month
The cost of your email marketing is also influenced by the volume of emails you send out on a monthly basis. Multiply the number of contacts you have by the number of emails you send each month to get an estimate of the volume.
In addition, keep in mind that if your lists are divided, the math will be a little trickier. Once you’ve done the math, you’ll have an idea of the monthly email volume you require.
Choosing a greater number is always a good idea when you believe your company will expand. Consider the fact that email volume is also unlimited.
Email marketing expenditures can range from $25 to $1,915 per month, depending on the volume of emails sent. These calculations will assist you in identifying the most advantageous price for your needs.
Automated campaign management tools
Many tools are available to help you execute a more efficient email marketing campaign. Basic job automation, client profiles, send-time optimization, conversion tracking, and A/B testing are among the features included.
With capabilities like this, you (and your team) are able to focus on more sophisticated activities connected to both email marketing and operating your business at the same time, allowing you to get more done in less time.
Make a thorough assessment on which of these tools will be most beneficial to you. Decide how much you’re willing to spend on them and how much that will contribute to the overall cost of your email marketing.
Assisting and Documenting
When estimating email marketing expenses, keep in mind the level of customer service you may expect. Many features, such as a customer support team that is available via multiple channels, might be termed support.
Some alternative sorts of assistance are available online, such as online knowledge centers or discussion boards where you can talk to other users about problems. Live chat, phone, email, or a combination of these can be used for live support.