There are plenty of marketing channels out there these days. Social media ads, PPC ads, display ads, direct response, print ads (yes, that’s still a thing), blogging, billboards, the list goes on and on.
Yet, through all of the technological advances and new platforms, email marketing has remained a consistent, profitable and useful way to communicate directly with current and potential customers.
Which is why email marketing continues to be a leading marketing method, despite the fact that so many people who claim to be “in the know” have declared it dead.
Here are 6 reasons why email marketing is thriving and why you should be using it for your business.
Reason #1 – 4300% ROI
Yes, you read that correctly.
According to the Direct Marketing Association, “Email marketing yields an average of 4,300% return on investment (ROI) for businesses in the United States.”
That means for every $1 you put into your email marketing; you get $43 out. If you’re wondering how that compares to social media, the average order value for email marketing is 3 times greater than the average order value for social media.
This makes it an easy, affordable marketing option for small to medium-sized businesses that don’t necessarily have millions, or even thousands of dollars in their marketing budgets.
Reason #2 – People Still Open Emails Regularly
99% of consumers check their email every day. That can’t be said for other communication channels like social media, print, blogs, etc.
What’s more, when people check their email, they open the emails from the businesses they’re interested in. “66% of consumers have made a purchase online as a direct result of an email marketing message,” according to the Direct Marketing Association.
Many consumers say they prefer receiving offers via email as opposed to in their mailboxes or on social media.
Reason #3 – You Own Your Email List
If all of your marketing is done via “outside sources” you’re at the whim of those platforms. Facebook could shut down your page or group. Google and Bing could stop running your ads. Any social media or advertising platform has the right to shut down your account, taking all of your precious information with it.
Plus, platforms come and go in popularity. And they go out of business. Which means you no longer have a way to contact anyone who had expressed interest in your products and services.
Unless you have an email list.
Once someone opts into your email list, you have their permission to email them directly, until they unsubscribe from your list.
If you think about it, interactions on social media are similar to someone answering the door when you knock, then talking to you through a screen.
When someone opts into your email list, they’re welcoming you into their living room for a cup of tea and a chat. It’s a much more intimate, direct line of communication.
And, it can’t be taken away from you by a bug in a software update or the whims of a social media platform CEO.
Reason #4 – You Have a Captive Audience
Social media and websites are full of distractions. When someone opens an email, you have their full attention.
Now you have the opportunity to share your message with that person and compel them to take the specific action you want them to take. That can be anything from reading a blog post to visiting a sales page.
To use similar comparison to the one above, it’s the difference between talking to someone at a party and having that cup of tea while chatting in their living room.
Reason #5 – Your List is Full of People Who Expressed Interest in Your Products and Services
When someone opts into your email list, they’re very clearly saying, “Yes, I’m interested.” Yet another reason why email marketing is so effective. Based on the lead magnet, content upgrade or other opt-in form a new subscriber uses to opt into your list, you know what they’re interested in.
You can put new subscribers into email campaigns for specific products and services, based on their interests. Customizing the messages they receive makes it easier to persuade them to buy.
Plus, you can send the information they’ll need to make their buying decision based on where they are in their buyer’s journey. People who are ready to buy need different messaging than people who are just starting to investigate a new product or service.
Which leads me to…
Reason #6 – A Constant Stream of New and Repeat Customers
Not everyone who opts into your email list will be ready to buy right away. Which is why email marketing is the perfect tool to nurture your subscribers until they’re ready to become customers.
By sending regular emails full of valuable information, you constantly remind your subscribers of your existence. As they continue their buyer’s journey, they’ll grow to trust your company and appreciate what you’ve given them.
People want to buy from companies they know and trust. They’re also more inclined to buy from companies that have given them value. Reciprocity is a powerful marketing tool. Email is a great way to set that trust and desire to “give back” up with your subscribers.
This also works with existing customers. They may not want to buy from you again for a while, but when they do, they’ll remember everything you’ve sent and the excellent value they got from the products and services they’ve already purchased, and they’ll click on the “buy now” button.
For you, this constant stream means more reliable revenue for your business and less work hunting down new leads, because you’ve already got them coming into your system.
Now You Know Why Email Marketing is Such a Powerful Tool
It’s time to set up an email marketing funnel of your own.
To help you do this, I’d like to give you my checklist of The 5 Components You Need to Build Your Email List so you can attract new subscribers and convert them into customers, using email marketing.
Click on the button below to download your copy.