Email marketing helps small businesses communicate directly with their target audience. Here are eight ways email marketing can benefit your business.
- It is easy and cost-effective to reach your target audience with email marketing.
- In addition to providing a high return on investment, email marketing can make it easier to automate your marketing efforts.
- Getting started with email marketing involves choosing a provider that suits your company, creating a compelling reason for your target market to join your mailing list, and sending regular communications while tracking your analytics.
The purpose of this article is to provide business owners with information about using email marketing for small businesses.
In 1971, the first email was sent, forever changing how we communicate. Using email to connect with customers, build credibility in their industry, and increase sales is now common practice.
You can begin using email marketing today and see results right away, you don’t have to wait long to see results.
What is email marketing?
Email marketing is a form of digital marketing that involves sending emails to your target audience. This is one of the best ways to turn prospects into buyers and one-time customers into loyal ones.
You can use email marketing to send newsletters, promotional emails, and special offers to customers. This allows you to build loyalty for your brand by creating a relationship with your audience.
What are the benefits of email marketing for small businesses?
Email marketing can generate impressive results for small businesses with limited marketing budgets. Here are eight of the biggest benefits small businesses can get from email marketing:
1. High ROI (Return On Investment)
An eMarketer study shows that email marketing has a median return on investment of 122%, four times that of any other type of digital marketing. And if you implement strategies like A/B tests, double opt-ins, and regular schedules, you can significantly increase your sales number.
You can calculate the ROI of your email campaigns using the following formula:
Net profit (Gross profits from email marketing – Email marketing costs) / Email marketing costs
For example, if you garnered $2,000 in sales from an email marketing campaign after spending $150:
$1,850 ($2,000 – $150.00) / $150 = 12.33
Your ROI is $12.33. That means that each dollar you invested in the campaign it was worth $12.33.
2. Reach different segments of your target audience
You can create targeted campaigns using data about your email subscribers with email marketing.
It can be difficult to create personalized content if you are new to email marketing. The easiest way to make your content more personal is to include subscribers’ first names in your email. According to research, email subject lines with the subscriber’s first name have been shown to increase the opening rate by up to 26%.
Your email list will grow as you become more familiar with email marketing, and you can segment your audience based on their age, income level, gender, or length of time they’ve been your customers.
3. You’ll save both time and money.
Small business owners are short on time and money, so email marketing is a great way to save both.
After you create an email campaign, once your target list has been determined, the offer selected, and the design of your email is complete, it is automatically sent to the target list. Even while working on other aspects of your business, you can engage with your audience and create new customers.
There’s no question that your campaigns need tracking, and you may have to tweak things every now and then, but email marketing is one of the least involved marketing strategies out there.
The process is also fairly inexpensive, particularly if you compare it to alternatives like paid advertising. With very little money spent, you can create a professional email campaign that goes to thousands of subscribers.
4. Build stronger relationships with customers
Your marketing strategy should demonstrate value to consumers and inspire them to take the next step with your business. Your best opportunity to deliver useful, relevant content comes once someone subscribes to your email list.
It’s best not to include product or service sales in every email you send to your customers. Ensure that your emails provide value. The more you can show your customers how valuable you are to them, the more they will welcome your weekly communication.
Value does not always have to be a sale – it can also be information they will find useful. A link to a blog post you recently wrote can be included in an email, for example.
Make sure your email newsletter lists your social media accounts and encourages subscribers to connect with you on different platforms. This helps you establish credibility with your audience, and if they are intrigued by a particular email you send, they can learn more about your products or services by clicking on your social media links.
5. Increased sales
The growth of small businesses has been challenging last year and this year. The best way to grow sales is by using email marketing, especially if traffic to your brick-and-mortar store has declined significantly.
Some customers might make a purchase decision if they receive the right offer at the right time. Adding an element of urgency to your offers and offering a generous discount or free shipping are excellent ways to convert a subscriber into a customer.
Additionally, using email marketing to upsell to current customers can be extremely effective. Customers who have purchased from you in the past can also be re-engaged using email marketing.
You can motivate your audience to buy your products and services by creating personalized and targeted offers for the consumers on your list.
6. A strong following of subscribers
It’s an unfortunate fact of social media marketing that you do not own your followers. You will lose access to the following you built over months or even years if your Facebook Business page is unexpectedly shut down. This is why it is essential to build an email list. Your customer list is valuable, and you can reach out to those customers. Your contacts will remain yours if you change email providers.
7. Build brand credibility
It can feel like spam when emails come from an unknown sender or have a sketchy subject line. These emails feel off, and customers often delete them.
Often, customers will click and feel happy when they see an emoji. Others might want to unsubscribe from the email because of the same subject line. Your content must match the needs of your readers. You can increase your chances of having the email read by knowing your readers’ interests and needs.
Permission-based email lists with checkboxes allow customers to opt into your mailing list and know what kind of email they’ll receive, as well as how often.
8. Increased traffic to your website
Email marketing is an effective way to get customers to visit your small business website. Links to your website should be included in the email content. Your email campaigns can also drive customers to your website or blog so that they can engage with other great content.
If you are ready to get started with email marketing for your small business, contact us at Innovative Flare today. We are your partner for success.