Top 5 Advantages of Email Marketing

QUICK SUMMARY

If you haven't implemented an email marketing strategy into your business I am sure you are feeling like now is the time, and you are right! Email marketing is a direct, low-cost marketing channel that has a proven to high return on your investment. It is a great opportunity to genuinely connect with your customers and offer them your products and services in a unique manner all while increasing your revenue. Here are the top 5 reasons why we think you should implement email marketing into your overall marketing strategy.

What is email marketing?

Email marketing is defined as sending an email of a promotional, marketing or commercial nature to a certain audience that has opted in or subscribed to your email marketing list. It serves as a direct communication channel to your audience and your customers that proves to be effective especially because they have explicitly chosen to receive your emails and want to hear from you.

This becomes a great opportunity to engage with your customers by sharing product information, promotions and other content to subscribers who are waiting to open your emails.

Why is email marketing important?

Email marketing allows businesses to target their customers with personalized content, messaging, and offers based on their preferences.

Using email marketing platforms marketers tailor communications to specific segments of their customer’s by creating unique campaigns for new customers, returning customers or customers that have not engaged or visited their store in some time. There are ample opportunities to further filter your segments and really connect with a specific target audience within your list of subscribers depending on what your business goals are. 

What are the some statistical benefits of implementing email marketing into your communication strategy?

Here are some insightful statistics for 2022, which highlight the benefits of email marketing:

• The global e-mail marketing market was valued at $7.5 billion in 2020 and is projected to increase to $17.9 billion by 2027. (Statista, 2021)
• Marketers who use segmented campaigns note as much as a 760% increase in revenue. (Campaign Monitor, 2019)
• 78% of marketers in 2020 said email is important to overall company success, compared to 71% in 2019. (Litmus, 2020)
• In fact, email generates $42 for every $1 spent, which is an astounding 4,200% ROI, making it one of the most effective options available. According toHubspot in 2022

Here are the top 5 advantages we see from implementing email marketing in your overall strategy. 

1. You own 100% of the revenue generated from email

With email marketing you are in control of your company's growth and customer experience. Any revenue that is generated from email marketing is 100% yours. This is unlike other platforms like Amazon which take a cut of your revenues. Furthermore, using these types of platforms makes you rely on third party data which does not always give you the specific insights that you are looking for, which is the exact data that is necessary to have when creating unique, customized and targeted email campaigns that align with your brand and give your customer’s a positive experience.

Email marketing allows you access your customers' behavioral data generated from your own website and you can then develop a messaging strategy that is impactful and truly connects with your customers and make offerings that are impactful and generate revenue. 

2. Email continues to be a low-cost marketing channel, especially compared to social media 

Compared to social media advertising and paid search advertising, email continues to be a low-cost marketing channel and most of the time it is even free. Considering that, email marketing also has the potential for 4.3 billion users which is more than facebook and instagram combined. (Kinsta, 2021)

Email even offers a better ROI as much as 122 percent on average, which is significantly higher than other marketing channels, as you can see the advantages of investing in email are undeniable.

3. Email automation platforms make email marketing a breeze

Choose a platform and start collecting emails! All you need to do is set up some signup forms and popups and you will see that before you know it you will have a decent amount of subscribers! You can then start building email marketing flows which are emails that are sent automatically at different stages throughout the customer's buying process. Depending on the different actions they take on your site, your emailing platform can send them automated emails offering discounts, encouraging them not to leave the site, or to return to the site if they had added something to their car and left it abandoned. These are only a few examples of what kind of automated emails you can set up to increase revenue and encourage buying. The great thing is most of these email marketing platforms like Klaviyo make it easy to set up these types of automations by having email templates that you can use for a variety of different customer actions. 

4. Email has higher average conversion rates than most other marketing channels

Since your email subscribers have specifically signed to your emailing list so they don't miss your communication efforts, these customers more often than not become some of your most engaged and valuable customers.

Compared to social media email marketing conversion rates on average are at least three times higher.  This rate goes even higher if you put effort into segmenting your audience and send them targeted emails with custom content and offers that you know they will like.

5. Email helps build lasting customer relationships and improves Customer Lifetime Value

With your email subscribers giving you permission to send them whatever you want and saying that they want to hear more from you, this is the perfect opportunity to be able to start building long lasting relationships with them and improve your Customer Lifetime Value (CLV). You can start this relationship off on the right foot by having an automated email response for when they subscribe to your emailing list, this is known as the welcome flow. 

Email marketing platforms like Klaviyo already have welcome flow templates ready to go for you, all you need to do is plug in your content and products.

This is your opportunity to make a good first impression by saying hello and introducing your products and offerings to your new subscribers. Try to think of how you would service your customer if they walked into a physical store. What products would you show them? What kind of offers or promotions would you highlight? How would you incentivize them to return to your shop?

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