Let's admit that every business dreams of generating more and more ROI.
Well, here's good news for you - email marketing promises that.
Sometimes, it seems that email marketing diligently follows a phrase, "you dream, we fulfill." Haha! Good one, right?
Well, it's proven that email has the highest ROI of any marketing channel available.
Don't trust my words? Believe in a stat, then!
Email marketing makes $ 42 for every $ 1 spent. That's an ROI of 4200%. I know this sounds surreal, but it is what it is.
So that means you can actually sell while you are asleep and can generate an ROI of 4200%. Who wouldn't want that, seriously! This email marketing thing sounds lucrative from all angles.
That's the reason despite email marketing being one of the oldest ways of promoting products/services, marketers still prefer it in today's digital era for optimum outcomes.
Being a more specific form of digital marketing, email marketing is booming unprecedentedly.
It is the most direct and effective way of connecting with prospects and turning them into loyal customers. If done rightly, email marketing can play a critical role in creating lasting, profitable relationships between businesses and customers.
This guide will walk you through the basic (and crucial) aspects of email marketing to help you get started with it; thus, benefitting your business. After reading this guide, you can generate quality leads, boost your sales, and earn 4200% ROI.
Excited to take your first step into the world of email marketing? Perfect.
Let's get started with it and see what wonders email marketing can do for businesses.
What Is Email Marketing?
Email marketing is exactly what the term implies and what you think it is. Marketing done via email is email marketing.
In layman's terms - when you send any promotional messages to your customers or potential customers in order to persuade them to take necessary action, that's email marketing.
In other words, email marketing is a type of direct marketing where businesses send emails to promote brands, build relationships with customers, or sell products/services. An effective email marketing informs and engages your prospects about your brand and its offerings.
How Does Email Marketing Work, Exactly?
Email marketing is a straightforward process. Businesses often use email service providers (ESPs) to send marketing emails. Email marketing is not complex; however, you need to emphasize A / B testing to identify which email will work the best for your audience.
Usually, an effective email campaign requires three essential elements - an email list, an email service provider, and clear goals.
An email list is a database of contacts to whom you will send emails, email service provider helps manage your email list, and clearly defined goals help you with everything to achieve your business goals.
What Importance Email Marketing Holds in Today's Age and Scenario?
Why is email marketing so important even in today's age? Isn't it dead? It should be. Especially in times where social media marketing is booming. But you know what? Marketers still use email marketing and that too very often. Why do I know?
Well, email is considered the number one communication channel. Above all, email marketing helps you stay connected with your audience, reach customers in real-time, and increase brand awareness.
Around 99% of consumers check their email daily. As mentioned earlier, email converts much better and generates higher ROI. In fact, per Statista, the global email marketing market was valued at $ 7.5 billion in 2020 and will increase to $ 17.9 billion by 2027.
So why is email marketing so important even in today's digital era? Why is it so popular? The simple answer is - it is used for multiple purposes, and it converts highly.
Types of Emails You Can Send to Your Prospects:
- Welcome Emails
- Newsletter Emails
- Special Offer Emails
- Lead Nurturing Emails
- Transactional Emails
- Milestone Emails
- Request Emails
- New Product Emails
- Abandoned Cart Emails
What Are the Key Benefits of Using Email Marketing for Your Business?
- Easy to Use - The best thing about email marketing is it's so easy to use that anyone can start with it. Creating email marketing is simple. All you need is an email template, signup form, and marketing automation workflow, voila! You're all set to start your first email marketing campaign.
- Gives You Full Control - Email marketing gives you full control over your communication. From deciding on email campaign type to choosing your target audience and sending emails, it provides you full freedom. So leverage this trait and engage your audience effectively.
- Packed with Precision - This is one of the most significant advantages of email marketing. Email marketing embraces precision very much. It allows you to target people who you already know and have details in your contact list. With this, your email becomes more precise, personalized, and result-driven.
- Embrace Cost-Effectiveness - Email marketing is one of the most inexpensive ways of marketing. Yes, you read that right. To begin with your email marketing campaign, all you need is - an email list, a basic plan, and an email service provider. All this costs you less than a pizza. Sounds lucrative, right?
- Offers Personalized Communication - The best thing about email marketing is it is always personalized as per your target audience. You can always tailor your message to their needs and preferences. And when readers receive a personalized message, they feel special. As a result, they convert more.
- ROI-Driven Marketing Form - As I have already mentioned several times that email marketing (if done right) can help you drive better ROI (around 4200%). So it's an undeniable fact that email marketing is very much ROI-driven. And this is what most businesses crave.
- Easily Measurable - Today's digital world offers so many tools that can help you measure your email marketing results hassle-free. Google Analytics is one good example of the same. You can set goals, track conversions, measure the results, and even modify your campaign accordingly.
How to Get Started with Email Marketing?
An effective email marketing campaign can quickly boost sales if done correctly. However, as a beginner, starting with email marketing might appear daunting. However, it's not as complicated as people have made it look. But the question that arises here is - how exactly should you get started?
Well, all you need to do is just follow the below simple steps!
1. Establish Your Goals
Before you begin with your email marketing, you need to have a clear goal in mind. You should know what exactly you want to accomplish with the emails. Remember, your emails need to be targeted and purposeful. Always. The easiest way to identify your goals is to align them with your company's marketing goals and KPIs. Determine goals first, execute later.
2. Choose an Email Marketing Service Provider
Once you have a clear goal in mind, the very next step you should take is - choose an email service provider that can work best for your business. ESPs will give your email marketing campaign a more professional look, feel and help you execute your email marketing campaign in a better way. Having said that, ensure you choose the one that goes perfectly well with your marketing goals.
3. Build Your Contact List
Always remember, effective email marketing starts with customers opting in to receive messages. Build your contact list before you head start your email marketing game. How to do that? Import a list of known contacts, or you can even build a new list from scratch depending on your goals. Make sure you prepare a list of the right people to send your emails to obtain optimum outcomes.
4. Add Your Contacts into Your Email Marketing Account
Now it's time to add all your contact list to your email marketing account. It's pretty simple. Upload a contact list from an existing spreadsheet or import it right from your Gmail or any other email account. Do whatever feels convenient to you. It's advisable to keep your contact list organized to send out targeted emails based on specific interests.
5. Select the Type of Campaigns
There are so many types of email campaigns marketers send to subscribers and even potential customers. The type of campaigns you choose depends on the goals you have established. So decide whether you want to send a newsletter, marketing offer, make an announcement, or anything else. Whatever you choose to send, make sure it must align with your marketing goals and readers' interests.
6. Plan and Execute Your First Campaign
Now it's time to plan and execute your first campaign. I know you must be excited, but it's a crucial step. Therefore, you need to keep a few things in mind. Focus on template design to craft a beautiful message that can convey your brand message clearly, simply, and impressively. Emphasize subject lines, overall layout, and various other things to maximize conversion rates.
7. Track Your Results and Refine
You can't just sit back and relax after executing your first email campaign. You need to measure the results. Why? Because email marketing can never reach perfection; it's constantly changing. So you need to measure it regularly to see what's working, what's not, what needs to be changed, etc. When you track your email marketing campaign results, you find ways to refine them.
Email Marketing: Final Thoughts
If you think email marketing is dead, you need to think again. If you utilize email marketing the right way, it can do wonders for your business, literally. From engaging your customers to delivering higher ROI, it can do a lot. I hope this email marketing guide helped you learn the basics of email marketing and how to get started with it.
So what are you waiting for? Take a step ahead, leverage email marketing, and take your marketing game to a whole new level! Good luck.