The Importance of Email Marketing for Your Business

The Importance of Email Marketing for Your Business

In today’s digital age, more attention is being placed on social media advertising than ever before, causing many to wonder if email marketing is still relevant. However, the importance of email marketing for your business cannot be understated. After all, email marketing often has hidden benefits that are not available through social media and other forms of advertising, thereby benefiting businesses that do have and utilize email list. This post answers some common questions such as “what is email marketing?” and “is email marketing still relevant?” to show how important email marketing is for today’s businesses.

What is Email Marketing?

Email marketing is a form of digital advertising that is made up of 2 main components: (1) an email list that consumers sign up for, and (2) the emails that the businesses send out to this list. Sounds simple, right?

But as simple as email marketing sounds, some think that email marketing is an ineffective strategy due to the time it takes to build up an email list, along with the difference in immediate reach between an email marketing campaign versus a different form of digital or traditional advertising.

However, there are several elements that make email marketing stand out from other advertising options and therefore make it an important focus for today’s businesses:

Email Marketing Allows Quick and Easy Contact with the Customer

The great part about email marketing is that it allows quick and easy contact with the customer that isn’t present in most other forms of advertising.

For example, if you decide to run a flash sale and want to do it within the same week, there are few opportunities to create and run a television, radio, print, or web campaign specifically related to that ad in such a short time span.

However, email marketing allows quick and easy communication regarding the details of the sale directly to your customers.

Email marketing benefits businesses in many ways such as notifying customers of store openings/closings, special events, new products, etc. The ability to contact customers like this is a huge benefit of email marketing for any line of business.

Email Marketing Provides a Larger Space to Promote Information/Sales

Social media, television, radio, print, and internet ads can be great for communicating information, but they’re often limited to how in-depth that information can be.

Email marketing, on the other hand, provides a large amount of space that can communicate your brand’s message.

Email Marketing Directly Reaches the Target Audience

Like we said before, some companies may brush off email marketing because of its lack of immediate large-scale reach in addition to how long it can take to build up reach.

However, what they forget is that email marketing targets your core audience, as these are the people who have already engaged with your business by signing up for your email list, which means that they are also the most likely to engage again. This is perhaps the key element that makes email marketing stand out from other forms of digital advertising.

By the numbers:

49% of consumers said that they would like to receive promotional emails. (Statista)

49% of emails are opened on a mobile device (IBM)

Adding video to your email marketing increases click rates by 300% (Martech Advisors)

Personalized subject lines provide 50% higher open rate (Lifecycle Marketing)

Average open rate for a “Welcome” email is 82% (GetResponse)

Every $1 spent on email marketing generates an average return of $32 (DMA)

93% of Business to Business marketers use email to deliver content (Hubspot)

73% of millennials prefer email communications from businesses (Hubspot)

59% of respondents say marketing emails influence their purchase decisions (Hubspot)

Frequently Asked Questions About Email Marketing

Is Email Marketing Still Relevant?

Email marketing is extremely relevant in today’s market, as it’s an extension of your business. Email marketing can improve branding, provide information, and help achieve your business goals. In fact, marketing emails have a higher engagement rate than social media!

Is Email Marketing Worth the Cost?

Email marketing is a high impact, low cost form of advertising. It’s estimated that email marketing has an average 3,800% ROI, which means that for every $1 spent on email advertising, businesses earn an average of $38 back. That can be a huge return in investment for your business!

How Can Email Marketing Help My Business?

There are several ways that email marketing can help your business, but it all depends on what your goals are. Depending on your goals and (therefore) how you choose to structure your marketing emails, they can result in more website clicks, increased revenue, more brand awareness, etc.

How do I get Started with Email Marketing?

Did you know that Media Venue provides email marketing services? Let us help you develop an email campaign that will get your brand noticed by consumers.

For more information on how to get started with email marketing, contact David Clark (david@mediavenue.com or 502-855-4786) to learn about the different services and benefits that come with working with Media Venue to create your email marketing campaign.

 

 

 

Sources:

Forsey, Caroline. “The Ultimate List of Email Marketing Stats for 2019.” HubSpot Blog, https://blog.hubspot.com/marketing/email-marketing-stats.

“Interactive and Digital Marketing in Louisville KY.” Media Venue, https://www.mediavenue.com/interactive-and-digital-marketing-in-louisville-ky/.

Santora, Jacinda. “Is Email Marketing Dead? Statistics Say: Not a Chance.” OptinMonster, 18 July 2019, https://optinmonster.com/is-email-marketing-dead-heres-what-the-statistics-show/.

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