Did you know that the open rate is the highest when companies send two emails per month? No, right? That is the magic of email marketing. Email marketing has been on the advertising strategies list for about a while now but the main issue with email marketing is that it gets neglected most of the time. Email marketing is a simple method that business owners can use to reach an impressive amount of people. More than just newsletters, email marketing is a channel through which business owners can inform about many other things about their products and services with a lesser amount of money spent.
In this blog, we will look from the start to the end of email marketing and how it can be useful to help businesses grow. So, without any more delay let us get into it!
Table of Contents
Types of Email Marketing Campaigns
Before getting into being a pro in email marketing for your business, the first step is to understand the three types of email marketing campaigns. They are as follows:
1) Educational mails
The first type of email marketing campaign is educational mail. These emails are used to provide knowledge to the subscribers which can add some kind of impact and value. They give the potential customers relevant pieces of information about your business. They can take place in the form of:
- Blog Posts – To drive high traffic to your website, sharing blog posts and their updates via email marketing is a good strategy.
- Newsletters – To keep your audience engaged and retain them, send valuable information, tips, and different news related to industries as newsletters. This will keep them interested.
- Guidance – To make customers understand your products and services better, provide an email with step-by-step guidance on using your product or service.
Educational email marketing helps build a sense of trust and belonging between your business and customers.
2) Promotional mails
The next type of email marketing campaign is promotional mail. The main strategy behind these emails is to grab a high amount of sales and revenue. As the name suggests, promotional email marketing is used to make customers aware of the products and services and use it to attract them to purchase. They can take place in the form of:
- Sales and discounts – Promotional email marketing must be positively used for sending catching emails about ongoing sales and discounts. It must be used to showcase exclusive discounts so that customers can make purchases.
- Announcements – Email marketing is a very effective strategy to give subscribers information about the launch of new products and business owners can mention the features and specifications of the products as well.
- Cart Reminders – Customers who have not completed their purchase and left the products in their online cart, should be sent emails about reminders. These reminder emails can help customers complete their process of purchase.
Promotional email marketing must be used frequently to get maximum revenue.
3) Customer retention emails
Customer retention emails are a type of email marketing to retain customers and build a strong relationship with them. It is a small yet effective method to lessen churn rates. They can take place in the form of:
- Reactivation Requests – Customers who are inactive can be sent reactivation emails. These emails can be personalised according to the customers. It is generally a call to engage with your business again.
- Thank You emails – To show loyalty and build trust with your customers, sending thank you emails is a must. After purchasing your product or service, being thankful and sending emails can take your business a long way.
- Feedback Survey – Using email marketing to collect feedback from your customers is yet another strategy. This shows the customers that their opinion matters to your business.
Customer retention emails build a strong bond with the customers and can reduce churn rates.
Benefits of Email Marketing for Business Growth
Implementing email marketing in your business is beneficial to great extents. It can help you get an unmatched reach and drive sales and growth. The major benefits that email marketing provides which can help your business grow are:
1) High ROI
Email marketing provides a high return on investment (ROI). The amount spent on email marketing is less compared to other forms of marketing. Email marketing helps reach a wider audience using personalised messages and content. It reduces the need for labor and can send the right email to the right person according to their needs and demands. Having said this, email marketing reduces costs providing a high return on investment.
2) Appeal to different segments of your target audience
Not all customers have the same kind of demand. Each customer has a different need and demographics. Email marketing divides the target audience into different segments according to their tastes, needs, demographics, preferences, wishlists, and purchase history. Thus, dividing the target customers into different segments and groups gets a better rate of conversion and purchase.
3) Time and money savings
Email marketing makes use of automation. Emails like thank you messages, greetings, birthdays and many others can be sent through automation. Automation in email marketing makes sure that the message is sent to the subscribers on time and consistently. Email marketing thus becomes cost-effective and saves time.
4) Strong relationships with customers
Email marketing is a simple and direct channel of communication. It helps in building a strong relationship with the customers. Valuable campaigns and compelling emails can help retain customers for your business which can be helpful in the long run. Email marketing can be used to take feedback from customers which builds loyalty and trust among the customers.
Building an Effective Email Marketing Strategy
For a successful email marketing strategy, key takeaways must be kept in mind. The first step towards building a subscribers list must be to define the goals of your business. You must determine whether your goal is to increase sales or spread awareness. A business must segment the audiences into specific groups according to the needs and preferences of the subscribers. The next step should be towards crafting engaging and effective personalised emails. Conducting A/B testing on emails is essential to know the effectiveness of the email campaigns.
Being consistent and regular with email marketing campaigns is essential to be on the competitive edge and gain a competitive advantage.
The mistakes to avoid while conducting an email marketing campaign are as follows:
1) Using poor lines.
2) Poor testing.
3) Not being consistent.
4) No personalization.
5) Ignoring mobile users.
Segmentation and personalisation of email marketing campaigns enhance customer loyalty and trust. Subscribers get a sense of belonging and feel valued. Thus, segmentation builds strong customer relationships and loyalty.
Importance of email marketing in today’s business landscape
Email marketing is required in today’s business landscape. It helps in building a strong relationship with your customers. It is a cost-effective way of marketing which is very simple and can give desirable results of increasing sales and boosting organic traffic. Email marketing is a strategic way of continuous improvements and helps in driving sales. Segmentation allows personalisation which helps in capturing a decent crowd of customers and potential subscribers. Email marketing gives a hand to business owners to survive in the competitive market.
Measuring Email Marketing Success
The key metrics to track the success rate of email marketing are:
1) Open rate – It measures the effectiveness of the percentage of recipients opening your email.
2) Click-through rates – These calculate the percentage of people who actually click on the emails.
3) Conversion rate – It calculates the percentage of people who have finished the desired action.
4) Bounce rate – It measures the percentage of people who could not receive the mail.
5) Unsubscribe rate – It calculates the percentage of people who have unsubscribed from your email list.
Measuring the effectiveness of email marketing campaigns through these key indicators can get you the best-desired results!
Facts
Before moving toward the end of the blog, let us see some facts about email marketing that will make it even more important for you to implement in your business:
- Email is the thor most important tool for advertising.
- According to marketing studies, Tuesday is the best day to send an email.
- More than 70% of consumers prefer email as a source of their communication.
- Business owners who segmented their email list, experience a higher open rate.
- Emails that include social sharing buttons have a higher click-through rate.
These are the top 5 facts about email marketing which makes it essential to implement it in your daily business strategy.
Conclusion
Thus, we come to the end of the blog. We learned about the types of email marketing, the effectiveness of email marketing, and the need for segmenting the subscriber list. The number of people using emails as a daily source of communication is increasing. To grab a high number of sales, retain customers, and help businesses grow!
Adding email marketing to your business is a very good strategy to grow your business. So, what are you waiting for? Implement it today to gain the most from it!