Ever heard the following statement? “Half of my marketing spend is wasted. I just don’t know which half.” This is one of the main reasons why we started Optyn. It’s because we believe in Email Marketing and how it solves the problem to marketing spending waste. In starting a business, you need to make sure that you are visible to existing and potential clients. There are many ways to do this, but one of the most cost-effective ways is through email marketing. In this quick benefit article, we are going to highlight some of the important benefits of email marketing.
1. Cost of email marketing
The first benefit involves the cost of email marketing. Unlike other forms of marketing, email marketing is significantly less costly. Whether you use an email marketing service or send emails out yourself, the cost is relatively low. For example, Optyn and many other companies offer free trials or free tiers so getting started with email marketing will keep your cost close to $0.
2. Less Cost Makes Repetitive Contact Affordable
Research shows that an average individual needs to be exposed to a product or an advertisement of that product at least 8 times in order to arrive at a decision to finally purchase that product. Because of its low cost, you can send multiple emails at intervals planned to get maximum exposure.
3. High ROI (Return of Investment)
Studies show that email marketing returns up to a 40x ROI. Is it any wonder that it is a popular marketing tool? If companies can manage to grow their customer base and audience, their ROI will grow immensely. Your ROI is very important and even if you are spending $20/month on email marketing, your generated revenues of $500 – $1000 in now incremental sales can make a big difference – especially for the small business owner.
4. No Time Limits and Restrictions
With email marketing you can send communications 24/7. You are not limited to any particular day or time period as is the case with almost every other marketing channel. You can send emails when your customer or prospect is most apt to see it. The other nice benefit of it is that eventually your subscribers will interact with you and your marketing communications. They will either a) open the email and act, or b) delete it*. So whatever they do, you are reaching them and they are acting on it.
*Note: An action of emailing your customer that results in a delete can still be useful. You will continue to “stay on top of mind” with your subscribers, perhaps later triggering an action.
Email marketing allows for a more personal style of marketing. You can interact with your clients the way they want, when they want, and about what they want. It also allows you to segment your customer base and focus on target specific customer segments (young women, high earners, etc) differently in order to improve conversions.
The best part about email marketing is that the results are in the numbers. The old saying of “Half of my marketing spend is wasted. I just don’t know which half.” no longer applies with email marketing.
So, whatever your marketing strategy, make sure that you include email marketing as a part of it. While email marketing does get a bad rap sometimes, it cannot be overlooked by any business owner.
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