More than 100 billion emails are sent and received each day, some of which are designed strictly for personal purposes, whereas others are used to promote a company’s products and services (source). If you’re still skeptical of email marketing, check out some of its top benefits listed below.
#1) Instant Results
Unlike most forms of advertising, email delivers instant results. If you purchased an spot from a local radio or television station, you would likely have to wait weeks for it to air. And when you’re waiting for your ad to air, you aren’t generating sales or leads. As soon as you click the “send” button within your email software, however, your promotional message will be sent to everyone on your list.
#2) Metrics, Metrics and More Metrics!
Email marketing offers tons of helpful metrics that business owners and entrepreneurs can use to optimize their campaigns and generate a higher return on their investment. This includes conversion rates, click-through rates (CTR), open rates, list growth rate, forwarding rate, and unsubscribed rate. Email marketers should constantly analyze these metrics, using them to tweak their campaigns for a higher ROI. Turning a blind eye to these metrics is a recipe for disaster, so make sure you are analyzing each element associated with your campaigns.
#3) Cost Effective
According to the global credit bureau Experian, email marketing is a whopping 20 times more cost effective than traditional media. A study conducted by Direct Marketing Association found that every $1 spent on email marketing in 2011 returned an average of $40.56. That’s over 4,000% ROI!
Yet another benefit of email marketing is the ability to personalize your messages to better fit the recipient. If you know the recipient’s name (which you probably do), you can use tokens to automatically include it in the email’s subject line and/or body. For instance, “Hey [insert name], have you seen our new product?” Bu including the addressing recipients with their name, it creates a more personal feeling, which subsequently boosts open rates and conversion rates.
Even if you don’t know their, you can still include other personal information in your emails such as the recipient’s geographic region (e.g. state, city, zip code) or their past purchases. “How do you like [insert previously purchased product here]? If you enjoy it, you should check out this product.
#5) Greater Brand Awareness
When performed correctly, email marketing also promotes greater brand awareness. A typical business-to-consumer email contains promotional material as well as the brand’s name, logo and other identifiable material. Over time, your target audience will begin to associate your brand with its respective logo and material; thus, creating greater brand awareness.