The goal of every new business is to generate revenue with a quick ROI. With today’s technological advancements, marketing communication has never been easier. The modern marketer can reach prospects through several digital channels, from search engine marketing to social media platforms.
With so many innovative ways to reach prospective customers, it can be challenging to determine the best marketing strategy for your new business.
The answer is simple: Share your message where your audience will most likely see it. As of last year, there were 3.9 billion email users around the world. Email marketing remains a successful platform for converting contacts to sales. Not sure how to develop a solid email marketing strategy? Campaign Monitor can help.
What is email marketing?
Email marketing is the distribution of promotional messages via email to a carefully defined target audience. It can be utilized to boost sales, strengthen brand recognition, and build customer loyalty. Regardless of how many digital marketing channels develop, email marketing continues to be one of the best ways to contact and engage your target audience.
For more than ten years, email marketing has been the leading channel to deliver the highest ROI for marketers. It currently brings $38 in ROI for every $1 spent, a rate of 3800%. There are several contributing factors to email marketing’s success.
Email is one of the most utilized forms of communication. Most people use email daily, often several times a day. With the advent of smartphones, users can now check their email from anywhere. Last year, 293.6 billion emails were sent and received each day. These emails aren’t just person-to-person contact. They’re also a way for people to connect with their favorite companies. In fact, more than 70% of consumers prefer email communication as their source for updates from the businesses they follow.
Email marketing is cost-effective, so it appeals to businesses of all sizes. It’s possible to reach a large audience for very little investment. You gain direct access to inboxes of quality prospects while avoiding the costs associated with print advertising. Email marketing is a smart way to connect with your target base, identify new customers, and grow your business.
What makes email marketing successful?
The beauty of email marketing is that it enables you to keep in touch with your audience regularly. From welcome messages to follow-up thank you notes, email is an effective way to engage your audience and build customer loyalty. Personal messages can go a long way, and a customer who feels valued is more likely to support your business in more tangible ways.
Source: Really Good Emails
A recent study revealed that 68% of businesses had lost a customer due to indifference. Email marketing is an easy way to avoid this. Through email messages, a business can further enhance the customer experience and continue to boost ROI.
5 email marketing benefits for startups
As a new business, determining where to allot your marketing spend is critical to your success. It’s vital to generate new leads. However, your marketing strategy should be cost-effective and yield results. Here are five benefits that email marketing offers your new business.
1. Create individualized content with targeted messages.
Email marketing enables you to customize content. Messages can be personalized with the recipient’s name. Emails that include a customer’s first name in the subject line have a higher click-through rate than those that don’t. The more emails are opened, the more information you can learn about your audience. This allows you to discover their needs and pains and helps to develop strong relationships.
Source: Really Good Emails
Additionally, you’re able to create customized content by segmenting your contacts. This allows you to tailor your marketing campaign to different target groups, like one-time customers versus return visitors. Identify your prospects’ needs. Consider geography, demographics, interests, and even behavior. By targeting your messages in this way, you’re increasing the relevancy of your content, which can lead to more conversions and higher ROI.
2. Drive traffic to your website.
Email marketing campaigns allow you to include links in your message that take your audience directly to your website. Whether it’s a hyperlink or a CTA button, sending readers to your site can positively impact your SEO. By promoting targeted content, you drive qualified traffic to your site. This tells search engines that you’re providing valuable content, which can boost your website’s online rankings. Higher rankings lead to more visitors, which can lead to higher ROI.
Source: Really Good Emails
You can drive more traffic to your site by solidifying your email list. Build your database by making signup forms easy to complete. Only ask for the most basic information. Make sure your emails can scale to any device. Most people now access their emails from mobile devices. Therefore, your emails should function on a variety of platforms. Effectively reaching more people can bring even more business to your site.
3. Build brand awareness.
In addition to reaching current customers, email marketing is an effective way to reach people who are unfamiliar with your business. Email is nearly 40 times more effective than social media in gaining new customers. It’s an easy way to share information about your business. There’s also an excellent opportunity to send coupons or discount codes.
Source: Really Good Emails
Use email to set your brand identity that people will recognize when they receive your messages. People are creatures of habit. Set standards early on for what readers can expect to find in your emails. Display your logo in the same place on each email. Ensure messaging includes corporate colors. Establish patterns in your emails that help create brand recognition. Consistent communications will increase the likelihood that people will think of your business when looking for products and services that you provide.
4. Track with ease.
Email marketing allows you the opportunity to see the effectiveness of your campaign easily. An important metric to track is your open rate. Be sure you’re using compelling subject lines to entice people to open an email. Click-through rate tells you the number of people who click on the links in your messages. Clicks per link offer you further insight into the type of content your audience prefers.
Source: Newoldstamp
Conversion rate shows how many new users you’ve converted with your campaign. Unsubscribe and forwarding rates reveal how people perceive your messages. Are they removing you from their contacts, or sharing you with theirs? Regardless of which information you track, set a campaign goal that includes a CTA. If people aren’t getting to your site, it’s time to re-evaluate your messaging.
5. Create brand advocates.
Email is one of the simplest communications to share with others. With the click of a button, your current customers can do your promoting for you. If you build a strong relationship with your client base, they can become advocates for your products and services. Word-of-mouth advertising is taken to a new level with email marketing. Make it easy for people to share your information by including clear CTA buttons that encourage readers to do so.
Consider special discounts to people who help promote your business. Ask long-time members to share your message in return for premium access to a new product. Encourage customers to refer a friend to build your contact database. Develop strong relationships with your current customers. Brand loyalty can lead to new prospects, exponentially increasing ROI.
Source: Really Good Emails
Email marketing best practices for small businesses
It’s easy to see that emails are an effective marketing tool, and you can develop a successful email marketing campaign by following these best practices.
Run a test.
Before you blast a message to your contact list, send a test copy to yourself. Check for errors, typos, and broken links. CTA buttons must take viewers to your website. Be sure content appears correctly on a computer as well as a mobile device. Don’t give this campaign an excuse to fail.
Schedule with intent.
Be deliberate in your email campaign schedule. Studies have shown that the best day to reach an audience with email is Tuesday. Keep this in mind when setting your campaign. Use your own data to adjust based on your customers’ needs.
Send to a healthy list.
Develop a quality contact list and only target people who sign up for your email communications. Don’t use purchased email lists or enroll people against their wishes.
Wrap up
Email marketing remains a preferred channel for today’s marketers, as it allows businesses to reach a wide target audience easily and affordably. Email marketing allows your company to:
- Create individualized content with targeted messages
- Drive traffic to your website
- Build brand awareness
- Track analytics with ease
- Create brand advocates
Email marketing is an effective and beneficial way to boost business and improve your ROI. To ensure success, follow best practices like testing your messages, scheduling with intent, and sending to a healthy list.
We can help your new business develop a beneficial email marketing strategy. For more information, contact our sales team today.