Why Email Marketing Is One Of The Most Cost-Effective Forms Of Generating Leads
Email marketing, while it is easy to use, it is also a convenient method for reaching your target audiences. Moreover, according to a Litmus study, the return on investment that can be achieved through email marketing is at a jaw-dropping number of $1:$36. Meaning, for every dollar spent on email marketing you get back $36. Now, that is huge! Plus, when it’s about lead generation, email is still one of the most effective in moving leads up the sales funnel.
So what exactly makes email such a cost-effective channel for lead generation? In this blog, that is exactly what we are going to explore.
1. You Can Reach A Broader Audience
Topping the list of reasons is the fact that everyone has a business email account that they check multiple times a day, whereas not everyone has a Facebook, Twitter, or LinkedIn account. The number of email addresses is predicted to reach a staggering 4.6 billion by 2025. The reach of email is huge. Whoever may be your target audience/ prospects, they do use email and it is thus easier to connect with them.
Email has a better delivery rate when compared to other marketing methods. Although email doesn’t guarantee that recipients will click on the email, they are 88% more likely to do so than they are with Social Media content that they may not even see. Now, this certainly gives email an edge over other marketing channels.
2. It Can Help Build Your Reputation with Segmentation
Building and strengthening customer relationships is of great importance in today’s times. This is what eventually leads to loyal customers who support your business. So how can a brand build this bond? With emails sent to segmented audiences. As relevant content is what they expect and love, segment your email list into smaller groups; this way your prospects will be receiving content that they are interested in. Now, a carefully crafted email in the inbox is what is likely to get forwarded, right? Your subscribers will be eager to share your email with their friends and family. Now their family and friends are certainly going to trust someone they know, right? Thus segmented lists and emails sent to these segments naturally encourage more referrals from existing leads.
3. Email Marketing Provides Sharing Options
Email is highly shareable. Recipients can forward an email to a colleague or share it on social media with a click of a button. Many email marketing campaigns include social media icons or buttons that make it easy for subscribers to share the email’s content on various channels. Additionally, some email marketing platforms provide the option to include a “forward to a friend” link within the email, which allows subscribers to share the email with their contacts.
By making it easy for subscribers to share your email content, you can potentially reach a wider audience and increase the effectiveness of your email marketing campaigns. However, it is important to ensure that the content you are sharing is relevant, valuable, and aligned with your brand’s messaging and goals to maximize the impact of your email marketing efforts. People are, therefore, more likely to share email content and archive useful emails for future reference. Relevant and valuable content is essential.
4. It Can Help You Deliver Valuable, Long Content
The only channel that allows for long-form reach out other than blogs and website content, is email. That said, sharing content on Facebook, LinkedIn, and Twitter can be difficult since there is little space to convey a message. Email provides more room to go into detail since people are more inclined to engage with the content. Hence, taking advantage of the greater real estate available in the email to convey a message, increases the conversion rate significantly.
Furthermore, email marketing provides a unique opportunity for you to personalize messages to each recipient, tailoring the content and offers to their specific needs and interests. This targeted approach has been proven to increase conversion rates and drive sales, making it a valuable tool in any marketer’s arsenal. You also get a lot of room for developing the story for conveying why your product/service is effective in email marketing.
5. Email Marketing Can Be Automated
In addition, the automation capabilities of email marketing software streamline the process of creating and sending campaigns, saving time and resources that can be directed toward other marketing efforts. Automation also allows for timely and relevant communication with customers, such as sending abandoned cart emails or birthday offers, which can further drive engagement and loyalty.
By delivering timely and targeted messages to subscribers, you can increase the likelihood of subscribers making a purchase or taking another desired action. This, in turn, can increase revenue and ROI. However, it is important to note that while automation can save costs, it requires an initial investment in terms of time and resources to set up and optimize. Additionally, you should ensure that their automated emails are personalized, relevant, and valuable to their subscribers to maximize the effectiveness of their email marketing efforts. Overall, email marketing automation can be a cost-effective and efficient way for businesses to engage with their subscribers and drive revenue.
While email marketing may seem old-fashioned, it’s far from outdated. This digital marketing channel is the oldest, the catalyst of the Internet marketing revolution that changed the way we do business. As much as it is effective when it comes to engaging your subscribers, generating leads, and converting, it is also a truly cost-effective channel.