Let's face it. Your day starts with a steaming cup of joe and a quick run-through of your inbox, doesn't it?
You're not alone in this. Email usage is widespread and cuts across different age groups. A study by Pew Research Center revealed that as of 2019, 90% of adults in the United States use email, making it one of the most widely adopted communication tools.
Email marketing. While it may seem like a buzzword, it's one of the worthiest, most economical, and potent tools at your disposal to connect and engage with your audience. But what does it truly entail? Stripping it down to basics, email marketing is fundamentally about using email as a platform to publicize products or services.
But let’s get one thing straight – it's about more than just selling. It's about constructing and sustaining relationships, building credibility, and delivering not just products, but value to your audience. It's about forming tailored campaigns that focus on supplying pertinent content to a group of people who genuinely want to hear from you.
This means that, at its heart, email marketing is a tactical way of sending personalized messages that ring true with your audience, by leveraging the communication channel they frequent the most - their emails.
Let's explore why email is such an effective tool for business.
Everyone has Email
The first reason email is important is simple: everyone uses it.
With a staggering 4.3 billion accounts worldwide, it's hard to find someone who doesn't have one.
Think about it - how often do you check your email? It's astonishing but true; a whopping 99% of email users open their inbox every day. This statistic screams opportunity - an opportunity for your business to establish a connection, to reaffirm your brand's presence, and to engage directly with your audience.
If you aren't sending an email newsletter for your business, you're missing out on a massive opportunity to connect with the people that are interested in your products and services.
Segmentation
Segmentation - the division of a business' email list into smaller, more specific subsets.
Email marketing allows you to send targeted campaigns that speak directly to the interests, needs, and behaviors of each specific segment, increasing relevancy and engagement. So, it's not just about sending emails, it's about sending the right emails to the right people at the right time.
As a business consultant, I've served a range of completely different businesses. It wouldn't make sense for me to send them all the same emails. Segmenting my audience allows me to send tailored insights to help each group, instead of a watered down message that tries to appeal to everyone.
Here's some specific data to show the impact segmentation can have on your business:
- According to a 2017 study by the Direct Marketing Association (DMA), segmented and targeted emails generate 58% of all revenue.
- MailChimp research shows that segmented email campaigns have an open rate that is 14.31% higher than non-segmented campaigns.
- The same study found that click-through rates of segmented email campaigns are 100.95% higher than non-segmented campaigns. This indicates that more recipients are not only opening the emails but also interacting with the content, leading to increased engagement.
- According to a report by Campaign Monitor, marketers have noted a 760% increase in revenue from segmented campaigns.
You Have Full Control
Consider email marketing as a crucial aspect of your 'owned' media. This means that you have full control and autonomy over your subscribers' list, its management, and the sort of content you deliver.
Your audience chooses to receive your messages by subscribing to your emails, opening up a direct line of communication. You get to decide when and what to communicate, creating a platform for consistent engagement and fostering a stronger relationship with your audience.
There's a certain assurance when you deliver emails that your message reaches the people who actually opted-in to hear from you, unlike social media, where your content may get lost in the sea of posts at the whim of an unpredictable algorithm.
Connect with your Customers
Aside from its sales potential, what I really love about email is the way it allows me to connect with my audience.
View email marketing less as a sales pitch and more as a relationship-building tool with your customers.
When I removed the pressure of generating sales in email, I started to see it as a fun way to connect with people who have similar interests to me. I get to share my insights with people and open up discussions about topics I'm passionate about.
This mentality inadvertently caused my messages to come across less 'salesy' and more authentic.
The Psychology of Email
Think about it: What happens when you regularly slip into someone's inbox? You become a fixture, a reference point. You begin to occupy a space in their cognitive map when they think of the type of product you offer.
I can testify to this first hand. I subscribed to the newsletter of a pizza restaurant a while ago so I see their emails pop up in my inbox every week. Now, every time I start craving pizza, guess who instantly comes to mind? Yep, them. Why? Because they've cemented their presence in my mental landscape.
This is the psychology of email at work. Regularly sending newsletters to your customers ensures you remain top of their mind. Each email serves as a constant reminder of your brand and what you offer. It's a way of subtly saying 'We are here and this is what we do'.
Every email is an opportunity to reinforce your brand identity and the value you offer.
Easy to Measure Analytics
One of the most common marketing problems I see is a failure to track metrics.
With email marketing, it's easy to keep track of how your campaigns are doing. Most email marketing tools have pretty robust analytical dashboards, where you can see exactly how many people see your emails and interact with them.
So if you're wanting to have a better idea of how your marketing efforts are performing, start by keeping an eye on your email statistics.
Cost Effectiveness & ROI
Feel like your marketing budget has you in a chokehold? Well, with email, you can breathe easy.
No billboards, no TV spots. Email marketing cuts the high cost fluff, leaving you with a cost effective way to reach your customers.
Unless your email list is massive, you probably won't be spending much money to send out your email newsletters. Its high effectiveness and low cost makes it one of the highest ROI marketing activities that you can implement for your business.
Supports Other Marketing Efforts
Let me share a secret with you; email marketing isn’t a standalone strategy. It’s a cog in the wider marketing machine, designed to drive engagement not solely with your emails but your brand as a whole.
Your email blast isn't just a message; it's a springboard to your Instagram, Facebook, or LinkedIn. It’s about pushing the right buttons at the right time to propel your audience right where you want them.
Here's what I include in my emails to cross pollinate my marketing strategies:
- Links to my social media pages
- Buttons that direct people to schedule a call with me on my website
- Sections of text to tell people about my affiliate programs, loyalty programs, and referral programs.
- Sections highlighting seasonal discounts and other special offers
- Buttons to view articles and other resources on my website
It's easy to overlook the humble email when the world is so focused on shiny social media and fancy websites. But believe it or not, email is the closest thing we have to a silver bullet in marketing.
Businesses that embrace the power of email marketing will cultivate an expansive customer base, a sea of engaged, repeat customers.
Beyond its simplicity and familiarity, email marketing, when executed well, provides unprecedented degrees of personalization and segmentation. This isn't a billboard on the highway. This isn't a blanket radio ad. This is personalized, direct messaging reaching people in one of the most frequented digital spaces—their inbox.
