According to a recent study by Litmus, email marketing is the marketing channel that yields the highest ROI (return on investment). Every $1 spent yields an average of $42, which is a 4,200% return on investment.
Fun fact: in 1978, Gary Thuerk, a marketing manager, sent the first commercial email to inform people about a new product. He had a return of about $13 million in sales.
Before I go on and on about the benefits of email marketing, let me define email marketing.
Email marketing is a unique type of digital marketing that uses email to promote a business’s product or services. It serves as a valuable means of communication between a business and its customers.
Email marketing is an excellent way to build a reputable brand and a community of loyal customers.
The benefits of email marketing to startups and other businesses are too numerous. In this article, I’ll show you ten of these benefits and why you should leverage them.
10 Amazing Benefits of Email Marketing for Startups and Small businesses
The first benefit of email marketing is that it can help generate leads. Email leads are people who share their contact information with you, such as their names and email addresses, through an opt-in form that they filled in exchange for an offer.
Through email marketing, you can nurture these leads and turn them into loyal customers. The quality of leads you obtain through email marketing is higher than other marketing channels. It consists of people who have by themselves shown interest in your business.
Communicate with your audience
Emails are a means of communication that businesses and startups should leverage. According to Hubspot, there are about 4 billion email users worldwide, so it is a good way to reach your audience.
You can send relevant and engaging content to your audience through email marketing and inform them of discounts, upgrades, and new offers. It is also a means of educating your audience about various aspects of your business.
To save costs and time
A very important benefit of email marketing is that it is very inexpensive. It does not involve outrageous costs like printing and running online ads. There are email marketing software providers that help to run your email campaigns at low prices. They help grow your email lists, segment your audience, and build templates. These software packages also give reports on your campaigns.
The popular email marketing software providers available are Mailchimp and Constant Contact.
Email marketing also saves time through automation and ready-made templates. You can trigger that customers receive certain emails based on their recent activities with you.
Build a strong relationship with your audience
Email marketing has proven to be a good way of building a solid and credible relationship with customers. After you have built your email list organically, one of the key benefits of email marketing is that it helps to nurture this relationship. You can achieve this through regular and relevant communications that allow you to stay in touch with your customers.
Remember, these are people who opted-in for your emails. So you know that they expect your emails and are interested in your offers. Email marketing helps build a loyal community that keeps growing as they refer you to more people.
Send personalized messages
Email marketing provides you the opportunity to send custom-made messages to your audience, unlike other forms of marketing.
Email segmentation allows you to segment your audience and send personalized messages to them based on their interests, demography, needs, and level of engagement.
This is a highly effective approach as it makes you reach the right people with the right message at the right time. This will, in turn, boost your customer-brand relationship, increase sales and promote your brand as a whole.
Read also: Benefits of branding for startups
Market and promote your products/services
One of the main benefits of email marketing is that it is one of the best marketing strategies, if not the best. You can market your products/services effectively through email. Your customers won’t feel pressured with this because of the good relationship you have with them through the other relevant and engaging content you send from time to time.
A marketing statistics on Hubspot reported that two-thirds of customers had made purchases due to direct email marketing.
Boost sales and increase revenue
An increase in sales and revenue is one of the major benefits of email marketing. One, it is an effective marketing strategy. And two, it involves people who have shown interest in your product.
Email marketing provides a great opportunity for impulse buying. With an excellent copy and a compelling call-to-action, customers won’t hesitate before clicking the link to purchase the product.
Drive traffic to your website
Email marketing for startups can be a great way to drive traffic to your business website. Through compelling content and a clear link, customers can get to your websites, where they make purchases or interact with your content.
To get customer feedback
Getting feedback from customers is another one of the many important benefits of email marketing. You can send out surveys and forms. Reviews from customers help you know how you can serve them better, and email marketing is an easy way to get those reviews and feedback.
Easy to measure
Last but not least of the benefits of email marketing is that it is easier to improve email marketing strategy than other marketing channels.
This is because most email marketing software will allow you to track open, click-through, and conversion rates. This data eases the process of identifying mistakes and making the necessary adjustments.
With this information, you’d agree with me that email marketing is an excellent way to build your reputable business brand and scale it to greater heights. Many businesses make use of it and are enjoying these great benefits. It is definitely worth your time and investment.
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