The key to running a successful business is alluring customers and clients to do business with you. And, that is possible with premium marketing strategies.Regarding digital marketing, businesses have myriad options to explore in driving targeted customers to take the ultimate action on their website or store.But one digital marketing channel that has consistently done the job better than others is email.Surprised? Survey concludes that email is still the number one way to influence a purchase.
Why Email Marketing?
Email marketing promises to deliver the highest ROI of all marketing channels.It still works, depending on your target audience, business model, and the products you offer.It’s time (past time, actually) to include email into your marketing strategy. If the ROI isn’t enough to convince you, then, in that case email is also the marketing channel most consumers say they want businesses to use to communicate with them. Effective email marketing strategies are “personal, targeted, and crafted with the customers’ objectives in mind.”
How do you measure success?
Defining the parameters of measuring the effective email marketing strategy is crucial. Generally the parameters are Open rates and Click-through-rates.
Why does Email Marketing work for businesses?
Return on investments (ROI)
When it comes to ROI, the email marketing channel is the most enticing one. Through emails, companies can send tailor-made and relevant information to targeted customers. Engaging content helps in improving click-through rates and conversions and thereby leading to improved sales. Emails help in building positive relationships through scheduled communication. Furthermore, relevant email content always offers value and keeps prospects and already existing customers interested in the brand.
If opting for an Email marketing management agency, businesses have a choice of various pricing plans. The basic packages for email marketing are pocket-friendly making it a cost effective marketing strategy. Moreover, considering the amount of emails sent regularly, companies are incurring very low or no per-unit cost.
With the penetration of the internet worldwide and the number of internet users increasing everyday, there is a large potential customer base to reach digitally. Email as a marketing channel provides a huge opportunity for marketers to tap its potential.
An email allows marketers to send customized messages to improve open rates. By personalizing the email content, the marketer ensures that every prospect or customer is offered the value proposition. Email personalization can happen through the segmentation of subscribers on varied parameters. Segmentation enables the right content to reach the right audience, which helps in improving customer trust and loyalty.
An email provides an enormous opportunity for marketers to connect with readers and establish a long-term relationship with them. Delivering relevant worthy email content is essential for engaging the audience between purchases. Also, companies can also communicate with the audience through feedback emails and surveys. It is a way to gain input from customers and improvise them.
Apart from the benefits mentioned above there are various types of email marketing which makes it a diversified marketing channel.
Types of Email Marketing:
1. Welcome Emails: The first email sent to the new subscribers or customers confirming the subscription and congratulating them is a welcome email. It is the most effective type of email marketing as the open rates and click-through rates are higher when compared to other types. Also, there are immense opportunities for conversions through welcome email. Exclusive offers, or content is made available to entice a new audience and to build a relationship with them.
2. Promotional Emails: As the name explains, promotional emails promote products or services offered. The only objective of such emails is to push customers to make buying decisions. But, having quite decent open rates and click-through rates for promotional emails in a crowded inbox is quite challenging. As a result, marketers put effort to differentiate themselves and grab the attention of the readers. Marketing emails to be successful must not sound too promotional.
3. Transactional Emails: Transactional emails are sent out confirming a commercial transaction. Specific actions like a purchase, sign up, reservation booking, password resets, and so on, automated emails, referred to as transactional emails. As these emails provide the information required for customers, the open rate is relatively high.
4. Newsletter Emails: Emails sent regularly, such as a weekly or monthly, to build a relationship with the customers, are termed email newsletters. These emails usually share useful and informative content like company updates, blog items – articles, product information, with customers in a consistent manner which can build top-of-mind awareness. Make sure the content is intriguing to keep the readers glued.
5. Milestone Email: Milestone emails are celebratory emails sent on important milestones of customers like anniversaries, birthdays, special occasions, and so on. These emails have customized content to increase customer engagement. The goal of milestone emails is to make a customer feel important by giving them an exclusive experience, which increases customers’ association with the product or service for a long time.
6. Survey Emails: Survey emails are feedback email requests sent to customers to know them better. Feedback is crucial to understand customers, to know what they think about products or services, the improvements or changes they want to see in the offerings, and so on.
Email Marketing being customer-centric, content-driven, compatible with devices, privacy prioritized, automated, and interactive has become a powerful marketing and advertising channel. This ever-evolving nature of email marketing has made it a preferred marketing channel for marketers.