Why should my business focus on email marketing? Isn’t it better to use social media and
paid advertisements to promote my business?
To understand the importance of email marketing in today’s business world, one simply needs to look at the numbers. In a study done by eMarketer in March 2016 81% of U.S. SMB retail professionals said email marketing had helped them improve customer acquisition, while 80% of these professionals said email marketing helped them improve customer retention.
Moreover, email marketing delivers one of the strongest ROIs of any marketing channel. The average ROI of email marketing has been estimated to be between 3200% and 4400%. This means that for every $1 spent on email marketing, companies, on average, make $32 to $44 thanks to their investment. These other-worldly rates are an effect of the relatively inexpensive nature of email marketing coupled with the massive number of email users. While these facts and figures highlight the importance of email marketing, not all email marketing campaigns are the same, and email marketing professionals must be educated on how to do email marketing properly.
To guide your understanding of email marketing, here’s a list of some of the types of marketing emails that businesses use, and what they use them for:
Newsletters are one of the most common marketing emails sent by businesses to their subscribers. Their basic function is to nurture existing customers with company news and events while also improving brand awareness and nurturing prospects. Newsletters can be a great way to keep customers up to date with your company while helping to build positive relationships with them by consistently adding value to their lives.
2- The Welcome Email:
A welcome email is the first email a customer receives from your company when they subscribe to your email marketing list. Your welcome email, or welcome email series, should aim to thank new subscribers, showcase your brand, and place the foundational building blocks for a mutually beneficial relationship with your customers. Welcome emails are very important to get right because they get the highest open rates compared to all other marketing email types (This is because subscribers are fully expecting to receive a welcome email when they sign up.), which means that they are a great opportunity to deliver a clear, appropriate Call-To-Action to your subscribers.
3- The Seasonal Campaign:
Seasonal campaigns are similar to standard promotional campaigns, but are launched during holidays. Because customers are usually more likely to purchase near the holidays due to gift-giving traditions, income bonuses, or simply extended free time, these campaigns should be optimized to drive sales and increase conversions.
4- Lead Nurturing Emails:
Lead nurturing campaigns are a connected series of emails with an overarching goal of taking a lead from their starting point to conversion. By creating a steady stream of useful content, businesses can build trust with their leads while positioning themselves as experts on the topic that interests these leads. Lead nurturing emails are usually triggered by certain actions that a lead takes and are sent in a certain succession to optimize the lead nurturing process and to streamline a lead’s life cycle from awareness to consideration, and finally to where they convert and become paying customers for your business.
These are just a few of the types of marketing emails that businesses can send to their subscribers. There is a diverse multitude of marketing email types. Each is more suited for certain objectives and certain touch-points in the customer journey. However, even a simple campaign involving only a few of the possible types of marketing emails can still be incredibly effective at achieving business goals and increasing revenue.