Email marketing – is it really worth the investment of time and money?
If you’re sitting on the fence when it comes to email marketing, or you’ve started using it but aren’t entirely convinced that you’re doing it right (and if it’s even making a difference), then this post is for you!
First things first…
I’ll just get this out of the way – choosing whether or not to communicate with your customers via email actually isn’t up to you… it’s up to who your ideal customer is and their preferred marketing channel for receiving info from brands.
This is extremely important if you personally detest receiving promotional emails. If this is you then you need to put the icks aside and put your marketing hat on.
One more thing about email marketing …
If you’re still hell-bent on only communicating with your customers via social media then consider this: there are more than 4.3 billion Internet users in the world and nearly 80% of them have social media accounts BUT nearly all of them have an active email account.
That’s more people!
Ok last one, I promise!
Now, before I actually get into the 3 reasons why email marketing is important for your business, there’s one more thing you should really understand and that’s email marketing has one of the highest ROI’s of all online marketing channels.
It still rings true… to understand why, think this: email marketing is a permission-based marketing channel, meaning that people have to ‘opt in’ before you can communicate with them. This is a much more conscious decision on their part, also known by us marketing nerds as a micro-conversion.
Whereas with social media, anyone can ‘Like’ your page, but it’s a more passive conversion because you’re communicating with them over rented space, e.g. Facebook. You (and your ideal customer) don’t own this space so you can’t control who sees your content.
So now that all of those fun facts are out of the way… here’s 3 reasons why email marketing is actually important for your business!
1. Building brand equity
Getting someone’s email address is your chance to start a 1:1 conversation about your brand and your why. You’ve been given a rare opportunity to showcase what you’re made of and they’re ready to listen.
Social media is great, but it’s the equivalent of walking into a room full of people and shouting your messaging over the loud conversation and music. The focus just isn’t on you.
With email there’s less distractions so the chance of someone reading your message is much higher, and that means they more likely to take an action.
2. Rollin’ in the deep data
Over time you may notice different types of people are buying from you, but you may not know why.
Could your hand-poured hibiscus-scented soy candle be the next IT product that’s about to go viral on TikTok, or has your Canva course started attracting older females aged 70+?
Whoever these wonderful people are, you need to know why they are buying from you. More importantly, are there any more of them out there that you could be attracting?
These questions can be answered simply by asking your customers for feedback. Whether this is an ongoing strategy or in survey form, being able to dive deep into customer insights will help you create amazing products or services that you know customers want.
3. Your greatest asset!
By creating an email list you’re increasing the value to your business #fact.
Think about this … if you’re planning to sell your business in the future the size of your email list will add value to your overall sale price just like physical equipment, stock, course content, management systems and processes … and so on.
The best part about growing an email list is that it’s bank account friendly.
So that’s it!
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