Email marketing has been in use for many years. It is a successful digital marketing strategy with affordable investment and worthy returns. However, any marketing strategy will give results only when you know the intricacies of the process and ways to maximize returns.
Let’s understand what email marketing means and how to implement it for your business. We’ll also list the leading tools to set up an automated system to manage business emails.
What is Email Marketing?
Email marketing allows you to directly interact with your target audience. You can share updates about new product releases, discounts, offers, deals, etc., through email. Email marketing started as a one-size-fits-all service where the same email was sent to every address on the list.
In today’s world, Email marketing thrives on personalization. The emails are sent to individual customers based on their purchase history and preferences. Email marketing is not limited to sending promotional and sales messages. It is a way to connect with the target audiences and make them feel loyal to the business. You should inspire trust in customers and strengthen their relationship with your business.
Types of Emails
The emails in email marketing can be classified into the following types:
Promotional Emails - These are used to promote a product/ service. The emails are typically short and to the point, with attractive images and a direct link to the product page.
Informational Emails - These are also called newsletters and are longer in length. Informational emails still have a call-to-action button but don’t explicitly sell anything to the customer. They provide information and make a conversation.
Re-Engagement Emails - These emails are sent to subscribers/ customers who haven’t been active lately. The emails serve as a reminder of your business and nudge customers to take a look at your products/ services and place an order through the link in the email.
Reasons to Choose Email Marketing
Email marketing has been popular with SMBs and large enterprises because of the various benefits it offers.
When planned correctly, email marketing can give up to $36 ROI for every dollar you spend on it. Startups and small businesses with limited budgets can make the most of this digital marketing strategy.
According to a survey, 37% of the companies have increased their email marketing budget in 2021. With a majority of Americans owning a smartphone with an internet connection, email marketing has become one of the go-to options for many businesses. After all, people check their emails on their phones, tablet, and computer.
Another survey shows that four billion people check their emails every day. Furthermore, you can integrate email marketing with other strategies and promotional campaigns.
Email Marketing Strategies
● Start with customer/ market segmentation
● Personalization is must
● A/B Testing makes your email more readable
● Be consistent
● Use CTAs and white spaces appropriately
● Don’t ignore optimization and analytics
Metrics for Email Marketing
You need to track the progress of your email marketing campaigns to determine their success and make changes when required. Use the following metrics for analysis.
● What is the opening rate of the emails sent to the target audiences? Anything around 20% or more is considered a good open rate.
● What is the bounce rate? Clean the email lists regularly to keep the bounce rate to a minimum or less than 2%. A higher bounce rate will get you marked as spam by the ISP (Internet Service Provider).
● What is the unsubscribe rate? It’s common for people to unsubscribe to newsletters, but this rate should not be higher than the subscription rate.
● What is the click-through rate? How many customers are clicking on the CTA in the email to visit the landing/ product pages?
● What is the conversion rate? How many customers who opened the email and clicked on the link are actually placing an order with your business? After all, only orders and purchases will bring you money. The email marketing conversion rate should be around 2-5%. The higher the better.
Benefits of Email Marketing
⮚ Cost-effective and affordable
⮚ Direct communication with customers
⮚ Higher conversions
⮚ Create brand awareness
⮚ Increase brand credibility
⮚ Promote customer engagement and loyalty
⮚ Understand customer preferences
⮚ Automation using email marketing software
⮚ Integration with other marketing strategies
Email Marketing Tools
There are many free and paid tools for email marketing. You can choose the one that suits your business requirements and budget.
TXTImpact is a Business Text Service marketing service provider in the US market. We offer SMS and email marketing software solutions to small and medium-sized businesses. Our services are tailor-made to suit the specifications of different industries and each business. Integrate SMS and email marketing strategies using our affordable software and automate your business processes with ease.