Why email is the best online marketing channel?April 26, 2020
Why email is the best online marketing channel?:
We try to avoid high-flown words, but here we’ll say directly: email campaigns are currently the BEST internet marketing channel.
Every time we voice this thought, it provokes a strong reaction from marketers and business friends.
“You are not right. PPC campaigns (contextual advertising) give a much higher return on investment and convert customers within 24 hours. ”
“You must try marketing promotion through opinion leaders. Marketing influence is everything. ”
“I do not believe that I hear it. Everyone knows that there is no more powerful tool than mentioning in the media. ”
In fairness, each of these tools is good in its own way.
But we still remain with our opinion: taking everything into account, we are still convinced that email campaigns are the best marketing tool.
Email is among the channels with the highest return on investment (ROI)
Every $ 1 invested in email marketing can generate $ 40 in revenue. According to other estimates, revenue may reach $ 44.
It’s a lot. Especially when compared with other channels in which you can invest.
Every $ 1 invested in influence marketing yields $ 6.50 in revenue.
Every $ 1 invested in Google AdWords advertising yields $ 2 in revenue. Mediocre, yes?
ROI is easy to calculate for PPC campaigns. You see the money spent and the proceeds. But this does not mean that PPC campaigns have the highest ROI.
When it comes to profitability, email campaigns are clearly superior to advertising PPC campaigns (and all other marketing channels).
Email mailings are relatively cheap.
Email campaigns have relatively low entry thresholds compared to alternatives.
Let’s calculate the costs:
First, you need a platform with A / B testing and other useful options. The tariff plan Pro from GetResponse , for example, with full functionality will cost you $ 35 when paid for 2 years in advance.
The next step is to collect email addresses. Revenue can be increased many times due to the sale of goods and services to existing customers. But if your company is newly established and does not have an extensive contact database, or if you want to expand the reach of your audience, the acquisition of new email addresses will cost you very little.
For example, the Wee Squeak team spent only $ 90 on advertising on Facebook and received 600 new email contacts in return.
And again mathematics. This is only $ 0.15 for one email address!
In general, a decent and profitable email campaign can cost you much less than $ 500.
For example, ordering an advertisement from an opinion leader can cost an order of magnitude less than this amount.
You can pay a few hundred dollars to a so-called “microinfluencer” (note to the author of blogs and channels Youtube, Instagram, etc., with around fifty-one hundred thousand subscribers) for displaying your product on Instagram. The disadvantage of this method is the fragility.
After the publication, the subscribers read the signature to the post, open the description of the blogger profile and go to your landing page.
Everything is great … as long as he does not publish the next sponsored post and does not update the link in the profile.
Clap! Link to your landing page disappears.
So you choose: spend $ 500 to attract leads, which you can repeatedly send letters, or to one post on Instagram and a link that will evaporate in a few days?
Email campaigns warm up (grow) leads until they are ready to make a purchase.
The average conversion rate barely reaches 1-2%. If your leads are not ready to buy, they need to be heated. This is where email comes into play.
Email newsletters do best with client cultivation.
Suppose you have a new customer who is thinking about subscribing to a coffee bean newsletter.
He is not going to buy anything. He has not yet fully understood the idea of your newsletter and hesitates in his decision.
If you start an aggressive sale and directly ask him to subscribe to the newsletter, most likely you will push him away and lose it later.
If you give him time and do not disturb him again, he may lose interest. One way or another, you will lose him again.
So what to do?
Heat it up with a series of automated emails:
subscribe to the newsletter – welcome letter – warming up lead – summarizing the purchase / conversion.
Tell us about your company, indicate that you are a law-abiding organization that you can trust. Let him digest this information.
Then send him positive feedback about your company and thanks from customers.Let him analyze the information again.
Now is the time for bolder steps. Send a free e-book with coffee making recipes and see how the customer responds.
If he downloads it, this is a good sign. You can ask him to make a purchase.
If the client ignored this email, it means that he is not ready yet. Continue to supply him with new information. Wait until it gets warm enough.
Again, it is difficult to perform on other platforms.
Below is an example of how you can grow leads using Facebook Ads.
Suppose you create an individualized audience of 10,000 people who came to your page with frequently asked questions. Then you run a series of advertisements to target it.
You can think of individual advertisements that target those who have interacted with your ad in the past. This is a rather complicated procedure, besides, you will not have the opportunity to see the whole process from beginning to end (as is the case with email campaigns).
If we are talking about growing leads , there can be no two opinions on this score: emails are one of the best marketing channels.
There are many inexpensive ways to build a contact database.
Are you looking for great ideas to increase your contact base? Available options are limited only by your imagination.
We are serious! There are more than 40 ways to increase the base of email-addresses.
Want quick results?
Here’s how to get 1000 new email subscribers in just 30 days.
Achieve a wider audience coverage via email-newsletter can be, by showing creativity and having a good understanding of the interests and needs of the target audience.
Why is this so important?
You can pay $ 49 per month for an email marketing automation platform , but the conversion is not limited to the size of your payments or the tariff plan.
If you have become an unsurpassed master of email campaigns, you can increase revenue by two, three, or even four times, while maintaining the same level of monthly costs of $ 49.
Let’s compare with Google AdWords advertising:
Clearly, AdWords has the tools to optimize advertising and targeting.
But you can’t increase your audience (which is equivalent to increasing your contact database), bypassing the Google platform.
This means that if you want to double your revenue, you’ll have to double your advertising budget . In fact, you will have to more than double your budget, because the CPA increases as your audience grows.
In addition, more advertisers appear on the market each year, so the average cost of AdWords campaigns is increasing.
The average cost per conversion in 2016 was $ 33, which is 214% more than in 2013 (although the price fell slightly compared to 2015, the trend is generally upwards).
Marketers agree that personalization is not just a newfangled trend. But only 14% of them use marketing automation to personalize their marketing projects.
Many believe that personalization is “not effective enough.” Why? Because they misuse its capabilities.
For example, specifying the name of a contact in an email campaign is not exactly personalization.
Personalization applies to the content of the letter and the time it is sent.
New leads, customers who viewed the product but did not buy, loyal customers – they should all receive different letters.
For beginners, there is the option of automatically composing letters using fixed forms (mail merge). You can instantly send thousands of personalized emails with a simple tool that takes data straight from the table.
The next step is to think of a tool that will know which letters to send to a particular contact, when to make a newsletter, and then automatically perform these actions on your behalf.
For example, Brennan Dunn segmented all of his contacts based on who they are, what problems they have, or what they can buy from him.
This database allows you to tailor email campaigns to each recipient. Even better, you can coordinate the sending of a series of letters in advance: personalized letters improve distribution results, and marketing automation increases the scale and scope of actions.
You make less effort, get excellent results, saving half the time. Not so bad.
I think it is now clear to you that we are supporters of email newsletters.
Of course, email campaigns are not a panacea. You should not refuse other marketing channels in favor of email. Each channel has its advantages and disadvantages. The best marketing strategies are universal and take advantage of the benefits of various channels.
To sum up, small companies with limited resources, email marketing allows you to achieve more with less.
Literally, this means an increase in the number of leads, a reduction in response time at lower costs and lower labor costs.
Do you agree? Are you on our team?