Email Marketing

How Can Email Marketing Drive Revenue Growth For Small-To-Medium Businesses

Email was here long before social media became a thing. And although the increase in the number of various platforms and apps might make email look kind of prehistoric, it's still one of the best methods to get the word (about your business or anything else) out there.

There are many ways email marketing can drive growth for businesses of any size. Most importantly, it can help you build and maintain a regular relationship with your clients through personalized content and communication. Plus, it helps to establish your brand and increase authority in your niche.

Is Email Marketing Still Relevant?

Many marketers wonder if emails are still as effective a strategy as they used to be in the old days. Well, it is, and there are enough numbers to vouch for that. For instance, approximately four billion people prefer email for everyday communication.

Email marketing revenue is expected to reach nearly 11 billion dollars by the end of 2023, according to experts.

Around ninety-nine percent of customers regularly check their email. In other words, your marketing emails have the same possibility of impacting the customer's mind as good SEO. This is why close to forty percent of successful global brands are increasing their email marketing budget.

You might also be amazed to learn that over seventy percent of people aged 25-40 (young but also having spending capabilities) prefer email to communicate with the businesses that serve them.

Top 5 Ways Email Marketing Drives Revenue Growth

So, as you can see, email marketing, although old, is not a thing of the past. In fact, it's still thriving and going strong. Find out how it can bring more money to your business.

1. Builds And Maintains Strong Customer Relationships

All successful brands have one thing in common- a loyal customer base. These customers use, recommend, and support your service almost religiously. So, building a loyal customer base is essentially the first step towards ensuring a steady and increasing revenue stream.

Email marketing can be of immense help here. Building a strong relationship with your customer requires communicating with them on a personal level.

This means your communications will be personalized and unique for each customer. This can be as simple as starting an email by addressing your customer by their first name. Emails like this have the greatest chance of being clicked compared to other forms of marketing messages.

At the same time, emails can be an effective way of collecting customer feedback. For one, your customers can write back to you. Also, you can hold surveys to get valuable insights on how you can improve your service.

Customers can even express their frustrations and disappointments with your product if they have any. Venting in emails will make them less likely to express their dissatisfaction in public forums.

2. Influences Customers To Make A Purchase

People are often undecided about whether or not they should spend money on a product, even when they want to. They are subconsciously waiting for someone to convince them that this purchase will be worth their money. Email marketing can be very effective in this case.

For instance, you can send a reminder email to a customer who put something in a cart but backed out at the last moment. You can convince them to complete the process. Or, you might ask them what prevented them from making the purchase.

Emails are also a great way to help your customers discover new offers. Or, if you want to reward regular customers with voucher codes and coupons, email is probably the best method. This kind of email marketing influences your customers to buy more from you and thus increase revenue.

3. Automation To Increase Output

Reducing waste of money, time, and talent is a tried and true way to increase your company's revenue. And email marketing automation tools can help you with that.

Manually writing personalized and targeted emails can be exhausting and time-consuming. Plus, you have to take the help of professional writers. All this can add up to significant expenses. This time, effort, and money spent on writers can be used in other sectors of your business.

Email marketing automation tools like Mailchimp, Mailjet, and similar products can reduce all those manual efforts. This means you can downsize your marketing staff or relocate resources to other deserving departments. That way, you can significantly increase your company's output and drive revenue growth.

4. Gets More Visitors To Your Site

All businesses depend heavily on their online storefronts to increase sales and revenue. To make that happen, you need to attract lots of traffic to your website. Because those visitors are the ones who will ultimately convert into customers. This is why companies produce helpful, SEO-friendly content to drive web users to their sites.

Email marketing can be very helpful in bringing in more traffic for your business blog. Every time you post content on your website, send an invitation email to your customer list to read it. Add a prominent call-to-action button to your letter so the customer can reach your site with one simple click.

5. Effective Marketing Campaign At Low Cost

Most traditional marketing campaigns are expensive and elaborate. Arranging such a campaign demands money and labor and can be very stressful. As a result, your staff loses valuable energy that could have otherwise been spent on product improvement and designing strategies for sales generation.

Moreover, you aren't sure whether the money and time you invested in the campaign will yield the expected returns. In contrast, email marketing is far less costly and much easier. Most email marketing automation tools charge 25-50$ a month to send thousands of targeted emails to thousands of contacts.

Most importantly, with email marketing, you can be quite a hundred percent sure that your promotional messages are reaching the specific customers you want. This is not the case with traditional marketing techniques, where you have to leave things to chance.

Conclusion

Email marketing is the best way to keep your customer close to you. You might have a social media business page with a huge following. But what if the page gets deleted? You will lose all your customers just like that!

Meanwhile, a well-built email list is yours forever. Need some help with setting up an email marketing strategy? Contact us at Charles Prime