As online marketing has evolved over the years, there are many practices which are obsolete and discarded. However, not everything should be shelved. One of the best and most effective means of marketing happens to be email marketing.
Considering email marketing to be obsolete is a mistake and one which can be costly for your business. Around 91% of all consumers check their emails. That’s a wider margin than social media from which people usually take breaks, lasting for days or weeks.
Still, think email marketing isn’t as great? The following are a few interesting reasons why you shouldn’t give up on email marketing as yet.
1. It is Inexpensive
Email marketing has a very large outreach and it is considerably inexpensive, particularly when you compare it with the costs of direct mail marketing. With costs for printing, mailing, shipping and more added to the mix, the overall cost of direct mail marketing comes down to $600 for a thousand pieces.
In comparison, email marketing costs considerably less with cost per piece coming to a few cents. In fact, packages for this mode of marketing usually fall below the $600 mark and they are flexible. They will grow as your list grows so you don’t have unnecessary costs to deal with.
2. Consumer’s like Getting Emails
In a study conducted by Marketing Sherpa, data showcased that around 72% of all Americans enjoy getting emails. Email is also their chosen mode of communication with businesses as compared to all other channels. With this preference, email marketing becomes a popular way to reach out to the majority of your target market.
Another study by Adestra highlighted that millennials prefer email marketing as well. In fact, a total of 73% of all millennials in the group said that they would rather get emails from the companies than direct mail. Again, this preference puts email marketing in a favorable light for your business.
3. Engagement through Email Marketing is Higher
Many marketers believe that engagement over social media is higher. While it is definitely faster, email marketing has a higher ratio and also gives a better return on interest (ROI). In fact, the Data & Marketing Association ran an estimate which attributed email marketing to give an ROI of nearly 4,300%.
Keep in mind these figures are only for well-executed email marketing strategies which are relevant to the consumer market they are engaging with. This is all the more reason to concentrate on fine-tuning your email marketing strategy.
4. Conversion is Also Higher
Another reason why social media marketing is preferred is because marketers believe it has a higher conversion rate. Again, email marketing trumps social media marketing as it has a conversion rate which is 40% higher than the conversion rate achieved through Twitter and Facebook.
With so many positives, it is a good idea to keep email marketing in your online marketing strategy. In fact, if you combine it with social media marketing, you can boost the results you get with ease. At the end of the day, you don’t have to pick one over the other.
