Many small business owners are yet to realize the power of email marketing and its potential to significantly boost the sales results of their small business. I didn’t too until I started taking email more seriously. According to statistics by Campaign Monitor, email marketing has a 4400% ROI, that’s $44 for every $1 spent.
Another data by Emarsys shows that 81% of small and medium scale businesses rely on emails as their primary customer acquisition channel and 80% for retention. This undoubtedly shows that email marketing is more effective in acquiring and retaining customers than social media.
What’s email marketing anyway?
In very simple terms, email marketing is using email to promote your business. Effective email marketing is about building a relationship and trust with prospects and customers. In other words, with emails, you’re keeping them informed and updated about your brand, and sending them offers about your products and services from time to time.
So why pay attention to email marketing as a small business?
If data is anything to go by, the aforementioned statistics in the introduction are enough reasons to pay serious attention to email marketing. Let me give you a little more insight into the game-changing power and potential of email for your business.
1. Everyone online has an email, but it’s not the same for social media.
Some of your customers may be on Facebook or Instagram or Twitter or LinkedIn, but one thing they all have in common is email; they all use email. And thankfully, 75% of adult users online say email marketing is their preferred marketing method.
2. 85% of email subscribers will receive your email as compared to less than 10% of social media followers who will see your posts organically.
Take Facebook for example only 1% of your followers will see your post except you boost it. Do you blame Facebook? They want you to run ads because that’s how they make their money. But if you send an email broadcast to your list, most of your subscribers will get it. While that doesn’t guarantee that they will open it but you’re definitely way ahead than depending on the organic reach of social media.
3. Emails convert better
I already mentioned that email marketing has a return on investment of 4400%. That’s huge! According to research by McKinsey, email converts three times more than social media. And since getting leads and sales is critical for any business, especially small businesses, you want to put your money where it will yield more value.
4. You own your media
Perhaps, this is one of the most important reasons why you should take seriously email marketing for your business this year. It’s great to have tens of thousands of followers on Instagram, Facebook, Twitter and the rest, but understand that you’re essentially building on another man’s land. You don’t own or control any of those platforms. These guys can change the rule of the game anytime, and they have done that many times to the disadvantage of many businesses and brands using the platform.
Unlike social media, however, you own your email list. And for as long as your subscribers are still on your list, you can keep reaching them with information about your brands and offers specially designed for them.
Where do you start with email marketing for your small business?
If you are ready to skyrocket your small business by taking advantage of email marketing, do the following ASAP.
Create an account with an email marketing platform like Mailchimp, Sendlane, Aweber, GetResponse, etc.
There’s a ton of them out there. Most small businesses usually start with Mailchimp because it allows you to have your first 2000 subscribers for free.
Grow your email list by setting up your sales funnel.
Every growing business, particularly those serious about email marketing has some form of sales funnel in place. You should too.
You can read more about how to grow your email list by using a sales funnel in this short report. You will be done digesting it in 10mins but the insight therein has the capacity to reposition your business. Download here now.
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