60% of marketers say that email marketing is producing an ROI for their organization – (Source: MarketingSherpa)
Tuesday marked exactly one year since I stepped into the software and marketing industry, a journey that has seen me experience new feelings, new surroundings and a more mature developed mindset. I have not looked back since. One of the main topics I have learned during my time in the industry has been Email Marketing. Often when we hear words like software and technology, we don’t want to hear any more because it just sounds complicated, as was my thoughts at the time.
As part of my one year milestone in the industry, I would like to break down Email Marketing mainly for those looking to start a product based business whether it’s clothing, catering or video production. Email Marketing is a brand enhancing platform, that allows you to send bulk emails (or standard) to mass emailing lists up to millions. It is also a method used for:
- Customer Loyalty
- Acquiring/Converting Customers
- Company Advertisements
- Promotional Offers
Standing outside the industry I didn’t realise how many companies are ESP’s (Email Service Providers) but being inside, I understood how huge the industry is and how extremely profitable it is for even the medium sized providers yet alone the top providers such as ConstantContact and MailChimp. Constant Contact of which have a market capital of $885,310,951 by signing up clients and gaining subscribers on record each day, week, month and year. This is the power of Email Marketing.
What Can It Do For You?
As I mentioned earlier, if you are a young person on a business venture or already an established business owner, if you aren’t already using an Email Marketing platform, I would strongly recommend you sign up to one especially with it being such a reliable tool in exposure and gains of new clientèle (fact at the top of the blog). It is quite simple most companies will handle campaign management and provide strategies for you, if the case is that you don’t understand it or just don’t have the time on your hands.
If you hold Email addresses of up to 300+ of your customers it would be a wise decision to begin Email Marketing. Send campaigns of new products, offers and news just to keep your current crop of customers engaged and potentially with the correct designs and content, attract new ones.
When asked which medium consumers would like to receive updates from, 90% preferred an email newsletter, while only 10% chose Facebook – (Source: Nielsen Norman Group)
This statistic shows you are giving your customers what they prefer, although the complete marketing package is synchronising your Email Marketing activities, with your social media duties, Email Marketing alone can certainly raise awareness and enhance your work/products to a wider audience.
Email Marketing isn’t an expensive software to use, it is definitely well worth the return on the monthly payments being paid out of your business expenses. Many companies usually start with a rough cost of:
- 500 contacts (opted in / purchased data) – £9.00 per month for multiple sends.
- 1000 contacts – £15.00 per month
- 25,000 contacts – £100.00 per month
- 1,000,000 contacts – £1,440.00 per month
- 3,000,000 contacts – £4,500.00 per month
Bare in mind most companies with one million+ contacts will be mainstream industry giants in retail and production such as Argos, Ebay, Mercedes etc. So don’t let that scare you. The costs to promote your products to your potential clients and existing business is definitely a return worthy investment that is also very enjoyable, take it from me. It’s a powerful tool that has helped many big guns get to where they are now.
For every $1 spent on email marketing, the average return is $44.25.(Source: emailexpert)