Email marketing is a powerful tool that can be used to increase sales and conversions for your business. But, does email marketing work? It’s important to remember, the success of your email marketing campaigns depends largely on the quality of your content. As Ramit Sethi says, “The only way to write great email copy is to write like you’re writing for one person.” So, before you launch any email marketing campaigns, make sure you spend time crafting terrific content that will resonate with your subscribers. It follows then, the size of your email list is not as powerful as the content you deliver!
Is Email Marketing’s ROI Better than Social Media’s?
Email marketing outperforms other marketing campaigns by a considerable margin. In fact, several sources online report that email marketing has a return on investment (ROI) of 4,300%, which is significantly higher than other forms of digital marketing. Additionally, email marketing is reported to have a click-through rate (CTR) of 3.09%, which is much higher than the CTRs of social media (0.12%) and search engines (0.02%). So, if you’re looking to increase your sales and conversions, email marketing should be your go-to strategy! In my opinion, these stats alone, kind of make the question “Does email marketing work” kind of moot.
Email Marketing Has Some Attractive Benefits
Email marketing has some pretty compelling benefits that contribute to its 4,300% ROI, that all seem to be a result of the enhanced personal connection of email campaigns. There are a few reasons why people prefer email marketing over other forms of digital marketing:
- Email marketing does not rely on an individual’s internet connection.
- Allows for more personalization through content and timing of email.
- Helps to build a relationship with your subscribers over time, leading to customer loyalty.
- Email is a more private form of communication than social media, which can be beneficial for building trust.
Email Marketing is Easier to Track for Results
One reason email marketing analytics are easier to get and track is that email service providers (ESPs) offer email marketing tools that can help you measure the success of your campaigns. Plus, email marketing analytics are also trackable through Google Analytics, which is a free tool that most businesses use to measure website traffic. This makes it easy to track the success of your email marketing campaigns and compare them to your other digital marketing campaigns.
The average stats of all email, taking into account all industries show the following:
It’s much easier to get a handle on the effectiveness of an email marketing campaign, as the analytics are often easier to interpret (and leave less ambiguity to hash though). Given the above, it’s easier again, to address the question “does email marketing work”.
Why Does Email Marketing Work – Think Mobile!
It’s no secret the #1 method of content access, indeed of most communication, is through mobile. For those of us who lived in a pre-mobile world: Mobile has been “the standard” for some years now. How better to get your message directly in front of your audience, then to send an email directly to them, personally… That they will receive on their mobile.
On this thought, there are three salient reasons why email marketing works so well:
- We do not have to pay anything for emails, but in some cases may incur a cost while texting.
- Email is compatible with all mobile devices, not just phones.
- Emails provide a lot more room for personalized information than text messages, allowing you to create more effective marketing messages.
This ability to get your personalized message in front of your audience, should, analytics aside, provide a clear, signal to answer the question “why does email marketing work”.
Email Marketing Works Better as it’s More Cost Effective
Businesses may use email marketing to reach a large number of people at a low cost per message. This makes it a superior option than traditional marketing channels for small-business owners on a tight budget.
When you’re looking at the value of your investment (in email marketing), it’s not hard to “guess” which works better. Here’s what this means:
Investing in a traditional marketing campaign has a high cost, and communicates your message to everyone – Whether they are interested in what you have to say or not.
On the other hand…
Investing in email marketing has a lower cost, and communicates your message to specific people – Who are interested in what you have to say!
It’s not hard then to surmise which works best (and you don’t even need to research statistics).
So… Does email marketing work? Yes, yes it does – Very well. To get started, below are the two most common FAQ questions we often get asked…
How Do I Build an Email List?
Understandably, not every initiative comes nicely packaged with and email list. But, it’s not that hard to build (and grow) your mailing list:
Research people in your target market and offer a free download, ebook or coupon to them.
Ask friends, colleagues, etc. if they are interested in offers that you would like to send them. (If they say yes, get their permission.)
If you have the funds investing into social media or search engine ads is an option for getting more people to subscribe.
Hosts contests online and include your subscription form on pages that are part of the contest.
Ensure existing email you send to subscribers is shareable, and include a compelling CTA (Call to Action) for readers to share your email with others.
…naturally this list could get rather lengthy, use your imagination, and don’t be afraid to experiment.
What are the Best Times to Send Emails?
The best times to send emails depend on your audience and their location. If you’re targeting a global audience, then you’ll need to take into account different time zones. However, in general, the best times to send emails in North America (in order of importance) are:
And, the best times are:
1. 06:00 HRS EST
2. 10:00 HRS EST
3. 20:00 to 00:00 HRS EST
Take into consideration the above is a loose group of times; to reiterate… Your target audience will essentially dictate the best times to send emails in your campaign.
Conclusion… The Bottom Line on “Does Email Marketing Work”
Email marketing is a powerful tool that can be used to increase sales and conversions for your business. A clear answer to the question “does email marketing work” is a clear “yes”. The size of your email list isn’t as important as the quality of your content! Additionally, email marketing outperforms other forms of digital marketing by a considerable margin and has some pretty compelling benefits for businesses. So, if you’re looking to increase your sales and conversions, email marketing should be your go-to strategy!
You can learn much more about email marketing by visiting our Small Business Email Marketing posts.