Why Email Marketing Remains a Great Strategy for Companies
It’s a myth that people hate being marketed to via email. In fact, a survey by HubSpot found that people do read most of their emails and don’t even mind getting frequent mail as long as it is relevant, interesting, and speaks to their specific needs.
And here’s another clue: email is not getting out of style any time soon because it remains the biggest social network on earth. Email continues to outlast other forms of communication and excels as a marketing tool because practically everyone has an email address.
Think about it. You require an email address to gain access to your favorite social network sites, and you sure use it to enroll on all manner of online services and subscription lists.
If you are itching to drive new sales while at the same time strengthening your relationships with your current customers, you better believe that your competitors are, too. You do, however, have an ace up your sleeve that you could exploit: email marketing.
As the war for attention intensifies, SMEs, B2B tech and software companies who are struggling to reach their target audiences on the right channels need to deploy the one tool that more than 59 percent of marketers, according to HubSpot, are finding to be the source of their biggest return on investment.
Here’s why you want to leverage email marketing:
Widespread Email Usage
Statista reports that there were 3.9 billion global email users in 2019, with growth projections revealing that the number will hit 4.3 billion in 2023. Today’s businesses, and especially those in the technology sector, have a large number of customers who are using email. No surprise here that people check their email 20 times a day, whether at home, work, or on the move, as reported by the Direct Marketing Association (DMA).
With 293.6 billion emails sent and received each day in 2019, email marketing remains a strong avenue that continues to grow. No wonder email has been deemed ideal for B2B communications, what with business intelligence and data management e-resource SmartDataCollective finding that 95 per cent of professionals use the platform.
Customer Acquisition and Retention
Email remains a chief channel for tech companies to drive new sales while strengthening relationships with existing clients. A study by omnichannel customer engagement platform Emarsys shows that 81 percent of small and medium businesses rely on email as the main channel to acquire clients, while 80 percent do so for retention purposes.
While other social media are still relevant, email marketing leads in direct impact and reach. It is, therefore, a great tool for growing and nurturing relationships whether your business has one or multiple sales channels. See if you can’t add value to new or current customer relationships by sending out useful tips and tricks every once in a while.
Strong Return on Investment
With email marketing, companies – tech or otherwise, can upsell and cross-sell new products to their entire prospect and customer base. What, pray tell, might the incentive for doing so be, you might wonder. For starters, OptinMonster found that a good 66 percent of clients have reported that they bought something after reading an email from a brand.
Second, every $1 spent on email marketing, according to a 2019 report by DMA, can be expected to return an average of $42. So, if you are nowhere close to netting such impressive ROI, it is high time you applied a well-thought-out email marketing strategy that helps you reap real benefits.
High Open Rate
By now you are probably giddy with excitement, thinking of all the ways you could deploy email marketing to work for you. And open rates, which show how many people are opening your emails, will enable you to see just the kind of wonders your email marketing campaign is working.
Welcome emails, for instance, have an average open rate of 82 percent, according to email marketing platform GetResponse. Tech and B2B companies could, therefore, leverage their welcome emails to slip in useful information about their onboarding process or the way they do business to foster trust and authority as they build their email campaigns for their growing audiences.
Great for Customer Feedback
Emails are a great way to collect customer feedback so you can refine user experience. You can do this by sending out surveys to your clients so that you can better understand how you can improve.
Also important is the fact that emails make it possible to share your latest company and product news in regular e-newsletters. With Statista reporting that 49 percent of consumers would like to receive brand emails containing promotional material on a weekly basis, you should clearly be worrying about how you present information to them, not whether you should be doing it!