Is Email Marketing Still Profitable?

Email Marketing

In the vibrant landscape of digital marketing, where new platforms and trends emerge at an incredible pace, email has been the bedrock of communication since the dawn of the internet age. But with social media, SEO, and content strategies taking center stage, business owners and marketing managers might wonder – is email marketing still a profitable avenue in today’s market?

The short answer is a resounding YES!

Email Marketing Works – Here’s Why

Today, there are billions of email users around the globe, checking their inboxes daily. This alone provides a vast audience for your marketing campaigns. However, the power of email extends far beyond these numbers.

If you don’t have the time to dedicate or delegate to an employee the task of email marketing, then hire a local marketing agency to help manage your email campaigns.  Don’t underestimate the value your company will gain.

Customer List Building

Email allows you to cultivate your own list of interested prospects and customers like no other channel does. You own this list, free from algorithmic changes or platform rules that often affect social media channels.

You can tailor your messages, timing, and content directly to the audience who wishes to hear from you the most, rather than hoping your message crosses their path.

Shareable Links to Social Media

Integrating shareable content through email campaigns that includes links to your social platforms can turbocharge your engagement across the board.

Emails provide the opportunity to not only engage with your audience but also encourage them to share your content, offers, or news on their own social networks, increasing your reach organically.

Surveys and Review Requests

Understanding your customers is the key to successful local marketing, and email provides a direct line for feedback. Sending out surveys or requests for reviews through email is a cost-effective method to gain valuable insights and can lead to improvements that drive profitability.

Contests and Discounts

Contests and discounts have a home in email marketing strategies due to their ability to drive urgent action and engagement. This tactic can lure new customers, re-engage inactive ones, and reward loyal subscribers, all while promoting your products and services in a fun and exciting way.

Referral Programs to Gain New Customers

Referral programs help you tap into the power of word-of-mouth – an invaluable marketing channel. Email makes it simple to introduce and manage referral incentives, enticing your existing customers to bring new ones into the fold.

The Power of Staying in Touch

Regular communication through emails keeps your brand top of mind. Whether it’s a monthly newsletter, weekly tips, or daily updates, staying in touch with your audience keeps the door open for them to step through when they’re ready to purchase.

Providing Valuable, Engaging Information

Email is the perfect platform for giving valuable insights to your customers. This not only positions your brand as an authority but also fosters a sense of community and trust. Email’s format allows for rich content, from in-depth articles to immersive videos, that other channels might not handle as well.

The Numbers Tell the Tale: Open Rates, ROI, and More

Looking at the metrics, email marketing boasts some of the best open rates and return on investment ROI across any marketing channels. It remains one of the most cost-effective ways to reach your audience, with a median ROI of 122% according to the Direct Marketing Association. That’s four times higher than other marketing formats examined, including social media, direct mail, and paid search.

And while we’re talking numbers, did you know that the total number of global email users is set to grow to 4.48 billion by 2024? That’s a lot of potential customers who can be reached through a well-crafted email address list.

Email Marketing as a Workhorse

Think of email marketing as the workhorse of your marketing stable. It consistently delivers value and engagement for relatively little investment. Crafting an email campaign, while involving careful thought and strategy, costs less than many other forms of advertising.

Moreover, email marketing’s analytics allow for precise measurement and adjustability. You can track who opens your emails, which links they click, and what actions they take subsequent to reading your email. This kind of insight is invaluable for refining your overall marketing strategies and directly improving your bottom line.

Integrative and Adaptive

Far from being a standalone channel, email marketing can complement and augment your other marketing efforts. A blog post can be summarized and linked in an email; social media updates can be compiled into a weekly digest; a product launch can be exclusively announced to your subscribers before it hits the wider market.

The Human Touch

In an era of automation, personalization stands out. The human touch in email marketing – addressing your readers by name, segmenting your list to tailor messages to specific groups, writing in a conversational tone – can humanize your brand and forge stronger connections with your audience.

Conclusion

For business owners and marketing managers working within local businesses or massive enterprises alike, email marketing remains a mainstay, a valuable tool in your arsenal to steer customers to your products and services.

With engaging content, clever uses like surveys, contests, discounts, and referral programs, and the personal touch it lends to digital communication, email marketing is not just surviving; it’s thriving.

Remember, success doesn’t happen overnight. Like any good thing, building a profitable email marketing strategy takes time, adaptation, and a keen eye on the changing digital landscape. Keep gauging your open rates, stay consistent with your email campaigns, and above all, keep offering true value to your audience.

The ROI is there, and email marketing’s legacy as a digital workhorse means it’s likely to remain profitable for years to come.

 

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