In the modern world that we live in where high technology and the internet is part of everybody’s daily routines, it is important to keep up with the latest trends in order for your business to keep up with, and rise above, the competition.
This is why online marketing has become a popular trend nowadays amongst businesses. And one type of online marketing that is often used is email marketing. Email marketing is a form of direct marketing, which as the name implies, uses electronic mail as means of communicating commercial messages to the target audience.
Although some people think that spam already killed email as a marketing vehicle, it still actually works. As a matter of fact, according to studies done by the Direct Marketing Association, in 2009 alone, email marketing generated an estimated $43 of ROI for every dollar spent. The expected figure for 2010 is $42.
If that’s not enough reason for you to try email marketing for your company, below are some of the other benefits it offers:
o Increased Sales Conversions. No matter how good or interesting your product is, the truth is not all visitors of your site will actually buy your goods in their first visit. In fact, research indicates that it takes shopper on an average nine visits before they make a buying decision. In short, all effective sales process requires some element of repetition.
o Up-sell and Cross-sell Products and Services. McDonalds makes billions of dollars every year from their basic up-sell strategy- “Would you like fries with that?”
When appropriately done, email provides a great opportunity for you to up-sell and cross-sell your products and services. For instance, if you run a website that sells gadgets, someone who purchases a camera may also be interested to buy casing or memory card to enhance their camera.
Email marketing software allows you to easily create a series of email messages (auto-responders) that automatically follow up with offers on all the gadget accessories that you sell that the customer may find interesting.
o Receive valuable feedback from visitors. Customer feedback is an important tool for any business that allows you to get an idea on:
-Who your target market is
-The amount of money your target market is willing to spend
-Other products and services you can offer
o Encourage web users to make offline purchases. This may come as a big surprise, but email marketing is often a catalyst for web users to go and make offline purchase. According to one survey, 59% of email users said that they made offline purchase after they’ve received an email promotion.
o Generate Repeat Sales. It is a known fact in the business world that acquiring new customers is way harder, not to mention more expensive than keeping old ones. And while new sales are great, the value of repeat sales is also important.
Maintaining open communication lines with your customers on a regular basis through email allows you to generate up to four times more profit. And excellent email marketing such as sending email newsletter will increase repeat purchase frequency from your existing customers.
Keep in mind though that email marketing is a vey tricky type of marketing strategy that if not done properly, can work against you. When new to this kind of marketing, it is advisable to seek the services of experts on this field to help you launch your email marketing campaign right from the email design up to the content of your email newsletter.