Social Media is sexy and Email Marketing is spammy. True or false? There was a time when people dismissed the power of email marketing as spammy or uncool, especially considering the ongoing media frenzy around Facebook, Twitter, LinkedIn, Pinterest and numerous other social media properties.
However, over time savvy marketers have realized (or never forgot) the power of email marketing compared to social media and which medium provides the best “Bang for the Buck” in actually acquiring customers and driving purchases.
While social media has commanded a huge share of press, Internet and word of mouth coverage, email marketing has quietly continued to deliver better ROI and conversion rates. At Web Presence Solutions we have long understood the marketing power of email.
Three insightful articles that explore Email Marketing ROI in more detail:
Pam Dwyer had an excellent post on this topic, “Email Still Trumps Social Media for Online Marketing” – “The customer acquisition landscape is constantly in flux. The introduction of disruptive technologies and tools over the last few years has spawned enormous changes in online marketing. But a recent report reveals that online retailers are winning new customers via traditional email marketing at quadruple the rate they did four years ago.” (Read more here)
Forbes published an excellent article based on a survey done by McKinsey & Company, “Email Marketing: Think Inside The New Inbox” – “Email continues to account for a far greater share of acquired customers than social media – nearly 40x that of Facebook and Twitter combined. Email remains a critical part of the marketer’s toolkit, with 91% of all consumers still reporting daily email use. Email conversion rates to purchase are estimated to be at least 3x as high as social media conversion rates.” (Read more here)
Email continues to account for a far greater share of acquired customers than social media – nearly 40x that of Facebook and Twitter combined.”
Technorati had some additional insights on the same survey, “Social Media Study: E-Mail 40 times more Effective than Facebook and Twitter” – “So, after all the excitement about Facebook and Twitter as communities and marketing panaceas, a recent study by McKinsey & Company reports something counter-intuitive: good, “old fashioned” e-mails prove to be 40 times more effective than Facebook and Twitter combined. That is, if your goal is to acquire customers, and not just share the latest family news or travel experience.”
An important factor that continues to drive email marketing’s effectiveness and ROI has been significant advances in the quality of relatively low cost tools for creating, managing and analyzing email marketing campaigns. Companies such as MailChimp, iContact, Constant Contact, AWeber, and others provide a wide range of capabilities for delivering business marketing messaging to customers, prospects and partners.
Reporting and analytics are areas that have grown in power and value from many email service providers. The ability to analyze and understand what is working best for a business’s email campaigns and how to improve and optimize mailings adds significant value to email marketing and provides the capability to avoid the shotgun approach of the dreaded “email blasts.”
Email Marketing Overview – The Short Version
Importance – Provides a direct, ongoing connection with customers, prospects and partners; delivers strong ROI when done correctly; increasingly powerful, user-friendly, and cost-effective tools and service providers are available.
- Challenges – Requires planning, strategy and resources to be effective; must utilize and understand metrics and analysis to gain greatest ROI; creating effective content and landing pages delivers best conversion rates.
- Actions – Develop a clear, focused strategy; create quality content and messaging to share; create landing pages for specific email campaigns; utilize email metrics and understand what is working well and not so well, regularly adjust strategy and tactics based on testing, metrics and measurements.
Resources and More Information:
There is a large amount of great information available for creating, optimizing and measuring success of email campaigns and strategies. Below are three articles that provide worthwhile and actionable insights.
“5 Ways to Grow Your Email List with Social Media” – “Do you want more email subscribers? Are you looking for ways to move social media fans and followers to your email list? In this article, I’ll show you 5 ways to use social media to build your email list. Why Email? At least 91% of consumers check their email every day.” (Read more here)
“5 Benefits of Email Marketing for Small Businesses” – “These days, with social media all the rage, it’s easy to overlook email marketing for your small business. After all, who uses email anymore? Turns out a lot of people do, so when developing your digital marketing strategy, you’d be wise to consider adding email to the mix. Here are 5 ways that small businesses can benefit from email marketing.” (Read more here)
“6 Essential Benefits of Email Marketing” – “Email marketing often gets forgotten and lost behind all the talk of social media, SEO and reputation management. But email marketing for businesses is more important than ever.” (Read more here)
Email Marketing Optimization
Is your business using email marketing most effectively? If not, there are plenty of opportunities for growing and optimizing your small business email marketing efforts. Tactics such as list segmentation, resending to contacts that have not already opened an email, optimizing email for mobile devices, reviewing and understanding metrics, and encouraging new email sign ups on your website and social media properties can all be effective for enhancing your email campaigns and growing your email marketing ROI and your business.
Don’t currently have an email marketing strategy in place for your small business? Only doing email marketing occasionally or as an afterthought? There’s no better time than today to get started in using this essential marketing tool. Contact us at Web Presence Solutions to learn how we can help your business.
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