How Using Email Marketing Can Boost Revenue
Email marketing is one of the most personal mediums used by organizations to reach their audience. It is also harder to understand what types of emails one should deliver since it is sent directly to subscribers. When used correctly this channel can reach the most customers, past, potential and current, creating trust and building upon your brand at their convenience. Placing an appropriate amount of time and energy into one’s email marketing campaign, just like any other channel, will yield the most return on investment, if not more because of the individualized approach.
As of 2017, there are 58% of millennials reporting email is their preferred method of contact by an organization. Whether the content is informative, promotional or simply for retention, email marketing is one of the best methods for building a great base and expanding upon that base. A business should convey what they need to communicate and leave the rest to the consumer. Below are four approaches you will want to consider integrating into your email marketing strategy.
Lead Nurturing
This type of email is automatically sent out on a schedule which one has set up according to leads. Lead nurturing targets and sends out a closely related series of emails with information unique to the audience. This provides a higher return than mass emails. Marketo states, Companies that excel at lead nurturing generate 50% more sales ready leads at a 33% lower cost. Businesses that gather quality information from their leads and develop a relationship between their brand and the consumers create an explosive duo.
Sponsorship Emails
Sponsorship requires a business pay for a copy shown in a sponsors email and is one of the best ways to gain new leads. The text needs to blend well with the vendors content, and organizations need to make sure the vendor is a good fit for their brand. According to the Direct Marketing Association’s 2012 Direct Response Rate Report, $28.50 in sales was generated for every dollar spent on email marketing. Gaining new leads and nurturing those relationships is essential for growth of one’s email marketing campaign.
Digests and Newsletters
Content is still the leading tool in marketing. If you haven’t heard that content is king, you have now. Newsletters convey many aspects of your brand to the consumer, as well as building upon the brand so the customer will think of you when it comes to decision time. Digests are exactly what the name conveys, easy to digest. Shorter than newsletters, digests are lists and links of articles one has previously published. Placing familiar names in the headings and from lines, creating easy to consume blocks of text, personalized content, and placing visually pleasing images in the email garner the best results. Providing consumers with a benefit or answer in the title or heading to keep their attention proves one’s email campaign is sure to see profitability in their efforts.
Transactional Emails
Automated emails sent to a subscriber or customer after an action happens, refers to a transactional email. For example, after a form is filled out or product is purchased, the customer is automatically sent a follow-up email to continue or complete the process. One brand that has capitalized on the value of transactional emails is Charity Water. Campaign Monitor states that transactional emails have 8 times more opens and clicks than any other type of email and can generate 6 times more revenue. Consumers expect these kinds of emails more than any other following a purchase or filling out forms.
Email marketing approaches are cost-effective and powerful which will aid in gaining trust and earning customer retention. Increasing your businesses email database and providing valuable content in these email approaches can improve open and click-through rates, thus enabling many companies to see a boost in revenue. Marketing strategies are best executed when a multi-scheme approach is present, therefore dive in and try one of these approaches to see how your consumers reciprocate. If you’re searching for further knowledge on how to integrate one of these strategies contact the professionals here at Seredan.