Email marketing is possibly the only form of advertising that has a reliable return on investment (ROI). According to the Direct Marketing Association, email marketing generated approximately $41 for every dollar spent in 2012. These figures outperform all other direct marketing channels such as print catalogs, TV commercials, and magazine ads. Is there another marketing medium that allows businesses to reach a tremendous amount of potential customers for such a small cost?
Email is one of the oldest forms of digital social media and utilizing email is an effective way to stay in touch with your customers, transact with them, resolve any issues and develop new customers. Creating an effective email marketing campaign allows businesses to track impressions, responses, and conversations and forwards that their emails produce, this allows businesses to determine exactly how many sales can be attributed to each campaign and helps prove that the value of the Internet is that everything can be measured.
Current email marketing services and solutions support database integration, segmentation and dayparting. Additionally, other techniques for improving the targeting and response rate or your email messages are available. Email promotions and offers have the capability of generating immediate action whether they be sales, downloads, inquiries, registrations, etc. Informative email newsletters send people to offline stores and events, help prepare the way for catalogs, build brand awareness, as well as strengthening current customer relationships, encouraging trust and cementing loyalty.
Increased Sales Conversions
Not all visitors to your website will actually buy your goods or services on their first visit, no matter how good or interesting your product. Research indicates that it takes shopper an average of nine visits before making a buying decision. In short, all effective sales processes will require some element of repetition.
Up-sell/Cross-sell Products and Services
When correctly done, email marketing provides a great opportunity for businesses to up-sell or cross-sell their products and services. Email marketing software allows businesses to easily create a series of email messages (auto-responders) that automatically follow up with offers that customers may find interesting.
Receive valuable feedback from visitors
Customer feedback is an important tool for any business that allows you to get an idea on:
Who/What is your target market?
The amount of money your target market is willing to spend.
Other products and services we can offer you.
Encourage web users to make offline purchases – Email marketing often encourages web users to make offline purchases. According to one survey, 59% of email users said that they made offline purchases after they’ve received an email promotion.
Generate Repeat Sales
Every business is aware of the fact that acquiring new customers is much harder and expensive than retaining established customers. New sales are important in the overall business plan, but repeat sales are also important. Keeping open communication lines with your established customers on a regular basis through email has been shown to generate up to four times more profit. An excellent email marketing tactic is sending email newsletters, which has shown to increase repeat purchase frequency from your existing customers.
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