Email is one of the most powerful marketing tools available today. For each $1 spent on email marketing, you can get $42 in return. That's an impressive 4200% ROI.
For comparison, paid search marketing can provide a 200% ROI, while social media marketing is even farther behind.
The pillar of a solid email marketing campaign is a well-rounded email list. Without it, all other efforts disappear in vain. As soon as you understand the importance of that list and invest time in it, your marketing campaign gets a powerful push forward.
Building an Email List
If you've been around marketing for some time, you've heard the phrase "the money is in the list." It refers to the power of the contact information you gather from prospects to make further marketing moves.
Email addresses are a high-value exchange currency on the web. Marketers of all levels work hard to build up the email list using various methods, including:
- Offering free content in exchange for an email address (articles, e-books, tutorials).
- Offering valuable benefits (coupons, early access to new products, chance to win a prize).
- Using paid search ads to direct leads to the website (and then to the contact form).
- Promoting newsletter signup through the website.
- Using pop-ups to promote special offers.
- Hosting contests (on social media, websites, and forums) with valuable prizes.
- Using chatbots to obtain information.
- Requiring an email to make a purchase.
- Using Facebook Ads to collect addresses.
- Simply asking for an email address during a live interaction (phone conversation, live events).
Why the Money is in the List
Email is one of the most efficient ways to reach the target audience, turn prospects into leads, and retain current customers. Even though numerous other marketing channels exist, email remains trustworthy and powerful. Here is why.
Once you've obtained an email address, you have full control over what you can do with it, as opposed to social media followings that can disappear in a flash.
Social media platforms like Instagram are famous for banning accounts without any apparent reason or due to an unexpected new regulation. The lengthy restoration process can cost you followers and result in downtime for your campaign.
An email list stays intact for as long as you need it. However, you have to keep it clean to make sure all addresses remain valid.
2. Optimal Reach
With over 4 billion people using email worldwide, you can reach the majority of your target audience through this channel.
Unlike paid search ads, email marketing gives you the freedom to choose who sees your emails and when. You don't have to depend on an algorithm to show your content to potential customers.
Only about 2% of website visitors convert during their first visit to your website. They may come in search of information, get it, and move on. You may be pushing the prospect through the sales funnel only to have them buy somewhere else.
Email remarketing aims at bringing these customers back. By sending follow-up emails designed with the particular prospect’s needs in mind, you bring potential buyers back to your website. It's possible to take the prospect down the entire sales funnel with a smart sequence of emails.
You can also use email remarketing in tandem with paid search ads by attaching an inconspicuous piece of code to your email message or signature.
After the customer opens the message, they start seeing your ads on pages they visit on the web. You can personalize these ads to target the customer based on the information you already have.
Emails get more attention from people than social media messages or paid search ads. More than half of Americans check their email in the morning while 17% do it before getting out of bed. People put more trust in emails than they do in any other channel.
Recipients on your email list give you their addresses voluntarily and expect an email from you. It makes this part of your target audience highly receptive to your messages and ready to convert.
You can use email to establish trust with your recipients before trying to sell products or services. It's also an excellent channel for building relationships with existing customers and streamlining retention.
Email Marketing Works
More than 55% of people say that marketing emails influence their purchase decisions. To build a powerful email marketing campaign, you need to create a solid email list.
Collecting email addresses requires an efficient strategy and a personalized approach to your target audience. A clean email list will power up your marketing campaign.