What Marketing tools are you using to grow your business? If you’re not using email, you’re missing out on a lot. Contrary to popular belief, Email Marketing is NOT dead. Many companies choose to forego email for newer platforms like Social Media, Influencer Marketing, and SEO. While these solutions are all equally good at getting your point across, nothing beats email when it comes to cost and value.
The Importance of Email Marketing in Business
Email Marketing is still one of the most practical ways to engage and reach your target audience. Almost everyone who spends time online has an email address. It has become such a ubiquitous part of daily life you can’t sign up for anything online without one. Still on the fence about the power of email?
Take a look at the numbers:
- Email users worldwide in 2019: 3.9 billion, projected to increase by 3 billion in 2022.
- Email users in the United States: 250 million, projected to increase by 100 million in 2023.
- The number of adults in the US who use email: 92%.
- The number of email accounts per user in 2018: 1.75.
- The total number of sent emails per day worldwide: 293 billion.
- Active email accounts worldwide: 5.59 billion.
These figures are in the billions, and it would be foolish to underestimate the reach and impact of Email Marketing. For success in the digital battlefield, you have to use every tool at your disposal. Email Marketing is one of the best tools for the job.
Email Marketing Affects Company Growth Factors
There are many factors to company growth. On the one hand, you have customer demand, profit margins, and revenue. On the other, you have sales, the workforce, and market share. All these factors tie directly to growth, and Email Marketing plays a significant role in each.
Let’s take a quick look at the law of “supply and demand,” for instance. Your company’s growth is dependent on how much demand there is for your product or service. You need to do whatever it takes to create a market for what you’re offering. One way to increase demand is via strategic partnerships with other businesses.
Here’s where targeted B2B Email Marketing comes into play. Now, B2B Marketing is vastly different from B2C. Business emails focus more on eliciting a logical buying decision rather than an emotional one for regular consumers (B2C). Getting the correct information on a business is critical to a successful campaign. Services that provide reverse email lookup can help you create an accurate B2B email list.
Reasons Why You Need to Start Using Email Marketing
– Low Cost, High Return: Email Marketing is one of the most cost-effective methods available today, with an ROI of about $38 for every $1 spent.
– Social Media Is Good, but Email Is Better: Social media platforms such as Facebook and Instagram are essential tools for targeting a broad audience. However, a more direct way to reach and engage people is still email marketing. People are 2x more likely to sign up for your email list as opposed to interacting with you on social media.
– Businesses Prefer Email: Decision-makers rely on emails to learn more about another business, product, or service before buying.
– Consumers Actually Want to Hear from You: Despite the prevalence of spam, 61% of consumers still enjoy getting weekly promotional emails.
– Higher Transaction Rates: Personalized emails get six times the number of transaction rates than other types.
– You Can Reach Your Audience Anywhere: Because of the widespread use of smartphones, you can engage your customers wherever they are. 88% of smartphone users use their phones to check email.
– Success and Growth Are Measurable: Email Marketing has key performance indicators (KPIs) that you can measure to chart your progress. Some common KPIs for Email Marketing include monthly signups, lead generation, and sales.
Email Marketing Is Here to Stay
As Digital Marketing continues to evolve, there will always be new solutions to old problems. There’s a saying that goes, “there’s no school like the old-school.” In the case of growing a company, email is an old-school, tried, and tested strategy. Now that you know how critical email marketing is and how it can help your business grow, it’s time to start your action plan.