Compared to other mainstream marketing channels, email has few associated costs. Before the rise of the internet, its closest equivalent was postal advertisement, but that was highly time-consuming and incurred the cost of printing, stamps and envelopes. Unlike magazine or television advertisements, no fees must be paid for the privilege of exposure. The collective bandwidth cost of sending thousands upon thousands of emails may add up over time but these fees are still insignificant when compared to the prices of other advertisement services. For a truly effective email campaign, businesses should hire a professional copywriter to craft the all-important emails.
EASE OF PRODUCTION
Consider the costs and logistics of creating a television commercial: hired teams of professionals and expensive equipment. On the other hand, a good email marketing campaign can be created by a single skilled individual. Of course, that person will require the support of other professionals but email marketing doesn't need large teams to be successful--it's all about the quality of the actual emails. Although many companies enhance their emails with dazzling (some might say distracting) videos and pictures, many of the most successful campaigns use good old-fashioned plain text emails. Whereas a successful magazine advert may be style over substance, a winning email simply depends on exceptional content.
TARGETING THE RIGHT BUYERS
Unlike cold calling techniques in telemarketing, emails are one of the few marketing channels that consumers voluntarily receive. When people watch commercials on TV or streaming services, they are often seen as a nuisance--something to be tolerated until the real content begins. With emails, on the other hand, consumers are already interested. Most businesses only send emails to people who have signed up to receive them. Therefore, unless someone has a poorly-managed inbox, most of the marketing emails they receive will be relevant to their interests. This tends to result in higher conversion rates as businesses only target interested individuals. Meanwhile, unsolicited emails often work against a company. Most people despise junkmail and associating a business with it can damage that brand.
SPREADING THE MESSAGE
Whenever a consumer opens up an email, they also have their friends' and family's details at their fingertips. If a marketing email is especially enticing, all it takes is a few clicks for that email to spread, and once it had spread once, it's unlikely to stop. Forwarded emails received from trustworthy friends are much more likely to be read and taken seriously than those sent directly from a business. According to GetResponse, emails with social sharing buttons have a 158% high click-through rate. Compare the ease of sharing an email to more traditional forms of advertising; there's no easy way to share a radio commercial.
Email marketing is extremely efficient at targeting the right consumers. By sending tailored emails to subscribers who meet certain criteria, a business can ensure that it's accurately reaching those (and only those) who are interested in particular services. Other forms of marketing tend to be more scattershot, aiming to appeal to as many people as possible, but often only appealing to a few. By writing bespoke emails to particular consumer groups, a business not only improves its chances of sales but also reduces its chances of infuriating other customers with different interests. If a business has special deals in certain parts of a country, it's simple for them to only email customers who live in those areas. Finally, if consumers are only interested in specific or niche products, such as horror movies, it's easy to arrange for only them to be contacted when a new scary title is released.
REACHING THE WHOLE WORLD
With most forms of advertising, the fees increase depending on how many customers can be reached. Local adverts are the cheapest, countrywide the most expensive. Email, however, can reach all across the globe. As long as a business has a broad subscriber base, customers across the world can be contacted in an instant with the click of a button.
CALLS TO ACTION
Most people are susceptible to the thrill of impulse buying and email marketing is the ideal platform for encouraging this. There's something so exciting about spontaneous purchases. With emails, a customer can go from reading about a new deal or product to purchasing it within a few clicks. All a business needs to do is target the right buyers and have a quick and easy sales process. Combined with an irresistible call to action, sales can go through the roof.
With broadcast or print campaigns, most businesses have to wait weeks until they see a sales increase. With email marketing, however, they can see results within minutes of an effective email being sent. A time limited offer (such as flash deals or a 24-hour sale) can be a superb method to invigorate business. Placing a time restriction generates a sense of panic and encourages customers to buy before it's too late. If a deal is good enough, they may even purchase goods they never even wanted; they simply buy them because they're cheap. These kinds of sales campaigns are ideal for emails because of the immediacy with which a business can contact their subscribers.
LEARNING FROM MISTAKES
With email marketing, it's simple to see where a business is misfiring. Most email marketing software allows business owners to track click-through and conversation rates. This makes it easy to see how campaigns can be fine-tuned. This not only increases future sales but also improves customer satisfaction, as the business can more accurately target them with the correct services and products. These campaign alternations can also be made be an instant, unlike broadcast or print campaigns which, one they have begun, are very difficult to change.
SEEING A RETURN
The bottom line is arguably the most important thing in business. Incredibly, email marketing is the clear winner here as well. According to Experian, for every $1 spent on email marketing investment, an astonishing $44.25 is the average return. While some commentators believe that social media is overtaking email's importance, 68% of companies rate email marketing as a 'good' or 'excellent' channel. With the lowest risk form of advertising also being the one with the highest return, it's clearly never been a better time to invest in email marketing.