What is the Value of Email Marketing
5 reasons why email marketing is worthwhile for startups
If you want to make a newly founded company known, you often focus on social media such as Facebook and Twitter. A brand can be spread there quickly. But anyone who practices well-thought-out online marketing with all facets should supplement this with e-mail marketing.
The email is our daily companion. According to Radicati, there are around 4.3 billion accounts worldwide. Radicati forecasts 5.6 billion accounts for 2019. 109 billion emails are sent every day. Numbers that prove that email marketing is essential as a communication tool.
Why startups should include the email marketing channel and why there is no more cost-effective channel should be explained by the following 5 points:
Advantage 1: Emails are a cost-effective marketing measure
First and foremost, email marketing scores with unrivaled efficiency. The sent newsletter mail Usually costs between 0.01 and 2 cents. If you still want to do classic analog direct marketing, you pay up to 40 cents per flyer and also pollute the environment.
In addition to low investment costs, email marketing also attracts with an unbeatable ROI (Return On Invest). Every euro invested comes back four times (as shown in a white paper from Experian). Anyone who would also like to draw a comparison to social media marketing will be confronted with a forty-fold effect in the area of new customer generation (McKinsey shows this in a blog article here in English).
Advantage 2: High value of an email address
If a customer actively decides to receive company newsletters, the e-mail address obtained is of great value. The established and necessary mode in email marketing is called double opt-in. The recipient has to confirm receipt of a newsletter twice by entering the address and confirming a link. Distribution lists based on this principle are essential for successful email marketing.
Advantage 3: You can address your customers personally with emails
A company can enter into direct communication via e-mail. E-mails can be addressed by name and each recipient can be individually segmented. Data such as origin, age or gender enable us to specifically serve the needs of the customer. While social media can only address the group, the email is personal.
With models such as “Behavioral Segmentation”, the opening and conversion rates can be increased enormously. The classic questions are not asked about origin, age or gender, but indicators such as “first visit” or “dropouts” are analyzed and filtered. Tip: find out more about the behavior of your e-mail recipients and try to develop models that turn “dropouts” into “buyers”.
Advantage 4: Email marketing is measurable
As a performance marketing channel, email marketing can be analyzed in detail from the dispatch to the purchase of a product. E-mail marketing tools such as CleverReach enable key figures such as openings, click rates or bounce rates to be recorded and evaluated. Anyone who integrates tools such as Salesforce, Rakuten, Magento or Google Analytics into email marketing can map in detail how customers behave.
Tip 1 for measurability: Test different subject lines
Using A / B tests, for example, you can test subject lines against each other and continuously optimize your activities with the knowledge gained.
Tip 2 on measurability: quick response
If you run your email campaigns professionally, a response rate of 5 to 15 percent is not uncommon. The response rates are higher if you have won your e-mail lists using the opt-in procedure: Your customers then react up to 50 times more often than classic banner advertising and five times more often than with conventional direct mail.
Tip 3 for measurability: Postview tracking
Postview tracking is a new trend in the integration of Google Analytics. A “measurement protocol” is used to evaluate which users have bought something without having clicked a link in the newsletter. In addition, it is shown which users who opened the e-mails also use your website or your app. Means with which the user learns a lot about his user groups.
Advantage 5: Email marketing saves resources
E-mail and newsletters are a purely digital product. That alone saves you considerable resources. Anyone who has already tried classic mail advertising knows how expensive it can be. The production process can also be carried out well in-house - so you don't necessarily need an agency to work on it. But that can't hurt either. Thanks to a whole range of newsletter services, some of which you can find online for free, the essential steps are quite inexpensive. Not to forget: by doing without printing and sending paper, you make a significant contribution to climate protection.
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