Email Marketing – A Unique Business Opportunity
Studies show that 58% of people spend at least 2 or more hours a day checking, reading and sending emails. A large percentage of these admit that checking their email first thing in the morning has become a habit. This is what makes emailing a great way of promoting a business.
What is email marketing?
It is a means of direct, yet broad marketing that encourages customers to purchase or re-orderproducts or services. It helps build customer-company relationships and to acquire new customers. When handled correctly, it creates a unique but effective business opportunity not only for ecommerce but for physical establishments too.
Email marketing is generally backed by an established website and web-based software that allows easy tracking of movements and results. It is an effective tool for driving sales, downloading of forms, registrations and inquiry submissions. It makes use of informative newsletters and other promotional materials for the purpose of spreading a message or growing a business.
The study further reveals that about 90% of retailers declare that email marketing has proven to be successful for them. That success rate may be attributed to the fact that more than 50% of email subscribers have made purchases as a result of receiving advertisements through email.
The Advantages of Email Marketing
1.Wider Reach, Instantaneous, Cost-Effective
Because email can reach almost any part of the globe, it enables businesses to reach a wider audience. Messages are sent and received instantaneously enabling communication with customers in real-time.
Campaigns need not rely on costly personnel investments, printing and mailing expenses, advertising rates or phone connections but only on software and hardware. Thus, overhead costs are kept at a very minimum.
2.Improved Awareness, Relations, Spread of Information
Product information and updates are sent out regularly and fast! Responding to customers is also quick, giving customers the feeling of being important. This is vital in maintaining a good relationship and encouraging their loyalty to the brand.
3.Easy to Track and Test
Evaluation of campaign success is easy to track thus allowing opportunities for improvements. The metrics include:
- Click-through – a link where a customer buys a product, requests a service, schedules a dialogue, download, etc. The content associated with this link has to be attractive enough to encourage email recipients to actually take action.
- EPC – earnings per click lets you see not only the action taken by your audience but the earnings generated at each click. This helps you determine which product attracted more buyers which means you may want to offer more of it.