Why Email Marketing is a Potential Goldmine

In the age of social media and instant messaging, the question becomes, is email marketing still relevant?

Well, based on our experience and the work we do for our small business clients, it's a big yes. Email campaigns could be a potential marketing goldmine for your company.

Every business has a contact list of current and past customers and new leads. It is important that you use this list to reactivate your relationship with them. And the best way to do that? Use email marketing.

Keeping your audience in the know on what your business is up to, sharing what offers are coming and re-engaging previous customers or ones that have been on the fence can all be accomplished through an email campaign.

Let’s dig in a little more about why email marketing can be a goldmine for your small business.

You own the list

Every tool in your marketing toolbox has its own job. That means there is only so much your social media platforms and website can do.

If a social platform makes a huge change or shuts down altogether, there goes your content, branding and followers with it.

While your website should do everything possible to close the deal, visitors come and go. You need a way to help website visitors who are on the fence keep in contact with you while they gather more information to make a decision.

Compared to the followers on social media and traffic to your website, with email marketing, you actually own your list, so you don't have to depend on third-party platforms.

Your audience already knows, likes and trusts you

Your customers are on a journey. Very infrequently does someone stumble across a business and decide to buy at that moment. They have to get to know, like and trust you and your business before they are ready to make a purchase.

You can skip a few steps with email marketing. The people on your email list have already interacted with your company. They are either customers or warm leads. This way, selling to this audience is easier than selling to a complete stranger.

It may be that they haven’t heard from you in a while and just needed a reminder about your products or services. Maybe they wanted to build a bit more trust with you. With a few email campaigns, you could be closing a new deal.

Nurture your relationships

While this audience may already know, like and trust your business, you need to nurture that relationship. Growing your business is all about following up with your leads and customers. It takes time and effort to build those relationships up until the point they are ready to become customers or repeat customers.

Email makes it quick and easy to follow up with your entire audience with one email campaign. You can send email campaigns with testimonials from previous customers to build trust. Try creating a campaign with some helpful tips about how to properly use your product to position yourself as an authority in the industry.

So why not try using email marketing to remain top of mind when people are ready to buy?

Boost conversion rates

One of the main goals of any marketing tactic is to boost conversion rates. The success of your marketing campaign is measured by the number of conversions it generates. In order to see those results, it is important to have conversations with potential customers. This is where email marketing comes in handy. Whether you want them to check out a new service or a product you have on sale, or to contact you to make a purchase, email marketing is a great way to give your audience a call to action. Afterall, conversations lead to conversions.

Everyone has email

While email marketing has been around for a while and may seem outdated to some, it has grown significantly in that time. Not everyone uses Facebook or TikTok, but there is a pretty good chance that they have an email address. According to recent statistics, the number of people actively using email is expected to reach 4.48 billion in 2024.

Email is still the most used communication tool for business. Connecting through email also gives you access to one of the most personal communication channels - their inbox! You don’t have to fight with an algorithm or search engine to ensure your audience receives your message.

So, that message you send out has a better chance of hitting the target through an email campaign.

Greater retention and customer loyalty

Out of sight, out of mind. If you make the sale and never contact them again, you lose the opportunity to gain a repeat customer. It is more profitable to create and maintain a group of repeat customers. The chance of making a sale with an existing customer is 60%-70% as opposed to a 5%-20% chance with new customers.

But you have to give them a reason to stick around. Email campaigns are a great way to retain customers and build a loyal following.

By staying in contact with your audience and having your name show up in their inbox, you can keep your business top of mind.

How to grow your email list

If you're looking to grow your business through digital marketing, building an email list is a cost-effective and targeted way to do it. Not only does it help you reach your target audience, but it also allows you to build relationships with your customers, generate leads, and make your brand more well-known - all with one goldmine of a list.

Their email is valuable, and they know it. You have to offer something in return for them to provide you with their email address. Here are some value offers you can provide to grow your email list.

Lead Magnets

A lead magnet is essentially an incentive you offer your website visitors to download in exchange for their contact information. It can be anything that they find valuable and useful, such as a product catalogue, an eBook, a white paper, or any other digital product or service.

By offering a high-quality lead magnet, you can attract more leads, build your email list, and, ultimately, grow your business.

These pieces of content may take a bit of time and effort to put together, but in the end, they can have significant payoffs in the larger scope of your marketing strategy.

Website opt-in forms

One of the simplest ways to capture an email address is to add a form to your website. When they fill out the form, they opt to receive future communications from you. The form can then drive that contact information directly to your CRM or email marketing platform. And just like that, you have an easy way to build your list.

Here are a few extra tips on a website opt-in form: It is important to position the form strategically on your website so it is easy to find. Speaking of easy, you should also make the form as simple as possible so you don’t lose this potential lead after filling out the tenth question. You also want to make it clear what they are signing up for.

An Irresistible Offer

We all love a good deal. Maybe they will be some of the first to access the launch of a new product. Perhaps they will get an exclusive discount on their first purchase or receive a free addition to their order. Either way, your audience is intrigued by these irresistible offers and can’t resist exchanging their contact information. It’s a win-win situation for both you and your potential customer. They get a great deal, and you have another lead which you can nurture to become a customer and potentially a repeat customer.

Use event sign-up forms

This tactic essentially combines a lead magnet with an opt-in form. If they sign up to attend webinars or other events that you are putting on to provide free, valuable information, they are also agreeing to receive future communications from your company. They land right in your email marketing list. This is a great way to start building trust and authority with your audience. It’s also an even better way to capture more leads and build your email list.

Email marketing is a tool that will continue to support small businesses for years to come. It is an effective tactic to convert leads into customers and customers into repeat customers. You can nurture relationships with valuable information and exclusive offers sent directly to their inbox regularly. Your email list is not just a collection of addresses; it's a powerful tool for reaching your target audience, building relationships, and ultimately growing your business.

Growing your email list is key to leverage this marketing goldmine effectively in your favour. Offering value through lead magnets, strategically placed website opt-in forms, irresistible offers, and event sign-up forms can help you build a targeted and engaged audience. So, why not tap into this potential goldmine and take your small business to new heights through email marketing?

While you may want to tackle email marketing, it can be time consuming for your business; between coming up with email templates, topics and content, you just don’t have the time. But that shouldn’t stop you from adding this tool to your marketing toolbox. EDGE Marketing can help you build your audience and content with them through email marketing services. Contact EDGE today to learn more if you want to reach your audience's inbox.

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Posted: January 30, 2024