What is Email Marketing? Types and Benefits of Email Marketing
What Is Email Marketing?
The first email sent by Ray Tomlinson in 1971 or 1978, depending on your source, marked the beginning of the modern communication era. The message was nothing special, a series of numbers and letters that looked more like a password than a message, but its significance was deep.
Email marketing is the process in which you send a commercial email message to your ’email subscribers’ – contacts who have signed up to your email list and given explicit permission to receive email communications from you.
Email marketing is a powerful marketing channel that, along with direct marketing, is a form of digital marketing that uses email to promote your business’s products or services. It can help keep your customers informed of your latest items or offers by integrating them into your marketing automation efforts.
Importance Of Email Marketing For Your Business
Email is a huge part of our lives as professionals, individuals, and yes, even consumers.
Think about it, how many people do you know without an email address? There’s a good chance you can count these people on one hand.
According to the latest survey, more than half of the world’s population uses email in 2020.
And that number is expected to increase to more than 5.3 billion by 2025.
This presents a great opportunity for businesses of all sizes to reach their target market, no matter what their audience looks like.
By adding email marketing to their list of digital marketing strategies, businesses can improve their reach and visibility.
Thus, allowing them to engage and convert more leads consistently
Email marketing allows you to personalize your messaging and tailor messages based on customer actions.
You can also segment your audience to make sure the right leads are getting the most impactful information at the most effective time.
This means that if you want to remain competitive in the digital marketplace, you need to start using email marketing to reach your audience.
Types Of Email Marketing:-
Email marketing has come a long way since Gary Theurk, a marketing manager at Digital Equipment Corporation, fired the first mass email in 1978, calling him the father of spam.
Since then, creative marketers have come up with an assortment of email marketing campaigns to make their way into the elusive inbox.
To accomplish this, of course, the right approach must be adopted. To help you out, I’ll highlight important types of email marketing you can use to capture the attention of your customers and prospects.
Congratulations, you have gained a new customer. Imagine for a moment that you’ve made a new friend or maybe a new colleague, it’s only polite to introduce yourself. This is what the welcome email is for. It is not the most common email, but it is one of the most effective.
A newsletter is a perfect option for a company that promotes its services and products through content marketing. Multidisciplinary emails aggregate the best articles, videos, or podcasts and regularly deliver them to customers’ inboxes.
Dedicated emails, also known as stand-alone emails, only contain information about an offer. For example, you can use a dedicated email to notify your target audience about a new whitepaper you’ve released or invite them to attend an event you’re hosting.
Lead Nurturing Emails:-
Lead nurturing emails target people who have not yet decided to purchase from your brand. The main goal of these emails is to get in touch with customers and motivate them to buy by showing them the benefits of your goods or services.
The email should be focused on the importance of your event and the objectives and audience you share. Keep in mind that you are looking for a long-term partnership rather than a one-time event sponsor. Your message should be brief with only a few sentences. Start Hot: Your next challenge is to keep their attention.
Unlike marketing emails, transactional emails are not intended to make a profit. Their primary purpose is to inform users about changes made to their account, purchase status, shipping updates, etc.
If your customers haven’t responded to your messages for three months, it’s time to send them a re-engagement email. This type of email helps your customers re-engage with your brand and removes inactive customers from your mailing list.
Brand Story Emails:-
A brand story email is a cohesive narrative that includes the facts and feelings created by your brand (or business, if you prefer). Unlike traditional advertising, which is all about showing and telling what your brand is about, a story should inspire an emotional response.
Review Request Emails:-
A feedback request email is a message that collects qualitative feedback from customers after they have participated in an event, purchased a product, used a service. It contributes to building customer loyalty and helps marketers gather valuable insights and use them to improve the product.
Benefits Of Email Marketing:-
An email has become such a popular marketing tool for businesses partly because it compels the user to take some sort of action; An email will remain in the inbox until it is read, deleted, or archived. And email is also one of the most cost-effective tools available.
Email marketing can help you build relationships with your audience, as well as drive traffic to your blog, social media, or anywhere else you want people to see.
As the VentureBeat report shows, email marketing does not have a long duration in any marketing category. While some marketing trends come and go, email remains the most powerful channel available to the modern marketer.
Here are 7 reasons why:
1. Unrivaled Return On Investment:
Given email’s unmatched ability to drive conversions, it makes sense that email is also the most effective marketing channel for driving ROI for your company. Email marketing provides an average return on investment of 3,800% for businesses, and for every $1 spent on email marketing, the average return on investment is $38.
2. Instant Impact:-
Email marketing can allow you to create targeted and personalized messages. This is having an immediate impact on the performance of the business. Any business can start seeing their email marketing results within hours of their email being sent.
3. Reach Global Audience:-
According to the survey, the total number of email accounts worldwide stood at 4.5 billion in 2018 and is projected to reach 5.7 billion by 2025. Email is the currency of the web, and anyone online has an active email address. And while Facebook and Twitter may seem pretty ubiquitous, data breaches and the ongoing struggle over privacy mean that many people are opting out of certain social media channels.
4. Easy To Share:-
If marketers have to choose between adding a subscriber to their email list or gaining a new Facebook fan, they must go for the email subscriber every time. Because email makes sure your audience gets your message.
And when customers like email content, they want to forward the email to their friends and family members. Social proof is also helpful in email sharing.
5. Easy To Measure:-
Email marketing is quite easy to manage as compared to any other digital marketing channel. You can easily track the performance of your email campaign and know what is wrong with your email marketing.
With the help of these metrics, you can easily identify the weak point of your email marketing. You can then make changes, you’ll need to make in your email.
6. Easy To Get Started:-
Email marketing does not require a large team of technical experts to be successful. To be successful in email marketing, even a single person can successfully handle an email marketing campaign.
Many email marketing platforms, offer drag and drop editors that allow you to quickly and easily create stunning campaigns.
7. Conversions And Increased Sales:-
If you have a new promotion people can click on the link and follow your call-to-action right away. Email marketing is also effective at every stage of the buying process.
For example, you can influence someone to choose your product, nurture a post-transaction customer relationship and even encourage future purchases.
Out of all the channels, email consistently outperforms most of them. Not only does it have a high conversion rate, but as you build your list, you can monetize it consistently by pitching multiple products. Check out e-commerce sites like Amazon. One way they encourage you to buy more products from them is by emailing you offers regularly.
It is now clear that email marketing is the most effective digital marketing channel. And it will continue to be an effective digital marketing channel for the business.