Top 10 Reasons Why Email Marketing is Advantageous for Medium-Large Sized Businesses
If you’re editing your digital marketing strategy – email marketing may seem like more of a niche avenue compared to digital ads. However, simple doesn’t mean non-efficient. In fact, email marketing is one of the most sure-fire ways to grow loyalty and consistently reach the right clients at the right time – all with a newsletter!
Email marketing takes customers that have already made a purchase with you and add them to a newsletter list. You have constant sales opportunities at your fingertips. These customers have already proved to you that they love your brand – whether they’ve interacted through an inquiry, click or purchase.
Leveraging ongoing relationships with your most loyal base means providing the information they have already expressed interest in hearing about. For eCommerce, maybe that means a new product release in the same space. For travel, maybe it means a new deal or seasonal offer. Give your customers a feeling of exclusivity and that will keep them coming back!
1. Exclusivity, memberships and clubs are tried and true
Of course, exclusivity is nothing new. You must also remember that successful digital marketing strategies rely on methods that aren’t just the most innovative, but also the most powerful. Email marketing delivers one of the highest ROI of digital marketing strategies, culminating at an average of $42 for every dollar spent. Why is this? When done right, email marketing connects with the desires of specific types of buyers – motivating them to make that purchase with offers that can’t be ignored. Consistently, it drives sales and customers to want to belong with the upper crust of society and validates their wishes.
The exclusivity element still holds true today: there are higher-tier credit cards that offer access to private airport lounges and priority seating at sporting events; there’s a fine line between owning one or two sports cars and being an enthusiast – so some luxury brands offer rarer models for their most loyal customers only; what would be a better way to celebrate your upcoming wedding than by throwing a lavish party with an open bar? Even when customers have spent more than average, exclusivity offers unique and rare offers that keep customers coming back.
In essence, if you have something special to offer, don’t forget about those who already love you best. They’re going to be your greatest advocates in time!
2. Email still has high open, click and conversion rates
Email is a great marketing strategy for medium-sized businesses because it’s the most affordable and has the highest open, click and conversion rates. Medium-sized businesses don’t need to worry about spending a lot of money to build a large following and see an increase in their sales.
One reason that email marketing is popular is that it’s inexpensive and easy to deploy. Emails maintain low costs while providing incentives that link back to your website and selling platforms. If someone comes across one of your ads in their email inbox, they’ll be able to instantly connect with you to learn more about what you offer.
As well, customers search their inbox more adequately for information – rather than a quick scroll past a digital banner or social media ad. Emails are sources of information – and your newsletter is something customers look forward to.
Email marketing also has a high open rate, as well as a high conversion rate.
The ability to segment and personalize emails ensures that email marketing is authentic – and that messages provide an incentive to spark each kind of customer’s interests. Arguably, email marketing remains a diversified asset that customers trust knowing their needs will be displayed in your emails. Thus, emails are opened knowing that the deals are worthwhile.
Medium-sized businesses are not limited by cost or by time with email marketing. Deals are happening all the time – customers come to expect surprise emails. With email marketing, you can reach customers during the day or night – it’s all in your control. As long as your business doesn’t abuse this privilege by sending spammy emails, you can use it to stay top-of-mind with potential customers even when you’re closed!
3. Allows for real time messaging compatible with the seasonality of your business.
Digital marketing is all about communicating in real time. With email marketing, you can keep up with what’s happening in the world and change your message according to the buying trends of the time.
For example, if it’s winter, you can offer winter-themed products or promotions to your customers. Additionally, if your customers are a younger, Tik-Tok minded audience and one of your products fits with a trend, your copy can use a play on words to introduce your deals. If it’s summer, you might want to promote your sunscreen line. Whatever the case may be, email marketing gives you the power to communicate meaning with your products with seasonality.
If you’re constantly updating your website with new and relevant content and offers, customers will view your email messages as they would an update from a trusted friend instead of a business they only interact with occasionally. Email marketing allows brands to create relationships with their customer base through ongoing communication and promotion. The key to building strong customer relationships is proving you have their specific needs top of mind – and email marketing provides the template just for that.
4. Optimized send times
The success of an email marketing campaign is dependent on its timing, placement and content. If you’re sending an email blast to your entire list, the best time to send would be at least a week before the event. This way, your customers have ample time to make arrangements or budget for it. Sending too soon might cause some customers not to see the email, reply to it in time or plan out their wish list.
You can also tailor your message by segmenting your list by customer type. For example, if you offer a service geared towards both men and women, you could tailor your message based on their different needs. A women’s clothing store could include tips for transitioning into fall fashions while a men’s clothing store could include how-to videos on tying knots or choosing ties. This way, you know that each message is reaching the right audience and will lead to increased engagement rates!
5. Customer segmentation for targeting
One of the biggest advantages of digital marketing is the ability to target your audience. Not only is it advantageous, but necessary. Mailchimp found that segmented email marketing campaigns receive 14.31% more opens and 100.65% higher clicks than non-segmented campaigns.
Following the age-old psychology of shopping – we shop because what is offered is what we are interested in. You shouldn’t play darts with email marketing and hope that something lands – that customers may be interested and willing to purchase what you offer, you need to offer them exactly what they want! By using relevant information, you can reach more people that are interested in your product or service instead of just relying on social media presence or other outdated methods.
Imagine, for example, trying to target your ideal customer with traditional means like print ads. Targeting someone based on demographic information is difficult since there are so many factors that go into deciding whether someone will be interested in your ad. For example, a woman may not respond to an ad for a men’s clothing store because she doesn’t identify as male.
However, email marketing makes it easy to target customers based on their interests and demographics with digital analytics that track and measure your segmentation. As your email list grows, you can continue developing your segmentation for accuracy as you gain more analytics. When you use targeted marketing, you’re able to reach out to new customers by talking about things they specifically care about—whether that’s related to their job or something they’re passionate about in their personal life.
6. Funnel automations
Funnel automations allow you to automate your email outreach through a series of pre-written emails. Even if you’re not directly responding to your customer – your email marketing tactics are doing the work to build loyalty for you. Funnel automations can be set up for any type of lead follow up, such as:
- Welcome Emails
- Nurturing Emails
- Sales Emails
- Thank You Emails
The emails in the automation will be sent at predefined intervals or according to certain actions, such as when a lead visits a specific page on your website or browses a product in your online store. With each new message, the recipient may be shown how far along the lead has come in their relationship with you and what’s next.
Ideally, you would want all these messages to be personalized to the individual recipient. This is where CRM integration comes into play. If you use HubSpot CRM, for example, the system will automatically pull in data like name and address from your marketing automation tool and append it to outgoing marketing emails. Remember, you’re not just talking to customers, you’re building a business relationship with each person.
7. SMS/Text messaging can also reach people in a similar way
It’s time to start thinking of SMS text messages as an ad channel with the potential to be just as effective as social media. There are a number of ways that SMS text messages work for businesses trying to increase customer engagement. You can use them to provide deals or coupons, notify customers about new products. or offer exclusive deals only available through specific channels. And, if you’re using them with retargeting, you have the ability to build your list faster and more cost-effectively than traditional email marketing approaches by reigniting interest.
SMS affords a new channel to attach the tried and true practices of email marketing to. You can also deliver weekly newsletters over SMS text messages that are tailored specifically for mobile phones. It might be news about the industry, tips on how to better manage their finances, fun facts about your business you think they might enjoy, or even something like a weather report for their area during the upcoming week.
Lately, SMS emails have grown to be a normalized part of the customer service experience for customers looking to ask questions about sizing or recommendations. So, it is clear that if customer service is taking place across SMS, then simple promotion offers should be as well. The key thing is that you remain flexible and make sure your content works well for this channel – it’s not always going to be good old fashioned advertising.
8. Long form storytelling opportunity
The best way to get to know your customers better is through storytelling. Think of storytelling as a way to create a relationship with your customers by exchanging information and ideas. If your email tells a story that fits the interests of your audience, customers will be able to easily visualize how your product fits into their must-buy category.
Storytelling is the best way to engage your customers because it creates a very personal experience for them. When you give them insight into who you are as a person and what the business stands for, they’ll feel more connected and invested in keeping up with your brand. Behind every business are humans, and connections are the most mobilizing force of any business decision.
When you take time to craft personalized messages, people will feel valued and appreciated. They’re going to be more open to hearing what you have to say and purchasing from you! It’s important that all of your messages are sincere – that means telling stories that really come from the heart or align with the values of your customers.
Take some time every day or week to think about how you can share stories about yourself, your business or a story that inspired you. These messages will speak volumes about who you are as a person and what you stand for as a company, creating an emotional connection between you and your customer base. When relevant, connect this story with an initiative to involve your customers within acts of kindness.
9. Dynamic inventory for eCommerce
For eCommerce, dynamic inventory is an effective way to capitalize on your ongoing relationship with your customers. Dynamic inventory updates the products you offer based on your customer’s past interactions with your site.
For example, if someone never clicks on a product page for dresses, then that means they’re not looking for dresses at that time. Dynamic inventory helps you sell more of what people are interested in, and will prioritize other products that will sell over dresses.
Dynamic inventory is a tool that can be used alongside email marketing. Email marketing will pinpoint inventory of interest to customers and their resulting clicks will inform the software of their buying decisions. It may be one of the most valuable tools out there for medium-large sized businesses to manage their resources while keeping up with demand. It’s always evolving according to customer preferences and past interactions so you can provide them with better options than before!
10. Personalization of names, previous purchases, dates, etc.
At this point, you’ve already done the hard work of finding your customers and building relationships with them. The magic of email marketing happens where personalization begins. So, if you want to keep building on that relationship, it’s time to personalize. For large businesses, that means all the time you spent building large email lists is finally put to profitable use.
Personalization doesn’t simply mean marketing to customers in different ways. Your digital marketing strategy needs to stay consistent across the board to maintain a proper, credible brand image. Instead, it means taking your email marketing strategy, and ensuring that each recipient within your marketing funnel feels acknowledged and appreciated. Every customer should feel truly understood and equally validated that you acknowledge their time and money spent with your company. Adding in pervious purchase history, dates and name within emails is a small detail that you’re just as in the loop as they are.
Customers want to commit to brands who commit to them and their preferences For example, if they purchased a green sweater last year for their mom, they might be interested in other items in green this year, like a scarf or slippers. Your recommendation shows a promotion offered through a previous connection and capitalizes off the credibility of this bond.
It also means giving your customer a sense of exclusivity by providing information that is relevant just for them. Maybe you have a new product release that fits perfectly into what they were looking for or a new deal that suits their interests perfectly. When you personalize, your email marketing feels less like a sale and more like an in-the-know piece of information that is generated just for their tastes.
Email Marketing is the Best Digital Marketing Foundation for Medium-Large Sized Businesses
With the personalization and segmentation email marketing requires for medium to large sized businesses to achieve high conversions and click-throughs, businesses engage in an irreplaceable process of understanding the real desires of their audience. Target market knowledge is king in any digital marketing strategy. The analytics gained from email marketing can be used to accurately assign dynamic inventor and make internal business processes efficient. As well, the practices of email marketing are converging with SMS. By implementing an effective email marketing strategy now, you’ll be equipped to utilize the benefits of SMS.
Understanding your target market’s desires can feel like wading through mud to find water. Our Calgary digital marketing team are email marketing experts that use our experience building brands to help medium-large businesses grow their email marketing list, implement automatic and curate quality content that drives high ROI’s.