The Proven Value of Email Marketing & Why You Should Never Neglect It
Of the various ways to market on the internet, email marketing has become an after thought. Whenever I receive a call or inquiry in regards to consulting about online marketing I usually hear buzzwords like web design, SEO, PPC and social media. I never hear the word email come up. It’s easy to understand why. Most people associate email marketing with the idea of Spamming inboxes. Many of our emails are inflated already, why would we want to add fuel to the fire?
I’m here to tell you that email marketing is not dead. It’s more alive than ever. In fact, the focus of your online marketing strategy should be to build your email list. The goal is to get as many “opt-in” emails as possible.
Never have to pay for marketing again
The reason email should be the focal point of your online marketing strategy is very simple. Once you grab someone’s email address, you will never have to pay for marketing to gain their clicks again. After the initial click investment to acquire their email you will not have to pay for their traffic again. You will have the ability to market to a consumer for the rest of their life on the premise that it will never cost you a penny more.
The Proof is in the conversion
This may be a little hard to accept for most people so let’s find truth in the numbers. Let’s say you have a sales page that converts at 5%. That means you are using 95% of your ad spent is on lost traffic. That traffic is potentially lost forever unless you remarket to them with the same ad budget. When they click again, that means you pay again.
On the flip side, if you have a potential customer opt in via an online purchase or signup form the cost to remarket is drastically reduced. As long as you create a compelling email with an enticing subject line, that remarketing is basically for free.
Assessing the true value
In a business model of: get traffic > sell your product > make your money, your business becomes an arbitrary cycle. If you spend your time building your email list while selling the cycle becomes more systematic. In addition to that, no matter what traffic sources you use or how much they change, you will always have the asset of an email list to fall back on. On a final note, if you decide to sell your business the buyer will have more confidence in an asset like a trustworthy email list.
I hope I’ve opened your eyes to some of the reasons why the value of email marketing is so intangible. Feel free to leave a comment below or reach out if you have any questions or you want to continue the discussion.