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Sometimes it might seem like we are beating a dead horse with this discussion. But no matter what, it seems like someone is always discussing the impending downfall of the entire business of email marketing. We’ve already discussed why Gmail’s inbox changes won’t doom email marketing, and why email marketing might seem to be dying, but it’s probably just being practiced ineffectually. So this time we’ll try and take a look at a few of the long-term benefits of email marketing. The things that happen after your list is built and the real value-building begins.
The reasons why email marketing is valuable initially are fairly well known: high ROI, low cost, effective engagement, the list goes on. But a great deal of the value in email marketing comes from the long-term upside of maintaining a great relationship with customers and building trust. Let’s take a look at a few of these long-term perks:
It’s a well-known business axiom that it costs more to acquire a new customer than to retain an old one. Yet so many companies are focused almost exclusively on building their list and gaining new customers that they forget about their existing ones.
Email marketing is an excellent way to ensure that customers keep coming back. Many marketers assume that if someone buys once they will buy again, but with so much competition in consumer’s inboxes their next purchase may very well be from the brand that took the time to send them an email.
Building Relationship and Building a Brand
Email marketing is an excellent platform for engaging customers and building relationships, which in turn helps to build your brand.
Once you’ve accomplished the difficult task of establishing a relationship with a customer it’s important to nurture that relationship to ensure future engagement and sales. Not only does this increase revenue but it also fosters brand growth at the same time.
Building this relationship also allows marketers to learn more about customers in order to more directly target their needs. This information can prove invaluable; as you learn what is important and valuable to customers and tailor your brand’s message to them, you will discover they tend to buy more frequently from you.
Increasing Online Sales
Isn’t this why email marketing exists in the first place? At the end of the day the success of any marketing initiative is measured in sales, and very few platforms are as successful as email marketing.
Estimates for the exact metrics on email marketing vary wildly between different types of businesses, but many experts put email at representing anywhere between 20%-30% of retailer’s total online sales. Those are numbers that need to be taken very seriously by marketers everywhere.
So why is email marketing still alive and kicking? The proof is in the results. Email marketing is still an incredibly cost-effective and valuable tool. It reaches new customers, allows constant communication with existing customers, grows your brand and delivers sales. Email marketing is far from dead, it’s hale and hearty and still growing and evolving as a marketing platform.