How Effective is Email Marketing in 2021? It is one of the best if not the absolute best digital marketing strategy – with the highest ROI. If you’re not using email marketing you are missing out real opportunities. Find out how effective email marketing is, 8 ways you can use email marketing to get the best ROI, and a case study from one of our clients after 6 weeks of starting email marketing campaigns.
Numbers don’t lie.
Check out these 5 statistics:
The return on investment for email marketing is 4200% – for every one dollar spent, $42 are generated. That far exceeds the ROI on any other digital marketing strategy.
89% of marketing professionals prefer email marketing as their primary tool. And 72% of customers also prefer email as their main business communication channel.
We often think of emails as unsolicited digital flyers and spam, but statistics show that 61% of subscribers prefer emails weekly, and 38% even more frequently. So if your emails aren’t spammy, they’ll be welcomed!
Email marketing is more effective than social media – with a 40% higher conversion rate!
So email is obviously a key to marketing your products and services online. But how do you do it to make sure you get that 42x return? How do you use email marketing on a ecommerce store versus a service based business?
8 Ways to use email marketing and get the best ROI
I’ve done the following for my clients and for myself, bot e-commerce stores and service based businesses. For ecommerce operations, we typically use Mailchimp or a similar platform. For service based businesses, like Grandway Marketing, we tend to use HubSpot as it’s more aimed towards building relationships and managing a sales pipeline rather than just email blasts.
- Send exclusive promotional emails with coupon codes that can be applied on your online store.
- Build a email list with a subscribe form on your website offering something like a promotional deal (think 25% off your first order) or even something free (think e-books).
- Recover abandoned carts.
- Promote content like your blog post or case studies to keep in touch and nurture your relationship with your clients and potential clients.
- Automate and personalize your communication through email. You can send thousands of people the same email simultaneously, and also personalize it to address them by name.
- Cold outreach and follow up.
- Introduce new products, upsell current clients.
- Always send value, not spam. Whether it’s a discount coupon, a valuable blog post, or a case study, make sure it’s valuable and relevant to your industry and your target audience. Nobody likes spam!
Case Study – Email Marketing for E-Commerce
Here’s a screen shot from a email campaign we started, this is 6 weeks in:
The timeline in this screen shot is 6 weeks starting from the bottom going up. We pulled 1000 subscribers from the client’s woocommerce customer list. We started with a single email offering 10% off and got $7,121.77 in sales.
Our second email is an automated welcome email that is sent when users subscribe to the email marketing list. They receive a coupon code for $10 off their first purchase. This is ongoing and has made $9,533.92 in sales and counting. This automated email almost doubled the email list from 1000 to 2000 subscribers.
In the first 10 days of email marketing we generated over $10,000 in ecommerce sales for our client.
At the end of May we ran another promotion – one email was the initial promo, the second email was a “Last Chance” email on the last day of the promo. These two emails generated over $12,000 in sales in the span of 6 days.
On June 1st, we extended the May promotion by one day, and that generated another $3,352 in sales on that day alone.
We also set up an abandoned cart email which is completely automated and works 24/7. It sends emails to anyone that got as far as adding products to their cart, checking out and put in their email but didn’t actually place the order. We recovered a couple of sales that would’ve been lost otherwise so even though it’s a small amount, it all adds up.
Would you like to discuss how we can help your business grow with email marketing? Let’s chat about how you can apply it to your business and we will also provide you a quote. No pressure to hire us. At least we’ll have a productive chat and you’ll leave with some ideas that you can apply immediately!