Email marketing: why you should be investing!

email marketing

Did you know that email marketing remains the least invested method on the Internet even though when used to advantage, can be a most lucrative source of online marketing available?  Latest statistics produced by the Direct Marketing Association, reveal that email marketing can generate a return of investment (ROI) of £28.23 for every pound spent, compared to £14.57 for non email marketing.

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These figures show that email marketing can provide twice the return of investment compared to other forms of Internet marketing. In addition to this great ROI, email marketing also provides several key benefits that you cannot be obtained from alternative methods:

Generate repeat sales

Trying to gain new customers can be a very expensive process. In fact, statistically, it can be as much as eight times more expensive to acquire a new customer than to sell to an existing one. When trying to acquire new customers you have to factor in the cost of advertising, educating and selling to them. Therefore, a large chunk of the initial sale is simply offset against the amount it has cost to generate the sale. However, a well executed email campaign allows you to keep in touch with customers on a regular basis, and generate repeat business which can be up to four times more profitable than the initial sale.

Gain feedback

Feedback from customers is like gold to any business; it allows you to ascertain what products/services you provide, who your target is, and what the market is willing to pay. With email marketing, customers are given a unique opportunity to remain anonymous and thus give honest feedback. Using email as a feedback tool means your business can adapt to whatever your market demands and generate more sales as a result.

• Up-Sell and Cross- Sell sales

A prime example of a simple but incredibly profitable up-sell is used by McDonald’s: Ever walked in to purchase a burger but after hearing: “Would you like fries with that?” walk out with a little more? Amazon.com, also employs an extensive system for up-selling and cross-selling whereby if you buy a book, for example, on the Roman Empire, they will immediately follow up with other books on the same topic, or by the same author, thus generating opportunity to create more sales.Using simple email marketing software you can do the same by recommending similar products and offers based on an initial purchase. Statistically, this can easily add an extra 30% to an average customer’s order.

• Increased sales conversion

According to research, the average shopper will visit a website nine times before making the decision to buy, what this means for you is that there is an element of repetition that is needed in the sales process. Consider all the times you have walked past a restaurant before finally trying it out, or seeing an advert on television many times before buying the product. Unlike the traditional “brick and mortar” business model however, there is no ‘drive by’ traffic on the Internet; when someone clicks on the little cross in the corner of the screen, they are gone forever! In addition to this, there are many ways in which a potential customer can get distracted while on your website. For example, a potential customer is browsing your site, they find a product they like, but before they can make the purchase, the phone rings, or their child falls down and hurts themselves, or an emergency comes up, or the browser crashes. If they leave the site there is a 90% chance that you have lost the sale, however if have caught their email address you get a second chance. You can email a newsletter, free reports, or information on new products/services, creating that repetition, which may lead to them returning to your site to complete the purchase.

• Increase your off-line purchases

Email marketing can often lead to potential online customers making their purchases from you offline after receiving promotions and information through email. Why? Well, if a customer needs a product right there and then, rather than wait on a courier to deliver the item they would rather go down to your store and purchase the product in person. The customer may also want to try the product before they make the purchase e.g. clothes, exercise machine etc. With email marketing you can inform potential customers about products that may otherwise be overlooked when looking to buy from you online.

Email marketing is a powerful tool that should not be overlooked by any company that wants to be successful in the online market place!

Related posts:

1. Tweeting in a nutshell – What to tweet and how often
2. Social Media – a simple Guide – the basics
3. Making the Most of Social Media Marketing – Links
4. 5 Qualities of a Great Sales Person
5. Telemarketing

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Related posts:

1. Tweeting in a nutshell – What to tweet and how often
2. Social Media – a simple Guide – the basics
3. Making the Most of Social Media Marketing – Links
4. 5 Qualities of a Great Sales Person
5. Telemarketing

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email, email marketing, email marketing training sussex, internet, investing, seo training sussex, sussex

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