When it comes to email marketing, the return on your investment is real. That’s why it’s hard to understand why so many businesses still fail to use email marketing as a sales tool.
If you’re one of those businesses and are still hesitant, think about this: Email marketing returned a whopping $44 for every dollar spent on it in 2016.
I don’t think that kind of return is possible for every email campaign, but I’d sure settle for just a 400 percent return any day of the week.
If you need more convincing, check out this article on Campaign Monitor.
There’s No Good Excuse Not to Use Email Marketing
For example, let’s assume you have a quality list of 1000 subscribers. For every email you send, you get a 20 percent click-through rate and a 5 percent close rate. That’s is 10 orders for each email.
What is the average value of an order for you? Is it $100? That’s a $1000 is sales and an ROI of 400%. Is it $500? That’s $5000 is sales and an ROI of 2400%.
If the email campaign costs you $200 to send, why wouldn’t you send that message?
Okay, a 5% conversion is very optimistic. How about a 2% conversion rate? If an order is worth $100, that still generates $400 in sales. With a cost of $200, you ROI is still 100%!
This may be hard to understand, but there are a ton of businesses out there that still ignore email marketing as a sales tool. They say it takes too much time. It costs too much money. They don’t ask for the emails of past customers and/or prospects.
Again….email marketing returned a whopping $44 for every dollar spent on it in 2016.
Even if you’re a service industry, sending regular emails to your past, current and future clients (prospects) is a must. You may not get a sale this month or the next, but 3 months from now, you may get a contract for $7500 project. The $600 (3 emails at $200 apiece) you spent to have your name forefront in their mind when they were ready led to a $7500 project.
No more excuses, use email marketing.