Marketing requires many different traits and skills: creativity, ingenuity, and technological advancement. Marketers use their artistic instincts and the best technology available to reach subscribers and customers.
With so many different options available, it is good to know which marketing avenues work and which are a little dated. A marketing tactic must make good business sense (or, in other words, be conducive to leads and sales).
Is email marketing a good business idea?
What about email marketing? According to a Radicati Group study, 3.8 billion users were around before the beginning of 2019.
However, in terms of being a good idea for businesses to invest in, does email marketing still offer results? Let’s examine how to measure those results, why they matter, and whether or not this marketing tactic is still as viable as it once was.
How to measure the efficiency of email marketing
Email marketing is a strategy that can encompass many different things. It’s about making initial contact with subscribers, following up, resolving issues, presenting deals, and maintaining relationships.
We all know that many other tools can be used to do the same thing. Text messaging, social media, and live chat are just a few of the other tactics companies use to accomplish similar ends.
Does this mean email is less viable than it once was? It depends on the exact metric being tracked, but, in terms of its reach, an email is still an excellent tool for businesses. One way of measuring this is to see just how many people use email.
92% of online adults use email.
However, this doesn’t automatically mean it is an excellent tool for businesses. Maybe a lot of those stats come from personal use? Another way of measuring the efficiency of email marketing involves comparing it to other popular options.
One poll showed that, for promotional offers, 72% of people preferred email as the medium over social media.
We can also measure the efficiency of email by the amount of money it can generate. For some people, this is the most critical factor of all.
Source: Neil Patel
As we can see, email can deliver more return than SEO, mobile, and many other marketing tactics. It’s easily one of the most valuable marketing methods out there. But how much does it matter for businesses to use it?
It is feasible that companies could achieve the same level of promotional success and revenue generation with other marketing methods, provided they have established channels. Does this mean email marketing for business doesn’t matter as much as the stats indicate?
How much does email marketing matter for businesses?
If a marketing tactic makes good business sense, it means it delivers results in an efficient way. Time, money, and human labor are all valuable resources. The benefit of email is that it requires little of all these, but delivers significant results.
Even if email marketing isn’t your primary tool, it should definitely be part of your toolkit. You could also use email as a supplementary element to your primary marketing strategy. Given the efficiency it offers, there’s no reason not to.
Email marketing is still a viable option for any business. No matter your industry, organizational size, or goals, email can be a handy tool. Why does email work so well as a business marketing option? The three main reasons are:
- Emails are a preferred communication medium for most adults
- More people prefer to get promotional offers via email than alternatives like social media
- Email ROI outranks ROI for catalogs, SEO, and other popular marketing tactics
If you’re looking to find a business marketing tactic that delivers big returns, you should get started with email marketing today.