As it’s halfway through the year 2020 as I’m writing this blog post.
Email open rates are at an all-time low, conversions are below what they’ve ever been before, so the question I found myself asking, along with many others…
“Is email marketing important in 2020?”
Terms like “The Money Is In The List” or the concept that the bigger the size of your email list, the more money you’re able to make have slowly become farther and farther from the truth.
As other platforms have opened up avenues to stay in contact with your potential client’s email marketing has been drastically affected by it.
However, even though the open rates aren’t what they used to and the conversions might be lower than they were when email was one of the only methods used to follow up with customers online. It can still be a very effective marketing strategy!
It is still used by almost every business across the globe & Isn’t something that you should overlook. With some of the things I’ve mentioned above, the cost of being able to implement email marketing campaigns in your business can be done for less than you are probably spending a month on coffee.
Not to mention that you can automate 99% of it nowadays.. Which means that you’re not spending countless hours writing and sending out emails.
It’s not that conversions are worse, or that email marketing is less effective. It’s that it is readily available to everyone, you don’t have to be tech-savvy to start implementing effective email marketing campaigns within your business.
That is also the driving factor why open rates are at an all-time low because everyone and their brother is following up through email. I don’t know about you but I know that I get hundreds of emails a day from various things.
Related Post: Which Email Marketing Software Should You Choose?
So Why Is Email Marketing Important In 2020? 5 Reasons Why It Will Benefit Your Business.
1. The Cost
The most prevalent point that I’d like to make, is the cost. You can subscribe to email software companies like GetResponse, Active Campaign, or Aweber for less than you probably spend every day on your Starbucks coffee.
Now don’t get me wrong, if your a massive brand and you have a huge email list, then email marketing software subscriptions can get quite expensive as they’ll be storing hundreds of thousands of email addresses and data for you, but since you’re reading this post I’m going to assume that you don’t have a huge customer base.
Even if you have a good-sized email list or engaged audience, you shouldn’t expect to pay more than a dollar a day for your email marketing software. Which will actually be negated by your campaigns that turn a profit.
I pay $50 USD Per month for my email marketing software and I have a list of over 1,000 engaged people. You can expect to make anywhere from $0.50-1.00 every month for each person on your list, If you’re not then you should clean your list and save some space for people that are going to engage with your promotions. (In the make money online industry)
2. Building An Engaged Customer Base
Most business’s revenue actually comes from repeat customers or fans that become loyal to a brand. Think Apple Vs Android, Nike Vs Adidas, or any other Ying & Yang throughout the industries, this is where targeted email marketing campaigns really start to shine.
Catered emails can be used for anything from telling all of your subscribers that you just uploaded a new blog post or a Youtube video to sending them a time-sensitive offer for a pair of jeans that you’re selling.
Someone who has had a good experience with you or your business before is 100 times more likely to purchase from you again. Even if at times your product or service is more expensive than someone else’s because you’ve built a relationship with them. They’ve developed a sense of comfort with you and if they believe in you or your brand they’ll believe in anything you try to sell them!
Check Out My Other Post!: Why Using Sales Funnels With Affiliate Marketing Can Change Your Entire Online Business..
Deploying effective email marketing campaigns don’t require the amount of work that they once did. Instead of spending countless hours writing email after email or maybe even copy and pasting them and sending them out by the hundreds. (Which comes across very impersonal and doesn’t work very well by the way)
You’re going to save a massive amount of time because you are not only able to re-use email marketing campaigns that you’ve used before / newsletters but you can actually automate the entire process once you’ve set it up.
One of my favorite features that some email marketing software companies offer is the “Perfect Timing” option. Which sends out your emails to the people in your list at the time that they are most likely to click on it, based on the way that they’ve interacted with your email campaigns prior.
You can even build out fully functional campaigns and send them out to everyone on your list from your phone nowadays!
My personal favorite software company that offers this and the one I’ve found to be the best is GetRespsonse. They also have a Free 30 Day Trial so you can really get comfortable with the software prior to actually purchasing or committing to a monthly subscription.
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An email marketing workflow is a fairly new concept but it has been a game-changer. Similar to interest-based targeting advertisements. We now have the ability to track our customer’s interactions with our emails to a level where every email that we send them feels like it was personally made for them, even when it was created in bulk.
This is an advanced marketing technique but once you can master this, you’ll start to get results from your email marketing campaigns like never before.
You can cater to your emails so precisely that you can actually direct people into different campaigns or send them different promotions based on their activity. Setting events such as: whether they open the email or not, click on the link inside of the email, or even something as crazy as sending someone a personalized email as soon as they reach a certain point on your website ( If they’re already on your email list of course.)
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5. Increased ROI / The Ability To Scale Quickly
Something that I’ve seen a lot, especially in the affiliate marketing or make money online industry is people have a hard time actually being profitable when going with paid advertising but they decide to skip out on capturing an email address or building an email list at the same time.
I actually fell into a really bad habit of this when I first started promoting Clickfunnels products. I was making commissions and sales through my paid advertising but it wasn’t enough to call it a full-time income by any means. To be honest, I was barely breaking even, that is until I started building an email list at the same time / capturing leads which then, even if I was breaking even I still had the means to make a potential profit because I now had a contact that I could promote a different product to down the road.
Building your email list gives you the ability to monetize on each person more than one time, creating the opportunity to spend more money on advertising and increase your overall revenue. Whether your breaking even right after you invest or months down the road, if you weren’t collecting email addresses you would have only been able to make one point of contact with your customer instead of many!
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