Importance of Email Marketing for Better Conversion Rates
Email marketing has been around since the 1970s and is here to stay! A lot of people believe that email marketing is dead but it’s far from it.
Email marketing is the king of all marketing channels and is still considered to be the greatest source of communication. Despite the emergence of other channels, email has sustained its position and will continue to do so.
According to Statista, 293.6 billion emails were sent out in 2019, which is projected to increase to 347.3 Billion by 2022.
And do you know why?
That’s because the return on investment(ROI) on email marketing is massive because email marketing has its roots strengthened for converting leads into sales if done effectively!
For every 1 dollar that you invest, you get an average return of 42 dollars. Imagine the heights it can take you to.
In this blog today, we are going to understand how email marketing helps you turn your potential leads into customers and thereby help you as a great conversion tool. We will discover how email marketing acts as a medium to fulfill multiple purposes with having only one major ultimate aim: Conversion of leads into sales.
Email Marketing Brings Back Lost Visitors by Retargeting
Email Marketing is a great tool to reconnect with someone who once visited your website but did not take any action apart from signing up for a newsletter or your promotional offers because he/she felt that your product was interesting.
You just thought you lost them there. But guess what? You did not.
Email marketing is an effective way to reconnect with pre-screened leads. A lead that you thought was gone forever as they only just visited and did not buy anything. Email marketing helps you re-market such leads and that effort is likely to pay off as the visitor was someone who already had some underlying interest in either your company or your products because that’s how they landed on your website in the first place.
Email marketing is important for a better conversion rate as remarketing that one particular prospect, nurturing them well, engaging with them on all levels through emails raises your probability for a higher conversion.
Email Marketing Gains More Attention by Connecting on a Personal Note
Any message that is received on a personal note is almost always welcomed and so is the case with personalized emails. According to research, personalized emails generate a median ROI of 122%.
Personalized email subject lines ensure positive communication with the recipient, thereby reducing the unsubscription rate. Some of the ways you can personalize your emails are by mentioning their name, sending them emails based on their preferences, using the name of the rep your client must be dealing with, etc. Such measures ensure that the recipient feels warm and positive.
Email marketing is a great tool for conversion as it helps in communicating with the receiver on a personalized level that makes them feel that they are valued, which thereby also helps in better conversions throughout the journey.
Email Marketing Segments Leads and Sends Custom Messages With Relevant Content
Email marketing also helps in maintaining an effective communication journey with your recipients breaking down the leads into different segments based on their different personas and then targeting them through tailored emails that contain information that is relevant to them and draws their attention.
Some of the basis on which the list can be segmented are purposeful, based on demographics such as age, gender, location, etc. Some of the ways these emails can be tailored as per the segments are by altering the language, basing your email on their demographics, offering exclusive offers as per their needs, etc. Email marketing when done effectively, such as by segmenting your audience and sending your emails as per the segmentation, often results in a better conversion rate.
Email Marketing Focuses on Building a Relationship
Email marketing also helps in maintaining an effective communication journey with your recipients by sending them different types of emails. Sending emails that push your receivers to take a buying action comes across as too strong and pushy. This scares away the recipients and forces them to unfollow you.
Thereby, emails are often sent as a part of a campaign wherein he receives all types of email templates such as welcome emails, educational emails, promotional emails, review emails, etc. which helps in building on a journey with the prospect. It is an essential part of converting a lead into a sale because a journey makes them feel comfortable and makes them want to trust you.
For example, starting off the journey by giving some basic information about your company’s expertise. In the next email, highlighting and explaining how your company helped solve a prospect’s problem which aligns with the recipient’s pain point. Only after sending these introductory emails can you make the recipient feel that they might need you as their solution too for their problem.
Sending valuable informational content instead of just promotional emails helps embark on a journey wherein the receiver looks forward to receiving emails from you because they can feel that you want to be the solution to their problem and they trust you with it. Such relationship building efforts land you with your sale because you have built loyalty by investing in the time and efforts with your prospect that they now feel comfortable enough to converting the relationship into a sale.
Email Marketing Encourages Timely Action
Email marketing encourages impulse buying. It focuses on enticing the recipient into purchasing the product/services just in time in a few ways:
- By listing complementing products that may be suitable for a supercharge for your current purchase
- By listing similar products that they may want to buy
- By showing the most trending purchases right there
- By giving out special offers or discounts on the customer’s future buys
- By showing cart abandonment products that they earlier liked and giving them exclusive offers valid for some time
Some of these ways excite the recipient if these emails are sent at the right time. The timing of the emails really plays an important part as it can either make it or break it for you.
If an exclusive offer for a product that your prospect has been eyeing is not sent at the right time, it will not convert into a sale and your effort goes into waste. However, if that particular offer email makes it to the inbox when the recipient is in need of your product, that’s a win-win situation for you and your prospect. Such emails lead to instant conversions as these emails leave the prospect feeling happy and satisfied.
So, as mentioned above, these were some of the reasons why email marketing is so important for better conversions. Conversion is basically triggering the prospect into taking action where they feel that your company is with them and holds their best interest at heart. It’s a long drawn process but email marketing makes that happen.
Apart from being a conversion tool, there are many other hidden benefits of email marketing too such as it is cost-effective and economical, has a wide reach, focused on building authority and brand recognition as well. It has both quantitative and qualitative benefits that make it such a strengthened tool in the industry.
Conclusion
The industry is filled with clutter and noise from all the directions but email marketing still manages to cut through the noise and turn those leads into sales effectively. Email marketing is a powerful tool that retargets lost prospects, focuses on personalizing needs and customizing accordingly, segments leads and builds a relationship with them while enticing them into taking timely action. It is a versatile tool that aims to cater to the organization’s ultimate aim while keeping in mind the importance of customer journey as well.
The key with emails is to start slow but start strong. Educate your customers, give them the content you think that they would need, nurture them, take care of them at all stages and make your way forward by catering to your customer’s needs through email marketing. Make them believe that you are there with them from making up their mind to processing that transaction.
Email marketing holds the potential for you to target those sales figures you always dreamed of. It is never too late. Put the power of your knowledge into action by creating the best email marketing campaigns and see your dreams converting!
Go get going!