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Tuesday, July 10, 2018
Why Email Remains the #1 Marketing Channel
Email is still the top revenue generator compare to all other channels:
For every $1 you put into email marketing, you can expect to get $40 back in revenue. Some estimate that number to be as high as $44 for every dollar you spend. That sounds like a lot because it is a lot. Especially when you compare it to other alternative channels you could invest in.
It might be easy and straightforward to measure the ROI you’ve gained through PPC campaigns. You can see money spent and money returned. But that doesn’t mean that your PPC campaigns are giving you the best ROI.
When it comes to profitability, email campaigns are clearly blowing PPC (and all the other marketing channels) out of the water!
Email campaigns are cost-effective:
Email campaigns have a relatively low barrier to entry compared to other alternatives.
Let’s break down the costs:
First, you’ll want to be on a platform that allows you to eventually A/B test campaigns and all of that good stuff.
All in all, you can definitely set up a decent money-making email campaign with much less than a $500 budget. A single influencer marketing campaign, in comparison, might cost you several times. It’s possible to pay a micro-influencer a few hundred bucks to give your product a shoutout on Instagram. But those also contain almost zero longevity.
Let’s say you’re getting your influencer to link to your landing page in their Instagram bio.
Once your influencer posts, their followers read the call to action in the caption and go to said influencer’s profile so that they can check out your campaign page.
All’s fine and dandy… until your influencer posts their next #sponsoredad and updates the link in their profile.
Poof! The link to your landing page disappears.
So, which would you rather: spend $500 to have legitimate leads you can email over and over and over again? Or spend $500 on a single Instagram post and a link that will probably vanish into thin air in a matter of days?
It’s your call!
Nurturing leads through email campaigns can make them ready to buy:
The average conversion rate is a mere 1-2%. So, if your leads aren’t ready to buy right away, you need to nurture them. Which is where email comes in.
New leads should get one message, people who’ve viewed a product without purchasing should get a different one, and loyal customers still a different one.
Conclusion on email campaigns (and why they are the best):
By this point, it’s crystal clear that we’re #EmailFamily.
Of course, emails aren’t the be-all and end-all. You shouldn’t ditch all your other marketing channels to focus solely on emails. There are pros and cons to each marketing channel. The best marketing strategies are comprehensive and tap into the strengths of various channels.
Having said that, if you’re a small company with limited resources, email marketing allows you to get more with less.
More leads and a better response rate for a lower cost out of pocket, and less work overall.