As businesses continue to slash their marketing budgets, it is important to remember that removing advertising and marketing completely is not a good idea if you want to stay in business.
Email marketing offers many advantages over other types of advertising.
Advantages
You can target your audience at a lower cost than, for example, print ads. Email is also a less expensive option than mass mailing.
It is easier to track your email marketing ROI (return on investment) than with other forms of advertising.
You can bring your message to the customer, instead of having to wait for them to pick up a magazine or visit a website in order to see your ad.
High Email Marketing ROI
According to a study done by Direct Marketing Association in 2007, advertisers achieved an ROI of $48.34 for every dollar spent.
While that figure is expected to decline slightly in 2008 to $45.06, it is still a much better investment than some other forms of advertising including catalogs which had an ROI of just over $7.00 in 2007.
Because email marketing ROI is so high and the cost for it remains relatively low, it is a good choice even for businesses that are cutting back on their marketing budget. Still, email marketing does have some disadvantages to consider.
Disadvantages
Some email marketing messages will still go straight into the SPAM folder. Email users may lump your message in with SPAM, even though it is legitimate marketing material.
Even considering the above disadvantages, the ROI is still high, so email marketing should still remain a candidate for at least part of your marketing budget.
Opt-In
One way to overcome some of the disadvantages is to choose opt-in email marketing campaigns.
This is where the customer must consent to receive your emails. This usually eliminates your message going straight to a SPAM folder.
It also helps ensure that the recipient is at least minimally familiar with your business.
Reach Existing Customers
Even if you decide that email marketing is not a good choice for reaching new customers, it is surely a good choice for staying in contact with existing customers.
Because they are familiar with your business, they are more likely to open the email. To keep them reading, be sure to include information that is truly valuable.
A message filled with fluff might be cheaper and easier to produce, but the existing customer is not going to keep opening your emails unless there is something of value for them in the message.
When all things are considered, email marketing is a perfect choice for some businesses that are cutting their advertising and marketing budgets, but still want to get their messages out.
Email marketing is a low-cost solution with a higher ROI than other forms of marketing.
Don’t let the disadvantages stop you. ALL forms of marketing will have a list of advantages and disadvantages, so focus on the advantages and give this form of marketing a try.
