Why It Is Essential To Have An Email Marketing Strategy for Your Small Business

Even in 2024, the value of a potential customer's email address is (im)measurable for a small business! 

TLDR:

Here's why it is essential to have an Email Marketing Strategy for your small business:

• customers want to hear from you

• the competition isn't engaging them either

• the potential ROI translates to real profits

• invaluable data acquisition helps you reach your customers more authentically

• the tools available make it easier than ever to design dynamic email templates that keep your customers clicking for more!

More effective than social media or paid advertising, a customer's email address translates to trust in the business by the consumer. 

It says, “I opt in” to your brand, your business, and your product.

But shockingly, 66% of brands today are still not deploying email into their content marketing strategy, despite the fact that email marketing has a median ROI of 122% over social media, direct mail, and paid search. (DMA/DM via eMarketer) 

Many small business owners feel they lack the resources to invest in email marketing, as with their content marketing strategy as a whole. But studies have shown that just by investing a minimum of 10% of your sales revenue into your content marketing strategy, you are likely to bring in $40 for every $1 spent with email alone! (Smart Insights)

But the key word to all of this is “strategy.” 

Without an outlined intention— without a measurable objective and purpose— your email marketing campaigns, and your content marketing efforts are not going to produce the favorable outcomes you’re reading about.

Why do so many businesses feel that they are wasting money on their email marketing?

Likely, its because they haven't built a strategy.

In most cases, businesses are sending a general newsletter to their entire subscriber list, updating them on sales or events on a monthly basis.

There's no strategy there.

There's no media to watch, buttons to click, products to buy, or incentive to care.

There's no data being collected, and so businesses aren't learning about their customers, and understanding them or creating content that resonates with them.

An email newsletter is not an Email Marketing Strategy.

So what is an email marketing strategy?

Most businesses report that the primary objectives of their email campaigns are to:

• increase sales (62%), 

• engagement (50%), 

• brand awareness (47%), 

• and to build loyalty (45%). (Mailchimp)

But also, data acquisition. 

The best way to understand your customers is to understand how they are engaged with your brand.

The email objectives listed above are analyzed by the data provided by your subscribers when they open an email, click on any asset within the email, and what that asset says about their motivations.

How does this increase my sales?

Email is still the most powerful and direct way to reach your potential customers, performing much better than social media (McKinsey & Company). Email is more effective at announcing sales, giveaways, or inspiring engagement than social media. 

But sales, ultimately, is why you’re in business, whether its for a product, or a service you provide.

By sending an email to notify your subscribers about new products, events, sales and discounts, or to remind them of an abandoned cart, you are likely to increase your sales. With an effective Call to Action, these notification emails will convert into a click to your website, product page, or abandoned cart. 

When you share other relevant content with your subscribers, you continue to build a relationship of trust and community, making your subscribers more likely to open your emails, buy during a sale, and engage with your brand elsewhere on the internet.

The greatest part is that it doesn't have to complicated, or difficult, or time consuming.

The Tools Are More Advanced Than Ever.

Because of tools like Email Automation, strategic Drip Campaigns, and Email Segmentation, the buying process happens 3x faster with email marketing than with social media (McKinsey & Company).

The more relevant your emails are to your individual subscribers, the more likely you are to gain their interest, their trust, and their loyalty, which eventually leads to repeat sales. 

Many of today's Email Marketing Systems have built-in automated Abandoned Cart emails, or suggest AI-generated text and interactive buttons to create more clicks from your subscribers with every email template created. They have image editors built into their platforms, and the most advanced abilities to segment your subscriber emails into any campaign you can think of.

But so many small businesses are still failing to invest in their email marketing, which means they aren't taking advantage of these incredible tools available to meet their sales goals.

What they are lacking is a strategy, and motivation.

But they are not You.

By prioritizing your Email Marketing Strategy, using the built-in, highly effective tools available to you to create a profit-building email campaign driving traffic and sales through your website you are already doing WAY more than 66% of your competition.

That's an empowering notion, isn't it?

2/3s of your local competition isn't doing anything to connect with their customers.

So what can you do to connect with yours?

Check out our eCourse, How to Build an Email Campaign That Converts, and gain access to video tutorials, templates and checklists, and discover new ways to engage your subscribers.

Click here any time to schedule a FREE Consultation with a Rising Mountain Content Strategist.

Also, be sure to check out Your Compass, our full library of resources designed to empower you or your team to DIY your mountain of content.