With 2022 close to an end, are you planning your marketing and client retention budget for 2023 yet? Make sure you include email marketing in your budget. Not sure if you want to tie up resources in email marketing? Here’s what you need to know.
Small businesses are reaping the maximum benefits of email marketing, as 64.1% of them rely on email campaigns. In fact, they tend to rely on direct mail more than they do Instagram and Twitter. Additionally, 70% of businesses have enhanced their email-marketing load, given that the average open rate of emails stands at a good 21.33% globally. Across all digital media, emails enjoy the highest click-through rate, with an average of around 2.62%. Moreover, 73% of millennials prefer email as a mode of promotional communication. The ROI for email marketing is 4,400%, the highest for any mode of promotional marketing.
Why Email Marketing Will Continue to Rule
The above numbers are set to continue to grow throughout 2023 and into 2025. The reasons why email campaigns will rule B2B and B2C marketing strategies, especially for brokers, include:
- Cost Efficiency – Marketing costs for advertisements and media spaces are quite high, making emails much more cost-effective.
- Permissioned – Allows recipients to receive updates when they actually want (as they can open mails as and when they want) and even unsubscribe if they wish to.
- Content Flexibility – Email content is not restricted to any particular form or size. Businesses can experiment and gauge what fits their needs best.
- Measurable – Email marketing can be targeted through metrics such as opening rate, click-through rate, conversion rate, repeat/new visitor frequency, and more.
- calable – Expansion of readership and hence the customer base adds zero costs to the email marketing campaign.
- Real-time Marketing – Through action-based triggers like recent activity, page visits, cart abandonment, etc., appropriate follow-ups can be planned.
- Build a Brand Voice – Well-curated mails, personalised to the recipient can help brokers build their brand image.
How to Maximise Success of Email Campaigns
Although email marketing is one of the most trusted forms of marketing; message segmentation, personalisation and timeliness of emails is a complex task. If you’re planning to do all of this in-house, it could tie up your resources without ensuring good ROI. Plus, as a broker, you would want to keep customers across the world engaged with regular updates on products and offers, and the latest market analysis, while reaching out to existing and prospective clients in their preferred language.
With a powerful email platform, you can reach out to traders of different trading styles and interests, across different time zones and in multiple languages via the automated creation and distribution of emails. You can even schedule distribution based on the time you deem most appropriate for different regions. Customer segmentation is eased so that the email content can be personalised based on the assets being traded or the trader’s experience level.
Automation tools are loaded with features like drag and drop, pre-schedulers, automated email generators, grammar checks and more, and can help you effortlessly implement an effective email marketing campaign.
When one combines marketing automation tools with content providers like Autochartist, your content automation costs a fraction of the expense of hiring your own team of content creators.