In this day and age where we rely so much on video calls and instant messaging, it’s hard to imagine that there was ever a time when communication through long distances was tedious and difficult. And because the rise in video consumption across the internet has skyrocketed, it’s often hard to see the value in email anymore.
And yet, email’s value has actually increased over time despite the proliferation of various social media platforms. In fact, did you know that there are over 4 billion email users to date? That’s more than half the people on the entire planet, and about a billion more than Facebook’s 2.98 billion monthly active users. What’s more, that number is only expected to rise to 4.6 billion by 2025.
Email VS Social Media
Social media platforms often employ algorithms that determine which content reaches users’ feeds. This algorithmic limitation can significantly impact the visibility of your posts, making it difficult to reach your target audience organically.
With an email list, you bypass these algorithmic limitations. Your message reaches the intended recipients without being subject to the whims of an algorithm. This level of control allows you to deliver your content directly to your subscribers, increasing the likelihood of engagement and conversion.
In fact, when it comes to email, at least 84.3% of consumers say that they check their inbox every day (oftentimes more than once a day). This can be for various reasons. But when you compare users and consumers who check their email versus those that check their social media, the psychology and mindsets involved are vastly different.
Generally, when someone checks their social media, they’re there for one of three reasons:
- To check in or stay in touch with family and friends
- To fill in spare time
- To get updated on the latest news
Someone checking their email, on the other hand, often does so for more work-related or task-related items. This means that they’re in a state that’s not primarily focused on leisure.
This is why email marketing is still one of the most valuable digital marketing methods and strategies that every business should continue to leverage.
What is the Value in Building An Email List, Really?
When it comes to the value of building an email list, the numbers speak for themselves. Let’s dive into some compelling statistics that highlight the significant impact email marketing can have on your business’s success.
1. Email Marketing Drives Sales
One striking study revealed that 59% of respondents say that marketing emails have influenced their purchases. This emphasizes the persuasive impact of email marketing on consumer behavior. By leveraging the power of persuasive copy, personalized recommendations, and timely promotions, you can guide your subscribers towards making informed purchasing decisions.
In fact, did you know that 50% of people buy from marketing emails at least once per month? This means that if you can get enough email subscribers that are genuinely interested in the content and offers that you send them via email, then you’re more likely to generate repeat business without having to rely on and spend for online advertising.
That alone can save you a huge amount in ad spend while at the same time generate significant revenue.
2. Email Marketing Can Win Back Lost Sales
Abandoned cart emails are a prime example of how email marketing can deliver tangible results. Did you know that the simple act of sending emails to customers who have abandoned their carts can help you to finalize that sale?
In fact, sending three abandoned cart emails has been shown to result in 69% more orders compared to sending just a single email. Compared to paying for ads to target users that abandoned their carts, your ROI on emails is much higher.
This statistic showcases the effectiveness of email campaigns in re-engaging potential customers who have shown interest in your products or services but haven’t completed their purchase. With strategic email automation, you can recover lost sales and boost your revenue significantly.
3. High Return on Investment
Finally, and most importantly, are you aware that for every $1 you spend on email marketing, you can expect an average return of $40?
Unlike other marketing channels that require substantial financial investments, email marketing offers a cost-effective solution with an impressive potential for generating revenue.
A simple glance at your PPC or Facebook ad campaigns, after all, can reveal that while paid advertising is indeed effective at driving traffic and sales for your business, they could never be as powerful as slowly building and nurturing an email list.
Building an Email List Increases Another Important Measurement of Value: Trust
In the dynamic and competitive online world, trust and authority hold immense value. They are considered valuable “currency” that can significantly impact your business’s success.
Building an email list plays a crucial role in fostering trust and security, ultimately increasing your business’s authority. Let’s delve into why trust is essential and explore how an email list can help you cultivate it, leading to increased sales and authority.
It’s The Firmest Foundation
Trust and authority form the foundation of successful businesses and are integral to generating sales and fostering long-term customer relationships. Without trust, potential customers may hesitate to engage with your brand, making it difficult to convert leads into paying customers.
Consider a scenario where a customer is browsing two online stores, both offering similar products at competitive prices. However, one of the stores has a strong brand presence, positive customer reviews, and an engaging email newsletter.
The other store lacks a credible online presence and offers no means of direct communication. In this scenario, the store with an established email list and trusted reputation is more likely to gain the customer’s trust and secure the sale.
The Link Between Trust and Sales Generation
Trust is the linchpin that drives sales and sustains customer relationships. When customers trust your brand, they are more likely to make purchasing decisions with confidence.
Building an email list contributes to this process by nurturing relationships, showcasing expertise, and providing a secure and reliable channel for communication.
By consistently delivering value through email campaigns, you cultivate trust and establish yourself as a reliable authority in your industry. When your subscribers trust your brand and perceive you as an expert, they are more inclined to make purchases from you. This trust translates into higher conversion rates and increased customer loyalty.
Establishing Trust through Email Lists
An email list provides a powerful tool to establish trust with your audience. By obtaining permission to enter their personal inboxes, you create a direct line of communication that fosters a sense of security and exclusivity.
Here’s how building an email list contributes to increasing trust and authority:
1. Trust through Personalized Communication
With an email list, you can craft personalized messages tailored to individual subscribers. Addressing them by name and delivering content that resonates with their interests and pain points demonstrates a high level of attention and care. Personalization enhances the trust-building process, as subscribers feel valued and understood.
For example, an online skincare brand can send personalized emails to their subscribers, recommending products based on their specific skin concerns. By acknowledging their unique needs and providing tailored solutions, the brand builds trust, positioning itself as an authority in the skincare industry.
2. Establishing Expertise By Delivering Value
Building an email list allows you to consistently deliver valuable content to your subscribers. Whether it’s informative newsletters, exclusive promotions, or expert insights, providing consistent value establishes your credibility and expertise.
By consistently demonstrating your industry knowledge and commitment to customer satisfaction, you instill confidence and trust in your audience.
For instance, a marketing agency can send regular emails featuring actionable tips, case studies, and success stories to their subscribers. By sharing valuable expertise and showcasing real-life results, the agency establishes itself as a trusted authority in the field, positioning its services as reliable and effective.
There’s Still Nothing Quite Like Building an Email List
In the ever-evolving landscape of digital marketing, the value of building an email list remains undeniable. While paid ads, PPC campaigns, and social media marketing have their merits, they often fall short in comparison to the unique benefits offered by email marketing.
Consider again the power of abandoned cart emails, which result in 69% more orders when sent strategically, or the fact that email marketing boasts an impressive average return on investment (ROI) of $40 for every $1 spent.
These examples highlight the monetary value of an email list and its potential to drive sales and revenue. The ability to reach customers directly in their inboxes and deliver targeted, personalized messages creates an unmatched opportunity to engage and convert leads into loyal customers.
Beyond the financial impact, though, building an email list offers the invaluable benefit of nurturing trust and authority.
Remember, trust and authority are the pillars that underpin successful businesses in the digital realm. While other marketing channels may provide initial visibility and reach, they often lack the depth and personalization that email marketing offers. By prioritizing the development of your email list, you establish a reliable and secure channel for communication, cultivate trust, and position yourself as a trusted authority in your industry.
There is power in a personal message delivered straight to one’s inbox. So if you haven’t yet, then start building your email list today and watch your business thrive despite the ever-evolving digital landscape.