Jide’s marketing budget has been cut by 50% by his management. He had planned to invest in several marketing channels to increase his sales by 30% in the coming year. He planned to go to radio, use email marketing, print out flyers, participate at trade shows and invest in online advertising for his computer firm. Now he has to rethink and re-strategize his entire marketing plan for the coming year.
Reducing his sales projections is not an option for Jide. He has to find a way to work with the low budget approved by his management and still deliver exceptionally.
Marketers and sales executives face the challenge of working with a low budget and yet performing very well. This forces marketers to decide on which marketing channel to employ based on the Return on Investment each channel provides.
Email marketing provides the highest ROI for digital marketers. For every $1 spent, you get an average of $40 back according to Direct Marketing Association.
Here are 3 reasons, backed by statistics why you should decide on investing in email marketing.
For Business to Business marketers, generating leads that will eventually convert to customers is their top priority. And according to DMNews, the three most common lead generation strategies are: email marketing (78%), event marketing (73%) and content marketing. (67%).
A stockbroking firm started a blog that addresses common questions individuals ask about investing and educates the public of economic news. On their blog, the firm asks readers to either subscribe to their newsletter and get more insightful investment information, or subscribe to speak with a consultant for free investment advice.
This technique has been effective in helping the firm generate enough leads its sales team can easily close, since most of the leads already have an interest in investment.
Lead nurturing involves building a relationship with a prospective buyer and focuses on providing adequate information and answers to the buyer. Not all leads are ready to make a purchase or even speak with a sales representative. In fact, only 25% of leads are ready to advance to communicating with a sales rep according to Gleanster Research.
Nurturing your leads often will help your business convert more leads to customers. That’s not all, the Annuitas Group reports that nurtured leads make 47% larger purchases than non-nurtured leads.
Rita works with an NGO that is responsible for raising funds for cancer patients. Every week, she touches prospective donors with emails that show how the donor could make an impact in the lives of families under the NGO. With this tactic, she has seen an increase in donations to her NGO and donors go on to donate generously.
Email marketing is 40 times more effective at acquiring customers than the world’s largest social networks – Facebook and Twitter. Whenever Loveth, a Spa owner needs to pick up sales, she sends out a promotional email campaign with an offer. She’s either giving a discount to customers, giving a free service for every purchase or providing a free product for every service purchase.
Email marketing is an effective tool available to marketers for generating sales, building relationships and establishing industry authority.
Leverage on ConnectNigeria’s massive email list and increase your sales. Email email@example.com to start.
About the Author: Mason Frederick Chegwe is an intelligent business developer committed to building brands customers love. He provides practical tips you can use to achieve your marketing and sales goals. Connect with him on Twitter and LinkedIn