Email marketing is the use of electronic mail to promote a product or service. Unlike spam, email marketing is sending messages to recipients who have opted-in or agreed to receive emails from your company. This is the cardinal rule of email marketing. If they do not clearly sign up for your email list you do not have the right to email them.
The purpose of email marketing is to build trust and a one to one relationship with customers.
The three big advantages of email marketing are cost-effectiveness, simplicity and reach.
Email marketing is the most effective channel to drive ROI. If done right every $1 spent in email marketing can generate $38 in ROI, outperforming other marketing channels. (1).
It’s extremely easy to set up and track email marketing campaigns.
There are more email accounts than there are Facebook and Twitter accounts combined (2). So, there is no channel with a wider reach than email.
Email marketing is constantly evolving and growing in its size and value:
- The global market for email marketing is estimated to rise from $4.5 billion in 2016 to $22 billion in 2025 (3);
- E-mail advertising spending in the U.S. is expected to increase from $270 million in 2015 to $350 million in 2019 (4).
In 2012 Sony launched an email campaign to up-sell the PlayStation Vita to those who were subscribed to them or who owned a PS3 and were a part of the PlayStation Network. The email reached over 4.2 million people and achieved ROI of an estimated 508%.
Building an email list is a stable long-term investment that will pay off for many years to come.
Make sure you grow this skill because it is extremely valuable.