Why Email Marketing Is The Most Lucrative Way To Monetize Traffic
Marketers have the responsibility to get the most out of every digital asset and generate more business in any way possible. A smart marketer is always on the look out for relevant and profound marketing channels through which they can acquire more customers with maximum ROI.
There are dozens of digital marketing channels through which marketers are doing just that. Here is the list of paid and organic marketing channels through which you can generate more sales.
Paid mediums
- Display Ads
- Banner Ads
- Search Ads
- Social media ads
Organic mediums
- Social media management
- Social media marketing
- Search engine optimization
- Email marketing
- Cold calling
If we were to consider only social media, the ad spend has grown by more than 35% YOY in Q2 of 2018 for Facebook and 177% for Instagram. (Source) This might conclude that advertisers are willing to pay more money that makes the whole platform expensive and competitive.
Out of each, Email marketing is a way of generating goal-oriented marketing and advertising activities to get more brand exposure, website traffic and sales for your business. Here are the reasons why email marketing is the most profitable way to monetize your traffic.
Email marketing is cheaper.
There are tons of ways through which you can monetize traffic. Social media, search engine optimization, videos, PPC are some of those platforms that allow you to grow your audience and bring more people onto your website.
Even though you have keywords to target the ideal prospects for your website, there is no guarantee of who exactly would see and interact with your ad which in turngives you less ROI for your marketing efforts. On the other hand, email is an ideal platform because you would know precisely whom you are interacting with. Based on the way you have received the email address, you can anticipate the expectation and the buyer persona, which makes the whole effort cost effective.
On social media platforms, you will need tools, time and resources who can constructively engage in finding ideas, writing copy and doing organic or paid promotion of your social media posts.
These methods have high demands compared to email marketing where you don’t have to worry about your buyer’s journey because you would already know whom you are contacting through the email id. Moreover, email mitigates the process of anticipating buyers’ mindset. You can invest your resources into automating, writing and sending relevant emails to the prospects.
Email marketing is highly customizable.
People who are seeing you online would undoubtedly appreciate it if your posts incite a connection and give them a strong reason to click to your ads.
To ensure maximum conversion, a marketer must know as the precise information of the prospects and as already discussed, on social media, SEO, and PPC; you can only anticipate the people who will see your website in SERP or on social media timeline respectively.
In social media and SEO, you are communicating on the one-to-many communication channels. Your post will be ready by mass and various type of audiences of whom you have no precise information. However, email would allow you to establish a one-to-one conversation with the prospects.
Thanks to segmentation, you will have complete control over who sees your emails and how they would see it. You can send personalized emails to your prospects with their name on the headline and body. Personalized emails can improve CTR by 14% and conversion by 10%.Through segmentation, you can group specific email addresses of people who share the same criteria. It will help you personalize your emails to those prospects to get maximum conversions and sales.
You can deliver more relevant emails to the prospects who share similar interest and buyers’ intent, and it will be not just be cost effective but also remarkable in ROI generation. Segmented email marketing campaigns have a 760% increase in revenue. As a part of personalization, you can also include recipient names in the subject line and email body. It is an excellent way to give a personalized touch and make your prospect feel that a particular email is written for them only.
Right from not having who is seeing your social media post or search engine ranking, to contacting them through personalization directly.Suchflexibility is a catalyst in generating great sales for a business. Emails with personalized subject lines are 20% more likely to be opened.
Look professional and sophisticated.
Emails can help you stand out by the way they are constructed. Unlike social media and search engine results, an email follows a template where you will put your content, email copy, etc. You can also place your company logo, contact details, and email signature to give your brand humanized and professional appearance at the end.
However, do not expect to place your phone number, email address and name on all social media post and search engine results. While in an email address, the basic psyche of the existing of email would allow your brand to provide certain information, which you cannot do otherwise. The people who consume email, social media or search engines have different routines and priorities in their work and personal life. Emails are more sophisticated and sincere unlike social media and search used for refreshment or research purpose.
Emails have a higher reach.
Because Google entertains 3.5 billion search queries a day and Facebook has 2.2 billion users at the moment, these platforms look like they have the potential to target more people. However, that’s not a reality.
At the start of 2019, there was a total of 3.8 billion email accounts found on the web. As far as the numbers’ game is concerned, email is leading the way. Whatever you do on the internet, you cannot sustain your identity without an active email address.
If you wish to register an account or log in to a website, you cannot go ahead without giving your email address and then confirming it. The email account is like your digital identity proof that you have to show to utilize the internet.
So anyone, who accesses any social media channel, uses an online tool or purchases a service, could not have done that without an email address. Hence, it is evident that email has the highest customer reach and most loyal user base compared to other online streams.
Emails have higher conversions.
All your marketing, sales and support activities should be aligned with a single approach, i.e. driving more conversions to business. If you are rigorously doing paid and organic marketing and there is no positive sign for conversions or ROI, you should rethink your entire game of advertising.
The conversions can help you identify how your campaign is performing, how your users are interacting and how many sales you are generating. Conversions are like a reality check of how your anticipation is working in the real world.
To bring more conversions, your prospects must see your website or post in the first place. In social media, your post should be able to grab people’s attention and make them click your link. In SEO, your website should appear credible enough to make people click on the result.
Hence, if your posts or ads are not excellent in your particular vertical, they might get lost in the series of other social media posts. Also in the SERP, if you are not able to rank in the first 10 results, users might not even find you exist. So, the harsh reality is they won’t come to your website with buying intent.
On the other hand, emails are checked by 99% of users every day. 80% of companies also believe that emails are the perfect medium to retain a customer because customers find the email a trustworthy and valid resource to navigate their purchase decisions.
Emails have a good ROI
As per eConsultancy’s report, 24% of companies believe that email marketing is an excellent platform when it comes to return-on-investment. To be precise, 59% of business owners have believed email is the most significant source of return-on-investment.
Moreover, as per a study, for every 1 pound, the return is 33 pounds and for every 1 USD, the return is 44 USD. Such a whopping sales generation gives you the idea of how profitable email marketing is.
Once you get an idea of how to monetize your traffic through email marketing, you won’t find any other profitable marketing channel to do so. The idea here is to get more conversions and spend lesser in doing so. Email marketing is a great platform.
The other metrics like open-rate and click-through-rate also give out how interactive emails are to the users.
Emails have dynamic availability.
Emails are stored in your inbox, and you can read, forward, respond or delete them as per your convenience. Unlike traditional connectivity like a telephone where your users have to attend the calls at the time they receive it, emails can be there for life and users can access them as per their convenience. Compared to social media posts, the availability of posts is authentic and quick.
If the users want to see a particular social media post, they have to search on the platform, profiles or hashtag and dig deep throughout the thousands of other social media posts to find what they have been looking for.
In articles too, they have to keep a set of bookmarks to come back and read the landing page. However, when it comes to email, your users will access them anytime and anywhere without worrying about anything.
They can access them through a laptop, smartphone, desktop, tablet, etc. 24x7x365 availability is given to your prospects through emails.
Email marketing is timesaving.
Thanks to marketing automation software, you can also schedule your emails so that they would be sent automatically to your respective prospects while you might be busy working on other important priority tasks. You won’t miss a single chance to monetize your traffic if you are using email automation. Email automation leads the race of channels that use marketing automation.
Compared to social media, where you have to post regularly and genuinely without seeming too pushy and spammy to your readers, email can give you the leading edge of scheduling and forget about the deliverability.
Compared to search engine optimization, where you will keep having to hustle for ranking and managing the technicalities of your website, email marketing will save your time, and you can indulge in more productive work like designing your emailers, writing more profound and persuasive copy to educate your users and so on. Your funds and energies can be utilized adequately if you smartly use email marketing for your business.
Email is a preferred medium of your prospects.
Without email, all the corporate functions will go on hold and jeopardize the whole world, so to speak. Even though more and more communication channels are mushrooming by the minute, email still holds a majority part in dominating the professional communication. As per research by HubSpot, 86% of professionals prefer emails for business communications and more than 70% of millennials would like to get connected through email for professional interactions.
People would prefer getting promotional emails once in a while because it will help them get notified if there is a new offer, discount or news about the industry and they should know about the same. As per a fact, around 30% of consumers wish to receive promotional emails.
Conclusion
Just like all the marketing platforms, email marketing will require time and research from your part to master it. You will be able to achieve results and monetize your traffic through email marketing. However, you will have to brainstorm and research how you can use email marketing for your business.
A technique that worked for a business might not be relevant for your prospects. If you have discovered an idea to monetize your traffic through email, share your journey with us, so others can also learn from your journey and have their own hustle to find the right idea for them. If you know any other reason why email marketing has worked for you or you think will be best suited for you, share your views in the comments.