Making the Business Case for Email Marketing
Thinking about starting an electronic newsletter or email marketing program, but aren’t quite sure what results you can expect from this time investment? According to industry experts, a well designed and implemented email marketing program can:
- Increase customer retention; a 5% increase in retention yields profit increases of 25% to 100%
- Stimulate repeat business from existing clients who spend, on average, 67% more than new customers
- Influence purchase decisions; according to 53% of consumers surveyed
- Strengthen customer loyalty; acquiring a new customer can cost 5 times more than keeping a current one.
For the small business or “solo-preneur”, the combination of a content-rich website and a consistent, quality email marketing program is the foundation of your marketing engine and is the boxing equivalent of a “knock-out two-punch”. Your search engine optimized website with a prominently displayed newsletter signup box can draw in new business prospects, automate your newsletter subscription process, and cultivate those same prospects with an ezine loaded with valuable content that positions you as an expert in your field. Let your marketing engine work for you while you are focused on other, high value business tasks…or playing golf…whatever!
With all the buzz about driving increased website traffic, one fact remains undisputed. A good email marketing program remains the number one way to drive traffic to your website. And we all want visitors coming to our sites and staying awhile, reading about our products and services and the great benefits enjoyed by our customers as a result of doing business with us. But another great feature of website traffic coming into our sites from external links is that the search engines place high value on external linking in their search rankings.
So, my advice to you is – stop thinking about starting an email marketing campaign and just go do it! The positive impact it will have on your business will far outweigh the cost of creating and implementing your program.