Have you ever wondered what the big deal is with email marketing and newsletters? Why should you bother? After all, you’re getting ‘Likes’ and shares on social media. You get referrals from customers and friends.
Here’s why you should do it:
- Email is 40% better at converting (in comparison to Facebook and Twitter)
- Marketing emails influence the buying decision of 50.7% of customers.
- 61% of customers want to receive promotional emails every week
- 37% of business owners say email is the most effective channel for customer loyalty and retention
Let’s talk about retention for a minute. Here are some stats about getting and keeping customers:
- Acquiring a new customer can cost five times more than retaining an existing customer.
- Increasing customer retention by 5% can increase profits from 25-95%.
- The success rate of selling to a customer you already have is 60-70%, while the success rate of selling to a new customer is 5-20%.
Source: Outbound Engine
Email marketing is a perfect way to stay connected to customers you already have.
We talked more about using newsletters to stay on customers’ and potential customers’ radar in Episode 2.
- It isn’t hard to get started (or re-start)
- It’s free (or low cost)
61% of customers would like to receive promotional emails every week! (So, give the people what they want!)
Learn why & how to start email marketing for your business