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Suppose any brand or company, puts up a hoarding for their product/service or telecasts a television commercial, there is no guarantee as to what percentage of the target audience has been exposed to the message. In addition, the cost of marketing in these media channels is very high.
In such a situation, email marketing comes to the rescue. Email Marketing is a boon for the companies and brands where the concerned brand or company will send out commercial emails to those customers who have already provided their email addresses and have agreed to receive emails from the said company.
Email Marketing can be said to have a three-fold function: promote the product or service, disseminate information, and build a community for the brand or the company.
SIGNIFICANCE OF EMAIL MARKETING
Compared to some other platforms such as social media, email isn’t that new a player in the arena of digital marketing. It can perhaps be endowed with the status of spearheading digital communications and marketing.
This almost half-a-decade-old technology of email marketing has newfound significance and importance in today’s exponentially increasing digital world.
The following points highlight the significance of Email Marketing in 2021 and the significance parallelly also reveals why Email Marketing is so widespread nowadays.
Email Marketing is an excellent vehicle for any brand or company to use for promotion, be it for the launch of a new product or announcement of any sales or events. Since the company or the brand can target the audience better with specific email addresses, email marketing leads to higher returns, in terms of sales.
Email Marketing is one of the best tools to build brand image and generate awareness. Since, companies or brands curate a list of email addresses of the customers, this technique of marketing provides a platform that facilitates customized messages through one-to-one communication via emails. Emails from specific brands or companies also double as a reminder tool which helps the customers keep the brand/company name at the top of their minds.
This feature of email marketing is one of the contributing factors to its growing significance. Since emails can be sent to many individuals for a low price, email marketing is quickly gaining ground in the world of marketing.
Email Marketing also enables the brand or the company to help and guide the customers through each stage of the buying behavior, ranging from nurturing to retention, in regards to the brand/company and the product or service it provides.
Newsletters, that arrive in the inbox of the customers, every week or monthly, or fortnightly, keep them hooked to the content and consequently, build brand loyalty.
Email Marketing provides accessibility, in terms of both the stakeholders. Most of the population, irrespective of age, gender, geographic location, or any other criteria, have access to emails. The companies or brands, on the other hand, can access a narrower and more specific target audience, as per the demand, and has an extensive reach, in terms of customers in general.
Email marketing is cost-effective and more affordable than the rest of its media counterparts such as newspapers, television, etc. Most email tools i.e the software that companies and brands purchase offer plans at a very low price, sometimes including free beginner plans as well. Just a blend of the right Email Service Provider (ESP), an email list, and a proper email message produce the perfect email marketing campaign.
TRACKING AND INFERENTIAL FEEDBACK-
The company or brand can keep track of whom the emails are being sent out to if it has been clicked on and opened. Thus, email marketing provides for great tracking mechanism.
The company/brand can infer feedback from the open rates of the emails and subsequent behavior of the customers. For example – low click and open rates would signify that the email isn’t that appealing and the brand has to work more on it to make it engaging and attractive. By comparing the percentage of open rates and the buying of the product/service, the company/brand can determine how effective their email marketing was and change it accordingly.
Thus, Email Marketing is one of the best tools that a company/brand can use by investing less but gaining huge profit. Link