Of course you would make that trade. That is the average for email marketing according to Email Expert. How about this: 4300% ROI? Who wouldn’t want that kind of return on investment? That figure comes from McKinsey and Company.
Or this: Conversion rates that are three times higher than social media with a 17% higher value per conversion? That’s what Hubspot reports. Those three figures are about email marketing. Here’s one more: Companies that use emails to nurture leads say that email generates 50% more sales ready leads at 33% lower cost. That’s according to the Direct Marketing Association.
Four sources, one conclusion – email marketing is a powerful way to create massive sales. Yet many email marketers are not seeing anything close to those kinds of figures. Honestly, I don’t know anyone who has a 4300% ROI. I know I don’t, but even so, I believe in email marketing because I’ve seen what it’s done for my business.
Before employing email marketing I had a business website that generated ZERO sales. Before that I made a few bucks here and there selling used books and other items on Ebay, so I thought, create a website and I’ll increase my sales and profits. Wrong! Email marketing has increased my business many times over from the occasional sale I made on Ebay and the no sales I made with my “business” website.
What are the benefits of email marketing? First, it’s fast. You can communicate with your email subscribers as quickly as you can write and email. Just hit send on your autoresponder and you can have your message out to your subscribers in no time flat.
It’s also cost effective. I can send my email subscribers as much as I want to for a fraction of the cost that it would take to communicate using any other medium. Your automated system can function 24/7 while you’re doing something else. Email marketing can deliver traffic, leads, and sales all day long every day with or without your full moment-by-moment monitoring of your business.
Plus, it’s personal. When I email, it’s one to one, not an ad to thousands in a newspaper or magazine. It also creates a good avenue for two-way communication. Anyone I’ve emailed can easily reply directly to me.
Through email marketing you can nurture your prospects and customers as you engage with them over time. Email marketing is rarely a one and done situation. While some prospects will disengage, there are others who will come on board.
One question is, how can you encourage your subscribers to open your emails? If they don’t open them, there’s no chance of them taking action. Second, once they’ve opened your email, how do you encourage them to do what you would like them to do, whether it’s click on a link, or something else?
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