Despite often being overlooked in the age of social media and instant messaging, email remains a formidable sales strategy, consistently employed by top online brands.
This seemingly old-fashioned method boasts unparalleled reach and personalization capabilities, allowing businesses to directly connect with their audience in a targeted manner.
As a result, email continues to be a cornerstone of digital marketing.
It has become one of the most common — and successful — strategies available for marketing campaigns whether you want to expand your brand or sell goods or services.
According to Statista, its revenue worldwide is estimated to be $8.49B and is expected to increase by 287% globally between 2024 and 2032.
In this article, we will discuss Email Marketing, how can we differentiate its type, why is it so profitable, and how it helps you grow your business.
What is Email Marketing?
To put it simply it’s a form of direct, digital marketing that lets businesses use targeted messages to subscribers’ inboxes to inform them of new products or services.
When you open a website, you are often asked to provide some information such as your full name and email address if you wish to access some additional information, in-depth content, receive more ideas, or gain valuable resources.
The moment you fill in your information you become a “Subscriber“ and we refer to this whole process as “opt-in”, this subscription ensures you stay informed and engaged with the website’s latest content and offerings by receiving different types of marketing emails.
Types of Marketing Emails
Understanding each type is the best start to developing an effective email marketing strategy, they might be different but the goal is still the same, to drive sales and build a profitable relationship with the reader.
Welcome Emails
Typically, within the first minute or hour after subscribing to an email list, you receive a welcome email. Marketers would usually avoid hard selling since you are still new to the brand and instead focus on building a relationship by giving you an introduction and providing you with an idea of what to expect from their emails.
Welcome emails typically see high open rates (up to 50%) and conversion rates (around 4%) which helps capture immediate sales.
Offering a discount on the first email encourages new subscribers to make their first purchase, turning fresh leads into customers.
Confirmation Emails
A confirmation email might be sent to those who have recently signed up for newsletters or emails, or who are making their first online transaction. This assures the prospect that their information has been received and that their name has been added to the list for future updates. These can also contain additional tasks for users to complete and serve as a means of informing users that their purchase or sign-up was completed.
Providing an incentive such as free shipping, businesses can encourage customers to make a purchase sooner rather than later.
Confirmation emails often have open rates of 70-80%, which means the chance to send an immediate follow-up action is high.
Promotional Emails
The main of a promotional email is to spread the word about your product, they are generic emails that go out to a large audience teasing an upcoming launch, event, or special content. They are the most common type of emails that customers receive.
Businesses direct traffic to their site and make sales through limited-time offers. Promotional emails can generate an immense increase in revenue, often resulting in a 30-50% increase in sales during the promotional period.
Newsletter Emails
They are popular for highlighting brand updates, new articles, products, or services, usually sent on a regular schedule, newsletter Emails are a great way to stay in touch with the customers.
When businesses update their customers and offer exclusive discounts, they keep their audience engaged and willing to purchase more. Which leads to high engagement rates driving consistent traffic and sales.
Lead Nurturing Emails
This type of email targets potential customers who showed interest in a specific product or service, the goal is to build their interest more by sending automated sequences until they are moved from consideration into purchasing.
By targeting interested leads with special offers, businesses can convert these leads into paying customers, increasing sales. Lead nurturing emails can see conversion rates as high as 20%, significantly impacting revenue from targeted campaigns.
Dedicated Emails
These emails have a very specific Call To Action, reaching out to only a portion of the email list to inform them about an upcoming event, a new product or invite them to a webinar.
Through trust and education, businesses promote future sales and build better relationships with their customers by providing them with special invitations and important content.
Survey Emails
Customer feedback is one of the business’s most valuable resources. These emails play the role of a statement.
You let your clients know that you value their opinions and are working to make your product, experience, or whatever you’re selling enjoyable. Companies can also use the input from these surveys to improve their products by incorporating them into their current offers.
All these emails are a great way to diversify your content and keep your business top-of-mind with customers and prospects.
But the question is, why would business owners invest time, energy, and money to optimize their email marketing campaigns? Why is Email Marketing so important?
Why Emails Make 30% Revenue For an Average Online Business
According to OptIn Monster, almost everyone who uses email checks it at least once a day.
Some even check their email up to 20 times a day, largely due to mobile devices.
In the meantime, a majority of email users—58%—check their inboxes before using any other platform, such as social media (14%) or the news (5%).
This means that individuals without a doubt are susceptible to the influence of promotional content, this nature of checking the news with nearly everyone accessing their inbox daily creates constant exposure to marketing messages which significantly increases the likelihood of readers being swayed into making a purchase.
According to Sales Cycle, 50.7% of people buy something from a marketing email at least once per month.
Meanwhile, 23.8% of people make a purchase via marketing emails several times per month and 3% do it more than once per week!
Not only do people habitually open their emails first thing in the morning, but the mere act of subscribing to an email list signals a level of interest or curiosity about a brand.
Subscribers are already 10% to 20% convinced of a potential purchase, yet they often remain on the brink of uncertainty.
Once they are on your list, it’s like they have given you the ball, play in your field as you want but to score the point you need to understand something…
As humans, we want to escape uncertainty and insecurity, often through various means, including purchasing products.
Personalization increases the effectiveness of email marketing by 760%. Email lists and marketing campaigns are the reason for this enormous rise in email income. In the same way, customized subject lines boost the likelihood of email opening by 26%.
This is most likely the reason 94% of marketers are investing in skills to collect customer data.
By addressing the subscribers’ pain points, desires, and dreams directly, marketers can build a sense of security and deal with the reader’s uncertainty effectively.
Emails serve as a powerful tool for this purpose, providing a direct line of communication with the reader unlike ads or cold calls, which can be easily ignored, emails are deliberately opened by a recipient who is seeking valuable insights and solutions.
Research from Constant Contact indicates that 60% of consumers bought something thanks to a marketing email, while only 12.5% say they would consider buying something directly on social media! Once convinced, consumers are not only eager to make a purchase but often inclined to make additional ones.
Moreover, consumer preferences align with the prevalence and frequency of promotional emails, with over 60% expressing enjoyment in receiving weekly promotions, and a significant portion desiring even more frequent communication.
This appetite for discounts and content underscores its relevance and effectiveness in engaging your audience to drive more conversions (action).
That’s why, now more than ever, it’s crucial to leverage emails if you want to build a loyal community that looks forward to hearing and buying from you.
