Estimated reading time: 5 minutes
Is your business migrating online? Start with the basics – Email Marketing. According to Hubspot (2019) you can target your emails to your audience and customers and boost conversions and revenue. When you do this, you provide subscibers and sutomers with information to help achieve their goals.
The Digital World is ever-evolving with technology taking the lead in our lifestyles. We have recently seen many companies struggle to keep up with the trends and in turn, go under. It is more important than ever to try and support Highstreet stores to maintain human interaction and keep jobs in this sector afloat. A report written by a Law Firm (2019), predicted that Online Shopping would dominate the retail industry by 2028, contributing to 53% of total retail sales. Although this is great for the industry as a whole, this is a concern for those who work inside the stores.
In this post, we’ll define Email Marketing, show a few examples of how it’s used in businesses today, and provide the best practices for getting started with Email Marketing in your company.
What is Email Marketing?
Email Marketing can be used to communicate with new and existing customers. For example, those who sign up to receive emails from your company can be made aware of new products, exclusive discounts, receive order confirmations, or they may even choose to receive a digital receipt from their in-store purchase. Additionally, “softer sales” will inform your audience and maintain a relationship.
Is Email Marketing Important
Keeping in touch with your customers is an essential part of running a business. The goal is to improve brand presence and build a relationship. Statista (2019) reports that in the UK, a whopping 86% of users open their emails sent by companies. Therefore, even if your customer doesn’t complete a goal in that instance, your email should be in the back of their mind should they want to complete a purchase in the future. This is known as multi-touch attribution. Although Highstreet stores are forced to close at the moment, they are still able to communicate with their customers via email. Emails build relationships and drive traffic to websites and physical stores.
Not only is this tool cost-effective but it has a high return on investment (ROI). According to an ‘eMarketer study’ (2019), the median Email Marketing ROI is 122%. To put that figure into context, the ROI for Email Marketing is four times higher than any other marketing channel. It is one of the best converting channels!
Missguided sends lots of interactive emails including gifs, images, and lots of embedded links. Accordingly, the brand approaches its customer’s inboxes like a friend. By speaking your buyer’s language, they are more likely to be intrigued and elicit positive emotion. Open your buyer to persuasion.
Additionally, McDonald’s has provided a fantastic example of keeping their customers warm and informed via email during the pandemic. Although they closed for a short period due to COVID, they sent frequent emails to update their customers on their next steps. This method kept the brand name in the audience’s mouths, (pardon the pun) and constructed an “exclusive” feel for those who knew what was happening before others.
Our final example, Ebay, showcases the upkeep of the brand’s consistency so the customer knows exactly what it is and what they’re getting. Ebay’s emails mirror their website layout which is familiar for the user. By branding consistently, their hope is to drive traffic to the website to convert into sales. However, this approach isn’t always popular with their customers.
Email Marketing Top Tips
As we continue to adapt to the changing world, Email Marketing is going to become increasingly essential to generate traffic (both physically and digitally). It will be used to promote sales, increase conversions and build a loyal customer base.
Firstly, segment your audience by where they are in the buyer’s process. Generate hyper-targeting in your campaigns and effectively promote your brand to those who are most interested.
Then, let your imagination shine through your emails to retain your customers with relevant, exciting content. Know your competitors and your strengths.
Indeed, imperatives are key. Nobody wants to miss out on a ‘one-time offer’. Use urgency and deadlines with a strong call to action for quicker reactions from your audience.
Although you want to build a connection and a routine, it’s imperative you do not spam your audience as they may prematurely unsubscribe. By using various Artificial Intelligence tools, you can use an evidence-based approach to contacting your consumers at the right time to improve effectiveness.
In summary, it is time for the retail industry to adapt and succumb to the “Digital Age”. Remember, you can still bring your customers into stores by reaching them online. Marketing via email allows for a longer, more substantial message in comparison to Social Media. The added bonus is that customers have previously shown an interest in your business when they signed up to receive your emails.
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