To be clear, I’m not here to say that email is the BEST way to market or the ONLY way to market or that it’s BETTER than some other marketing channel generally.
Unlike a lot of folks, I’m not into making superlative statements… because those statements are rarely true.
The reality is that you’re going to need to use multiple forms of marketing to build your business. So, I’m not going to blow smoke up your arse to suggest email is the only thing you need… I’m just here to say it should be part of the puzzle.
When you do email marketing right, it will make you money.
Why Should You Care About Email Marketing
Marketers Rate Email As The Highest For ROI. Although people have been predicting the death (or at least decline) of email forever, marketers continue to rate email marketing the highest in terms of ROI among marketing channels, with 73% rating it as good or excellent.
Each Subscriber Is Worth A Pretty Penny. The Direct Marketing Association’s Marketer Email Tracker Report found that each email address is worth $48 in the business to consumer space and $56 in the business to business space. Experian has a higher estimate, suggesting that the average value of an email address is $115.
People Rely On Email To Make Purchase Decisions. As much as people think that promoting on social media is a better idea, here’s a newsflash for you, people are way more likely to make purchase decisions based on emails. According to Optinmonster, 60% of people say they’ve made a purchase decision based on an email, while that’s only true of 12.5% of people when it comes to social media. Even among millennials, who we often think are less likely to prefer email, 68% have relied on email to make a purchase decision.
People Are Not Annoyed By Your Emails. And stop thinking that you’re bothering people with your emails. Studies have shown that the majority of people want to receive marketing emails at least weekly. Marketing sherpa found that 60% of people wanted emails at least weekly.
Social Trends Come and Go... Email Has Stood The Test of Time
There was a golden period, where organic social media was a gold mine. If you amassed a large following, you could drive nearly free traffic to your opt-ins and paid offers.
Then the algorithms rose up and killed off organic reach. One recent study found the average “reach” for social platforms ranges from 2.2% (Facebook) to 9.4% (Instagram). Yikes. No bueno.
People shifted to new strategies like paid ads… only to see the cost of reaching their audience through social media advertising go through the roof. The costs for my business have more than doubled in the last year alone!
In the last five years alone, we’ve seen the rise (and sometimes fall) of multiple social media trends, including:
Social Media Messenger Bots - For a period, people were touting the sky high open rates for these messages and suggesting they be a key element of your strategy… only to see FB change the rules and require you to pay to play.
IGTV - Remember this? Didn’t think so… but there was a period where people were touting that you should create long-form content like TV Shows to air on social.
Live Video on Social - Then there was the advice to go live regularly to build a warm audience to promote to later. Trouble is that FB will only optimize for 15 second video views… and that’s not exactly a “warm” user.
Periscope / SnapChat / Clubhouse - Believe it or not, there was a period where each of these platforms was considered THE place to be. Not so much anymore.
The only real constant with social media is that it is ever changing. As I’m writing this page, TikTok and IG Reels are all the rage. But, rest assured, those won’t last either.
You know what hasn’t changed in the last five years?
Email.
It might not be shiny and new. It might not be sexy. It might not be the latest trend. Hell, it might seem downright boring. But being boring ain’t all bad. In fact, one of the cool parts about email is that it is boring. There are no fads to chase. No new strategies to implement. I’ve been using email the same way since 2018… with only minor tweaks. And it keeps on working.
At some point, we will stop using email. But lemme make a not so bold prediction. Email will be around long after people have forgotten what IG Reels (and the next 3 hot strategies that replace it) even was.
If you have time for all the marketing strategies, do them all.
If you have to pick and choose how you spend your marketing time and dollars… let me suggest that email should be among your top choices because you know it’ll be around for the long term.
Email Marketing Is Particularly Useful For Knowledge Brands
Traditional businesses are selling physical things. For those kinds of businesses, buyers are most interested in the product. Sure, brand identity still matters (I’m an Apple person in spite of not knowing the first thing about the product specs)... but ultimately, it’s about the product not the person behind the brand.
For these traditional brands, email marketing is primarily an avenue for selling once people are pretty far along on the buying journey.
As someone who is selling your knowledge (either as an information product or in the form of services), you are different, my friend. Your customers are buying your knowledge… but really, they are deciding whether to buy into YOU. Sure, your product or service has to meet their needs, but the most important question they face is whether to trust you as their guide.
This fundamental difference has important implications for you as a marketer. For you, email isn’t only a channel for selling… it plays an important role during the entire buying journey (or at least once they become aware of you).
Because your potential customers are trying to decide whether to buy into YOU as their guide, one of the most important elements of your marketing mix is to build the know, like, and trust factor. If you accomplish that, they will buy. The focus on the know, like, and trust factor adds a wrinkle to your marketing that traditional brands don’t have to worry about… one of your primary objectives is to build a personal connection with your audience. Email marketing is one of the most powerful tools for doing just that.
When done right, email marketing can create a level of connection that is hard to build through other communication channels.