When a business wants to grow, email marketing is a critical tool to help your business take a step in the right direction. Currently, 3.7 billion people across the globe use email, and that number is expected to rise to 4.1 billion by 2021.
With millions of marketing dollars spent on email marketing every year, businesses need to know how to get a profitable return on every dollar they invest.
If you’re interested in starting an email marketing business, read on for some essential tips and strategies to help get you started.
What is an email marketing business?
While there are two ways to cover email marketing businesses, this post will focus more on the agency or freelancer model of businesses (performing email marketing on behalf of others). But keep in mind many people launch entire publishing companies centered around email marketing.
Your email marketing business could make a substantial difference in a company’s ROI. Every business can benefit from an effective email campaign, but few business owners are equipped to make the most of this channel.
As an expert in email, you’ll need to focus on these tasks to master the email marketing business for your clients.
1. Identify your client.
No matter how amazing your marketing campaigns might be, they won’t be right for everyone. Your ideal customer isn’t the company that has a full internal staff to handle their digital marketing needs. And it won’t be the client that doesn’t realize the importance of email marketing—unless you convince them.
The best customer is the one that has experimented with this mode of advertising, maybe had some success, and then didn’t have the time to make the most of their opportunities.
This business recognizes the importance of an effective email campaign but doesn’t have the time, knowledge, or resources to put it into motion.
2. Identify your client’s needs.
Businesses have plenty in common when it comes to the challenges of successful email marketing. Creating campaigns that present relevant information and convert customers down the sales journey is vital for just about any user of email marketing. But they may need someone to code emails, build them in a template, write copy and content, or develop advanced marketing automation journeys.
3. Offer the right solutions at the right time.
Once you pinpoint their needs, you can offer solutions that take their email marketing to the next level. Your expertise is the key that transforms ROI and builds the bottom line exponentially.
How do I measure my email marketing business?
There are plenty of reasons why you need to measure your success objectively and consistently. First, you need to know that what you’re doing for your customers is actually working. Second, you need to be able to demonstrate your effectiveness to potential clients. Finally, you can use your success to build customer loyalty, even while you expand your customer base.
There are numerous ways to track the success of your email campaigns:
- Open rate: number of times recipients open a campaign
- Click-through rate: number of recipients that click on a link within the email
- Conversion rate: number of recipients that become customers as a result of the email
- Bounce rate: number of emails that don’t make it to the recipient
- Unsubscribe rate: recipients that unsubscribe from your email list
Does it really matter?
If you’re going to launch a successful email marketing business, you need to convey the value of your services to prospective customers. More numbers come into play here, since the stats on email marketing are quite compelling. Consider these figures:
Have your facts ready to share with prospective customers and customers that you would like to work with again. The numbers are a critical support in helping you build your email marketing business.
Ready to get started? Here’s how you can advocate the value of email marketing.