Email newsletters are one of the most powerful digital marketing tools available to market your business. They allow you to communicate in a personalized way with your customers and deliver the right message at the right time.
In fact, a study by Monetate found that email marketing leads 4.24% of visitors to complete a sale. Compare this with 2.49% of visitors who come from search engines and .59% who visit from social media.
Email newsletters deliver a variety of messages. Some promote products or events. Others build community among a membership base or offer tips and advice. While your CTA will change with different campaigns, the name of the game is always the same—engaging your customers.
Higher engagement rates
Email newsletters have a much higher engagement rate than other types of digital marketing.
Email is 40 times more effective at acquiring new customers than Facebook or Twitter.
Did you know that email marketing also drives more conversions than search and social?
For every $1 spent, email marketing can generate $44 in ROI. The ability to segment the target subscriber list, personalize messaging, and trigger communications make email newsletters the most effective digital marketing tool around. In fact, marketers report a 760% increase in revenue from segmented campaigns.
How to measure the effectiveness of email newsletters
If the goal is to grow your business, you’re likely looking to acquire new customers. However, keep in mind that acquiring a new customer can cost up to 25 times more than retaining an existing customer. If you have an existing customer base, you’ll want to keep this segment of your subscriber list engaged with your brand.
In Campaign Monitor, the Insights dashboard will help you monitor the effectiveness of your newsletters.
The click-through rate (CTR) tells you the percentage of people who open your email and then click on a hyperlink, CTA button, or image. It can reveal how valuable the information you’re sending is to your customers. In general, a healthy CTR should be about 15%.
You will want to keep tabs on whether your subscriber list is growing, but it can be even more essential to check engagement. For example, how many customers are forwarding your emails to friends, or posting the content of your newsletters on social media? These metrics will help you determine whether your content is resonating.
Does it really matter?
If you want to grow your business, it’s essential to understand the effectiveness of email newsletters. This channel beats out other digital marketing tools to help you sign up subscribers, convert subscribers into customers, and then deepen brand loyalty of your existing customer base.
Now that you recognize the importance of using email newsletters to grow your business, it’s time to get to work. Sign up for Campaign Monitor’s email course, Small Business, Big Impact: 2 Weeks to Elevate Your Email Strategy. You’ll get quality content delivered straight to your inbox, allowing you to develop your strategy over just two quick weeks.