How Much Does Email Marketing Cost

A mid-size company should expect to spend $9 – $1,000 per month on email marketing if they run their campaigns themselves (depending on the platform and amount of subscribers), or $300 – $500 if they hire an agency.

Customer retention and relationship-building are at the heart of any successful email marketing campaign. With a well-designed and well-executed email marketing campaign, previous and existing customers, as well as potential customers are encouraged to visit your website while you provide an incentive for them to do so.

In this guide, we’ll define email marketing, and also look at how to set up a successful email marketing campaign.

What Is Email Marketing?

Email marketing is a type of digital marketing that involves navigating and managing emails delivered to both new and existing customers. These marketing methods place a premium on email conversions and frequently include calls to action that entice subscribers to do a certain activity.

The purpose of email marketing is to keep consumers happy and convert prospects into paying customers. This form of marketing allows you to establish a personal connection with your target audience while also sharing information about your organization and team.

You can use email marketing campaigns to announce company changes, offer sales, introduce products, and promote your brand, for example. By ensuring that your subscribers are aware of their alternatives and have a comprehensive understanding of your items, you may improve sales. Email marketing is popular because it is the most cost-effective and yields the highest return on investment of any marketing tactic. Increased revenue, conversions, and real-time marketing are all advantages of email marketing.

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How Much Does Email Marketing Cost?

A mid-size company should expect to spend $9 – $1,000 per month on email marketing if they run their campaigns themselves (depending on the platform and amount of subscribers), or $300 – $500 if they hire an agency.

How To Develop An Email Marketing Campaign

Understanding your products and overall services, as well as the organization, is required when creating email marketing campaigns. To get started with your email marketing campaign, follow these steps:

1. Set goals

Setting goals for your email marketing campaign ensures your whole team works toward the same goal. This allows you to improve productivity and accomplish goals with more ease. Here are some ways to set goals for projects:

  • Inform: Keeping customers up to date on exciting company news and new products or services can add value to the reader’s experience. Consider what they stand to gain from reading the email.
  • Attract: You must now focus on keeping customers interested and returning to make purchases. An email campaign is a wonderful way to introduce readers to the brand and direct them to the company website if they aren’t already consumers.
  • Engage: To encourage engagement, you should use strong language and fascinating terminology while writing your email. Relevant materials, like photographs or videos, might pique your reader’s interest in products or services, as well as the company’s mission and values.
  • Convert: The fundamental goal of your email marketing campaign is conversion. Consider how you can nurture these conversions to generate more sales when creating conversions.

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2. Consider the type of email

Consider if you want to advertise a product or sale, announce a grand opening, or announce a special deal when creating your email marketing campaign. The structure of your email is usually dictated by the goal of your campaign. The following are some examples of frequent email types used in email marketing:

  • Abandoned cart reminders: You can send reminders to clients and customers who have abandoned their carts, increasing their chances of completing purchases.
  • Confirmation emails: Following a transaction, clients and customers receive confirmation emails that provide them with a summary of their order.
  • Newsletters: These emails might contain educational content as well as educate clients and consumers about prospective changes in the organization.
  • Product announcements: Product announcements inform customers and clients about new items and modifications to existing products.
  • Special offers: Sending clients emails about special deals increases the likelihood that they will use those offers to purchase products and services.
  • Welcome emails: Clients will feel valued within the organization if they receive welcome emails.
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3. Determine the target audience

Because your content reaches them more readily when you identify and target your audience, you’ll obtain more leads and conversions. Consider segmenting your target market by following these steps:

  • Browsing behavior: You can have a better understanding of your website users’ shopping preferences by tracking their actions. You can use this data to send them personalized emails in the future.
  • Demographics: Basic information about each person’s lifestyle, such as age, gender, and income level, can be gathered throughout the sign-up process.
  • Engagement: Users’ activity can be used to segment your list. Sending a targeted campaign to re-engage your dormant subscribers might be a good idea.
  • Geographic location: The shopping habits and purchasing decisions of some consumers are influenced by their location. It can also help you time your emails according to your receivers’ time zones or effectively target your audience based on their proximity to a store.
  • Past purchases: This area is perfect for sending suggestions for products that are connected to or complement their previous purchases.
  • The interval between purchases: Sending a message that makes sense to recipients might be as simple as segmenting by the time since the most recent transaction.

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4. Choose an appropriate email service

All email marketing systems are not created equal. In most cases, the platform you select will assist you in meeting your objectives. Price, user interface, reviews, and comparison are all factors to consider when selecting an email service.

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5. Develop a subscriber list

Developing your subscriber list takes time and effort, as well as consent from your recipients to send them emails. Here’s a list of things to think about when building your subscriber list:

  • Use the website’s form. Consider including a subscription form on the company’s website as a pop-up form.
  • Make use of a form on social media. Consider incorporating a plug-in into your social media platform that allows viewers and consumers to subscribe to your material.
  • Make a good-value offer. If customers and clients opt to provide you with their email for subscriptions, a value offer provides them with something they feel worthwhile.

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6. Plan your email

Here’s a step-by-step guide to creating the perfect email to engage clients and customers:

Consider your subject line

To begin, you create a subject line that entices them to open the email. Include the following in your subject line to make it stand out:

Numbers

Consider offering measurable values in your email to motivate them to open it.

Tone

Customers and visitors will feel more at ease if you speak in a conversational tone. This will boost client retention.

Personalization

Consider tailoring your email to individual clients, even if you’re sending it to a large group of people.

Deliver relevant data

Your content must be relevant after clients open the email in order for them to continue reading. Customers are more likely to read your emails if you continuously give useful material. This also assures that they are looking forward to getting your emails. This improves client retention and enhances the likelihood that customers will purchase the things you recommend in your email advertising.

Avoid the spam folder

Some emails filter through received correspondence by sending emails immediately to the recipient’s spam folder. Consider the following tips to avoid this:

  • Ensure that the recipient provided permission for the receipt of emails and provide an unsubscribe option.
  • Personalize the email to ensure the recipient’s email service knows that the correspondence is intentional.
  • Use verified domains.
  • Limit keyword spamming by using a maximum of four keywords per email.

Optimize your formatting

Consider how you can make your email marketing campaigns more mobile-friendly by optimizing them for phones, desktops, and other mobile devices. This ensures that the recipient may read it from wherever and avoids any hurdles that would hinder them from doing so. To improve your email’s formatting, run it through your email software several times to ensure that all fonts, photos, and lists are properly formatted.

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7. Track your analytics

You might want to keep track of your email analytics to see which campaigns are the most successful. This gives you a solid base for future correspondence, as well as a wealth of information to aid in the development of your campaigns. You can figure out which topics your subscribers are most interested in by looking at your stats.

Here are some metrics to consider while aiming to improve the campaign’s overall success:

Deliverable: To enhance the chances of your email being read, make sure the recipients receive it.

Clicks: Keep track of whether or not the recipients open the emails. This determines if your subject lines persuade recipients to open and read your email.

Conversions: Your conversions show whether or not your recipients fill out forms or respond to your calls to action.

Unsubscribers: To determine whether your campaigns are interesting to your recipients, keep track of how many people unsubscribe from them. Unsubscribers should be kept at less than 2% of all subscribers.

Types Of Email Marketing Campaigns

#1. Welcome emails

A welcome email welcomes customers to your brand once they sign up for a service, newsletter, product trial, or other offers. You can change the welcome email depending on the offer, but you should always stay on brand and highlight the benefits of connecting with your product, service, or company.

#2. Co-marketing emails

A co-marketing email is created when two or more firms collaborate on a product, event, or campaign in order to maximize overall reach by using the audiences of both brands. You can send emails to both client bases via email marketing, but be sure to clearly identify the joint effort by incorporating both firm names and logos. 

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#3. Newsletter emails

Weekly, monthly, or quarterly newsletter emails are common, and they might include articles, advertisements, customer reviews, or blog postings. It’s critical for newsletter emails to be visually appealing and include a call to action (CTA) to entice readers to read the entire message. A newsletter with simple fonts and layouts, as well as the proper total length, is engaging and simple to read.

#4. Dedicated send emails

When you need to share information with a specific set of people rather than your complete consumer base, dedicated send emails to come in handy. For example, maybe you want to welcome new members to a blog membership, or maybe your firm is releasing a new product, and you want to encourage your most loyal and repeat customers to give it a try first. You can write an email to this group and send it to certain recipients.

#5. Confirmation email

A confirmation email, or transactional email, lets a customer know their transaction went through and confirms bookings, registration, sign-ups, orders, or payment. You can use confirmation emails for things like flights, hotels, online food orders, online purchases, and more. A strong layout for confirmation emails is simple with straightforward phrasing and design.

#6. Event invitation emails

Event invitation emails can be used to promote future events such as product launches, virtual seminars or sessions, and in-person meetings. In your layout and design, consider using graphics, images, and other visuals. Encourage your email recipients to sign up for the event by providing value and explicitly stating what the event is about and when it will take place.

#7. Form submission response email

When a customer joins up for or downloads something, such as a PDF guide or a free quote, this marketing email serves as a thank you. A call to action that ties to what you offered should be included in emails like this.

#8. Standard promotional email

One of the most popular types of promotional marketing emails is the basic promotional marketing email, which is more generic than other types of marketing emails. While sending emails outside of sales, new product launches, or events can help keep customers engaged, you still need to make sure the content is interesting. Consider content and imagery that elicits an emotional response, employs comedy, teases an impending event, alludes to current events, or promotes a contest.

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#9. Seasonal marketing campaign email

Around holidays like Thanksgiving, Christmas, Mother’s Day, and Father’s Day, a seasonal marketing campaign email is frequently sent. You can send out a series of season campaign emails in the lead-up to and during the sales event. Consider using holiday-themed designs, colors, and graphics, and send early to catch individuals who could make a pre-holiday purchase. Make the sale a one-time-only event with a special holiday deal.

#10. Brand story emails

To elicit an emotional response and a personal connection from a customer, use brand story email marketing to tell the history of your company, product, or service. Focusing on values, purpose, or reputation might help you get new followers or strengthen existing ones.

#11. Abandoned cart marketing email

This marketing email is generated automatically depending on client activities, such as a customer adding an item to their online shopping basket but not completing the transaction. An abandoned cart email invites the buyer to purchase the item and may include an incentive, like a discount or free shipping if they do so within a particular amount of time. These marketing emails have a greater open rate and are more likely to result in sales

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#12. Survey or review request emails

Marketing emails that ask for a company or product reviews or a survey of their experience connect customers, develop credibility, and drive traffic to your website, all while boosting search engine results. Connect with your most satisfied and loyal customers first, and consider presenting a prize, such as a gift card.

#13. Re-engagement emails

When you want inactive subscribers, consumers, or clients to reconnect with your business, use re-engagement marketing emails. The idea is to figure out whether these customers are viable or should be removed from your marketing lists. A call to action or a request for feedback is usually included in these emails. 

#14. Internal communications email

Employees must be remembered as well. Keeping them informed and up to date on new goods, releases, customer loyalty programs, and other relevant information may help them remain informed brand ambassadors and knowledgeable when speaking with customers. Internal marketing communications should be visually appealing, but clarity and content should take precedence. Ensure that all information is accurate, complete, and simple to comprehend so that employees can make informed decisions. 

Conclusion

You may easily increase your annual revenue with email marketing. You can turn a 100-word email message into thousands of dollars with the correct technique, the right tools, and a little elbow grease.

Frequently Asked Questions On Email Marketing

What is email marketing?

Email marketing is a type of digital marketing that involves navigating and managing emails delivered to both new and existing customers.

What factors impact the cost of email marketing?

Here are the major factors that affect the cost of email marketing:

  • Your existing email list’s quality
  • Your email’s level of intricacy
  • The frequency with which you run campaigns
  • Your platform of choice 

What is email marketing?

Email marketing is a type of digital marketing that involves navigating and managing emails delivered to both new and existing customers.

How can I create an email marketing campaign

To create a successful email campaign, you need to do the following:

  • Set goals for your email campaign
  • Choose what type of email to send
  • Segment your target audience
  • Select the right email service to meet your needs
  • Build your list of customers/subscribers
  • Plan and design your emails
  • Test and track your email campaign’s performance

References

  • indeed.com – Q&A: What Is Email Marketing?
  • indeed.com – What Is Email Marketing? (A How-to Guide and Tips)
  • webfx.com – How Much Does Email Marketing Cost in 2022?

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