Email marketing for SMEs is more important today than ever due to its numerous benefits. Small and medium-sized enterprises (SMEs) are the pillars of businesses around the world and major drivers of global economic growth. They are independent firms that create about 1.5 million jobs annually and account for 64 percent of new jobs created in the US.
Although their revenue is less than what the big firms get, there’s no limit to how much they can make in returns. So, what happens when email marketing is in the picture?
In a post on the Ultimate Guide to Email Marketing, we already established how the ROI on email marketing is significantly higher than many other marketing channels and SMEs can take advantage of this.
However, it isn’t just about the ROI. If you’re a small or medium-sized enterprise yet to explore email marketing, this article will highlight the top benefits you need to know.
1. Increases Your ROI
The end goal for any business owner is to increase their return on investment (ROI) and your marketing tactics won’t be successful if you can’t measure it. Email marketing has been shown to have an average return of $36 for every $1 spent, which is higher than other platforms. The percentage is recorded to be even higher if the emails are personalized and tailored to suit the audience.
2. Improves Brand Recognition
You can increase your chances of making sales over time with improved brand recognition. Emails are personal and when you bring your brand to your customers’ inboxes, they tend to familiarize themselves with it. This is beyond the email design but also about the content of the email that further reinforces what your brand is about and gives them reasons to stick with you.
3. Builds Strong Customer Relationships
One of the major things SMEs bank on is customer relationships, as this will not only help improve sales but will also increase referrals. Improving customer relationships with email marketing will require being intentional and the results will be evident.
Many customers love seeing updates from their favorite brands in their emails. This is something they can’t get from Facebook or Instagram where your posts are made public and not directed at them.
When you launch a new product or have an upcoming event, your customers will be excited to be the first to know about it. Constantly feeding them updates about your business will build your relationship with them over time.
4. Builds Credibility
Credibility is a key ingredient in converting leads into customers and email marketing for SMEs can do the trick. To build credibility, you need the right email marketing strategy in place. You can make this work by sharing helpful tips with your audience via email and updating them on your brand.
People would want to do business with someone or a brand they can trust. Give them a reason to trust you enough to make a purchase.
5. Saves you Time and Money
As an SME, you will likely have time and budget constraints. So, how can you work efficiently with what you have and still make a high ROI? The answer is Email Marketing.
Traditional marketing or mainstream media can be expensive and time-consuming. You will have to spend an ample amount of money to create and run an effective campaign. It will also take some time, as you have to ensure everything is in place.
However, with email marketing, you can create a campaign from the comfort of your home, set up your email list, and determine the kind of email to send to your audience. You can also schedule multiple emails or create a drip email campaign to be delivered at specific times.
This doesn’t mean you won’t spend time or money but when compared to other forms of marketing, email marketing helps you achieve your goals while you work within your budget and time constraints.
6. The Opportunity for Personalization
Social media marketing has its benefits but there are times you wish you could talk to each follower personally. This is where email marketing comes in handy, as you can send personalized emails to each subscriber.
According to Statista, 78% of marketers are using email for personalized communication. McKinsey & Company also reports that 71% of consumers say they expect personalized marketing and 76% get frustrated when it’s not there.
Personalizing your emails delivers an enhanced customer experience and also helps improve sales.
7. Reach a Wider Audience
Thanks to the internet, you can reach as many people as possible within and outside your circle. You can reach your ideal customer via social media platforms like Facebook, Twitter, and Instagram but you know what’s even better? Almost everyone has an email!
Also, email addresses don’t change, so once you have an email address, you can always have direct access to the person. Not everyone might see that perfect post you made on your Instagram but there’s a chance they would if it landed in their inbox.
Email marketing for SMEs is a great way to connect to your audience far and wide and whether or not they are active on social media.
8. Integrate with Other Marketing Channels
Email marketing can benefit your other marketing channels in various ways. For example, the footer of your newsletter can have links to your social pages, giving anyone who reads your emails access to your social platforms. Your social media platforms can also be used to gain more subscribers.
If you have a website, include the link in your emails to drive quality traffic to the site. You can also embed your subscription form on your site to get more email subscribers. If it’s an eCommerce site, you can automatically add new customers to your list.
This integration often depends on the kind of email marketing service provider you use and the features they offer. With MailDrip, for example, you can have smooth integration with your website and social platforms. You can get familiar with our offers here.
Email marketing for SMEs isn’t so difficult if you have access to the right tools and information. The benefits shared in this article are only a snippet of what you get in return. So, if you are an SME, there is never a better time than now to start.
However, while email marketing promises great benefits, we understand that isn’t always a walk in the park. You will need the right team to help make it work and also stay consistent. You also need an effective strategy to work with.
This is why the team at MailDrip came up with a marketing strategy template to help SMEs like yours get started. All you have to do is fill out the form below to get it.
We also have a team of professionals who can help you handle your email marketing process and help you achieve your goals. Contact us today to get started and take your business from zero to something the world talks about.