Why Should I Start Email Marketing?
So you’ve set up your business, you have some cool social posts and are seeing some positive traction on your Ads - great! Now everyone is in your ear about Email marketing and you’re trying to figure out if it’s worth your time and/or money…
Many of you will be spending thousands on ads and are seeing good return from this, but would you not like to continue making money without parting ways with your hard earned cash too? I’m going to talk you through why I started Email Marketing and how it helped me personally generate over £1 Million in revenue over 12 months for ecommerce brands.
The ROI For Email Marketing Is Unmatched
As a business owner, I’m sure you’re savvy with terms such as ROAS and ROI and have a rough idea on what you need to hit in order to be profitable and grow at a reasonable rate. Here are some stats that cover the average ROAS/ROI for a few key channels:
EMAIL MARKETING: “The average ROI through email marketing is 36:1”. - Constant Contact.
Google Ads: “The average ROAS for Google Ads is 2:1 - so for every £1 spent, you generate £2.” - Kobe Digital.
Facebook Ads: “For established companies, in general, a ROAS of 4:1 is considered successful.” - Netscale.
TikTok Ads: “A good ROAS ratio is 3:1 or higher.” - Coupler.
Affiliate Marketing: “On average, it generates 4:1 return on advertising spend (ROAS).” - Gitnux.
For every £ spent, you’ll return 36x more than what you put in, which seems like a no brainer when seen comparatively to other platforms that are regularly used to drive sales. Now I’m not saying the other platforms are not helpful, they are absolutely essential when building a brand but having an omnichannel approach can save you lots of money and also add a layer of security, ensuring all your eggs are not in the same basket.
Stop Throwing Money Away
I’ve explained how it can make you money - but how does Email marketing help me save money too? Previously, I mentioned that an omnichannel approach is vital in having security and now I’ll tell you why. Scenario - it’s June 2023 and you spent £10k on Google Ads which generated £70k in revenue. Amazing! You’re ROAS is much higher than the average and you’re over the moon with your sales.
The downside to only doing this and nothing else is that you only make money when you’re spending money, and that’s a tricky situation to be in. As your brand grows, so do your expenses and you need to be able to keep people in your ecosystem without having to pay an arm and a leg for it. That’s where having an established Email marketing strategy through both campaigns and automations will mean all the traffic you are generating through Ads and other expenditure will now stick with you and you have access to speaking to them and turning those subscribers into further orders.
Can Anyone Do Email Marketing Themselves and Make Money?
Yes - of course they can - we’ve all received thousands of Emails in our lifetime and we can probably figure out what you liked about it and replicate it for our own brand. However if you do want to make over £1m in revenue through Email marketing alone, you’ll need to understand everything from setting up your first campaigns, right down to A/B testing your automations on a monthly basis.
Should this stop you from starting your Email marketing journey? No. I’ve dealt with clients who have put off Email marketing because they didn’t have any spare time, but even setting up a simple lead-gen pop up so your site can start collecting subscribers could be the difference between having a list of 500 subscribers compared to have a healthy list of 50k when you want to start. Imagine you have regular traffic to your site of around 20k/month and only 30% of them sign up to your Emails - that’s 6,000 people you’re adding to your list EVERY single month. These are people who like your brand, have had a positive interaction with your brand and are essentially asking you to talk to them. This will come in hand very much later when you are on your way to making your first million through Email marketing.
If you want to Book a consultation to talk through how you will get to that magical million pound mark - Click Here