In 2019, there are so many ways in which you can now communicate with new and existing customers. Social media is now bigger than ever and with emerging trends such as affiliate and influencer marketing, the online marketing industry is booming. But where does email marketing stand in 2019? Some marketing professionals argue that email marketing has had its day and people are instead using other platforms that are more personalised and targeted such as social media. However, other companies such as UK Car Finance, still use email marketing as an integral part of their marketing strategy and according to Campaign Monitor, 89% of marketers consider their email marketing strategy successful! With this in mind, UK Car Finance look at the different types of email marketing, the benefits and disadvantages of it and how effective it is in 2019.
What is email marketing?
The concept of email marketing itself is pretty straightforward. Email marketing is using email services to promote a product or service to new and potential customers. There are a few ways in which you can collect email addresses that you can send your promotional offers to. You should make sure you are up to date with the latest General Data Protection Regulations (GDPR) before you start collecting as many email addresses as possible. GDPR was introduced in 2018 to better data management and protect the information that businesses hold about individuals and promotes a new era or ‘permission based’ email marketing.
Email marketing allows companies to send specific messages and keep their customers up to date with the latest news. However, sending out too many emails can be seen as spammy and result in users unsubscribing from your list. There are a few different ways in which you can use email marketing including introduction emails, promotional content, satisfaction surveys, seasonal or birthday offers, newsletters, abandoned cart messages and much more.
Benefits of email marketing
There are many benefits of email marketing for both businesses and consumers. If done well, email marketing can be one of the most effective marketing channels! Some of the main benefits of email marketing include:
- Low costs and cost effective
- Deliver targeted messages
- Increase revenue and conversion rates
- Easy to measure
- Build strong customer relationships
- Increase your brands credibility
- Easy for recipients to share and forward
- Time efficient
- Environmentally friendly
- Less intrusive than telephone marketing
- Easy to use
Disadvantages of email marketing
You may have tried email marketing in the past and it might not have worked for you. There are some limitations and drawbacks of using email marketing. Many businesses may face a few challenges that can hinder their changes of email marketing success.
If you are bombarding your email list with constant messages, you can see an increase in unsubscribes as your recipients may see your company as spam. Your emails can also be intercepted by spam filters, meaning that your email will automatically end up in your recipient’s spam folder, which most people never check.
Most people use their smartphones to check their emails on the go, however you can’t always be certain which type of device they are going to open your email on. Each email you create needs to be responsive to different device so that you don’t lose any important call to actions, buttons or links.
Lack of in-house skills
Many companies look to outsource their email marketing efforts to agencies, which can then make email marketing expensive. If you don’t have the skills in-house, the email marketing process can become time consuming and costly. You will need to compile your email list, have a keen eye for detail and also be able to create captivating content to make sure your email campaigns are a success.
Is email marketing still effective?
So, with everything in mind that we’ve already looked at, when it comes to planning your marketing strategy, do you include email marketing? As you can see there are way more advantages of using email marketing than there are disadvantages. As mentioned, social media is a great way to increase sales, but it can be just as spammy as emails can too!
There are also an increase number of email marketing platforms that are becoming more personalised and intelligent. When email marketing started to take off, there were a few big brands that really stood out but now there is a lot more to choose from. Depending on what you want from your email marketing there are a number of platforms for you. Your preferred platform can depend on your subscriber numbers, design ability, number of emails to send per day/month, business size, marketing budget and more.
Looking at how UK Car Finance utilise their own email marketing, we can see that of all the marketing channels, emails is one of the most profitable. They use MailChimp to handle all of their data and email campaigns, as it is great for small businesses, large corporations and anything in between! Email can be used to inform existing customers of latest news and also bring them insightful information such as company blog posts. They also use emails to promote offers that aren’t directly ‘salesy’ and instead make the consumers life easier such as advertising the car finance calculator, which lets potential customers work out their car finance budget and likely loan amount before they even apply. A soft reminder email is also great for any customers who have applied for car finance previously but did not want to go any further with their application. This helps them to keep the door open and also encourages online applications.
I am a blogger, marketing expert, student of the market and a visionary.