There has been a great debate as to whether email marketing is still a profitable form of advertising for small business. Some companies feel that email marketing has worked well for them, while others are still a bet skeptical. Truth is, cultivating an email list is still quite vital to a long term marketing strategy.
Why Having an Email List is Profitable
Before we get into ideas for small business owners to increase their email list, we need to understand why this works. When a new person signs up for your list, they often have to voluntarily subscribe in some capacity. By doing so, they are volunteering to have your advertisement in front of them on a regular basis! Daily, weekly, or monthly!
This then becomes a great opportunity to market new products, new specials, and new ideas to them. By keeping your business in their inbox, you are ensuring that they have at least thought about your business sometime in the recent past.
Critics Respond / Open Ratios
Of course, critics of this type of marketing feel that unless your subscribers are opening the emails, your time is wasted. This is not true! Statistics have shown that very few emails actually get opened. But the ones that do often lead to sales and conversions.
Open ratios should never be counted solely as a "pass or fail" when it comes to email marketing. Instead, try to focus on having well-written emails with engaging titles to help increase the number of times an email gets opened.
Ways to Use a Solid Email List
There are literally hundreds of ways to use a solid email list with customers. Local restaurants can include new menu items, specials, or coupons. Retailers can offer a free gift if the printed page is turned in at the physical store. Strictly online companies with no actual storefront can offer free product giveaways. And all of these businesses can try to upsell new products and/or services to these past and future clients.
While creating a profitable email list can take time, the effort is certainly worth it to have hundreds (or thousands!) of potential customers ready to hear from you at all times.