What Is Email Marketing?
Email marketing is a powerful marketing tool that involves sending emails to customers (actual customers and potential customers) with these purposes:
- Building customer relationships
- Build brand awareness
- Promoting products/services
- Turn shoppers into customers
- Increasing long-term profits
With all the different marketing tactics nowadays, email remains one of the most useful and profitable. Let’s look at why your Etsy shop needs it:
Benefits Of Email Marketing
Targeted Communication To Your Customers
Through list segmentation which we will learn later, we can target different messages to different subscribers. For example, a thank you message to customers and a free shipping coupon code for interested shoppers. This allows you to satisfy your subscribers wants and need more directly, making them more likely to buy.
Helps Build Long Term Relationship With Customers
Email marketing can built trust and reputation for your business. Customers who trust your business are much more likely to come back again and again. An example is sending a product care instruction to customers who have recently bought from you. This helps them make the most out of their purchase, and shows them that you are an expert of your products and industry.
High Return To Investment
Litmus says email marketing has a return on investment (ROI) of 38:1, which means for $1 invested, business on average gets $38 back. That is higher than the ROI of social media, paid ads, etc.
Relatively Low Costs
Compared to other methods of marketing like paid ads, email marketing is relatively cheap. Most email service providers charge a monthly fee of around $20-50. For a small subscriber list, the cost is even lower with some services starting at $10.
Everyone Has An Email Address
It’s estimated that there are 3.8 billion email addresses in 2019, and that number is increasing every day since. Probably the majority of people you know have one. And if they have one, you can potentially sell to them by email marketing.
You Own Your Email List
You own your email subscriber list, not Etsy. As you know, changes on Etsy are constant. If you get hit badly with an algorithm change, you can still promote to your loyal customers by email. And even if your Etsy shop gets closed down, you still own your list. Having those contacts could mean make-or-break if you need to start something new.