Email marketing is something which can be used as a tool for making money, but it is important to make sure that it is the right thing for you and will be worth the effort and money. Sending out emails can be expensive and it is worth considering what you aim to achieve from doing so.
When to Use Email Marketing
You need to consider whether email marketing is the best thing to do for your company. You may have a list of email addresses from previous customers and wonder whether to send out some emails or you may be considering buying some email addresses in order to target people. It is worth thinking about whether this would be the right way to get potential customers. If you can, do some research to find out where your current customers heard about you and consider whether enough of them found you through email to make it worth it. If you have not tried email before then look at where they did find you and consider whether it is better targeting those areas as it is likely if one customer found you there, others may as well.
You also need to make sure that it is the right time for this sort of campaign. Think about this in terms of the time of year, the economic climate, the current state of your business and things like this. Can you afford it, if demand increases will you have enough stock, will potential customers want it and be able to afford it and want it at this time of year? There are lots of questions you need to ask yourself first.
How Much to Pay for Email Marketing
Email marketing can cost a lot of money. Even if you do not buy email addresses, they will still need to be sent out and if there are a lot to do a specialist email system may need to be used that costs money. If you do it without this then it will take time. You need to think about how much you think it is worth. It can be hard to calculate how much it could potentially generate, but consider how many sales you will need to make in order to cover the costs and think about whether you think is realistic. You could look at the current conversion rate on your website and consider whether that might be a good way to judge the email conversion rate too. Consider how targeted the emails will be a s well as this will make a different to how effective they will be. If they are past customers, then they are more likely to be interested compared with those that have not bought from you before.
It can be a very difficult decision and it is worth thinking it through and doing research to see whether you think that it will be a cost effective choice for your company. Also consider whether it is the right time to run this sort of campaign to give it the best chance of being successful.