A study by WeAreSocial states that there are 4.39 billion internet users across the globe. This means more than half of the world’s population is online. So, it is no surprise that marketers use this medium to grow and engage with their target audience.
While every marketer is trying to come up with better strategies to promote his services, he is often found in a dilemma; which digital channel should I invest in: Email marketing or social media?
If you find yourself sailing in the same boat, we have got you covered. Our latest marketing blog will help you understand both of these channels in detail, their benefits, and how to choose a perfect one from the two. Let’s get started.
Why Email Marketing
Did you know a study by the Radicati Group states that there were more than 3.8 billion email users in 2018? That’s almost 85% of internet users have active email accounts.
Considering this number, emails have become a primary form of communication across the globe. Whether you want to apply for a job or even write to your pen pal overseas, email is the way to go. Don’t believe us? Here are a few statistics that explain how important emails are in our everyday life.
- 269 billion emails are sent every year
- 86% of professionals prefer emails over every other form of communication
- People spend 5.4 hours/day checking email
- 26 % of people check email before getting out of bed
These numbers prove that we spend a considerable amount of our time going through our mailbox online. But, are we so keen on checking just because we have to? Honestly, who can ignore an email from their boss on a Monday morning?
Indeed, we use emails for work, but it is not always limited to that. A statistic mentioned on the MailBird website states that 70% of email users open emails sent by brands. Doesn’t “Early Black Friday Sale Starts Tomorrow. Save Up to 70%” sound familiar? Well, this is just one of the many ways businesses use this effective method to entice their audience. Here are a few other figures that convince enterprises of every size to invest in email marketing.
Eye-opening Email Marketing Facts for Every Entrepreneur
- 80% of retail professionals claim that email marketing is their most significant driver of customer retention
- 81% of SMBs rely on email marketing for customer acquisition (Emarsys, 2018)
- Customized subject lines generate 50% higher open rates (Yes Lifecycle Marketing, 2017)
- Emails embedded with videos can increase click rates by 300% (Martech Advisor, 2017)
- 49% of consumers said that they would like to receive promotional emails from their favorite brands every week (Statista, 2017)
By now, it is evident that this channel can be the right choice for your business. To make sure you can achieve similar results, you need to know how to make the most of it, or else, you will be questioning its worth very soon. To help you out with this, we have created a list of five secrets that will help you develop an effective email marketing campaign.
How to make the most of email marketing for your business
Understand what your audience wants and segment them accordingly
Each customer is in a different stage in their buyer’s journey. Hence, you cannot send emails with the same content to all of them. Before hitting the send button, gauge your audience’s intent, and segment them into lists.
2. Optimize your emails for mobile devices
Your email might have the best content and design. However, if it doesn’t load on a mobile device, your efforts will go in vain. This is because 71 % of people delete an email immediately if it doesn’t display correctly on their mobile phone.”
3. Headlines can make your customers’ heads turn
And, you do not want your customer deleting your email right after reading the subject line. So, before coming up with a compelling copy for your email, start with an impactful headline. Keep it short, to the point, and fewer than 50 characters.
4. Be human, be personal
You are talking to a human being. Instead of sounding robotic, use personalization to tap into your audience’s emotions. Only when consumers feel connected to a brand, they will be interested in what it has to offer.
5. Don’t forget about the preview pane
Often individuals view the email through the preview pane and then decide to open it. In this preview pane, a customer can see just the text. So instead of focusing more on images, ensure that your essential details and Call to Actions are visible.
These are the five secrets you should implement while setting up an email marketing campaign. This is not it. To make sure your campaign does well, we have written a full blog that stresses on this topic. Click here to find out the rest of the secrets of using email marketing to its full potential.
Now that you have a brief understanding of this medium, let’s move on. The following pointers will help you learn more about social media marketing and how it influences your business.
What is Social Media Marketing all about?
As the name suggests, this channel of marketing focuses on promoting one’s brand through social media platforms. These platforms include Instagram, Facebook, Pinterest, Twitter, and YouTube.
Why do you need to invest in Social Media Marketing?
Initially, these apps were all about sharing birth announcements, pictures of food, and memes. So, naturally, marketers weren’t sold on investing in this platform. However, the number reached 3.2 billion across the globe in 2018. As people started spending hours together on apps such as Facebook and Instagram, it became imperative for marketers to leverage this form of media communication. Are you wondering why marketers are shifting from email marketing to SMM? Here are a few figures that will help you get a better idea.
- 54% of users make use social media to research about different products (Globalwebindex 2018)
- By following a brand on social media, 77% of consumers say they are more likely to buy from that brand over another (Sprout Social 2019)
- 50% of consumers follow brands on SM to learn about new products and services
- 61% of consumers want brands to encourage purchases by creating posts offering discounts and other benefits
- 90% of brands increase brand awareness through social media (Hootsuite)
- Instagram Stories are seen by 400 million daily active users (CNBC)
- Businesses can reach out to 605.4 million people through LinkedIn advertisements
Now that you know why this medium is more relevant than ever, let’s understand how you can use it for your small business. This is because being on social media is more than just selling out your products. It is about building an audience, connecting with them, and growing your brand with them.
The Rookie’s Guide to Building a Brand using Social Media
1. Define your audience
There are several social media applications to use for your business. But, not each one of them is going to bring you the same ROI. Hence, you need to find out which platform is used by your target audience the most.
For instance, millennials tend to use Instagram much more than any other social media app. In contrast, Gen Xers’ go-to platform is Facebook. Understanding your audience will help you decide which platform you should opt for.
2. Build a visual identity
Let’s consider your prospects are Instagrammers. Now, they aren’t going to come to you on the first day you create an account. So, focus on creating a visual identity that translates your persona. What do you want customers to think about your brand when they look at your posts? How do you want to interact with them? Think about the logo, font, colors, images, and every little thing that can appeal to your audience visually. The best way to do this is by analyzing and taking inspiration from your competitors.
3. Define your short-term and long-term goals
Before posting anything, ask yourself: why am I doing it, and how will this post help my business in the long run? For instance, your post is a picture of your logo. Now, the goal behind posting this could be making people aware that you are on Instagram. Second, this could help with brand recognition.
4. Create a theme
For a platform whose main focus is aesthetics, you need to ensure your profile has a unique style or theme. Some brands use one color family throughout the account. Others incorporate a quick tip after every two posts.
You can use preview apps, which will help you understand how your feed will look. By using such apps, you can create a pattern and ensure your account looks uniform. Here’s an Instagram business profile, Foundr, who uses a pattern that stands out.
5. Create valuable content
Social media users have a very short attention span. If they do not like what they see within 2 seconds, they will scroll up. So, you need to create something that will draw their attention and keep them hooked. Users will only spend time on a post or video when it is:
Once you post consistently and engage with your users, they are more likely to be interested in your business. This will eventually help you build a larger target audience and gain more customers. Isn’t that the goal of every marketing strategy, anyway?
Email Marketing Vs. Social Media or Email Marketing & Social Media?
Till now, we have examined:
- What is email marketing?
- Why do you need email marketing?
- How to make the most of email marketing?
- The meaning of social media marketing
- Why marketers should focus on SMM
- How to build a brand on social media
Now, comes the next question, which one is better for your business? Well, there is no ‘this or that,’ but ‘this and that.’
Both of these channels serve different purposes but benefit your brand in the long run. Let’s understand how.
Through social media posts and ads, you can build a relevant audience and inform them about your business. With email marketing, you target this audience and encourage them to use your services.
Next, you can send emails to your prospects and request them to follow you on social media. If they do, you can reward these followers with a special discount. This will not only help you get more followers but also increase your revenue.
Also, you can host contests and giveaways on your social media handles. Ask for your followers’ email address in exchange for an entry. This will help you create an email database and target users who are already interested in your brand.
Another way to build brand identity and presence is through consistent marketing communication. By this, we do not mean you should send emails and create posts every single day. Take the back seat for a bit and think about your customers. They aren’t shopping only from your brand. They probably receive 100+emails per day. So, create a sense of identity by being uniform. Make sure all your marketing communication follows the same brand guidelines.
Now, let’s talk about numbers.
Which offers a better ROI?
When it comes to gauging the overall return on investment, email marketing wins this battle. A source mentioned on OptinMonster claims that you get $44 back for every $1 you spend – a 4400% ROI.
This does not mean you should completely rule out social media from your marketing strategy. As mentioned earlier, this channel also helps businesses in a variety of ways. Unfortunately, there is no predetermined way to track its ROI.
Well, that’s all you should know about the two very popular forms of marketing. Remember, both of these mediums aren’t the same. So, instead of using them as replacements, try to create a marketing strategy where both of them can work hand-in-hand. Hopefully, our blog has helped you understand both sides and make a well-informed decision.
SEE ALSO: Top Social Media Trends for 2020
If you have doubts or suggestions about this blog, feel free to comment below. Stay tuned with iTMunch for similar blogs about Marketing, HR, Finance, AI, and more.