It is the era of Building an Email List and small businesses. A lot of people are trying their hands at it. But not everyone can succeed. So, taking every bit of precaution and grabbing all opportunities is the minimum a business owner can do. They also need to learn and adapt to all kinds of tips and tricks. Having an email list is one of them. There are countless benefits of building an email list as a business owner but, here are some of the biggest ones that will convince you to do so immediately.
Loyalty
Loyalty is the step you need to step up from being a business to a brand. You need customers that are committed to you. Customers that are your brand advocates. Customers that you can count upon and those who will take you through thick and thin with constant revenue. Loyalty is important, not only from the business’s perspective but also from the customer’s perspective. Customers like to be assured about a specific brand and trust them to deliver the right results every time. They also love to get a particular appreciation recognized. That can be through a card on the birthday or through a special discount. They love feeling surprised and feeling special. But Loyalty is hard- both to earn and to manage. A small act of ignorance can cost you a loyal customer. Building an email list helps you with that. An email list enables you to do that.
You can prepare different types of campaigns and email funnels for each customer and every kind of situation. You can add your customers to your list and help them with the problems/statuses of their orders. You can also use email to notify or provide them with special offers. That will give them an extra reason to stay with your business.
Sustainability
Building an email list campaign is easy. And in terms of money, it takes minimal investment. However, any other form of marketing takes a lot of effort and money. Be it offline or online, acquiring new customers through advertising is not easy.
On the other hand, it is straightforward to sell something to your existing satisfied customers. You can send those emails, and even if the conversion rate is around 0.1%- even then, your cost per purchase would be lesser than any PPC/display campaign. At the start of a business, you need to build a customer base and get sales out of your advertising campaigns. But as you grow, you cannot sustain a massive cost per acquisition. You need to use your existing customers and get a share of the revenue from repeat customers.
Also Read: How to Build an Online Brand Community for Your Start-up?
Interaction
Marketing used to run off four pillars previously- the 4 Ps. Product, Price, Placement, and Promotion. And with the changes that the digital economy is bringing- those four pillars are changing too. The most significant of them is- promotion. In the older days, you just used different channels to communicate your message to the customer and promote your business. Nowadays, it is not the case. It has become more of a conversation than a promotion. Consumers have become vocal about what they want and what they do or don’t like. Email gives a good platform for just that. To promote interaction with the customer. You can ask for reviews, send question forms and ask for suggestions- all through email. This will not only make your customers feel empowered but also help you make better and informed decisions. Because, in the end, you will know what your customer wants from you.
Changes
Your business will change a lot. Technology will keep evolving and also because your business will also scale up to different levels. So, your business model might change; your advertising strategy might change. You might even switch your website from one platform to another. These changes can disrupt the revenue and the business. But you can try to keep certain things still and keep a bit of stability. You can do this by keeping your customers accounted for and informed. They are an asset for your business, and you need to utilize and preserve them through all different changes.
Also Read: How to find related keywords and How to use them?
Personalization
Email can also be seen as a part of the Customer Relationship Management platform. You can use it to talk about and solve a particular problem. You can, at any time, visit the records of a customer’s interaction with the business and track their behavior. You can use that data to identify their problems and to address them with a personal touch. You can use various tools to do so too. It helps to build trust among the customer.
Conclusion of Building an Email List
Building an email list is as essential for a business as having life insurance. It makes your sustainable business independent of the trends of advertising and marketing. It also helps you get some consistent revenue with low investment. Building an email list will also make the customer experience and journey better. You can try different personalization methods and email chains.
Interesting Read:
How to Sell B2C Products with Content Marketing?
The 5 Essential Digital Marketing Skills You Need & How to Get Them?
Ten Amazing Tips to Improve Organic Search Rankings on Google
