Marketing forms an essential component of business strategy. Your market share and customer loyalty, it all depends on how convincible your presentation is to the prospective customers. Market penetration is a daunting job, but sale promotion is imperative to maximize profits of the company and gain goodwill in the market. With the evolution of online communication, Email marketing has become a most cost-effective and impactful source of marketing. With increasing demand for the business, online portals have come up with the concept of dedicated inbox services for sales promotion activity. You can explore Jeff Lenneys Inbox Blueprint Review before considering it as one of your marketing options. As per a study shared in marketingland.com/knowing-audience-better-competitive-advantage-case-study-229974, market research and customer behavioral study establish the base for designing interactive and effective email marketing campaigns.
Let’s revisit the history of sale promotion activities. Traditional sale promotion options included displaying hoardings on the roadside, using of print media like newspapers and marketing to advertise about new launches, pamphlet distribution and conducting promotional roadshows and door to door visits. With the internet revolution, email evolved as a fast and convenient source of communication. Since it had no geographical limitation and was less time consuming, soon it gained popularity as the prime source of communication among people over personalized postal letters. Early it was identified as a lucrative medium of marketing by the prospective companies to reach up to their customer base, and that is how email marketing came into being.
Some of the prominent benefits of email marketing include:
• More significant returns on limited investment- Since selling cost is the primary component of working capital for business, and saving on it can prove to be profitable for the company. In a business start-up or a small-scale setup, there are limited market budgets sanctioned. When compared to advertising and promotional activities which demands a reasonable chunk of the marketing budget, email marketing proves to be a cost-effective tool. You can reach diversified customer base and increase the probability of sale conversion at a faster rate through this option.
• Aids customer segmentation – Different types of customers have varied requirement; you may need to customize your marketing approach. You can classify prospective customers by their demand, demographic location, etc. Alternatively, depending on the feedback and queries sent through emails, you can also identify your marketing strengths and area of concern.
• Helps in creating reference database: Since marketing scenario is dynamic, you need to keep pace with the changing environment. This involves marketing research and customer behavioral study. Email marketing provides an efficient and reliable source of information for the above. Customer communication and feedbacks are safely recorded in this specific marketing tool. You can always refer to records to safeguard the legal interest of the company.
• Faster and economical advertising mode: Unlike other sale promotion measures, where massive cost is involved, you can quickly design the online catalogue mentioning the salient features of your product more attractively and cost-effectively.
With globalization, digital marketing has gained broader acceptance in the market space and email marketing predominately form the core of the marketing activities. It offers the transparent and genuine communication platform to the parties involved.