Email marketing is a type of digital marketing that allows marketers to send messages to customers through email. It is one of the most effective forms of marketing there is, and a lot of businesses rely on it heavily. The problem is that not too many people know how much they should be spending on email marketing, and a lot of businesses are wasting a lot of money without even realizing it. So let’s take a look at how much you should be spending on email marketing and what to look out for.
The Good, The Bad, And The Ugly Of Online Marketing
If you’re new to marketing, you may not know what all of this Facebook business is about. Simply put, online marketing is a form of marketing that only happens online. More and more businesses are realizing the power of digital marketing and how much it can do for their bottom line. With the right tools and some talent, you can take your marketing to the next level and make it more effective.
Now, let’s take a look at the good, the bad, and the ugly of digital marketing.
There’s a lot to love about digital marketing. From the ability to track the results of your marketing efforts to the many platforms available to promote your business. If you’re new to digital marketing, it can be a little overwhelming to know where to start. That’s why we’ve gone ahead and curated this list of the best tools that every marketer should have in their toolkit. So you can begin your digital marketing journey with confidence.
While there’s a lot to like about digital marketing, it doesn’t mean that it’s all good. Just like any other form of marketing, there are things that you need to avoid. Below we’ll discuss a few of the most important things that you need to keep in mind if you want to master digital marketing.
Last but not least, let’s talk about the ugly of digital marketing. Just like any other form of marketing, there are people who try to trick you and take your money. So it’s important that you’re always on the lookout for scammers who may try to trick you into buying worthless products that will cost you hundreds, if not thousands of dollars. It’s also important to remember that a lot of these products may come with some sort of virus or be a scam themselves. So it’s important that you scan the file before you open it, just to be sure that nothing bad is inside.
We’ll talk more about this specific issue in another article, but for now, just remember to be careful when it comes to online marketing. With the power of digital marketing behind you, you can take your business to the next level and ensure that you’re making the right decisions for your business’ best interests.
How Much Do You Spend on Email Marketing?
Now that you know the good, the bad, and the ugly of online marketing, let’s take a look at how much you should be spending on email marketing. According to HubSpot Blogs, the average household spends around $168 a month on email marketing. So if you’re a business that relies heavily on email marketing, you’re going to want to make sure that you’re spending the right amount of money. Luckily, there’s an easy way to find out how much you’re spending without having to keep track of every little detail yourself. Many businesses use third-party tools to help them keep track of their email marketing spend, and one of the most popular ones is Sumo. On their website, Sumo states that their free version provides all of the essential features, so you can take a look at how much you’re spending without having to pay a penny. Keep in mind that Sumo only provides you with the information for the last 30 days. If you want to see how much you’ve spent on email marketing over the last year, you’ll have to either upgrade to their premium version or find an alternative app that also keeps track of your spending habits.
What Is Your Email Marketing Strategy?
The next step is to figure out your email marketing strategy. Are you trying to acquire new customers by simply sending out spam emails to everyone you know? Or are you trying to build a relationship with potential customers by engaging with them on social media platforms? Once you’ve figured out what strategy you’re using, you can begin to build upon it.
How Do You Measure The Success Of Your Email Marketing Campaign?
Now that you have a clear strategy in mind, you can begin to measure the success of your email marketing campaign. Just like any other type of marketing, you’ll want to look at metrics such as:
- the number of new subscribers
- the number of engaged subscribers
- the number of people who opened the email
- the number of people who clicked on a particular link or button
- the conversion rate of those who opened the email
If you’re looking for a simpler way to measure the success of your email marketing campaign, you can always use a tool like Mailchimp to compile all of your email marketing metrics into a single report. With that single report, you can easily see the overall performance of your campaign, as well as the performance of each individual phase of your campaign (i.e. the outreach, the content, and the follow-up).
If a business owner or marketing manager is curious about how much they should be spending on email marketing, this post is for them. We’ll discuss how much you should be spending on email marketing, what to look out for, and we’ll provide them with an easy-to-understand overview of what digital marketing is all about.