Email marketing has become a pretty popular way of promoting products and services. Marketers are using the email platform to send out regular marketing emails as well as transactional messages regarding orders and deliveries. There’s also the option to use email to send out content that is relevant to one of your other platforms (like social media).
So how much should you charge for an email marketing campaign? What are you supposed to charge and what are you actually worth? Let’s examine the variables that can affect the cost of an email marketing campaign.
Cost Of Living In Different Areas Of The Country
First, let’s examine the cost of living in different areas of the country. The cost of living in major cities can be very high. For example, the cost of living in New York City is around 25 percent higher than the national average. The opposite is true for some smaller towns. For example, the cost of living in Burlington, Vermont is about 10 percent lower than the national average. That means if you want to keep your expenses low, you should look for a smaller town or a lesser-known city.
Peak Seasons And Off-Peak Seasons
Another consideration is what seasonal trends and what are the off-peak seasons? For example, a hotel in Florida may want to avoid publishing a Winter vacation package because there aren’t a lot of travelers interested in warm weather destinations during the winter. So, they may choose to publish in the spring or summer instead.
Content And Platform Awareness
Another thing that can affect the cost of an email marketing campaign is the content and platform awareness of the person receiving the email. If the person is not familiar with what an email is, how can they understand and benefit from your email marketing effort? You can assume they’re not going to read your email and click on the links you include in the email. If they don’t know what an RSS feed is, how can they understand and use the content you send them? Platforms like MailChimp and Constant Contact make this easier by offering ‘silo’ awareness so you can target the right audience on different platforms (like mobile, desktop, and web).
The Larger The Audience, The Higher The Cost
The larger the audience, the higher the cost. This is important to consider because the larger the audience, the more expensive it is to acquire and retain them as customers. So, if you’re looking to gain new customers, you can expect to pay more for each of them than you would for a smaller audience. This is because you’re essentially paying for advertising space in major search engines and social platforms.
Dedicated Contracts Versus Commercial Accounts
Another key consideration is whether you want to go with a dedicated account or a commercial account? A dedicated account is when you sign up with an email marketing service provider and only use their services for marketing purposes. A commercial account is when you use a commercial email service such as Bluefrog Marketing to send out email marketing campaigns for profit. Bluefrog Marketing is a popular choice among small businesses because it is very affordable and offers discounts for bulk purchases and for teams of 5 or more. So, if you’re just getting started or are looking to cut costs, consider going with a dedicated account.
How Big Is Your Audience?
The next step is to consider how big your audience is. This affects the cost of an email marketing campaign in two ways. First, the more people you have on your mailing list, the less you’ll have to pay to send out your emails. Second, the more people you have on your mailing list, the more people you can send the email to and receive responses. The more people you have on your mailing list, the higher the chance you’ll have someone interested in your offer. The more people you have on your mailing list, the more attractive your email will look to potential customers.
How Old Are Your Audience?
The age of your audience is also a factor that can affect the cost of a marketing email campaign. If you want to target adults, you can expect to pay more than you would for a younger audience. This is because most email marketing platforms offer higher prices for adult audiences. If your goal is to generate more leads from people who are already customers or followers, consider a younger audience.
So, if you’re looking to cut costs while maintaining high delivery rates, consider sending your emails to people who are already familiar with the platform or have bought your product or service before. That way, you’re not necessarily paying for the privilege of reaching a new audience. It’s also a good idea to set a pricing range for yourself so you don’t undercut your competitors or give away too much for free.