2016-12-02 00:00:00 Growing a Business English Email is not only one of the cheapest ways of marketing to your customers — it can also help drive revenue growth and build customer... https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2017/10/Woman-at-small-business-home-reviews-email-lists.jpg https://quickbooks.intuit.com/ca/resources/growing-business/why-should-small-businesses-build-their-email-lists/ Why Should Small Businesses Build Their Email Lists?

Why Should Small Businesses Build Their Email Lists?

2 min read

Email marketing has become one of the best methods of driving revenue growth for small business owners. People who have provided you with their email address have essentially given you permission to market to them, and you should take advantage of it. Email marketing can not only help sell additional products and services to existing customers, it can also help build loyalty. Here are a few reasons why your business should be running email marketing campaigns if it isn’t already.

Low Cost

If you only have only a small marketing budget to work with, an email campaign is likely the best way to go. An average email campaign costs a fraction of what advertising through the print media, telephone, or by mail costs, and can yield comparable results. Using email to reach your current customers, subscribers, and prospects is one of the most cost-effective ways of getting your name out.

Increases Loyalty

Email doesn’t have to be just a way to sell stuff to customers. It also serves as a great way to deliver valuable information to your customers for free. For example, weekly newsletters can keep your customers up to date with what’s going on with your company or industry. You could also deliver helpful tips, ideas, and coupons to customers just for signing up to your email list. Providing customers with something for free just as a nod of appreciation for their business can be great way to build long-term customer loyalty.

Improves Targeted Marketing

Email marketing is cheap in itself, but building an email list allows you to be even more efficient with your marketing dollars. People who subscribe to your email list are already likely to be interested in what you offer, so you don’t need to spend money reaching out to people randomly. If you’re able to capture any additional information during sign-ups, such as age or gender, you can craft messages specific to a targeted audience. An accountant, for example, may send an e-mail titled “Are You Prepared For Retirement?” only to people age 50 and older. Targeted marketing efforts tend to greatly improve your budget’s return on investment.

Easy to Track Results

In marketing, determining exactly what caused someone to become a customer is notoriously difficult. If you’re playing ads on the radio, sending mail and even getting referrals from others, calculating the actual return on a marketing campaign can be a challenge. With an email campaign, it’s somewhat easier. If your email message includes clickable links, you can verify how many people opened the email and browsed it. If you have links for discount codes, products, or how-to guides, most email marketing software packages can tell you how many people clicked on the link and how many of those clicks resulted in a transaction. The result is a more accurate read on how much business your marketing is generating.

References & Resources

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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