I’m just starting my business and the choices for marketing vendors are overwhelming. What’s the best marketing channel for small businesses?
Email may seem like a dinosaur, but it is still a highly relevant marketing tool, especially for small businesses that sell services to other businesses (B2B). Email is an important marketing channel for the small business toolkit because it is targeted, cost effective, measurable, and direct.
Email automation tools that are financially accessible to small businesses (such as HubSpot, Mailchimp, and Constant Contact) enable small business owners to customize their marketing messages to sub-personas in a time-efficient manner. In its blog (2022), Forbes Magazine concurs: “Email lets you personalize your message in ways that social media can’t match. And email automation offers deep insights into your customers, which can be a convenient way to keep them engaged with your brand.” For the small businessperson – for whom time is the most important commodity – email marketing provides tremendous value.
At Zenagos, our small business CEOs track their Customer Acquisition Cost and learn that email marketing provides a terrific bang for their buck. According to Sopro’s (2023) recent whitepaper, the vast majority of B2B buyers prefer to be reached via email, and 59% of marketers believe that email is dramatically better at lead generation than paid social media and pay-per-click marketing. In short, email is affordable and has a strong Return on Investment (ROI) profile.
Email marketing is easier to measure than many other forms of outreach. Email automation tools provide a great deal of information for the small business marketer. For example, it is easy to obtain open rates, click-through rates, conversion rates, bounce rates, unsubscribe rates, and list growth rates. This information enables the small business to learn quickly and make adjustments to make content more effective and engaging.
Email marketing is more direct than social media marketing, landing right in the prospect’s inbox. As Jimmy Rodela of Motley Fool explains, “Among marketing channels, email marketing yields the highest return on investment (ROI) for the past 10 years. It also has the highest conversion rate (66%) for purchases made in response to promotional messages” (2022). Email marketing still works.
Email is not a panacea for every type of small business, but it is still a highly relevant channel and an important element that the small business CEO should consider. If you track your acquisition cost by channel and measure your ROI, the email channel may win a higher place in your esteem.
Related Blog Articles
Social media ads stopped working. What should I do?
Should I partner with other agencies to fill my pipeline?
Zenagos Expert Marketing Tip: Use Free Website Performance Tools
I’m running out of money; should I give up and get a job?
Can a consultant help me, and if so, how should I choose one?