For many entrepreneurs, Email marketing has already proven itself again and again. Still, there are so many websites without an optimized email lead generation system and strategy. There are hundreds of ways to generate leads for your e-commerce store. So why is email such a popular choice? And why should you invest time in setting up such a strategy and a system? In this blog post, I will walk you through the benefits and downsides.
One of the most significant benefits of email lead generation is that it is ranked #2 when it comes to conversion percentages in the e-commerce space, just under SEO.
So email has a high conversion rate, but why?
The main reason is that people prefer email over any other digital form of communication. There are different reasons for this. Think about the fact that with email, you decide whenever you see the mail, instead of the ads shown on social media. In addition, people voluntarily choose to have a subscription to your lead program. Meaning that they are more willing to view and read the information in it’s entirety because they choose to receive it.
Abandon Cart Conversion
Another way email lead generation boosts your conversion is through the so-called ‘abandoned cart emails’. The abandoned cart email will be sent to your customers after they have put a product in their shopping cart and left your store without making the purchasing or removing the item from the cart. This email often contains a gentle reminder of the product in the cart with a text that reminds them of their step towards purchasing your product. Many plugins will provide this system to your store like Shopify’s MoonMail Recover Checkouts. The only downside of this system is that the customer needs to have an email on file. If they are a new visitor the email cannot be sent.
Combine advertising with email lead generation
Take a look at one of the most challenging aspects of start-ups, and certainly something bigger companies keep a close eye on; the budget. Advertisements often seem to be the quick solution to increasing sales, while this (with the right strategy) is true, it does cost money to make money with ads.
Start-ups tend to have a low budget, which usually will be spent on advertisements and growth. On the other side, bigger companies often have a limited budget to spend on advertisement, to keep the ads profitable, to keep the business growing and to pay the bills. So what makes email marketing important for both business sizes?
For start-ups and small businesses
Building an email lead list is vital to get your product noticed by potential customers. Not only will this ensure free (or very cheap!) marketing, it will also create steady interest. Besides all of the traffic coming from paid advertising, the email lead list will ensure that the people interested in your products will be notified of future updates on (new) products. This method is incredible cheaper than spending money on paid advertisements to attain new customers.
Due to their experience, financial situation and audience size, bigger companies have the edge over start ups. Through the vastness of their size and resources, larger companies can collect emails at a much higher rate. This accumulated email list of potential customers is priceless. Not only do the financials of keeping old customers greatly out way that of attaining new customers. With a targeted email list you can tap the same financial pool infinitely. How is this possible? With an effective email marketing campaign, companies can send customers through a system that last for weeks, months, or even years! Throughout this process the company releases content, hypes up new products and encourages people to buy. This method of communication starts to establish a level of trust between buyer and seller. As this trust continues to build, customers are more inclined to buy more products. Therefor, as long as the company maintains its reputation as a trusted company, the potential purchases of the email list will continue to rise as time goes on. Unlike the start ups, larger companies typically already have a reputation established allowing them to go through this whole process with ease because the audience has preexisting knowledge.
Here are some Tips on Google Small Business’ Youtube channel to guide you even furthermore.
So whether you’re just starting in the e-commerce space, or you’re already a seasoned e-commerce veteran, email lead generation is one of the most critical aspects of marketing for you to invest in.
Do you have a tip others definitely should know or would you like to give your opinion on this, feel free to let us know in the comment section below!