When you have a limited marketing budget, your best option is to consider marketing material that will get you the most bang for your buck. While TikTok is an exciting new way to market yourself, producing a TikTok requires a lot of investment and offers a minimal chance of success. Because of this, you should prioritize marketing strategies that provide a high return on investment or ROI.
Email newsletters offer some of the highest ROIs marketing can offer.
What To Consider About Return On Investment.
Essentially, return on investment is a measure of your profit, or how much money you make minus how much money you spend.
Before running your marketing campaign, you should think about your target audience, where to reach them, and what medium they would listen to most. For example: women are more likely to be on Facebook, men are more likely to be engaged in mornings, and a white-collar audience aged 30+ is more likely to open emails.
The “who, what, and where” are all important facets of your marketing strategy and they ensure you aren’t spending your money where your business or product will not be able to sell. Keep this in mind when you’re deciding if an email newsletter is right for you.
How much does it cost to make an email newsletter?
The first piece of ROI is the investment. Email marketing comes with a tiny price tag, especially relative to the newer waves of advertising. This price tag is because it’s much less labor-intensive to write a newsletter. You only need to write the content of the emails, plan for future emails and have a way to send them out.
❌There is no need for expensive, time-consuming, and labor-intensive video and photo production required in social media marketing.
❌There is no need for search engine optimization that makes blog posts successful.
✅The simplicity of newsletters is what makes them so inexpensive, but that simplicity is also what drives sales and loyalty from your customers.
Why is an email newsletter different?
Newsletters target a wide audience in terms of demographics, but the entire audience knows about your company already. This makes email marketing one of the best ways to market to the later stages in your marketing funnel. Because of this, you can focus on convincing people to buy or to buy again. Newsletters are a great way to build loyalty and convince potential customers to buy from seeing your product often. For consumers, newsletters are also convenient and easy to digest.
What is the estimated ROI of an email newsletter?
Some estimates put the ROI of email marketing at $36 for every $1 spent. This is one of the most impressive returns in marketing, and newsletters are the most common type of email marketing. Email newsletters are an incredibly cost-effective tool to add to your marketing arsenal.
Want to meet with an expert about starting a newsletter or an email campaign to reach more people? Book a consultation now: https://abaskmarketing.com/schedule