Why SaaS Startups Should Get on the Email Marketing Train
— written by Basit — 5min read
Let's walk through why email marketing is the answer to true business growth on the internet today.
Many new SaaS startups follow the conventional path of marketing their products and services through Social Media/SEO/Affiliate Marketing etc when they launch and often overlook email marketing until much later.
Social media marketing campaigns that are done right can perform quite well with some advantages like being able to easily reach a big audience, targeting a specific demographic of audience, etc but there is one thing missing on the social media marketing side, and that is a personal approach.
Allow me to explain.
- Email marketing allows businesses to understand the type of personality their subscribers have and then tailor their emails according to interests, likes, and sometimes even the mood of the subscriber with segmented lists to turn a subscriber into a customer.
- Social media, on the other hand, can offer traffic, signups, engagements, and even sales but no customers.
Let's list down some statistics which give us an idea of the potential that Email Marketing has:
- According to a Statista report published recently on 25th March 2020: "The number of global e-mail users amounted to 3.9 billion and is set to grow to 4.48 billion users by 2024."
- Superoffice announced that they were able to achieve a 94% email open rate which proves that with the right approach, you can get your message to just the perfect customer resulting in reliable conversions.
- An insight study by Mckinsey stated: "E-mail remains a significantly more effective way to acquire customers than social media - nearly 40 times that of Facebook and Twitter combined."
- After in-person marketing, Email remains at 2nd place for conversion according to the study "B2B marketing channels most effective in driving conversions U.S. in 2019."
These are just some top-of-the-pond statistics from many more in-dept ones that prove the potential of email in every field.
If we look at brand success stories, there are many but to highlight one of my favorites is this one by Sleeknote on how they increased their engagement by telling stories in their emails.
They were able to see an increase of 123.74% on open rates and 63.15% on click-through rates just by simply telling stories.
This highlights the great factor of a personal approach in email. An email is a personal letter to your subscriber, you can tell them stories, invite them to events, get their opinion on something or do anything closely relating to human nature.
So, go ahead and dive into the magical world of Email Marketing. Just be sure to take advantage of the personal approach factor of email and make it unique to your brand.
Let's conclude this article with a quote from David Mihm, founder of Tidings.
" You own your email list, you own your subscribers. You're not renting them from Google, Facebook, Instagram, Twitter, or any other platform. "