Email Marketing: Why It’s A Must-Have For Online Retailers
Do you want to increase sales and grow your store’s revenue? Today, discover one of the most effective channels for acquiring customers. In this episode, and all the episodes to come, you’ll discover how to increase sales by 15-30% with email and lifecycle marketing.
In this episode, you’ll discover:
- discover why email marketing is a “must have” for any online retailer who is serious about growth
- the fastest email acquisition trend in e-commerce (plus, how to use it yourself to grow your database rapidly)
- the customer lifetime value of email marketing compared with other channels, including Twitter
- the average ROI on email marketing per dollar spent (this will blow your mind)
- why “email is dead” is a complete and total lie
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Welcome to ReEngager Podcast for online retailers and e-commerce stores. You’re about to discover how to increase sales by 15 to 30% or more with email marketing. If you’d like to learn more about ReEngager and how we help online stores like yours add millions to the bottom line, go to reengager.com. That’s reengager.com.
Hey there, I am John McIntyre, and today I’d like to welcome you to the very first ReEngager Podcast. Now the goal here is to provide amazing information, great information on email marketing. But not just email marketing for anyone, it’s email marketing for online retailers. Now this is going to be life cycle marketing. This is going to be manual promotions or blasts, as some companies will call them. This is going to be everything from A to Z, email marketing for online retailers, okay? And the outcome here is to help you increase your stores revenue and sales. Whether you own it yourself, whether you’re the entrepreneur. Or maybe you work in the marketing department?
The whole idea here is to give you the tools, give you the ideas that you need to increase sales with email. Because I’m a firm believer, I am a huge believer in the power of email marketing. I’ve seen it with clients again and again and again. They’re able to increase their revenue by 10% or 20% or 30%, when they implement an email marketing program.
Now, where this gets exciting is if you have a store that’s doing 2 million dollars a year, which is a relatively small store. You go and implement a program like this, you’re looking at 200 or 400, 5000 dollars in additional revenue – just from email marketing. Now if we go all the way up to stores doing 10, 20, 50 million dollars say – let’s say a 50 million dollar store. 20% improvement there with email marketing is going to end up being 10 million dollars, okay? So this has huge potential, and the bigger the store is the more potential it has. So that’s what I’m here for. I’m really excited, I hope you’re excited too.
So, like I said, it’s for big and small stores. This is for billion dollar stores, and people just getting started, okay? Now what I want to provide for you, and what you’re going to get out of, out of listening to this is nitty gritty tips, tricks, tactics – and some interviews as well. I want to get down to the actionable stuff that you’re going to be able to use to increase revenue. Sometimes, it’ll be a step by step guide on how to set up a certain type of campaign. Other times, I’m want to interview successful entrepreneurs – successful e-commerce entrepreneurs, and find out what makes them successful. Now, I’ve done a podcast before, and I do have a habit of going off on tangents sometimes. And I do like bringing people on and having a conversation, where we don’t always talk about email. We go into what’s their reason why? And that’s a, that’s something that’s going to come up next, in the next show.
But today, today I’d like to talk about, just to kick things off, right? Instead of getting into the nitty gritty and to sort of the, into the trenches right away – I’d like to go broad strokes, and look at why is email marketing worthwhile? Because you might be wondering. You might think, “Well it probably doesn’t work for me.” Or, “It’s not going to work for our company.” You just haven’t gotten around to it yet. Okay, now the other thing I just forgot to mention is, that all of these are going to be about 10 minutes each. I want to keep them short and punchy. So you can drop in, get some value – go off and get into the day. Because I know just as much as you do, the business is busy and we don’t – none of us has time to listen to countless things. And we just don’t, we wouldn’t get anything done. So, 10 minutes, the interviews will be a little bit longer than that. But these short ones will be 10 minutes.
Now today, I want to talk about why email marketing is a must have for an online retailer who’s serious about growth. In the future, like I said – future, we’ll be talking about Specific campaigns, specific campaign suggestions and explanations, some software recommendations. We’ll talk about – we’ll find out if personalizing your emails makes a difference in conversions. Find out which offers are more effective than say discounts. And also hear about one of the fastest email acquisition trends in e-commerce, and how to use it yourself to grow your database rapidly. Now this is all towards this goal of growing your revenue. So let’s keep going on with it.
Quick, quick, quick. The awesome stats. What I’ll do too is, I’ll finish up at the end of this with a little bit about who I am, just so you know that I know what I’m talking about. So let’s get into it. Did you know that there are 3.1 – 3.2 billion email accounts today, okay? In less than one year, estimates report that there’s going to be a billion more. Okay, now this is crazy. So we’re not talking about like– Basically everyone who’s on the internet has an email address, okay? Now everyone goes– I think this is really interesting, because people go on about social media, Facebook, Twitter. Everyone’s – social media’s the rage right now. There’s billion dollar valuations with these companies. And so a lot of companies seem to think that social media’s where you need to be.
But if you think about it here, there’s going to be more people with email accounts than people with Facebook accounts for example, okay? So it’s going to be easier to reach them. And when you’ve got 3.2 billion email accounts today, and then another billion more coming online in the next 12 months – that’s a lot of people that you can get in touch with, okay?
So some say email is dead, and they’ve been saying it for years. They’ve been saying it for the last 10, 15 years, “Email’s dying out, and it’s just not going to work anymore. No one responds,” or anything like that. But that just couldn’t be further than the truth, okay? Now get this, email now accounts for more than 7% of all e-commerce user acquisitions, okay? It’s the second most effective acquisition channel behind search at 15.8%. So what that’s really saying there is that, email marketing – far from being dead, it’s actually the second most effective way that e-commerce stores, that online retailers have of acquiring customers.
So, let’s put it this way, there’s a lot of stores out there that don’t use email, that don’t have an email marketing program. Or maybe they’re only doing a monthly promotion or a weekly promotion. Can you imagine how many billions of dollars are not getting made right now by those companies who aren’t either using email at all, or are really just doing a poor job of it? They’re neglecting the second most effective acquisition channel, just out there, period – okay?
Here’s another interesting fact. Customer lifetime, value of customers acquired through email is 12% higher than average, okay? So whatever the average is across, across all the different channels that you can use to acquire customers, email’s 12% higher than average. Now to put that into perspective, Twitter, if you acquire a customer via Twitter, the lifetime value is going to be 23% lower than the average, okay?
Now finally, and this is one of the most interesting, powerful stats that I’ve, I’ve heard of. It’s no– Given all these numbers here that we’ve, that I’ve mentioned here, it’s no surprise that the average return on email marketing is – get this, $44.25 for every dollar spent, okay? So we’re talking about a 44– A 4400% ROI, return on investment, okay? It’s incredible. And I hope that by now, after I’ve explained some of the other stats above – that you’re with me on this. That you can agree and you can see the power here, okay?
Now this is really all I wanted to touch on today, because I just wanted to hammer home before I get into – before we get into here, the nitty gritty stuff of email marketing. What you can do today to grow your store. I really wanted to make sure that you know that there’s potential here. That this isn’t just some fly by night tactic. That this isn’t just a, a social media fad. That this is a legitimate marketing channel, and it’s one of – the second most effective marketing channel that you have at your disposal.
So if you are neglecting it, if you are not using it, you are doing either your company, because you own it – or the company that you work for, a huge disservice. And on the other hand, if you take advantage of this, you’re going to have a lot more money to play with – if you’re the entrepreneur. Or, you’re just going to look like an awesome marketing director, or whatever your role is – happens to be at a company, okay?
So email marketing is extremely important. Now, I’ve got 2 minutes left before I hit the 10 minute mark here. So I’m just going to touch on a couple of things. Next week, or next, next show – next episode. It would be on the site as of – right now actually. Is with David Wolfe, who’s the CEO of Leesa Sleep. Leesa Sleep has reached a 45 million dollar valuation in just 8 months. They won the Shopify competition. A bunch of them went to Necker Island to hang out with Richard Branson. And so they’ve been very successful, very, very quickly. So I wanted to get David on the phone, and to find out why, okay? And we talk a little bit about email, but we also drilled down into the very specific things that he feels makes Leesa successful. He also brought his marketing director along for the call as well. So we’ve got 2 people there over at Leesa, who are going to tell us – or who have already told me, and I’m going to be telling you how they’ve done it, okay?
Now lastly, just wanted to touch on – who the hell am I? ‘Cause you might not, you might not have heard of me. This might be the first time you’ve, you’ve listened to anything I’ve put out. First thing is, I created the McMethod Email Marketing Podcast. That’s a podcast on email marketing on another website, which has over 200 000 downloads now – and counting. So I’ve interviewed 120 of the top experts on email marketing around the world for that podcast. I’ll have a link to that in the show notes at ReEngager here. I’ve also taught and mentored 300 copywriters and marketers through the educational training programs I’ve put out. And I also wrote the Amazon Best Seller, “Email Marketing: 63 Money Making Insights From the Wildly Popular McMethod Email Marketing Podcast.”
Now the – basically what I’m trying to say with all this is that, I’m an email marketing expert. I’ve been in this field for about 4 years now, and I’ve put out a ton of content here. And now I’m focusing in on e-commerce email marketing, and that’s what ReEngager’s all about. That’s what this podcast is about. That’s what the service is about, okay?
Now, glad you showed up for this. I hope you’re going to tune in for the next show. If you’d like to get the – any of the links mentioned in today’s episode, go to reengager.com. You’ll find the show notes there in the podcast section. And you can also reserve a strategy call, or use our ROI calculator. So, I’ll see you next time.
Hi there, thanks for listening to the ReEngager Podcast today. If you’d like to discover more about email marketing for online retailers and e-commerce stores, go to reengager.com. That’s reengager.com. Use our ROI calculator to find out how much you could increase sales with email marketing, or book in for a free strategy session with a ReEngager email marketing expert. Get started now at reengager.com. That’s reengager.com.
Intro music by DJ Rkod and George_Ellinas.