The email marketing industry was valued at $1.12 billion in 2020, and that number has only grown since. It is expected to grow even more in the coming years.
With the price that high, you can see that a lot of businesses are probably using email marketing to market their business. But how much does email marketing cost?
Is it worth it to learn more about email marketing?
The short answer: Yes!
Read on for email marketing tips and a guide to email marketing cost to learn more!
How Much Does Email Marketing Cost?
There are a lot of different elements that go into email marketing cost. From platforms and technology that you may use to help make your life easier with marketing to tools to gather more emails and other factors, it can really add up. But before we get into the numbers, let’s break it all down.
Email Service Provider
The first thing that you have to purchase when considering email marketing is an email service provider or ESP.
This is the only way your business can actually go about email marketing. Even more, these tools can help you with email automation as well as give you templates and other elements to spruce up your emails to make them look more professional. Not only that, but you will have ways to grow your email list and track how your emails are doing!
You want the best marketing software out there, so this can get expensive if you want the best one!
However, you can usually get a free trial to try it out! It’s important to know what elements of an ESP and marketing software you want in order to know if you are overdoing it or if you are going to have to upgrade in a few months as your list grows. Knowing this before you purchase is important.
Running the Email Marketing Campaign
This number is going to depend on how you go about running your email marketing campaign. If you do it yourself, it’s not going to cost you any money, however, it is going to cost you time as well as giving up other tasks that need to be done.
If you hire someone by the hour like a freelancer, this may cost you anywhere between $15 and $100 to do, all depending on their rates.
You could also hire someone else into the business to focus on email marketing specifically. This will be another added expense, especially if they are a salaried employee.
Design Work
If you want to keep your emails simple, this section doesn’t matter much. However, if you are looking to get better and more professional designs such as a logo put into your email, a fancy signature, or something else of the story, you will need to hire someone to do this.
Most likely, you will have a freelancer or a contracted designer do this for you. You can expect to pay by the hour or per project depending on the type of project you are asking for.
Why Is Email Marketing Important?
Email marketing is a powerful tool to improve and grow your business. If you want to learn a few benefits of email marketing, see below.
Build Relationships
Email marketing is important when it comes to building relationships. The more you communicate with your customers or potential customers, the more your business will be at the forefront of your mind.
If you send promo codes and discounts to customers, this will keep them coming back because they trust your brand!
Build Brand Awareness
While most of your emails will be going to your customer base, you can always build brand awareness by mixing up your call to action. For instance, if you want to expand your reach and build even more brand awareness, you can tell your customer to share the email with a friend to receive 15% off!
This will expand your reach through an incentive to them (which can also benefit you!).
Generate More Leads
While building relationships and brand awareness are two great benefits, one of the best parts of email marketing is generating more leads.
When you have a new product or service, you can send a blast email to all of your past customers who may be interested. This will result in more leads and more sales…and more revenue for your business!
Is Email Marketing Better Than Other Forms of Marketing?
Email marketing is a form of digital marketing. Each type of marketing has its own benefits to it, but one is not necessarily better than the other.
The one thing that matters is your consistency and what you use your marketing for. In all actuality, combining different forms of marketing may be your best bet for getting the most reach and generating the most leads for your business.
So to answer the question, email marketing is not better than other forms of marketing, however, it can drastically improve your entire marketing strategy when you put it in place.
Follow This Email Marketing Guide
With this email marketing guide, you know now the answer to the question ‘how much does email marketing cost?’. You also know the breakdown of the costs as well as how much these items may cost you.
Because you know the importance of email marketing, you don’t want to miss out on this simply because it may be a few extra bucks from the get-go. In the end, this will hopefully pay off!
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