When the going gets tough, the tough get going. For some in the Real Estate business, trying a new approach in tough times involves using social media such as Facebook or writing a blog. However all put extra emphasis on staying in touch through e-mail marketing.
Off line methods of marketing and promoting tend to involve significant cash budgets so Email Marketing is certainly A Wise Choice for Tough Times.
Email marketing offers many advantages over other types of advertising.
- You can target your audience at a lower cost than, for example, print ads. Email is also a less expensive option than mass mailing.
- It is easier to track your email marketing ROI (return on investment) than with other forms of advertising.
- You can bring your message to the customer, instead of having to wait for them to pick up a magazine or visit a website in order to see your ad.
High Email Marketing ROI
In a study done by the Direct Marketing Association in 2007, advertisers achieved an ROI of $48.34 for every dollar spent and that has declined slightly in 2008 to $45.06. It is still a much better investment than some other forms of advertising including catalogs which had an ROI of just over $7.00 in 2007.
Because email marketing has this high ROI with a relatively low cost, it is a good choice even for businesses that are cutting back on their marketing budget. That is even confirmed in Hong Kong where SMEs turn to email marketing in tough times.
Businesses with a small contact list of less than a thousand recipients can easily launch a DIY campaign with affordable, marketer-friendly "hosted" systems like Campaign Monitor or Constant Contact, which costs as little as US$0.01 per recipient and not worry about software license, hardware or deliverability.
Large corporations with hundreds of thousands of recipients and requiring data privacy or sophisticated integration would opt for "enterprise-level" proprietary solutions to carry out large scale, frequent campaigns.
In fact for any size of company it is important to have a good opt-in database of likely prospects. By choosing the right e-mail database company, they can provide the most effective resources for all direct mail and telemarketing needs. Lists can be tightly focused and can cover either say US businesses, or US consumers in a given regional area.
If tough times encourage companies to be using more effective methods such as e-mail marketing, then the resulting benefits will continue once the good times return. It is one upside on having to endure and survive such difficult times.