Introduction – How Much Does Email Marketing Cost? 10 Amazing Statistics For Success
Some people even claim that email is the best way to reach customers these days because it’s so easy and inexpensive to use.
But how much does email marketing cost? How much should you expect to make from your campaigns?
In this blog post, we would like to talk about email marketing.
We want to help you understand how much email marketing costs and how much you can expect to make from it in your business.
Email marketing is a great way for small businesses to stay connected with their customers and has many advantages over other forms of advertising because it’s more targeted than TV commercials or billboards.
To start off, let’s talk about why you need to use email marketing in your business then answer the all-important question of: “How much does email marketing cost?”
- Introduction – How Much Does Email Marketing Cost? 10 Amazing Statistics For Success
- Download Our Free eBook
- What are the advantages of using email marketing in my business?
- How much does email marketing cost?
- What Influences The Cost Of Email Marketing Software?
- How Much Can I Make From Email Marketing In My Business?
- How Can I Multiply My Email Marketing Returns By 10?
- Some Important Email Marketing Statistics In 2021
- High-Converting Email Marketing Strategies For My Business
- Conclusion – How Much Does Email Marketing Cost? 10 Amazing Statistics For Success
Download Our Free eBook
What are the advantages of using email marketing in my business?
Email marketing is a great way for small businesses to stay connected with their customers.
It allows you to keep your brand front of mind without the cost of live interaction or other forms of advertising that can be costly and time-consuming.
Email marketing also leaves an email trail – meaning there’s proof (in the form of open rates, click-throughs, etc) showing what works best in each campaign so it’s easy to make adjustments going forward too.
This makes it easier than ever before for small business owners who don’t have a large budget and need more control over how they market their business.
There are many other reasons why you should consider using email marketing in your business.
One of these reasons is that email marketing has the highest Return On Investment (ROI) among all digital marketing media. It has an expected average return of $44 for every $1 invested into your marketing campaign.
Another advantage of email marketing is that there are varying price points that start as low as $0.
This allows even small businesses and startups to take advantage of its powerful features to start nurturing leads and converting them.
On average you should expect to make an average monthly return of $1 for every subscriber on your email list.
This means a list with 100 subscribers should make at least $100 per month while a list with 75,000 subscribers should aim to make at least $75,000 per month in average returns.
Email marketing is also a great way to reach potential customers on their own time and in their inbox. It’s one of the most direct methods for advertising, as it allows you to create personalized messages that address your target audience’s needs.
And because email campaigns are running 24/365 (making them very cost-effective), they’re always fresh and can be sent out again at any point if desired.
Studies also show that 99% of people check their email every day and email subscribers expect to be marketed to.
This is amazing news if you’re looking to increase your revenues with email marketing as it is the perfect opportunity to grow your business.
How much does email marketing cost?
There are many factors that determine the cost of email marketing, and each company will have its own pricing.
There is no single answer to this question without knowing a lot more about your business goals, customers, industry needs, etc.
What we can say is that with all other things being equal (i.e., the same number of subscribers), an email marketing campaign can be anywhere from $0 – $100 per month for most small businesses but can continue to increase.
Below we will give you the price points for various popular email marketing services:
Mailchimp is one of the most popular email marketing providers in the world and is very easy to setup and start using.
The basic plan starts at $0 per month for up to 2000 subscribers.
This Free plan is a great way for startups and small businesses to get into the action of email marketing without a huge upfront investment.
The Essentials plan (starting tier for paid plans) starts at $9.99 per month for up to 500 contacts and increases to $299 per month for up to 10,000 subscribers with the highest tiered paid plan called the Premium Plan.
Pricing can be higher depending on the number of subscribers on your list.
For example, the premium plan with up to 50k subscribers costs $640 per month while the Essentials plan for the same amount of subscribers costs $270.
FluentCRM is the most affordable email marketing service provider on the market and one of our favorite.
Fluent CRM is a WordPress email marketing plugin by WPManageNinja.
It gives you the ability to control your email marketing services directly from your WordPress admin area.
The pricing plan starts from $129 per year for 1 domain to $249 per year for 5 domains.
Hold your breath though, digital marketers, because you can get a license for 50 sites for $499 per year!
The beauty of this pricing model is that you get all FluentCRM features and unlimited contact for the price listed. You can also use the same subscription for multiple websites.
Active Campaign is one of the premier email marketing solutions available today.
It provides unique features and pricing plans to fit different sizes of subscriber lists, types of businesses, and websites from e-commerce, B2B, and B2C.
Active campaign is also a favorite among many of our colleagues who have aversed in the art of email marketing. The pricing plan for Active Campaign’s B2B, B2C, and e-commerce are similar.
For a list of 500 subscribers you can expect to start paying $15 per month for their Lite plan and $279 per month for the highest-priced and most feature-rich plan – the Enterprise plan.
There is a huge discount available if you pay annually.
What Influences The Cost Of Email Marketing Software?
There are a few factors that will influence the cost of email marketing for your business. You also have to keep in mind that every email marketing servicing provider has different pricing structures for its services.
The range of pricing for email marketing software can be as wide and varied as starting the starting plan being free at some companies while it’s as pricy as $1,000 per month at others.
Some of the factors that influence the price of your email marketing plan oftentimes include:
- How many subscribers you have on your list?
- What type and volume of content do you send out in each campaign or how often is it sent?
- What type of features do you need?
- Do you send or receive attachments in emails?
- How many recipients can your email reach at once?
- What’s the monthly volume limit per campaign on your service provider?
The more features and subscribers you have, the higher-priced plan that will suit your needs.
If this is information is not available to a potential customer they may be reluctant to commit to an expensive long-term contract without knowing what their needs are for now or down the line.
There are four types of content that people generally use when sending out campaigns: images, text, HTML code (or web forms), and video clips.
A lot of companies offer unlimited space for storing all these different document formats which costs extra money.
The price you will expect to pay a freelancer or company to handle email marketing for you can range from $100 on a Freelance website like Fiverr to thousands of dollars from other companies.
We offer you the opportunity to get an online presence complete with email marketing, a conversion-optimized website, and a 12-month marketing strategy that is managed and maintained by us for as low as $1,200 per month.
You can learn more by clicking the link in the image or visiting Cyber Sites home here.
How Much Can I Make From Email Marketing In My Business?
In the previous section, we briefly discussed how much money you can expect to make from email marketing.
Two of the most important metrics mentioned were the ROI of $44 for every $1 invested and that you should expect to make a monthly income of $1 for every email subscriber on your list.
You should also keep in mind that people often use email marketing as a supplement to their other advertising campaigns. But, how much can you expect to make from sending out an email campaign?
The answer to this question is not so easily answered because it depends on the pricing plan that your company decides upon and what type of content will be sent out in these emails.
The amount of money you can expect to earn from email marketing also depends greatly on the effectiveness of the marketing strategy that you are using.
Email marketing has been shown through studies conducted by HubSpot to increase brand awareness exponentially when compared with social media channels like Facebook and Twitter; one study found that up to 41% more people purchased after receiving an email from a company they’ve subscribed to.
We have prepared a marketing strategy for you and a guide to using email marketing to help you improve the results of your inbound marketing strategy.
Those tips and resources will be in the next section.
How Can I Multiply My Email Marketing Returns By 10?
There are a few things that you can do to improve the results of your email marketing campaigns.
Some of the things you can do to multiply your email marketing campaign results by 10 are:
- Increase your email marketing subscribers with these 40 tips & strategies: 40 Genius Ways To Increase Your Email Signups
- Use engaging and thought-provoking headers
- Include a call to action in the email. A simple “Click here” at the bottom of your email will do wonders for conversion rates and revenue!
- Add links where appropriate. This is especially important if you are sending an update about a workshop or product launch event, as users may be interested in registering right away but won’t know how without clicking on it.
- Always include social share buttons with CTAs at the end of each email you send so readers can easily tweet your content and get more subscribers through their networks – this also makes them feel invested in what you have written!
- Always provide massive value when sending out your emails or don’t send any emails at all
We have also prepared a list of resources to help you improve your email marketing campaigns and multiply your email marketing results by 10! You can find those resources below:
Some Important Email Marketing Statistics In 2021
In this section, we are going to provide some of the most important email marketing statistics that help you understand how powerful email marketing can be to help your business grow.
61% of email subscribers would like to receive promotional emails from the newsletters they are subscribed to at least once per week.
Email marketing has the highest ROI with an average expected return of $44 for every $1 invest in an email marketing campaign. That’s a ROI of $4200%!
Additionally, you can expect to make an average of $1 of revenues for each month for each subscriber on your list.
In 31% of email marketing cases, people who clicked on an email link made a purchase.
58% of revenues are generated by segmented and personalized lists.
If you expected to make $38 in revenue per 1000 subscribers or about .03 cents per subscriber then if you have 100,000 subscribers and your average order is $50 dollars then you will earn approximately $150,000 with an initial investment of around 50k.
Email deliverability rates are at 99%, so don’t worry too much about over-sending messages!
37% of respondents said that email is the best channel for improving customer loyalty
59% of B2B marketers prefer to use email for lead generation. It is 40% better at creating conversions than Facebook and Twitter.
It is also mainly used for lead generation, lead nurturing sales, and customer retention.
To get more amazing facts and statistics about email marketing for your business in 2021 read this article by Snov.io Labs.
High-Converting Email Marketing Strategies For My Business
Now that you are aware of the massive financial upside of using email marketing in your business we are going to discuss some email marketing strategies to improve conversions in your business.
You can increase marketing conversions with email marketing by using email marketing to:
- Improve brand awareness
- Improve customer loyalty
- Build better relationships with subscribers that lead to trust and higher conversion rates
- Increase the revenue per subscriber
- Supercharge your marketing strategy by giving you an easy way to get conversions for even the hardest to convert prospects
- Build a lasting relationship that will ensure your business has consistent revenues for years to come
- Promote online sales
- Promote offline sales
- Increase interest in your product
- Help in product and service development
You might be wondering how to get all these benefits from email marketing for your business.
To help you with this we have prepared a list of resources below to help you:
- 11 Email Marketing Best Practices 2021: How To Write Engaging Emails For Your Business
- 10 Helpful Email Marketing Tips For Dentists: Get Explosive Growth For Your Dental Practice
- 22 Powerful Email Marketing Benefits To Grow Your Business
- 3 Effective Sign-up Drip Campaigns for Effective Email Marketing Conversions
- How To Supercharge Your Inbound Marketing Results With Email Marketing
Conclusion – How Much Does Email Marketing Cost? 10 Amazing Statistics For Success
Email marketing is one of the most powerful and flexible ways for you to grow your business online.
It is an effective way to start growing your business online and can be done at a relatively low cost.
Email marketing is not only cheap but also offers the potential for massive returns on investment.
It’s one of the few methods where subscribers sign up and want to receive promotional content from you, which means it’s a great way for you to grow your business online.
We’ve touched on some of the many email marketing strategies that you can use in your business today, but there are so many more ways for you to grow your company with this powerful channel!
You can use email marketing features in your business today that will help your business to start growing online, like newsletters, autoresponders, or remarketing.
If you need help getting started or want our team of experts to create an email strategy just for your business, get in touch.
Our expert team will work with you one-on-one until we have created a plan tailored specifically for how you want to run things online.
Let our team help you set up an effective email marketing strategy today!