How Much Does Email Marketing Cost?
Email marketing is an effective marketing resource to reach your prospects and customers on a consistent basis to create new leads and repeat business for your company. In this article, we will discuss the cost of email marketing, the platforms to use, and the typical return on investments (ROI).
Email Marketing Cost Factors
Size of email database
The size of your email list is a major factor in the cost of email marketing. The larger your database, the more expensive it is to send emails to everyone. You’re also more likely to get a response with a larger database.
Here is the cost breakdown for the popular email marketing platform Mailchimp:
As you can see the number of monthly emails you want to send affects the cost of the plan you select. If you are just starting out, the free Mailchimp account is a great deal in our opinion.
There are other factors to consider when it comes to the cost of email marketing however.
Email Marketing Features
The cost of email marketing can range based on the features you want. Email marketing is a great way to engage with your customers and build trust. The more features you incorporate into your email campaign, the more expensive it will be.
Some examples of common features that may come at an additional cost include automation (i.e., triggered emails) and workflow sequences. For example, you may want to send out 3 emails, but if someone responds to the first one, you may not want them to get the following 2 emails. This is an example of a workflow sequence that you would pay extra for.
Once automation for cleaning companies or other service businesses is a reminder email after 3, 6, 9 months from their last service.
A person to make emails consistently
Someone to actually make the emails. You’ll need to pay someone to do this for you if you are not tech-savvy or if you want professional marketing material. They can track the progress and write subject lines that get more clicks, so your emails have higher open rates.
Tracking the reporting will help them figure out which content is working best for people—so when they send out their next email, they’ll know what messages are most likely to be effective.
This is especially important for cleaning companies because you need to stay top of mind with your customers and touch base frequently.
A person to design the emails and write the content
The email designer will create the graphics inside your emails. These include things like buttons and links, images, and other visual elements that help drive home the message of your email.
The copywriter will write the copy for your email campaign. This is how you use words to make people take action—by clicking on a link or visiting an online store, for example. A good copywriter knows what motivates consumers and can create an effective call-to-action (CTA) that drives people to buy whatever you’re selling so they can get what they want as quickly as possible!
Email marketing is an economical way to reach a large audience
Email marketing is a great way to reach a large audience, and it can be quite affordable. When you compare the cost of email marketing with other types of advertising, it becomes clear that this channel is one of the most economical ways to reach your target audience. You also have complete control over what content goes out in your emails — your customers will receive only what they want to see in their inboxes.
It’s important to keep these benefits in mind when planning an email strategy:
- Email campaigns are affordable
- They’re easy to automate
- You’ll get real-time data about performance
Popular email marketing companies
- Omnisend – $30/month for 1000 subscribers
- MailChimp – $10/month (and free if you have less than 2,000 subscribers)
- Constant Contact – $15 (and free if you have less than 1,000 subscribers)
- Active Campaign – $9.95/month (for up to 20K contacts)
- Sendiblue – Free up to 10K contacts with no ads or branding
Email marketing return on investment
When you send out an email, you can see how many people opened the email and clicked on something. You will also be able to see if people go to your website and turn into a lead or call you right from your email campaign.
Typical return on investments we see from email marketing campaigns are:
1000 emails
20-30% open rate | 300 people see your email
2-10% click-through rate | 20-100 clicks to go to the website or call you
1-5% lead conversion | 10 – 50 leads from the 1000 people
If you don’t already have an email list, it might be worth the investment to start building one.
If you don’t already have an email list, it is worth the investment to start building one.
There are different ways to do this:
- You can build your own list or use a service like MailChimp or Constant Contact. These are both free options (which means no upfront cost), but they’ll also offer limited functionality and may not give you the full range of options that a more robust service would provide.
- You could also hire digital marketing agency, who will help you set up and manage your email campaign so that it’s personalized and relevant, cost-effective, and effective at driving sales opportunities.
Do digital marketing companies do email marketing?
Email marketing is one of the most effective digital marketing strategies. It’s a great way to reach your audience and build relationships with them, which can lead to sales.
If you’re going to use email marketing, it makes sense to consider hiring a digital marketing company that specializes in this type of campaign. Your company will have all of the resources it needs for creating an effective email campaign, as well as managing it and measuring its success over time.
Set up a free 30-minute strategy session with a Phlash Consultant here and discuss your marketing ideas.