There are lots of reasons that email marketing is one of the best investments any business can make for its marketing. Email marketing means you aren’t reliant on third parties like Facebook or Google, and it means you have direct access to your audience, right inside their inboxes!
But while all this is true, it’s also true that email marketing is extremely affordable. With a low barrier to entry and very few overheads, there are few reasons that a business might not be able to start collecting a list and sending messages. This is the internet marketing strategy with perhaps the best ROI of all!
But just how much does email marketing cost precisely?
On average it is estimated that companies spend anywhere between $9 to $1,000 on their email marketing campaigns. This is thought to take up roughly 16% of their marketing budget.
As you can see, this is a very small percentage of the total marketing spend! But it will still likely bring in a large amount of money.
The question you might now be asking, is where that money is being spent? What is the expense?
There are a few things. The first is an autoresponder. This is the tool you will use to build your opt-in form, as well as to collect emails, manage contacts, and send messages. You need an autoresponder of some kind to run a mailing list, and typically this will set you back anywhere between $15 to $200 per month (depending on the size of your list). Free alternatives do exist, but they are typically inferior products.
The next is a list cleaning tool. You’ll likely need to pay to use this on a few one-off occasions to remove faulty addresses from your list. It’s not an astronomical amount, but it will add up for a big list over time.
Finally, a lot of companies will use an email marketing agency – or they will pay for the service alongside other marketing services. This can be significantly more expensive, though if the company is good at its job, then the service should pay for itself!
As you can see then, a mailing list should never be an expensive proposition but it can incur a few different expenses. By being savvy, you can minimize even those and enjoy a massive ROI from this essential tool.
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