Email marketing is, by far, the most cost effective online marketing strategy around. A recent statistic I read shared that for every $1 spent, $44.25 is the average return on email marketing investment. (Source: Experian)
To utilize email marketing, however, of course you must have a list of people to send your emails to. In addition, you need to be continually looking for ways to get more strategic and creative about how you build your list.
Not doing so will really limit your potential for long-term success. Because, while your current contacts may be generating sales for you today, it’s possible they may outgrow your business. So having a cycle of new customers, clients, and prospects opting in to build a relationship with and sell to ensures that your business will remain profitable for months and years to come.
Plus, as your contact list grows, you’re expanding to reach more people who can help your business grow by becoming repeat customers and spreading the word about your business.