On today’s Business Beat, Jeff talks about engaging customers in an era of new online marketing laws with the granddaddy of all online marketing tactics: email.
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Good morning, Paul!
There are lots of changes afoot relating to how small businesses advertise online these days. I mean, with all the new privacy laws now in place, and with Google announcing it’s going to be phasing out tracking cookies soon, the playbook for marketing online has gotten quite complicated.
So what’s a small business to do? Well, turn to an online marketing tactic that has been No. 1 for small businesses for a long time. What is it? Good old email and for good reason. It works. A recent study by the Direct Marketing Association shows that email marketing is, in fact, the most profitable direct marketing channel generating an average return on investment of $42 for every dollar spent.
To be clear, email marketing is when you send out an email message en masse to those who have opted in to receive your emails. Those are your email subscribers and such outbound emails could be informational, such as an email newsletter as part of your content marketing strategy or branding strategy, or it could be promotional, a deal or discount or offer that is intended to engage your customers and drive more business your way.
Now, according to LiveIntent’s data, 63% of ad executives these days say that they’re actively putting more emphasis on their email marketing campaigns driven largely by their desire to collect first-party data from the market in the absence now of all the other methods they used to use, but that now are prohibited by the new laws.
Carol Cooper, chief marketing officer of LiveIntent, had this to say: “The direct and trusted relationship between a publisher and a consumer has only grown in the past year amid the COVID pandemic. Email newsletters are a strong solution for advertisers looking to grow their first-party data to reach targeted and personalized communication with the customer base.”
So if you’ve been struggling with how to engage most effectively with the customer base, given the changes in the online marketing laws, go with the granddaddy of all online marketing tactics: email.
I’m Jeff Sloan, founder and CEO of startupnation.com and that’s today’s Business Beat on the Great Voice of the Great Lakes, WJR.