Everybody knows Email Marketing is a powerful tool for generating revenue in the B2C world. But how effective is Email Marketing for B2B Companies? We examine the stats.
Email has enjoyed strong historical support for B2C industries for good reason.
With an average $44 in revenue generated for every $1 spent using email marketing , it continues to be the standout digital performer.
And with Email Marketing producing 174% more conversions than social media on average , it’s evident what companies need to invest in to grow.
But for B2B Companies, the lines become more blurred.
Or do they?
Here are some mind-blowing statistics showing why Email Marketing can be a powerful tool for anybody in the B2B space.
Email Marketing is a Strong Influencer for B2B Companies
The DMA reports that Email Marketing ranks as the third most influential source of information for B2B audiences, ranking only behind industry-specific thought leaders and fellow colleague recommendations.
Email is the Best Communication Tool for B2B Companies
A whopping 86% of business professionals prefer to use email as their primary form of communication when discussing business.
Email Click-through Rates (CTR) are Higher for B2B Campaigns than B2C Campaigns
47% higher, to be precise. Starting to reconsider your outreach strategy yet?
Email is the most Effective Channel for Generating Revenue
59% of B2B Marketers say email marketing is their most effective channel for making money.
The Takeaways for B2B Companies
The consistency in these statistics is striking. B2B marketers need to be leveraging email to generate more sales and build trust with their potential - and existing - clients.
Failure to implement effective Email strategy in your company leaves opportunities on the plate your competitors will be happy to devour.
Don’t sit around scrapping for leftovers. Instead, implement the following practices to get your B2B Email Marketing up to scratch quickly:
1: Create a Lead Magnet
This should be your primary method of customer acquisition on your website.
A Lead Magnet allows you to generate leads on autopilot by capturing emails from potential customers who visit your website.
It enriches them with high-value content, establishing trust with your target, while simultaneously taking their data to be used for remarketing.
Click here to see examples of effective Lead Magnets.
2: Implement Exit-Intent Software
Exit-intent software tracks when your visitor is about to leave your site and presents them with a pop-up (in this case, your Lead Magnet).
Exit-intent pop-ups can dramatically increase conversion rates. Even in the lower cases of a 5-10% conversion rate, it’s still a necessary investment to generate leads.
Your prospect is going to leave anyway - exit-intent is your last chance saloon to lasso them back into your email list.
3: Retarget Your Leads with Automation
Anybody who subscribes to your list should enter a pre-purchase email automation.
The goal of this is to warm leads up and get them to reach out to you or purchase your product/service without you having to make an additional effort.
An intelligently crafted pre-purchase email sequence will build trust by introducing them to your brand/product, as well as encouraging them to contact you personally with carefully presented incentives.
If your business converts most of its clients via phone, you can also encourage your prospect to set up a phone conversation via email automation as well.
4: Upsell with Automation
A carefully designed ‘post-purchase sequence’ can introduce your customer to further products/services you offer in addition to harvesting reviews and referrals, two critically overlooked components neglected by far too many B2B brands in the post-sale period.
5: Retain Your Customers
You want to keep your past and present clients in constant contact by consistently emailing them throughout the year with relevant news, offers and additional high-value content that can benefit their business.
Retention is easier than seeking new clients, so remember to send Email campaigns frequently from your list to maintain your authority and relevance in your industry.
Email Marketing is of paramount importance for any B2B company. Don’t leave any opportunity on the table, and leverage email’s power to generate more leads and conversions.
And remember, automation is a powerful tool that can save you time and money for your business. Speak to us if you’d like to automate your pre-purchase and post-purchase sequences.