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What is email marketing?
This can be split into 2 categories:
Outbound email marketing, and
Subscriber list email marketing.
These are two very different methods.
Subscriber list email marketing is as it says on the tin and it is an absolute must for any business. If you are not utilizing your email list you are losing opportunities.
Outbound email marketing however is something not all companies might do and it might not be applicable to everyone.
Outbound marketing, especially in the UK should only be done to businesses, especially with new GDPR rules and guidelines. So if you are a B2C business you can just rule this out from an outbound perspective.
There are little B2B industries that this would not apply to, perhaps only if your ticket item was too low or you focused on eCommerce only sales as it is unlikely that someone will go ahead and just buy from a link in an email and if the ticket is too low you will need ALOT of leads to make it worthwhile and that will be time-consuming.
If you are a business selling to other businesses with a high ticket item in the price range of hundreds, not 10's, however, then this is one of the most cost-effective ways to generate leads that exist.
Here are some of the Pros and Cons:
Pros
Low cost per lead
Very scalable, can just keep adding data
Can target a very specific audience
Can target locations
Easy to monitor
Cons
Leads convert at a lower rate
Requires more capacity to reply to leads
If you are not doing email marketing but you have enough capacity in the team to manage the inbox then this is a great low cost and effective way to get new leads.