Email is one of the most powerful tools in our digital lives. With more people creating online profiles daily, sending messages to as many people as possible is easy. Fortunately, in this article, we’ll review what average email marketing costs.
81% of small businesses use email marketing as their primary way to get new customers, and 80% use email marketing to keep customers coming back. Email marketing campaigns are a popular tool for small and large organizations to increase brand recognition among potential consumers and foster loyalty and trust among current clients.
Email marketing is one of the best methods for interacting with clients because it can be tracked and customized to your needs.
With that said, how much does email marketing cost? Is there a set price for sending an invitation to join your mailing list or an advertisement?
Email deliverability is a critical factor in the success of email marketing. The lack of effective segmentation and segmentation-based targeting are two of the biggest challenges for businesses that want to use email as part of their marketing mix. But how much does it cost? How Much Does It Cost To Do Email Marketing?
Email marketing pricing depends on many factors.
Whether you run a small or large business, the cost of email marketing services can burn a hole in your pocket, so it’s critical to understand how to keep it under control.
Once you brainstorm about your goal, past campaign costs, and marketing strategy, you need to calculate its average price.
You can expect to spend around $100 monthly to keep your brand active. This covers paying for all the software required to operate your company, extra services like Gmail, and the typical person’s email spending cap.
There are ways to save money by looking at free alternatives to paid software, using less expensive email providers, and staying within your budget.
There are also free stock photos for you to use in your email campaigns at no extra charge.
Suppose you’re a small business and can make do with the limitations of a free email marketing tool. In that case, you can cut costs by choosing an option like the MailerLite free plan.
These figures show why so many companies make email marketing a key component of their growth strategy:
- The average return on investment for email marketing is 42:1.
- The most effective marketers send 5-8 emails every month.
- 19% of income is typically attributed to email marketing.
- Marketing executives assess their email marketing ROI as “excellent” or “outstanding” in 74% of cases.
Then, you need a mailing list.
You’ll need an email list before you can send any email campaign. Your email list is your database, which contains opt-in email address profiles. So you can send them marketing and promotional materials.
There must be more than a landing page or website for effective email marketing. You will have to create a mailing list to which people can add themselves. This way, they can receive your emails at any time!
It is very common to think that sending an email is a cost-effective way to market your business, but it is not. Sending mass emails costs you money in two significant ways: revenue and effectiveness.
If you send promotional messages not asked for, this could be considered spam, and you could lose all of your online traffic. Fortunately, there are tools to ensure your emails are 100 percent legitimate.
Another reason direct mail is expensive is because of how much postage is per letter. The more letters you send out, the greater the price per letter. Therefore, the more subscribers you have, the lower your overall campaign budget.
The last significant expense for sending printed matter is production. Even if you use pre-designed templates, you must pay someone to design, edit, and produce them. Additional fees apply depending on the size of the print run.
Email does not have this problem. Once you develop your strategy, you can generate your professional-looking designs free of charge. Some even have accessible customization features built into the program used to compose messages.
Many free software programs are available from companies such as Gmail, Yahoo!, and Outlook.
Next, you need branding.
Suppose you have done any digital marketing before. In that case, you know that creating a solid brand is one of the most important things you can do for your business. A well-branded site or app will attract new users while keeping current ones.
It’s hard to tell whether someone will stay connected with your services if they don’t believe what you offer them is worth their time. This applies even more so to something like sending emails!
Most people agree that an email is a powerful tool. It’s easy to use, cost-effective and doesn’t require too much technology. What some may need to realize is how expensive it can be!
Email marketing costs money, but there are ways to save without giving up quality content or clients. Here are our best tips for email marketing, as well as strategies to help you keep control of your budget.
Then, you need to pick your theme.
Choosing an email marketing platform is like paying close attention in class or watching TV for half an hour – it depends on what you want to do!
Most people use free services before investing their hard-earned money in another software package or subscription service. This can be tricky because there are so many great free options!
It’s important to know which ones have enough features to help grow your business but are relatively inexpensive.
Once you have all that set, you need an email marketing budget of about $500 to $1,000 monthly.
Starting an email marketing campaign is free. Sending messages to your audience is free!
Running a newsletter is not. A monthly subscription for a newsletter service typically costs around $12 per 1000 subscribers. So if you had 1,000 subscribers, it would be approximately $12 per subscriber per month!
That gets expensive quickly, very fast. And there are several other fees for different services, so do some research and compare before investing in one.
You will also need somewhere to store all your newsletters, which can get pricey.
You must also ensure you’re using the right platform for your business.
Luckily, most email marketing tools offer free trials or a free version of their software.
Even though email marketing is one of the most cost-effective ways to market your business, that doesn’t mean there isn’t a price attached to it.
Just because something is free does not mean you can do as much of it as you want without spending money!
It’s straightforward to create an account with just about any mail service provider (MSP) and start sending emails. However, doing so will only cost you if you are paying for their premium services.
The more expensive tiers of MSPs include video tutorials, webinars, and more advanced features than simply creating messages. These costs are added to the base price of the plan you have already chosen.
There are some great free alternatives to Mailchimp, Constant Contact, and others, but they may offer different features.
And, of course, there’s marketing.
Even though email is often categorized as “broadcast media,” it doesn’t mean that you can spam people without repercussions. Your messages and content should be relevant and clear, so your recipients don’t give you their attention money.
That means paying close attention to costs!
Email marketing isn’t free, which is why most marketers rely heavily on it. But how much does it cost? The average price per subscriber in 2018 was $12.77, according to Pertino Media. This includes emails, design, development, hosting, and promotional materials. (Note: this doesn’t have direct mail or other collateral material.)
So if yours send out 10x that amount every month, then yes, they’re spending too much email marketing! Luckily, we have some tips for you here. Read on to learn more about saving money when email marketing.
Consider hiring a company for your marketing.
Even if you have an in-house email marketing team, it is still essential to outsource specific tasks, such as sending emails or creating content.
However, email marketing agencies typically charge a higher fee.
Email marketers are very skilled at communicating with different audiences so that you can achieve your
goals. They may even look like consultants since they have expertise in other areas (for example, website design).
Email marketers pay attention to tracking effectiveness and analytics, finding new opportunities, maximizing open rates, and developing creative messages and content.
Marketers with the highest ROI send between 5-8 emails per month.
You might outsource much of the work and work with an agency to write, design, and send your marketing emails.
However, it’s essential to have a copywriter aboard who can showcase your brand and get it through email newsletters.
The cost is based on the number of emails that the agency will set up for you per month.
Most businesses run several email campaigns simultaneously, so they need a full-time employee to overlook campaigns. You have three options to go with:
- Assign the task to an employee (Free)
- Hire a freelancer (Starting price $10 per hour)
- Hire an agency (Starting price $300 per month)
If you’re a mid-sized business working with an agency, rates start at around $300 to $900 a month.
For a more accurate cost estimate, speak to as many email marketing agencies as possible.
It would help if you also considered using an email marketing service.
There are many different email service providers, some better than others.
Even if you are willing to produce your content, use appropriate tools for sending it. A high cost is associated with running an email server and software like Gmail, which many people use.
Investing in these services is not a good idea if you want to start a new business or market an existing one. This is why there are other less expensive ways to do email marketing.
Several free services can be used for some email marketing functions, but something else may work better for you. The reason is that they lack the advanced features that more professional-grade programs offer. These features include creating, editing, and hosting emails, tracking open rates, and segmenting audiences.
Before deciding to pay for one of these services, consider whether it has the features you need.
Pricing structure: The cost of Campaign Monitor depends on the number of features you need access to and the number of subscribers on your list.
The majority of email applications promise to do the labor for you by transferring your current subscribers, email design, and even email automation.
Most email marketing platforms let users create signup forms and landing pages to get as many leads as possible without paying extra.
It is the best option for small to mid-sized businesses. It is an all-in-one marketing platform offering automation and email services.
For example, MailerLite is one of the few email marketing tools that provide a/b testing functionality in the free plan. MailerLite free plan provides 12,000 monthly emails and up to 1,000 subscribers.
To reduce this cost, the best strategy is to scrub your email list. (The costs of email marketing software increase as your email list and sending frequency to grow.)
Other factors, such as the number of automatic email series you have set up and the number of segments updated every hour, all of which represent a cost for their servers, may also influence the price you represent for these programs.
Both email content and design are crucial elements of any email campaign.
While list size affects price, you may send an infinite number of emails to your mailing lists regardless of the pricing plan.
Create new email marketing efforts after that to raise conversion rates sharply.
In many respects, having a sizable, relevant, and healthy email list is the most important aspect of effective email marketing.
How much an email template design will cost depends on the type and number of templates you need for your campaigns.
Drip programs let you send pre-written emails to subscribers when they do certain things or reach different points in the buying process.
Recent events have put a lot of pressure on advertising budgets, and social distance has made it harder to keep in touch with people.