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  A Golden Opportunity in eMarketing
 
There's nothing like starting any article with the obvious - so here it goes ... Personalized/permission-based email is not only here to stay it is a driving force behind the way companies communicate with prospects and customers.
 
Now that the obvious is out of the way we can get to the root of why and how we as marketers can make it work for us!
 
THE WHY
 
Corporate Marketing Budgets are at their lowest levels in three years, having fallen from 14% of a company's overall revenue to 6%or 7% (DMA). That said, marketers have turned to e-marketing dialogue channels to save money. These channels are not only the most cost effective way to communicate, but they also provide the highest direct response rates of all other comparable media's, allowing marketers to make multiple, personalized communications with one touch point.
 
The second reason is the frequency of internet and e-mail use among the general public. The ongoing and consistent use of these two medias has created what I categorize as "empowerment of the consumer" (the defining right of who, what, where, when, and how dialogue should exist between a trusted and opted-in relationship). Companies that are slow to integrate email marketing solutions into their ongoing marketing plans stand a strong chance of losing their edge to competitors who have taken these steps.
 
In addition, many companies still make the mistake of viewing their online customer base and their offline customer base as separate. The truth is that customers view a company as a "brand," and respond more favorably when their offline and online experiences are seamless. Our research indicates that eMarketing efforts targeted to existing, offline customers deliver click-through response rates that are 30% higher than those same efforts targeted at new prospects from sources such as rented lists.
 
This premise is further supported by Forrester analyst Jim Nail that "E-mail's compound annual growth rate of 88% will make it 10% of all digital marketing by 2005". In addition, "more than $6 billion will be spent on email marketing in 2005, spanning both customer acquisition and retention." Online Advertising Eclipsed, 1-01
 
THE STATISTICS
 
A recent survey of mid-size and large companies by Jupiter Research revealed that only 28% of companies use e-marketing techniques to cross-sell and up-sell existing customers. That means that the remaining 72% of companies that are not interacting with their customers via some sort of online channels are missing a huge opportunity to drive additional revenues. Now you may ask yourself why this is so critical. Well cross-channel shoppers (those consumers who purchase items through a combination of avenues - be it internet, catalogs and traditional retail outlets) - spend 20-50% more than the average shopper and store shoppers who also buy online spend $600 more per year than traditional in-store shoppers (shop.org).
 
Another study outlined that, 66% of multi-channel shoppers browse in one channel but buy in another, 68% on online shoppers research online and purchase offline and 54% of online shoppers do the opposite, select products in store and buy online (Jupiter).
 
THE SAVVY MARKETER
 
Today's savvy marketer knows that if they want to attain any level of success and remain competitive in the marketplace they must adopt an online communications strategy that promotes targeted, permission-based and personalized online communications. Those marketers wishing to go the extra mile will also look to integrate a multi-channel dialogue component and real-time optimization with incentives and/or survey options that will help them understand what the customer wants, what they will react too and how they want it delivered.
 
In short, marketers understand the power of leveraging the Web to create a seamless communication strategy targeted to customers who already know and trust their brand. By implementing an online strategy to convert offline customers, these company's unleash the power of multiple channels integrated to maximize the value -- and profitability -- of their strongest asset: existing customers.
 
Prior to joining NewWorldIQ as Regional Sales VP, Matt has spent numerous years in the area of Online Marketing, Marketing Automation and CRM. His knowledge in the space extends throughout the Customer Lifecycle and Lead Qualification & Distribution is valuable to any organization looking to do more with less in today's economy!