A good ROI is the goal of every business, but especially for small cannabis businesses. Marketing practices are all designed to help your business maximize its return on investment. Today’s burning questions are HOW can you generate the most leads for the lowest price, and WHAT will make the biggest impact on prospects and website visitors for the lowest cost. As we learn more and more, we’ve discovered that email marketing is the best option out there for earning the best ROI on a variety of marketing channels.
TL;DR: You need to focus on email marketing if you want to earn the best ROI on your marketing efforts for your cannabis business.
Why should your cannabis business be doing more email marketing?
There are a couple of reasons to be doing more email marketing. For one thing, email has the largest reach out of other means of B2C communications. That includes social media since there are 3x more email addresses out there than people on Facebook and Twitter combined.
72% of customers also prefer to interact with a brand via email according to an eMarketer study. Interacting with your consumers in a way they enjoy is the best way to increase brand loyalty and net new customers.
How do you ensure your cannabis business is doing it right?
Email marketing is a great way to improve ROI but not if you’re doing it incorrectly. Here are a few tips to help you get it right:
- Create professional, interesting, easily understandable emails
- Get more subscribers by convincing website visitors to subscribe to your mailing list by offering them something valuable (like a coupon code, helpful newsletter content, etc)
- Make your emails mobile friendly so they can be opened and read across all devices
- MAke sure your emails don’t get sent to the spam folder automatically by avoiding over capitalization or bad HTML
- Target your emails by including the customer’s name and personalizing the email in line with their demographics
Does email marketing really help your cannabis business earn the best ROI?
Yes, we know so. According to an eMarketer study, email marketing (when done properly) has a median ROI of 122%, which is 4 times higher than any other marketing medium we have in the digital realm. Most marketers would also agree that email marketing offers above average or excellent ROI. Additionally, email has proven to be the best channel for marketing businesses, as 75% of e-commerce shoppers are likely to open branded emails.
You absolutely need to have strong, converting email campaigns in place at all times if you want to earn a great ROI. If you’d like to learn more about ways you can use email marketing to improve your ROI for your cannabis business, Team MaryJane is only a phone call away!