For those who think that social media is the answer to all of your marketing problems, it’s time for a reality check. For those who waste, err I mean, spend inordinate amounts of time on Facebook or Twitter trying to promote products, raise your hands and slowly step away from the keyboard.
According to recent data from Monetate, email continues to be one of the biggest drivers of conversions for businesses with an ecommerce presence. The study, which analyzed more than 500 million shopping experiences in the first quarter of 2013, found that the conversion rate for email was 3.19 percent, compared to 1.95 percent for search engines, and a measly .71 percent for social media.
If you aren’t building a database of customer email addresses and sending regular newsletters, then you’re missing out on one of the most effective marketing tactics.
One of my clients who is an executive at HarperCollins Christian Publishing is fond of saying, “I’ll take one email address for every ten Facebook likes and every one hundred Twitter followers.” Email addresses are literally that much more valuable.
Social media can still help create awareness for products and attract sales. If you have a Facebook or Twitter page, continue to use it. However, give more attention to building a quality email list and sending effective newsletters on a regular basis. That list will always be one of your most valuable marketing assets.