Email marketing is one of the most effective, yet often underutilized, digital marketing tools available to businesses today. When done correctly, email marketing can be an incredibly powerful tool to reach new customers, drive sales, and build loyalty. But email marketing is not free. In fact, it can be quite costly.
How much does email marketing cost? It depends on a number of factors, including the size of your email list, the frequency of your emails, the cost of your email service provider (ESP), and the effectiveness of your email campaigns.
The size of your email list is perhaps the most important factor in determining the cost of your email marketing. The more subscribers you have, the more you’ll pay for your ESP and the more time you’ll need to spend creating and sending emails. If you have a large list (100,000+ subscribers), you can expect to pay $500-$1,000 per month for your ESP, and you’ll need to allocate several hours each week to creating and sending emails.
The frequency of your emails is another important factor in determining cost. If you send weekly emails, you’ll need to allocate more time each week to creating and sending them than if you send monthly emails. Additionally, if you send more emails, you’ll need to pay more for your ESP. For example, if you have a list of 10,000 subscribers and send weekly emails, you can expect to pay $120-$240 per month for your ESP. If you have a list of 100,000 subscribers and send weekly emails, you can expect to pay $1,200-$2,400 per month for your ESP.
The cost of your Email Service Provider (ESP) will vary depending on the size of your list and the features offered by the provider. If you have a small list (under 1,000 subscribers), you can expect to pay around $10 per month for a basic ESP like MailChimp or Constant Contact. If you have a larger list (10,000+ subscribers), you’ll need to use an enterprise-level ESP like HubSpot or Pardot, which will cost $500-$1,000+ per month.
Finally, the effectiveness of your email campaigns will impact the cost of your email marketing. If your open rates are low and few people click through to your website from your emails, then you’re not getting a good return on investment (ROI) from your email campaigns and should consider changing up your strategy. On the other hand, if people are engaging with your emails and clicking through toyour website at high rates , thenyou’re likely seeing a good ROI and should continue doing what’s working well .
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