Spotlight on Email Marketing: How Much Does Email Marketing Software Cost?
Implementing email marketing software can help you avoid time-consuming manual workflows, while also giving you a way to measure ROI and build an audience of loyal followers. It’s no surprise that many businesses incorporate email marketing as a key part of their sales funnel.
In fact, it’s possible that the only obstacle your business faces before adopting email marketing software is uncertainty about the cost. The good news is that there are multiple cost structures for email marketing software, meaning it’s all a matter of finding the one that works for your business.
Email Marketing Software Cost
If you run a mid-sized business, self-managing your campaigns can cost from $9 to $1,000 per month. On the other hand, campaigns for an agency may cost $300 to $500 per month. Considering that email marketing provides an ROI of $38 for every dollar spent, many businesses are able to easily justify spending a certain amount for email marketing software.
Worth noting is that email marketing also ensures that you remain at the forefront of your customers’ minds—maintaining brand awareness that can lead to an increase in sales.
Regardless of your specific strategy, you need a marketing budget to implement successful email campaigns. Ideally, you want to spend about 16% of your marketing budget on email marketing efforts. However, sometimes, the spend may vary due to factors like:
- Whether you’re offering a service/product
- Your annual revenue
- Your digital marketing goals
- The overall percentage of revenue generated online
Different Cost Options for Email Marketing Software
Email marketing software makes it easy for businesses to generate new leads and sales. Depending on your goals, you can use the software to interact with your audience by promoting a product, announcing new deals, providing useful content, and generally working to provide value to your prospects.
Email marketing gives you a clear path towards forging a relationship of trust with your prospects and any customers you are retargeting.
There are dozens of email automation software solutions on the market. The best email marketing software comes with the following features:
- Professional-looking templates, which may be customized based on the type of email you are sending, e.g., sales emails or newsletters
- Various tracking and campaign analytics features, which allows you to closely follow open rates, delivery rates, click-through statistics, and more
- List management tools to help you manage and grow your audience
Email marketing software is quite affordable and comes with various pricing models, depending on the service providers:
As the name suggests, “freemium” is a free edition.
A free email marketing tool is ideal for startups looking to start their marketing efforts small and scale up as they see fit. Typically, a freemium plan supplements paid packages.
The main downside of freemium plans is that they can be limiting, especially regarding the number of campaigns, users, and features available.
You can sign up for a freemium plan to evaluate how email marking software can work for your business. However, you’ll have to upgrade to a paid plan to receive advanced features.
2. Tiered Pricing
The tiered pricing model is popular in the SaaS industry.
With a tiered-pricing model, users can get various features of the email marketing software depending on their needs. Generally, email marketing software comes in three or four plans:
- The free edition
- The basic/standard plan
- The professional plan
- The custom package
Tiered pricing offers users a direct path to the next higher plan once they outgrow their current one. Users can not only scale the features but choose a price that fits their requirements.
3. Monthly Subscriptions
In addition to various pricing models, you can also seek out different subscription options. When you sign up for a subscription, you can use and pay for the email marketing software on a monthly basis instead of subscribing for an entire year.
While monthly subscriptions are usually affordable, many email service providers offer incentives when you sign up for an entire year up-front. You could even get two to three months free when you pay for one year.
4. Usage-Based Pricing
With this model, the vendor prices their software based on usage, such as the number of emails you send or the frequency of your campaigns. Usage-based pricing can be ideal for budget-conscious businesses since it is a pay-as-you-go model.
This pricing model is ideal for startups since the price only increases with usage, meaning that your business only pays more as your grow.
Phonexa’s Email Marketing Platform: E-Delivery
The success of your campaigns will largely depend on the effectiveness of the email marketing tool you use. You want email marketing software with proven high deliverability rates and that lets you track the various metrics of your campaigns.
Many businesses have turned to Phonexa E-Delivery as their email marketing software solution.
E-Delivery from Phonexa lets users optimize their email marketing strategy. The platform is a complete marketing suite through which you have access to customizable features, free integrations, intuitive designs, and granular data reporting that will help you get a tremendous return on investment from email marketing.
Phonexa E-Delivery makes it easy to automate your campaigns and track them in real-time to gauge performance. The automation feature saves time for your team while maximizing your marketing spend. With E-Delivery, businesses invariably discover that using the right email marketing software provides a significant boost to their marketing ROI. Request a FREE demo today.