How many times have you heard the cliche term “email is dead?” This sentiment has been reverberated for the last several years. However, the data shows that the notion of email marketing expiring soon is nothing more than fiction, a big ole’ urban legend. According to Statistica’s 2020 reporting, global email users amounted to 3.9 billion users in 2019 and is forecasted to grow to 4.3 billion users by 2023. If your company isn’t using a consistent email marketing strategy, it’s time to start.
- Higher Levels of Engagement – Connecting with your customers via your website and social media isn’t enough. The competitive nature of social media makes it easy for your customers to get distracted. Something else is always fighting for their timeline’s attention. Your company needs a mechanism for fostering continued nurturing and communication within an intimate setting. This is what email marketing provides. Surprisingly enough, email outperforms social media in terms of engagement. The average open rate of email marketing is 22.86% and click-through rate is 3.71% while the “Big 3” of social media (Facebook, Instagram, and Twitter), the engagement rate isn’t even 0.6%. Optimize your customer engagement by implementing an aligned social media and email content strategy.
- ROI – In case you are wondering if committing to a consistent email marketing strategy is worth your time and resources, the ROI appears promising. For every $1 that B2B brands spend on email marketing, they report $32, whereas B2C brands report $42. The ROI great increases with intentional targeting. It has been noted that segmented campaigns report as much as a 760% increase in revenue. Additionally when companies include at least three “abandoned cart” emails within their autoresponder sequence where they follow up and remind tagged readers of the offer, it results in 69% more orders than a single email alone (Omnisend, 2018).
- Communication Preference – Not only is email marketing a high engagement channel, but it also seems to be the top B2C communication method. It’s reported that 51% of US consumers preferred to be contacted by brands via email.
- Additional email marketing trends:
- Email open rate has increased due to COVID.
- 46% of all email opens are initiated via mobile device.
- 73% of millennials prefer communications from businesses to come via email.
- 35% of business professionals check email on a mobile device.
The Final Verdict
An effective email strategy allows you to grow and nurture a database of potential leads and customers. Don’t believe the hype. Even though email marketing has been around for decades, B2B marketers say email is still one of their top free organic distribution channels. Thanks to the accessibility of mobile devices coupled with an increased pandemic response for businesses to go digital, it’s safe to say that the old marketing adage of “The money is in the list.” still rings true. As you can see, email isn’t dead, it’s alive and thriving! If your business isn’t properly utilizing email marketing, it’s likely that you are leaving massive amounts of money on the table.