What is that one thing that we check every day? Some people do that multiple times a day or maybe just after waking up. The answer is checking our email inbox. This activity gives us the basic reason why Email Marketing is not dead.
The advent of new technology and methods like virtual reality, chatbots, social media marketing, etc. has made us question the importance of email. However, according to statistics and research, Email Marketing should still be a priority in your marketing strategy.
- As per Statista, 102.6 trillion emails are sent every year.
- Additionally, Email is the first thing that 58% of people check in the morning.
- According to McKinsey & Company, Email is 40x more effective at gaining customers than both Twitter and Facebook combined.
- The return on investment for Email Marketing is noteworthy. Almost 18% of organisations attain ROI greater than $70 for every $1 invested.
These statistics will make you reconsider your thoughts on Email Marketing. Consequently, to be sure about it, we provide you with the most helpful facts below.
Reasons why Email Marketing is Alive and Thriving
Email Marketing offers massive reach
In 2020, Facebook had almost 2.7 billion users. While Twitter had more than 185 million. However, the number of global email users surpassed these figures as they reached a mark of 4 billion.
Anyone who is online definitely has an email address. Every application requires an email address while signing up. Be it Facebook, Instagram, or online stores, an email address is a prerequisite to use almost every platform. Many statistics support this fact.
Your email reaches 85% of the people you send it to. Additionally, it has an open rate of 22.86%. Hence, Email Marketing is often considered one of the most effective marketing techniques.
Email is the most preferred official communication channel
There lies a significant difference between email and social media. The former is considered the “official” medium. Social media serves the purpose of entertainment. Consequently, people don’t consider a message sent on social media to be an ‘official’ communication, unlike email.
This presents a clear demarcation. People use social media to see updates and photos which they eventually forget. Whereas email is for official purposes which includes information about products and services.
People subscribe to emails from companies for such details and they expect commercial messages. But this does not apply to social media. Statistics also reveal that 91% of US adults like receiving such promotional emails from the companies they have subscribed to.
Email Marketing produce Highest Return on Investment
A very popular fact in the marketing industry is that for every $1 spent, Email Marketing consequently generates $44. This high return on investment is a result of the nature of email-based communication.
Common mediums of advertising like print, TV, or other media do not have a specifically targeted audience. The advertisement reaches consumers who may or may not have any interest in the product or service.
Whereas email marketing allows marketers to send targeted messages to the subscribers. Additionally, Emails can be personalized in order to increase relevance. Following this, the engagement and conversion are also increased.
Comparing Emails with social media brings out a similar conclusion. Social Networking sites deliver status updates irrespective of a follower’s location, hobbies, and habits.
Moreover, your email has a better chance of reaching your target audience than a post on Facebook. The social media platform is encouraging companies to use paid advertising by making their posts appearing only for a limited time on the newsfeed. Hence, personalized and persuasive emails can work better than simple posts.
Maintaining and Regaining Customer Loyalty
Maintaining customer loyalty is one of the most difficult tasks for a business. This is important to have people who regularly purchase your products or services and spread the word about the same.
For this, an effective email marketing campaign can be developed that increases customer engagement. An email list can be used to send exclusive deals. This will serve as a reminder of the new products and services.
Another major problem that businesses face is regaining customers. It is very difficult to regain a lost customer. However, different types of emails like inactivity emails, VIP offers, renewal emails, onboarding emails; etc can help retain them.
Despite the fact that emails are an integral part of our modern life, we still choose not to check some emails. These are often from shopping websites, online stores, or other commercial sites. This doesn’t mean that Email Marketing is not effective. However, this situation calls for a fresh strategy.
Here are some suggestions to benefit from Email Marketing:
Use Mobile-friendly templates
People love to access everything from the comfort of their mobile phones. Most people use their phones to check their email in the morning. A mobile-friendly template will lower your bounce rate ensuring a good user experience.
Strategic utilisation of metrics
Tracking metrics can aid marketing efforts by explaining the behaviour of email subscribers. They reveal data on how and when people are interacting with the emails, for how long; etc. Hence, they report the success and failure of the marketing strategy.
Personalised subject lines
Generic content simply does not work in this competitive marketing world. For Email Marketing, the effort to personalize content starts with creating the subject line. This single line determines the open rate of the email.
Adopting GDPR standards
Compliance with General Data Protection Regulations (GDPR) means that readers give clear permission to receive marketing emails. GDPR is created to protect the data of consumers from brands and allowing access to it provided they trust the brand. However, this benefits marketers as they can send emails only to those who are genuinely interested in their brands.
Email Marketing is not an outdated marketing technique. But some of its practices are. The need is to remove and replace them with interactive elements. This holds true for almost every marketing technique. It’s not the technique but the way they are implemented that needs a change.
We at Shaktiki can help you make such changes in your marketing strategy. Get in touch today and book a free consultation.