Effectiveness of Email Marketing
Email marketing is directly sending a commercial message, typically to a group of people, using email. In its broadest sense, every email sent to a potential or current customer could be considered email marketing. Most of us must be thinking that email marketing as an out-of-date, overly spammed strategy close to extinction, newer, hotter technologies like social media and mobile marketing are taking their place, enticing you to pour your entire budget into these emerging technologies. I think otherwise. Before going deeper into email marketing effectiveness let’s look at some statistics. More than 200 million emails are sent out every minute of the day. It’s a number that proves email is still a heavily used communication platform for consumers, brands and enterprise marketers alike.
This isn’t the only evidence that proves email marketing is a hot-spot for marketing. Consider the following stats: Seventy-two percent of U.S. adults say they prefer companies to communicate with them via email, and 91 percent say they’d like to receive promotional emails from companies they do business with. Meanwhile, 73 percent of companies agree email marketing is a core part of their business efforts, and 25 percent rate email as their top channel in terms of return on investment. There are some reasons why email marketing will always remain in a company’s portfolio.
Great scope for Integration with Social media marketing
Numerous rumors are there regarding email marketing that is dying stems from the idea that social-media marketing, with its fancy bells and whistles is killing email. While social may be more effective than email in certain cases, you can’t expect one marketing medium to do it all Meanwhile email marketing, allows marketers to offer relevant and insightful content to an audience that has willingly subscribed and is eager to learn more. In addition, most Internet users (nearly 90 percent, as per 2012 data) are also email users, while only 70 percent have a social-media account. If you want to reach a majority of your audience, email is still the most effective method to do so. Just because email marketing might not be as informative as social media doesn’t mean that the two can’t play efficiently . In fact, combining email marketing with a strong social media strategy can really pay off.
New technologies being developed to enhance Email marketing
from newsletters to targeted offerings, brands can now monitor, measure, test and tweak emails to drive customer engagement. In addition, many new technologies show great promise of dramatically changing the email marketing game. Email will cease to simply be a medium for communication and evolve into a platform that helps brands deliver cross-channel experiences. Here’s a quick glance at some of them: (below points are not complete sentences so removed periods)
- Wearable technology will change how brands communicate with email subscribers
- Following email’s transition to mobile, the need to develop better and more creative content will become stronger than ever
- Hyper-targeted, location-based email marketing will surface, thanks to the integration of proximity and Geo-location applications into emails
- Video will play a bigger role in email marketing
Predictive analytics will drive behavioral email marketing.
It’s more targeted than most channels
A healthy email database is made up of current, recent, and potential customers. This allows marketers to craft and customize their message for each type of user. No other digital technology lets you hit users at any stage of the buying funnel in this manner, making email marketing the most versatile channel you can invest in.
The technology is sophisticated, but the execution is not
Today’s email marketing platforms have evolved significantly from their humble ancestors. Some platforms can even automate email blasts based on user activity and provide a wealth of data back on user response and engagement. Despite this sophistication, you don’t need to be a developer with coding experience to create or send an effective email blast. This makes the platform more accessible than other digital marketing channels.
It can be integrated with other marketing strategies
Because email marketing allows you to control the timing and messaging, email marketing can support and enhance other marketing initiatives. For example, eCommerce websites can cross-sell products based on purchase behavior in real-time. Non-eCommerce websites, like those in the B2B space, can use email to promote trade shows or sponsored events leading up to an event date. Businesses are also using email to further distribute their original content.
You will think the marketing channel with the highest ROI comes at a steep cost, but it’s actually one of the least expensive strategies you can implement. More sophisticated email platforms will naturally require a more significant investment, but that sophistication can also lead to a better ROI. Despite these economics, investments in email marketing typically account for less than 10% of digital marketing spend.
It’s great for reaching mobile users
40% of emails are viewed on a mobile device, and like social media, users check email multiple times per day (in some cases, multiple times per hour). But unlike social media posts that get buried in a timeline, emails stick around until the user takes action. This increases the likelihood that the message gets seen, whether or not the user chooses to engage with the email.
So even if other marketing schemes look more interesting to you ,don’t for a second believe that email is dead or dying; if you do, you’re certain to miss out on opportunities that other marketing tools don’t provide.