In today’s increasingly digital and interconnected world, powered by technologies like Artificial Intelligence, Augmented Reality, Chatbots, and powerful smartphones, there is a question that arises in the minds of marketers and CEOs of start-ups: Is email still effective? Can it fulfill the needs of my industry, company culture, and brand?
The answer, in my opinion, is a resounding yes.
According to a study by the Direct Marketing Association, Email Marketing has proven to be highly effective, boasting an impressive return on investment of approximately 41 to 1.
Email possesses a unique capability that many other channels lack: the ability to create valuable and personalized interactions on a large scale. As David Newman, an expert in the field, puts it, “Email has an ability many channels don’t.”
Moreover, a study conducted by a data analytics firm called Custora revealed that email marketing played a significant role in online purchasing patterns. In fact, the study showed that 40 times more purchases were made through links included in email marketing campaigns compared to other channels. This study encompassed 72 million customers from 14 different industries, demonstrating that email outperforms even social media giants like Facebook and Twitter.
There are a few common misconceptions about email marketing that I’d like to dispel. Firstly, many people believe that email marketing is synonymous with spam, but this is far from the truth. With over 4.3 billion email accounts in use today, email remains a popular and widely adopted communication tool.
Secondly, some consider email to be outdated, but this is also incorrect. Research shows that 95% of online consumers use email, with 91% reporting that they check their email at least once a day. If people continue to engage with email on a daily basis, it remains a viable marketing channel.
Let’s explore some reasons why email marketing deserves your industry’s focus:
1. Email is ubiquitous, with approximately 3.9 billion email accounts worldwide. This includes 25% being corporate accounts. Moreover, a staggering 182.9 billion emails are sent each day, of which 100.5 billion are business-related. These numbers highlight the sheer reach and impact of email marketing.
2. Email marketing stands out because it is personal. Emails arrive in your inbox alongside messages from friends, family, colleagues, and clients. When an email appears in your personal inbox, it feels tailored specifically for you, especially when it is skillfully written in a style reminiscent of emails you receive from acquaintances.
3. Email provides a channel that you own. While search engines and social media platforms can change their algorithms and display content, your email subscribers will always maintain a direct and personal connection to your brand.
4. The return on investment (ROI) for email marketing is impressive, averaging 4300%. For every dollar you invest, you can expect $43 in returns. This makes email marketing a highly cost-effective strategy.
5. Email marketing is scalable, enabling you to reach and follow up with thousands, tens of thousands, or even hundreds of thousands of potential customers. This scalability ensures consistent and efficient communication with your target audience.
6. Email usage continues to grow. According to the Direct Marketing Association, 76% of marketers state that they use email more than they did three years ago. This trend highlights the enduring relevance and effectiveness of email as a marketing tool.
7. A significant 77% of consumers prefer email for marketing communications. This preference should be capitalized upon, allowing you to connect with your audience in the manner they prefer.
8. With 53% of emails being opened on smartphones, email marketing leverages the power of these devices. It is a cost-effective way to engage and delight your customers, fostering strong relationships, promoting new products, and reducing churn.
What are your thoughts on email marketing? Please share your opinion in the comments section.