Is Email Marketing Still an Effective Strategy?
Many professionals point to the premeditated death of email marketing due to the growth of social media and their consequent investment by companies. However, those who share the opinion that email marketing is no longer effective forget this strategy does not work if the content of the email does not meet the interests of the recipients.
It is sometimes difficult to get information about the segments; according to Ascend, 51% of marketers say that the success of email marketing is often limited by the lack of relevant information about their contacts. Also, 78% of its recipients claim to have canceled email subscriptions because they are receiving too many. This way, it is important to reduce the number of emails and not bombard people with information about companies.
So, the answer to such popular questions like “Does email marketing work?” and “Is email marketing effective?” is a yes when you take the right steps in your email marketing journey.
How Effective Is Email Marketing?
Email marketing has been around for decades and is still one of the most effective marketing strategies today. It is an excellent way to stay connected with your customers and prospects and drive sales. According to a study by The Radicati Group, there are more than 4 billion email users worldwide. That’s a lot of potential customers you can reach out to!
Studies have also shown that email marketing has a higher ROI (Return on Investment) than any other digital marketing channel. According to Dot Digital, email marketing has an average ROI of $39 for every dollar spent. We can say that email marketing campaigns are considered to be more cost-effective than other forms of marketing.
UK-based data-driven full-funnel marketing agency Favoured also supports the idea that email marketing is still a highly effective marketing strategy. The agency believes that email marketing allows you to build customized content, which utilizes your customers’ previous purchases or inquiry information, to deliver only the relevant stuff right into their inboxes. We encourage you to check out the agency’s website simply because they provide a variety of digital marketing services, including email marketing, for their customers.
How Do You Measure the Effectiveness of Email Marketing?
Measuring email marketing’s effectiveness is important to ensure that your campaigns are effective and are reaching the right people. There are several metrics that can be used to measure the effectiveness of your campaigns.
The first metric you should look at is the open rate, which measures how many people are opening your emails. You should aim for a high open rate as this indicates that your emails are being read by your target audience.
Another important metric you should look at is the click-through rate (CTR). It measures how many people are clicking on the links in your emails. You should aim for a high CTR as this indicates that your emails are engaging and that people are taking action after reading them.
It is also important to consider the conversion rate, which measures how many people take action after reading your emails. You should aim for a high conversion rate as this indicates that your emails are successful in driving sales.
How Do You Benefit from the Power of Email Marketing?
Email marketing offers many advantages. When used properly, it can leverage sales, generate new customers and help in their retention.
Through email marketing you can opt for various communication strategies:
- Commercial: These strategies are considered to be the most traditional and are intended to increase impulsive behavior when announcing promotions or a new product.
- Loyalty: In order to retain customers, this type of campaign aims to promote their relationship with the brand or company, in order to generate more sales.
- Informational: These campaigns are intended mainly to inform clients, for example about future events or to get feedback on a particular service or product.
- Location: This is a strategy used to inform people about the location of the physical store so that they can go into it and become customers.
These strategies associated with relevant content can achieve good results for companies. Unlike what happens in social media, in email marketing, there is a base of subscribers who are already interested in the subjects sent by companies. They can choose whether or not to open and read the emails.
Now in social media, content is filtered by algorithms and does not reach all people. Email marketing is up to 40 times more effective than social media, according to a study done by McKinsey & Company. The same study also shows that the buying process happens 3 times faster than in social media.
Statistically, there are indicators that show the growing potential of email marketing. Based on surveys conducted by the Channel Preferences Survey, indicate that 91% of people access their email at least once a day. Moreover, it is also said that they prefer to receive business information via email.
According to the Fourth Source website, 92% of internet users have at least one email account. That is, practically everyone has email unlike what happens with social media, not everyone has an account, which can difficult and minimize the reach and coverage of the desired segment.
These statistical indicators leave no room for doubt about the potential of this tool, which should be included in the digital strategy of a company.
Effectiveness of Email Marketing Tools
Email marketing is a powerful way of increasing your sales and brand awareness. And with the help of tools, you can ensure that your email newsletters or promotional content are reaching the right people and are having the desired effect.
To send out promotional offers and discounts, announce new products and services, and keep your customers informed about your company, you can use the best email marketing tools.
Email marketing tools offer you a more personalized approach, which in turn helps to understand if the company’s objectives are in accordance with the results obtained. Also, you can perform A/B tests, which help you to understand which email works best and boost your email open rates.
The recipient will remember the company and allows you to do remarketing in order to reach people who, for example, have abandoned the website’s shopping cart. They will be reminded via email that they have products in the cart.
Email marketing has few associated costs, an account in Mailchimp, for example, allows you to send up to 12,000 emails per month to a list of up to 2,000 contacts for free. Paid plans are not that expensive.
One of the key factors contributing to its growth is the evolution of mobile devices and their increased use. Two-thirds of emails are opened on smartphones or tablets according to Marketing Land, 75% of Gmail users access it through them and emails that are responsive have a 40% opening rate according to Clickz.
And if you’re unsure of how to use these tools to their fullest potential, InboxArmy is here to help. A full-service email marketing agency with headquarters in the US, InboxArmy provides businesses all around the world with targeted email solutions, from concept to development to execution.
Despite the rise of social media, email marketing remains a highly effective strategy for businesses to connect with their customers and prospects. To achieve success with email marketing, it is crucial to create relevant content and limit the number of emails sent. Measuring the effectiveness of email marketing through metrics such as open rates, click-through rates, and conversion rates is essential for ensuring that campaigns are reaching the right people. The potential of email marketing is further highlighted by its high ROI and cost-effectiveness, with studies suggesting that email marketing can be up to 40 times more effective than social media.
But, how can you develop a successful email marketing campaign with high ROI? Working with one of the best digital marketing agencies should be the first step to take and choosing among the ones specialized in this field will make the process more smooth. Here’s our selection of top email marketing companies, all ready to help you in your marketing journey!