4 Statistics that Prove the Value in Email Marketing
We're approaching 2022, and a question that often comes up is: "Is email marketing still important?"
For many businesses, email marketing is a great way to build stronger relationships with your customers. It's affordable, and when done correctly, can generate a high ROI. It is inexpensive compared to traditional marketing tactics such as direct mail or print media. It also helps drive customers directly to your business with the click of a button, versus print media which involves the customer having to manually type out your web address if they want to visit your website.
Email marketing is still important, and below are 4 email marketing statistics that show its value.
1. For every $1 you spend on email marketing, you can expect an average return of $42
One of the most critical reasons to incorporate email marketing into your marketing strategy: the high ROI. If you run an e-commerce store, email marketing could lead to customers purchasing products based on emails you've sent. If B2B, email campaigns are likely a part of the overall nurturing campaign.
Email marketing is significantly less expensive than digital ads. In addition to the time spent designing the ads, digital advertising in itself is typically has a high CPC (cost per click). Even when carefully choosing the demographics you think will react positively to your ads, they might not show the ROI you hoped for. By putting your focus on email campaigns and building the right customer lists, you can send the exact content your customers are looking for directly to their inboxes.
2. 86% of consumers would like to receive promotional emails at least monthly
According to a study involving over 2,000 people, a majority of consumers would like to receive promotional emails at least monthly. Surprisingly, this study found that 15% of people would like to receive promo emails daily. This goes directly against the belief that people don't want to receive emails anymore.
Keep in mind, if you send too many emails to the wrong person, they will most likely unsubscribe. To make sure you don't annoy clients by oversending, consider including an "opt down" option so they can select which lists they want to be on before making the decision to opt out completely by unsubscribing. This way, you send the right frequency of emails to all in your database.
3. 60% of consumers say they’ve made a purchase as the result of a marketing email they received
This is a stark contrast to the 12.5% of consumers who admit they will consider using the buy button on social media. When comparing these two stats, there's not much of a contest, especially when you realize the costs behind social media advertising.
Abandoned cart emails can be a big contributor to this statistic, but what about email campaigns sent from small businesses about upcoming events, or "this week only" deals? If you curate the write content, your emails can lead to increased revenue.
4. 85.5% of people ages 65+ use email, but only 37% use social media
As age increases, social media usage decreases. If your key audience is over 65, social media is not the route you want to use to exclusively promote your brand. Well-written email campaigns can touch on the pain-points your clients might be experiencing, and will explain what your business does to alleviate these issues. In addition, social media often has a character limit that can be limiting, but you won't run into this problem with emails.
If targeting an older demographic, emails are much more likely to be seen compared to social media posts. This is why it's important to make sure your marketing strategy uses email campaigns and reaches your target audience.
Emails are here to stay
Email marketing isn't going away anytime soon. There are over 4 billion email users, and most of them check their emails daily. Email marketing is a low-cost marketing tactic that has a high ROI when done properly.
If you're ready to take your marketing strategy to the next level, contact us today.
Sources
1 - https://www.oberlo.com/blog/email-marketing-statistics
2 - https://marketingsherpa.com/article/chart/how-customers-want-promo-emails
3 - https://blogs.constantcontact.com/email-marketing-statistics/
4 - https://smallbiztrends.com/2021/05/email-marketing-statistics.html