According to Influencer Marketing Hub over 290 billion emails are sent out every single day and yet only about 46% of marketers consider it an effective method to attract potential customers.
This shows the huge number of marketers who fail to capitalize on the immense benefits that this marketing channel offers.
To increase sales and grow your business using email marketing your need to understand the important aspects such as efficiency, ROI, conversion rate, and statistic behind the growth it.
To help you let consider each one of them.
Email Marketing Statistics
To analyze the situation in email marketing today, we have collected a large set of statistical data.
Key email marketing statistics that have been recorded include the following:
- In the year 2019, data shows that 90% of adult internet users in the US managed to communicate mostly through email
- Comparatively speaking, the above record is higher than what was recorded for social media by 22% and search engines by 15% in the same year and these are surely no mean figures.
- Also, and going by data which was collected in 2018, email marketing still came out on top of Search Engine Optimization, Affiliate Marketing and Social Media as the most effective marketing strategy.
- According to Hubspot there are 3.9 billion people who used email worldwide and this figure is projected to reach 4.3 billion people by 2023 whereby this is approximately half the global population.
- With regards to volume, it is recorded that 293.6 billion emails were sent and received daily in the year 2019.
- Additionally, close to 90% of marketers disseminate their content by the use of email marketingaccording to the latest 2019 statistics from Content Marketing Institute.
- Interestingly, 81% of Small and Midsize Businesses (SMBs) relied on email as their primary customer acquisition channel and 80% for retention in 2018 according to Emarsys.
Remember that to start an email marketing campaign you first need to build or buy a mailing list of top companies in case of B2B or another target audience.
Email Marketing Efficiency
The notion that email marketing is headed to the deathbed seems to be gaining traction as a result of heightened investment in social media and subsequent growth of various social platforms.
Those who share the notion that email marketing is no longer effective are blind to other realities especially the fact that the strategy could be failing to work because content does not measure up to the interest of recipients.
Another reason could be lack of relevant information about potential contacts or irritation on the part of recipients by endless and incessant emails of which up to 78% end up being cancelled; as per data from Hubspot.
Proper use of email marketing can nonetheless still generate new customers, help to retain the same and also leverage on sales. However, email marketing efficiency must be premised on various communication strategies such as:
- Commercial – for announcing promotions and/or new products with a view to creating impulsive behavior
- Location – for informing people about the location where your physical store is found so that they can visit
- Informational – for getting feedback on a given product or service or for keeping clients abreast with future events
- Loyalty – for the purpose of retaining customers and promoting customer relationship with the brand or company
If the above strategies are accompanied with relevant content, efficiency is definitely guaranteed because unlike what happens with social media, email marketing happens to possess a base of subscribers who are already interested in the subjects sent.
Surveys conducted by channel preferences like E-consultancy, Radicati Group or McKinsey & Company show that 91% of people access their emails at least once per day and that 92% of email users have got an email account whereby a majority prefer to receive business information via email.
Email Marketing Conversion Rate
Firstly, it is important to note that email marketing conversation rate or email conversion rate is the percentage of subscribers who complete a desired goal action like purchases, signups and so on.
Email marketing campaign conversion rates are arrived at by simply dividing the number of people who complete a desired action by the number of successful deliveries multiplied by 100.
While on this aspect, it is advisable to have a closer look at what passes for a good conversion rate while appreciating that this depends on a variety of factors such as email type, geographical location, industry, company size and so forth.
Data has it that publishing, sports and legal services have got the highest email conversation rates while automotive, retail and financial services have got the lowest rates.
Note however that it not easy to make accurate comparisons because of such factors as your company’s specific conversion goal and the type of email sent out.
In order for you to achieve high email marketing conversion rates, it is good to do the following things.
- i) Ensuring a responsive design – Whereby you need to;
- Create a short subject line not exceeding 35 characters for proper display on mobile phones.
- Use larger fonts for ease of reading
- Reduce the size of images to speed up mobile load time
- Create bulletproof Call To Action (CAT) buttons for perfect appearance across all inboxes and also use a single column layout
- ii) Directing Recipients to a dedicated post-click landing page – so as to prompt them to take action by promising freebies for example
- iii) Sending content that matches a client’s stage in the funnel
- iv) Formulating an email subject line that is compelling
- v) Segmenting your email list to the appropriate subscribers
Return On Investment (ROI)
As pointed out earlier on, email marketing is still the leading channel for reaching your target audience and this is because of its ability to provide businesses of all sizes an attractive Return on Investments (ROI).
A study by eMarketer shows that the median email marketing ROI is 122% and this is four times higher than any other marketing strategy.
There are different ways through which email marketing offers your business a return oninvestment and these are also measured differently in the course of your email campaigns. One of the ways to measure email marketing ROI is your Click-Through Rate (CTR) which basically shows how many people clicked on a link (if there is any) in your email.
In a nutshell, ROI from your email marketing can be measured by the following things;
- Increased website traffic
- Strong brand awareness
- Increased company revenue and
- Improved sales conversions
Having gone through all the above, it is now obvious why email marketing still remains the leading channel for many businesses.
However, the aspect of getting the right contact data of your potential customers, especially in the B2B world is very important.
This is why, purchasing email lists from companies like Gethrough can save you a lot of time and effort!