How Can Your Knowledge of Email Marketing Help You?

December 2, 2022

As obsolete as email marketing may seem to those detached from the reality of modern business, it is still the most promising investment. Whether you sell insurance, real estate, or clothing, email marketing can bring you up to $42 for every dollar spent — a game-changing 4,200% ROI.

Not convinced yet? We’ve got more for you! 

Get your email marketer’s playbook ready to leverage email marketing insights. With no further ado, let’s dig into how email marketing can take your business to the next level.

Numbers Say It All

Men lie, women lie, but numbers don’t lie. Just take a look at these statistics:

  • The global email user base is projected to grow by 125 million users annually, from 4 billion in 2020 to 4.6 billion in 2025.
  • Email marketing revenues are projected to grow to $13.69 billion in 2025, a mind-blowing 13.3% CAGR.
  • For over 80% of marketers, email marketing is more important than social media marketing.

Impressive, huh? This is why email marketing conferences like the ones featured on MailCon.com are all the rage, gathering thousands of like-minders from every corner of the world. Email marketing might be your surefire way to get an across-the-board marketing boost, including reaching the Holy Grail of your marketing efforts – an increased bottom line.

And now, let’s go into further detail on how email marketing can help you.

1. Omnichannel, Segmented, and Well-Timed Connection With High-Intent Leads

Marketing is about hitting the right people with the right message at the right time. No marketing channel can surpass email in effectively delivering a message. It’s personal, it’s convincing, and it’s incredibly profitable!

Take, for example, social media. Even with almost half a billion more users – 500 million more than email – social media can’t compete with email when it comes to conversion.

  • The average email conversion rate is around 1.5% for all industries.

Why? Because social media doesn’t allow for in-depth segmentation.

The better you know your customers – demographics, psychographics, history of purchases, location, etc. – the better you can build and tailor your message to their needs and wants. Consider that segmented campaigns draw up to 760% more profits. People love personalization and are eager to reciprocate.

Moreover, email marketing is intertwined with other marketing channels, such as your social media accounts, website, and blog. It doesn’t take much to synergize these channels – you leave a link and (hopefully) enjoy the influx of users. It’s as simple as that. Bringing it together helps you create a coherent impression of your brand to boost brand awareness and recognition.

Finally, with emails, you can reach customers when they are most susceptible to your message. For example, you can hit the subscribers nearby your outlets using geotargeting or stick to the generally accepted timing: 10 a.m. and 4 p.m., barring the first quarter of an hour, when inboxes are most congested.

2. High Efficiency With Little to No Risks

The incredibly high ROI potential of email marketing – surpassing affiliate, paid search, video, social, and traditional marketing – inevitably reduces risk, as you can break even if something goes awry and you don’t hit the bull’s eye with your targeted outreach.

  • Across all industries, the average open rate is around 20%, the click-through rate is 12%, and the bounce rate is 10%, meaning you are almost guaranteed to draw the attention of every fifth subscriber and make at least every tenth subscriber act. Not bad at all!

Risk-wise, you are almost safe. Even $1,000 per month – peanuts for companies with more than a few employees – may be enough for your email marketing needs, including the costs of designing and running your campaigns and purchasing an email service provider (ESP).

3. Easy Tracking and On-the-Fly Updates

Email marketing performance is easy to measure, which enables on-the-fly updates and sound budget management. Using well-known marketing KPIs – open rate, click-through rate, unsubscribe rate, conversion rate, spam complaints, etc. – you can double down on the most conversion-prone audiences and eliminate unprofitable campaigns.

4. Cutting-Edge Tech for Higher Conversion Rates

You can dramatically increase average open and conversion rates by using cutting-edge email technologies like no-code and interactive emails.

  • No-code email tools help you create compelling emails with no coding when you use a drag-and-drop editor and a library of templates. This way, you can speed up email creation while saving on design.
  • Interactive emails bring the action back to the email letter, enabling in-email purchases – the same way mobile apps do – without sending users to a third-party website. Likewise, interactive emails update your content at every open and cut the sales funnel to Sent> Opened> Converted.

5. Automation for Effective Scaling

In today’s ever-evolving digital environment, you can’t afford to spend resources on what can be automated. With the right software, you can semi-automate your email marketing campaigns, spending time only on supervision.

Email marketing software can:

  • Improve deliverability rates with performance reports (illustrating how email performance depends on your email delivery service).
  • Provide timing insights (when recipients are more likely to open your emails).
  • Provide insights on the relation between your ESP and the recipient’s domain.
  • Simplify email list-building and improve mobile targeting.

Besides, you can integrate your email marketing software into a lead management ecosystem to control the lead management process from A to Z across all marketing channels and touchpoints.

6. Compliance for Credibility

Customers favor compliant companies amidst growing online privacy concerns — Facebook, Twitter, LinkedIn, and Yahoo were all compromised in the past, exposing billions of data records to cast a shadow over every online business avenue, including email.

You can boost your credibility by staying compliant with major regulations like GDPR and CAN-SPAM. As complex as compliance regulations may be, there’s enough free and paid software to ensure the compliance of your email campaigns.

Quality Over Quantity Will Bring You Success

Half the recipients are eager to receive promotional emails weekly from their favorite brands. Still, they hate poor writing, mistakes in personal data, clickbait, and unintriguing emails. 

Therefore, make quality your priority. Create relevant, well-written, and clickbait-free emails to win your subscribers’ hearts with a value proposition that beats the competition.

 

References

  1. https://dma.org.uk/uploads/misc/marketers-email-tracker-2019.pdf
  2. https://www.statista.com/statistics/255080/number-of-e-mail-users-worldwide/
  3. https://www.statista.com/statistics/812060/email-marketing-revenue-worldwide/
  4. https://www.litmus.com/resources/2020-state-of-email-report-fall-edition/
  5. https://knowledgebase.constantcontact.com/articles/KnowledgeBase/5409-average-industry-rates?lang=en_US
  6. https://www.statista.com/statistics/1122387/internet-users-worldwide-looking-better-ways-protect-privacy/
  7. https://www.campaignmonitor.com/resources/guides/email-marketing-new-rules/
  8. https://connextdigital.com/email-marketing-metrics-that-matter-in-2022/#:~:text=Measuring%20CR%3A%20Divide%20the%20number,number%20varies%20greatly%20by%20industry
  9. https://knowledgebase.constantcontact.com/articles/KnowledgeBase/5409-average-industry-rates?lang=en_US

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