When it comes to communication and marketing, email is still one of the most preferred options. It has been there for decades and remains actively used even today. It’s not an alternative in most corporate setups, but the default option for sensitive communication needs.
In 2020, researchers estimate that in overall, users send and receive around 330 billion emails each day worldwide. With the changing needs, email has evolved to be a more trusted form of communication for users and the most preferred marketing option for companies.
There are a few email marketing myths that paint this medium negatively but it has held on still and it is not even clear whether it will really die. Perhaps it is the trust that users have bestowed on emails that have made email marketing thrive.
It could also be its simplicity and ease of customization that has made organizations continually use it. In today’s piece, we uncover some of the subtle reasons why email marketing is still not dead in 2021.
Email Marketing is Still Providing High ROI
If you want a marketing solution that ticks most boxes when it comes to engaging your current client base while still capturing new prospects, email marketing is the way to go. Here is a roundup of the top email marketing statistics to help you confirm this;
- 73 percent of millennials consider emails more reliable when it comes to business communication.
- Email Newsletter is one of the most preferred content marketing formats for 81 percent of B2B audiences.
- 49 percent of consumers are more than willing to receive promotional offers via email from favorite brands.
What is the Exact ROI for Email Marketing?
Studies suggest that email marketing is 40X better than social when it comes to customer acquisition. A recent study showed that the median ROI for email marketing is 122 percent.
Now even though email marketing is still providing high ROI, the exact value you’ll get from it depends on the product you’re offering. Over a decade now, email evolved the major fair developing the largest ROI for marketers. For as low and insufficient as every $1 depleted, email marketing provides a surge to $42 in ROI.
Marketing pros recommend using AB tests and then sticking to the best success rates’ processes or approaches. In an online store setup for example, you may notice a sudden spike in customer engagement when you use transactional emails.
This implies that you can get even better returns with email blasts. If you’re in a B2B environment, though, you’ll notice that a customer’s purchase journey is considerably longer; therefore, the exact ROI you’ll get will depend on your lead nurturing campaign goals.
You may need to focus more on individual facets each time, for example, focusing on just brand awareness or creating good content before you can move on to the next step. For better results, though, experts recommend running your campaign with an email marketing guide (if you’re a starter) so you don’t miss a step in the process.
Email Marketing Services Get Better at Automation and Personalization
Marketing is a continuous process, and the best way to reap better dividends is to stay in constant contact with your target audience. To get better at customer acquisition, you also need to recognize their individual needs, so it is easy to customize your products and services to meet their primary needs.
Here is where email marketing services come into play again. Most marketers prefer email marketing because of the ease it brings when it comes to understanding the needs of your customers and maintaining constant contact with them.
With automation pieces of software like Hubspot or Mailchimp, you don’t have to spend hours upon hours writing individual emails to your subscribers. Instead, create the copy and send an email blast to the subscribers.
You also don’t have to send the same content to all the contacts in your email lists, as some subscribers may find the emails irrelevant to them. To avoid this problem, improve your overall ROI, use the automation and personalization tools to sift through your lists, and select the specific groups of subscribers who receive the emails.
If you’re using Mailchimp, for example, you can place your subscribers into specific groups, so you only send the relevant content.
It doesn’t end there, though. Experts reckon that it is easier to grab your prospects’ attention and convince them to make purchases when you address them with their names. With email automation software, you won’t need to move around, asking prospects to give you their names.
When the customers subscribe to your email lists, the automation and personalization software presents them with forms that nudge them to add names, for example, first names and company names. This makes it easy for small and medium-sized businesses (SMBs) to increase ROI by tailoring business emails to recipients in the email lists.
This is more effective considering that emails that come with personalized subject lines have 18 percent higher open rates than those that don’t come with personalized content.
With the automation and personalization aspects of email marketing, boosting your revenue is a no-brainer as you can also use transactional emails that ‘talk’ with your prospects after they’ve completed specific actions on your website. These actions may include making purchases from the website, downloading eBooks, or subscribing to your weekly or monthly newsletter.
These transactional emails work thoughtfully. After the customer has completed an activity, they get some vital information they were expecting; for example, after making a purchase, they’re notified of the estimated delivery dates.
If you’re a savvy marketer, you can take advantage of these transactional emails to up-sell other related or complementary products since consumers better interact with these emails than promotional emails.
Email is Still #1 Communication Channel for Businesses and Consumers
History has it that the first email was sent in 1971. Interestingly, email has remained a preferred form of communication over the decades. This is relatable, considering that over 50 percent of the world’s population has at least one email address.
In fact, it is still rapidly growing and by 2019 there was an upwards of 3.8 billion email accounts globally, a figure which represented a staggering 100 million increase from the previous year.
Traditionally, email was preferred for communication and collaboration since it was low cost and easy to use. Over time alternatives such as Microsoft Teams, Skype for Business, and Slack seemed to offer better office communications and collaboration experience, but email still dominates.
What is it that makes email so appealing? We’ve compiled some intriguing email marketing metrics to give you insight on why email is still the number 1 communication channel for businesses and consumers.
Everyone Uses It
It is almost impossible to find someone who doesn’t have at least a single email account. This is mainly influenced by the high Internet Penetration Rates, something which studies link to the fact that laptops and smartphones have become considerably affordable for households.
Besides, popular social networking platforms such as Facebook, LinkedIn, Pinterest and others require that you sign up for them using an email address. If these factors are anything to go by, it is almost mandatory for modern businesses to have email addresses and use them for their business needs.
The internet is not a place you can trust, and emails present you with a better way of using the internet without laying your confidential data open to the bad guys. Through its encryption technology, you’re assured of a secure medium of communication.
Besides, it also allows you to customize how you can filter messages for better security and even cryptographically sign your confidential documents such that even if they land in the wrong hands, somebody can’t access them.
It is Prompt and Nonintrusive
Emails are not only almost instant but also ‘modest’ in the way they deliver information. Most consumers prefer emails because apart from the ‘gentle’ notifications, it also allows you time to respond appropriately. This is important in ensuring that the receivers, especially in workplaces, remain focused and still keep updated.
Despite the evolved forms of marketing, email marketing still comes on top when comparing some of the most reliable marketing tactics. It does provide you with a comfortable and more straightforward way of connecting and engaging with your target audience. Besides, it is not costly, and most small businesses find it affordable.
There are a million reasons that explain why email marketing is still not dead in 2021. In fact, it is not clear whether a new medium will ultimately replace it. As things stand, email marketing is still poised to stand the test of time, especially with the new improvements that are added regularly, for example, predictive messaging, automation and the personalization capabilities.