“EMAIL IS DEAD.” It’s a headline you may have seen before, as it tends to pop up from time to time. The bold proclamation is usually followed by breathless paragraphs extolling the virtues of some new, emerging technology that’s supposedly rendered email null and void. It’s a compelling conclusion to consider, but bold predictions always come with the important caveat that the attention (and clicks) they draw doesn’t always correspond with the accuracy contained therein.
In evaluating the vitality of email as a marketing method, one must first make the distinction between “old” and “obsolete.” Many of today’s cutting-edge tech frontiers have beginnings that trace back further than you might think. Take, for example, AI technology, which has humble beginnings dating back to the 1950s! It’s safe to say that practically no one would label AI technology as “obsolete.” Yet, when it comes to email marketing, some companies stubbornly hold to the notion that it’s an outdated approach. Industry data, however, backs the general consensus that email is here to stay.
Let’s get into it.
Email marketing is a preferred communication channel.
- 91 percent of the U.S. population uses email monthly, while only 70 percent have a social media account.
- 77 percent of consumers say email is their preferred way to receive marketing communication.
- 75 percent of millennials identify email as their preferred means of business communication.
- 44 percent of users check their email for a deal from a company they know, whereas only 4 percent will go to Facebook.
- The average person checks their email about 15 times per day.
The survey data makes clear that email cannot be dismissed as an outdated or irrelevant marketing tactic. The key is ensuring your list consists solely of people who’ve opted in, otherwise you will waste time and effort on an audience who isn’t interested in your content.
Email marketing can be personalized and targeted.
Digital marketing channels, social media included, often limit how specific their targeting can be. In fact, many social media and PPC campaigns have audience size minimums that must be reached before a campaign can be launched. And with traditional media, like billboards and radio ads, there is no way to control who sees or hears your message.
Email marketing, however, offers targeting capabilities that are much more focused than other channels. Using software, you can analyze various kinds of user data and segment your contact lists based on open rates and click-through data (that indicate interests/preferences) as well as many other factors. Email content can then be crafted to speak to subscribers’ specific needs or pain points.
This personalization has proven to be more motivating to prospective and returning customers, with businesses that use segmented campaigns noting as much as a 760 percent increase in revenue compared to a generic campaign.
Many businesses also employ “remarketing” campaigns through email. If, say, a prospect has already entered his or her email address in an ecommerce store, but abandoned his or her purchase before checkout, he or she can be re-engaged through use of a direct, conversion-focused email.
Email marketing builds brand connection and loyalty.
A business that commits to a steady, long-term email marketing strategy can become a known commodity that has everyone on the distribution list looking forward to the next “dispatch.” By mixing sage advice and the latest company and industry news, a business builds trust with their audience. It’s not unlike a longtime radio host who’s been heard during the morning drive for years. Their engaging personality draws in the audience and creates anticipation for the next show. Similarly, receiving emails that consistently provide value keeps customers engaged and connected with your brand.
Email marketing is affordable and yields a high rate of return.
Email marketing requires no printing, postage or material costs. And with the cost per message often being less than a penny, studies estimate email marketing yields $44 back for every $1 spent: a 4400% ROI!
TikTok…chatbots…video streaming. Rarely a month goes by without new and exciting communication channels emerging for exploration. Marketing will always be an industry where “early adopters” are eager to perceive the latest technology as being the best. One could find an old adage applicable in this situation: Make new friends, but keep the old. One is silver and the other is gold. Any business would be foolish to outright ignore the possibilities presented by the “new friends” of emerging technology. However, tried and true tactics are often good as gold! Email marketing may be approaching its 45th birthday, but it is constantly evolving, shows remarkable resilience, and can help generate a steady stream of revenue when used correctly.
Are you leveraging this trusted digital marketing tactic to grow your business? Contact Baer Performance Marketing today to step up your email marketing strategy for 2021.