Email marketing is the most effective way to promote a business, and this is not just an opinion. Statistics say this, and we will learn more about it. But first, let’s learn some necessary details.
What is Email Marketing?
Email marketing involves sending commercial emails to a company or agency’s previous customers or a group of new potential customers. It is one of the most compelling and engaging ways of getting in touch with people. Email marketing can include various commercial messages such as offers, advertisements, new products or services, etc. Some main targets of email marketing are to build loyalty, trust, and brand awareness among customers.
Email marketing is not a new concept. In 1978, Gary Thuerk of Digital Equipment Corporation first sent a ma, ss email to approximately 400 people, and since then, this marketing strategy has grown faster and become more reliable.
Some Forms of Email Marketing
There are many kinds of email marketing emails such as
1. Information Emails: These emails mostly consist of various offers, product details, or news about a new product.
2. Digital Newsletter: These types of emails are sent regularly (weekly or monthly) and contain content regarding one particular topic.
3. Product Update: These types of emails are straightforward and contain content about a new product or an update on an existing product.
4. Transactional emails are sent to one customer at a time regarding any action, such as payment details or confirming a purchase. Etc.
How to do Email Marketing
If you want to start an email marketing campaign, then there are some things that you have to do. First, you have to select a goal. You need to have a clear vision regarding what you want to achieve through email marketing. Then, you must make an email list of customers to whom you will send the emails. In this case, you can send emails via various email marketing tools or services. So many email marketing tools are available to speed up your work and help you develop better emails. HubSpot, Sender, Sendinblue, etc., are some of the best free email marketing tools. Then you have to decide what kind of campaign you want to send. It can be any of the above. You can use email marketing strategies such as personalizing emails for every customer, segmentation, making emails mobile-friendly, etc.
Now, let’s discuss some important statistics that prove email marketing is an essential and vital medium for promoting a business or growing it effectively.
1. Email is the most used and trusted medium:
People use emails a lot. Emails matter more than social media ads. Emails are more professional and engaging when it comes to one-on-one engagement. Surveys found that in 2019, there were almost 3.9 billion email users, and within 2023, the number of email users will grow to 4.3 billion. (Statista, 2020) Also, in 2019, almost 293.6 billion emails were sent and received; by 2022, the number is expected to grow to nearly 347.3 billion. (Statista, 2020) It is also likely that the global email marketing industry will hit US$ 7.9 million by 2027. The global demand for email marketing valued at US$7.5 Billion is amid the Covid-19 crisis. A r vised size of US$17 is expected to exceed 5 trillion in 2020. Tha ’s huge, right? Moreover, in email marketing, the return on investment is also enormous. Fo every 1$ you spend, you can expect a return of approximately 42$. (D A, 2019) So,
2. Op ning and Click Rates:
Customers always prefer clicking through a link on email rather than social media. In a survey done by Mailchimp, it is shown that the average open rate on all non-labeled accounts is 22.71%, and the average click rate is 2.91%. Th average available rate for agriculture and food services is 23.31%, and the average click rate is 2.94%. Fo art and artists, the average open rate is 26.27%, and the middle-click rate is 2.95%. Fo computers and electronics, the average open rate is 19.29%, and the average click rate is 2.08%. Fo entertainment and events, the average open rate is 20.51%, and the average click rate is 2.36%. Th re are a lot more categories in their survey. In all the categories, the average unsubscribe rate is below 1%. Fo all the categories combined, the average open rate is 21.33%, and the average click rate is 2.62%. So the number says it all.
Also, people engage more with emails that contain beautiful images and emojis. Fu thermore, welcome emails have a higher open rate. We come emails generate 4X more open rates and 5X more clicks than usual emails (invest), generating 320% more revenue per email basis. (W rdstrem, Mention)
3. Em il marketing for B2B businesses:
Email is the most used content distribution medium for B2B companies and is considered the third most influential source of B2B audiences. Al ost 93% of B2B marketers use email to distribute their content, and 83% of them use e-newsletters as part of their content marketing program.
4. Em il marketing for B2C businesses:
Regarding B2C companies, 80% of business professionals believe email marketing increases customer retention. (E arsys, 2018) 59% of marketers claim that email is their most significant source of ROI. (E ma, 2018)
5. Pe sonalized Emails:
Customers want to be treated as individuals; in this case, a personalized email is the best thing to go for. Cu tomized emails ensure more engagement than usual emails. Th se personalized or custom email messages boost 14% click-through rates and 10% conversions. (C mpaign Monitor) Emails with customized messages had an open rate of 17.6%, while the open rate for emails that were not personalized had an open rate of 11.4%. (H bSpot) It has 29% higher unique open rates and 41% more unique click rates than non-personalized emails. (A tive Trail) Furthermore, personalized subject lines increase the email open rate by 26%. S we can see how effectively personalized emails ensure more public engagement.
6. Se entation:
Segmentation in email marketing is considered the most effective method for email personalization, and it generates 58% of the entire revenue. 51 of marketers claim that segmentation is one of their most successful email marketing strategies for email personalization. (H Spot, Forbes) Email marketing campaigns that are segmented get 14.31% more email opens and 100.95% more clicks than campaigns that are not segmented. (M lChimp) Unsubs and abuse rates are 9.37% and 3.90% lower in segmented campaigns compared to non-segmented campaigns. (M lChimp) Also, its bounce rate is 4.65% lower compared to non-segmented ones. (M lChimp)
7. Bu ness Growth:
Email marketing helps a lot in the growth of a business. Em l is considered the primary tool for customer retention and acquisition for any business. 81 of SMBs still depend on email as their primary tool for customer acquisition and 80% on retention. (E rsys, 2018) Research finds that emails are way ahead of social media when it comes to the actual growth of the business, as they ensure more one-on-one engagement. It an’t be said that social media doesn’t have any impact, but email marketing is much more beneficial than social media.
8. Pe le end up purchasing:
People love getting promotional emails, and surveys show that 60% of people buy something from a promotional email. It only 12.5% when it comes to social media. (O inMonster) So, email marketing proves that it is way more beneficial in this case. Ev sending abandon cart emails to customers is also very helpful because, in this case, many people buy what they keep in their cart. Se ing three abandoned cart emails produces 69% more orders than a single email. (O isend, 2018)
9. Op mized for mobile phones:
Almost everyone owns a smartphone these days, and it is not unusual for someone to check his email via a smartphone or tablet. Mo le devices reported at least 50% of email readings. Go le claims that 75% of Gmail users use their phones to check their emails. Pe le check their emails on smartphones, but that doesn’t mean they don’t check their emails on desktops. 23 of people who check emails on their smartphones again check their emails on desktops, and these types of customers have a higher chance of clicking through. On he other hand, 42.3% of people will end up deleting the email if it’s not optimized for mobile phones. Ho ver, some email marketing tools or services provide unique templates to
10. Pe le want to hear from companies:
Customers usually love to receive promotional emails from companies regularly. St istics show that 49% of customers like receiving promotional emails weekly. So email marketing is a useful tool for increasing customer engagement.
Tips:
Now, let’s talk about some short yet valuable tips that you can use to gain maximum positive results out of email marketing.
1. We ome emails generate more public engagement than usual emails.
2. Em ls containing emojis ensure people’s attention.
3. Th best time to email is between 10-11 AM.
4. Em ls containing images ensure more people’s engagement.
5. Ha ng a mobile-friendly design.
6. Of ring something valuable.
7. Pu the reader first.
8. Ma it simple, clear, and straightforward.
9. Wr ing a fantastic subject line.
Conclusion:
Email marketing is one of the most valuable ways of making a business run and getting connected to customers in a much better way. It s relevant and trustworthy. Th above statistics prove how engaging, profitable, and valuable email marketing is. So hat are you waiting for? Ge into email marketing and make your business grow.
