If email marketing doesn't have a presence in your business plan, then this year's fresh batch of statistics might help to convince you that it should be.
Even before the arrival of COVID-19, consumers from all walks of life were already moving online. As we’re increasingly time poor, sourcing products and services digitally just makes sense for a lot of us. Unfortunately, the competition is tough out there on the internet, and expectations are high when it comes to customer service, efficiency and a brand’s performance. As such, email marketing is a form of advertising that businesses can use as a tool to leverage people that already expect - and even want - to hear from them.
If you’re a brand or business trying to make your mark in the digital age, technically every email we send to a client can be classed as email marketing. Specifically, the term is used for a commercial message, such as a flyer, text, image or even meme, sent from a brand or business to an individual, or cluster of new and existing customers.
Thankfully, as technology progressed, so has customisation. These days, options for email marketing are vast and varied - the quality of content and personalisation options have dramatically improved. When actioned well, an email based digital marketing strategy, otherwise shortened to EDM, can convert prospects into loyal, raving fans: something that no amount of money can buy.
Your Guide To Email Marketing Practices In 2021
Although email marketing was one of the first digital strategies used to connect with new and existing customers, many brands have shied away from using it, with some digital marketing strategists even declaring the practice as “dead” when compared to newer and flashier marketing techniques. However, any good marketing professional should know that numbers don’t lie, and the statistics indicate that email marketing is stronger than ever in 2021.
According to research published by marketing giant Hubspot, email marketing generates $42 for every $1 spent. With a gobsmacking 4200% return on investment, it would seem that email marketing isn’t a form of advertising that’s on its way out after all. If you’re on the fence about embracing this “old school” format, then these new figures outlined below might just convert you.
- There are four billion daily email users around the world.
- More than 40% of marketers were dealt budget cuts thanks to the pandemic.
- 64% of small businesses use email marketing to reach their customers.
- Almost one in five campaigns are not properly optimised for mobile devices.
- Segmented campaigns via email can boost revenue by as much as 760%.
- 35% of marketers email their customers between 3 and 5 times per week.
- 78% of marketers have seen a noticeable increase in email engagement in 2021.
- 20% of e-commerce traders have used personalised email marketing.
- 74% of Boomers view email as the most personal communication channel in business.
- 4/5 marketers have said that they’d give social media the flick over email marketing.
On top of these numbers, email marketing is big business. So much so, that while the global email marketing sector was valued at $7.5 billion in 2020, it’s projected to increase to $17.9 billion by 2027.
It’s also worth noting that email marketing is one of the most powerful tactics to deploy when it comes to boosting your customer retention rate. Did you know that you’re 70% more likely to close an existing customer, as opposed to 5 to 20% for new prospects? Audiences who have purchased from you before are already familiar with your brand, and are also more likely to spend more now that they trust you.
When you’re 'pitching' to a potential new client, it takes time and resources. In comparison, doing business with an existing client cuts out a lot of the “selling” as they know what they’re signing up for. In turn, having a solid base of return customers also helps to cut down on expenses, with email marketing being one of the best methods to help get you there.
If you’re new to the email marketing arena, never fear - as the practice is actually pretty straightforward. Once you have a decent email list built up, start using email marketing to recapture abandoned carts or checkouts, offer discounts for loyal returning customers, and advise clients on new products or services based on their previous purchases. It’s also a great way to send out a digital newsletter, or to keep your clients in the loop with industry changes or updates that might affect them. To make sure that your efforts pop, try using free software programs such as Hubspot, MailChimp or one of the many other free email marketing tools out there on the internet.
Once you’re ready to start measuring your success, pay careful attention to the right metrics and analytics that these platforms provide. According to industry leader Campaign Monitor, average email benchmarks for all sectors are as following:
- Average open rate - 18.0%
- Average click-through rate - 2.6%
- Average click-to-open rate - 14.1%
Average unsubscribe rate - 0.1%
If your numbers aren’t sitting where you would like them to be, pay careful attention to the frequency of your emails, the type of content you’re including in them, the quality of your email list, and the type of subject lines you’re choosing, as any one of these can usually be identified as the key perpetrator.
When email marketing is paired with dynamic retargeting across social media and a strong blog on your website, you’re going to be at the forefront of consumers' minds when they think of a particular product or service - which is ultimately the end goal for any marketing professional.
The Key To Good Marketing Is Great Content
Producing quality, consistent and on brand content that’s Google friendly takes time, effort, experience and resources - and you’re not alone if you can’t quite commit to that. Avoiding the use of content marketing altogether may actually be doing your brand a disservice, but thankfully - investing in a solid strategy has never been easier.
Here at Content Hive, producing top quality digital content is exactly what we do best. We have itemised a list of digital content services, and allocated credits next to each of these. This means that each month, you can use your credits with us to produce digital content such as social media posts, blog articles, videos and even animated Instagram stories.
We believe that this model means we can produce high quality content in faster than normal delivery times. It also means that because you have a monthly credit, you are going to want to make sure you use these up - and so do we - meaning that your digital content is always consistent.
If you aren’t quite sure where to start on your digital marketing journey and would like to speak to a professional, why not book a free discovery call with us at Content Hive today to discuss how we can get your brand buzzing online.