Does email marketing still work in 2020?
Everybody among us have received emails which are promotional or informative telling us about some kind of product or service. But how many are capable of catching our attention and we go through them fully!
And that’s one of the reasons people think Email marketing is dying. But this is not the truth. Please don’t believe it!
Email Marketing is quite a useful marketing tool, though it feels like a long shot. It is because of the rapid growth of social media and financial backing from companies, the majority of professionals predict the death of email marketing.
However, individuals with this perception forget that when the strategy isn’t working, then it might be a high probability the content in the mail might not be of interest to the recipient.
Basically, the success or failure of this tool depends upon the relevant content which is sent to the recipient.
Corporations also fall short by tirelessly sending out emails, with 78% of recipients claiming to have cancelled their subscriptions due to the bombardment of mail they receive.
Other than making sure the content is relevant, you can include some call-to-actions that motivate readers to click exactly where we want.
With the turn of the decade, one may be wondering whether email marketing will still be effective in 2020. Well, the answer to that is, of course.
Email Marketing Statistics
Email Marketing stats show that it will stay and it is not dying. To talk on data, we send 102.6 trillion emails each year, with the numbers predicted to reach 126.7 trillion by 2022.
So, who’s sending and receiving all these emails? Well, in India alone, it turns out that over 90% of persons over 15 years old which reside in tier 1 cities.
Despite the fast pace in the growth of social media messaging apps, over 3/4 of teenagers still use Email. It’s actually considered as a fact of daily life.
92% of web users in tier 1 cities of India have an email account which means that practically everybody has an email, unlike with social media where not everyone has opened up an account.
Most of us have an attachment to our mail with well over 90% checking our mail daily. There are those of us that check it as much as 20 times a day thanks to the rise of mobile platforms that make access super easy.
Over half of us check the mail first before doing anything online. As a result, email marketing remains one of the most effective methods of getting your content in front of the people who want it most.
Email vs Social Media
Social Media; 14.0%
Company Intranet; 3.0%
According to Radicati Group, 2020 email user numbers are expected to grow to 3 billion. With such numbers, it’s hard to leave any room for doubt concerning the limitless potential the tool has if included in a company’s digital strategy.
The key takeaway from all these is that regardless of the age group you’re targeting or their geographical location, email marketing remains an effective way of reaching your audience.
It will reach most of the individuals (85%) it’s intended for. Email has a click-through rate of 3.71% across all industries and an average open rate of 22.86%. Additionally, the unsubscribe rate, on average, is 0.21%.
Despite these impressive numbers, companies are still focusing more of their marketing budgets on social media although it only has an engagement rate of .58%.
Consumers and Email Marketing
Adestra suggests that consumers prefer communicating via Email with the brand they feel connected with. Content marketing distribution channels by order of importance put Email at over 90%. Marketers, on the other hand, prefer Email. It’s usually rated ‘important’ or ‘extremely important’ to content distribution efforts.
However, it’s not going to be all good. As a marketer, you’ll have to figure out exactly how consumers will respond to the emails. You should be aware of the top reasons’ consumers may unsubscribe from getting your mails.
This is because 53.49% of sent emails are classified to be spam. You can see how easy it can be for consumers to be put off by the wrong emails. Consumers today can fight back by reporting the emails as spam, sometimes solely because marketers get the frequency and content wrong even if the mail isn’t spam.
What we can draw from this is that consumers hold all of the chips and can block and/or delete irrelevant ‘junk’ emails cluttering the inbox. But one way you can ensure your mail isn’t axed is to include smart personalization going beyond subscriber first names and learn how to utilize Smart Tags to make the marketing campaign more engaging.
Email Marketing Benefits
There are numerous advantages associated with email marketing. When harnessed correctly, it can leverage sales, create new consumers and assist in their retention. This is in contrast with social networks that need to engage people first before they’re customers.
According to McKinsey & Company, Email marketing is 40 times more effective as compared to social media. The study also says that the speed of purchase is 3 times faster compared to social media.
Remember us saying how email usage is so predominant among consumers? Well, it turns out they use it to find deals and shop online. Marketing Sherpa suggests that around 60% of consumers have subscribed to a brand’s promotional newsletters, messages and deals compared to just 20% following brands on social. People actually prefer receiving business info via mail.
Email Marketing ROI
Is investing in email marketing in 2020 worth it? YES, it is! The comparison of social media vs email marketing shows Email outshines social by miles. Did you know email marketing can bring a potential 4400% ROI? Meaning that for each dollar you’re spending on email marketing, you’ll be earning $44 return which is just ridiculous.
The stats are clear as to what email marketing delivers. Yet, despite these astronomical ROI numbers, the average company spends only 13% of its marketing budget on email, even though it results in 19% of sales.
So, email marketing in 2020 still remains the best and most effective method of attracting and retaining customers. It can keep your business afloat, or propel it into the stratosphere, with a potential ROI of up to 4400%.
That prospect is just out of this world and beyond any marketers’ wildest dream. So, ensure you refine your email marketing strategy for 2020 if you want your business to grow to unprecedented heights.
Contact PrimeValue to Learn More About Our Email Marketing Strategy
In 2020, email marketing is stronger than ever and brings with it an array of advantages and potential that if explored, can make your company achieve big things.
With a well-planned strategy and good practice, developed by the email marketing team at PrimeValue, 2020 could be the fiscal year you deserve.