There are over 3.9 billion email users worldwide, and in 2023 that number is estimated to be 4.3 billion. So, is the act of reaching out via email to prospects and potential customers a dying form of marketing?
Not a chance.
Why and how email marketing works is important to understand before creating your business’ email marketing strategy. Let’s dive into a few highlights of why email marketing still works and can be effective for your business.
Reach your target audience through email
Chances are high that your target audience has an email address and checks it daily. If you're a business that wants to grow, you should be strategically communicating in this way. There are several ways (social media, online ads, etc) to get your message out to prospects, but did you know that the most effective way is through email?
Email is 40x more effective at acquiring customers than Facebook and Twitter combined.
66% of customers report they have made a purchase based on an email they received.
91% of U.S adults like to receive emails from the companies they do business with.
Email Marketing is Cost Effective
Email marketing can be done easily and inexpensively!
Particularly compared to traditional marketing of direct mail, in which postage and printing can really add up. Email marketing allows the same creativity of design and copy, same reliability of delivery to your target persona, and even better ability to get access to the users next step (clicking through to your website).
The price tag is a big “win” for email marketing because it doesn’t discriminate against big or small brands. It's a marketing technique that is accessible to all and provides ROI (if done right). Constant Contact notes that the average ROI for email marketing is $38 for every $1 spent.
Segment Your Lists
Segmenting your email lists allows you to highly target your prospects and to create smaller email blasts that connect more personally to the user. Email campaigns segmented by user interest see 74.53% higher click rates as compared to non-segmented campaigns.
Some examples of how to segment your email marketing list are behavioral, geographic, or demographic segments.
Track Your Data
Email marketing comes with data. Most email providers give evidence of how many (and WHO) have unsubscribed, opened, and clicked through your email are important to measuring your strategy as a whole.
Constant Contact even publishes annual averages across industries, so you can track how you are doing in your business’ industry. This digital technique allows for information to grow and improve your strategy along the way.
If email marketing is “dead” for your business perhaps you should evaluate your strategy and tactics before you write off the method as a whole. A strategy and plan to how you create email marketing for your business can make a big impact.