Will Email Marketing Work for Our Business?
Updated: Oct 31, 2022
With the rising popularity of different social media channels, some marketers think that people have abandoned email marketing in favour of newer digital marketing strategies.
However, market studies suggest that email marketing is still the most powerful tool to take a business to the next level. Email marketing still delivers the highest ROI of all marketing channels. When done correctly, email marketing can be a highly effective way to communicate with customers and should be a staple of almost any business marketing strategy.
To put things in perspective, there are around 4 billion people worldwide who use email. There are more email users than Facebook and Twitter users combined. In the United States alone, the majority of Americans check their email daily and by daily, we mean several times a day.
Email is seen, read and interacted with 24/7. It is effective, it’s affordable and it works.
Here are some insights why you want email marketing in your digital marketing strategy.
While Facebook and Twitter boast that they have billions of users, the figure is incomparable to the number of email users. In fact, you cannot register for a social media account without having an email. Conversely, many email users shun away from social media such as Facebook, Instagram and Twitter to protect their privacy.
In addition, the vast contrast between email marketing over social media advertising is the quality of the content that is being presented. Most consumers prefer to receive emails that are tailored specifically to them. There is more chance that the message you sent through email will be read by your prospect.
There’s a misconception that email marketing is not valuable to the success of one’s business. Various surveys and studies refute the allegation.
In addition, e-commerce software firm Monetate found that 4.24% of visitors from email marketing buy something compared to only 2.49% of visitors from search engines and 0.59% from social media.
Therefore, Email Marketing is the best marketing tool for inexpensive and trouble-free compared to other marketing like print and online advertising.
While many brands opt to use social media platforms, Facebook for instance has updated its algorithm to reduce the number of followers that may see a brand’s post, unless it’s a paid advertisement.
Undeniably, Facebook is owned and controlled by third parties which mean that marketers are at the mercy of changes.
In the meantime, email is not regulated or controlled by any organisation or entity. Therefore, no other party can make changes that would have a widespread effect. If you invest the time and money into building and cultivating a great email list it is an asset you own.
Email is not going anywhere
Many social media platforms come and go. Have you heard about Friendster and MySpace? These two social media platforms were once famous before Facebook, Instagram and Twitter. But where are they now? Many of the new generations haven’t heard of their existence. Whereas, email has been in existence and will continue to be sol for as long as we have email and internet..
Email Marketing is absolute to have in your marketing strategy. To make it work effectively you need to understand your email metrics. In an age where data-driven marketing is more important than ever, you need to know what data to track for your emails. Measuring the performance of your campaigns is key to your success. There are 11 important email marketing metrics that every marketer should measure. These are Open rate, click-through rate (CTR), Bounce rate, Unsubscribe rate, List growth rate, Spam score, Forwarding rate, Engagement over time, Device open rate, Conversion rate and Overall ROI.
Out of these 11 metrics, the two most important metrics that you should pay attention to are Open rates and click-through rates. Open rates tell you what percentage of your subscribers opened your email.
Having a subject line that connects to your audience will help you increase your open rate.
Click-Through Rate is the percentage of users who click on the links in your email. A high CTR implies that the reader finds your email engaging. Having a CTA (Call-To-Action), an image or a video in your content can help increase your CTR.
Understanding these metrics will help you measure how effective your email marketing is and will serve as a guide for you to identify areas for improvement in your campaigns.
If you still need help with your email marketing, DigitalxMarketing can provide you with digital marketing strategies to help your business grow. We make data-driven decisions that can deliver a relevant solution to your business model, products and services.