Email marketing is one of the earliest and most basic forms of digital marketing available in the modern world. It involves sending regular email messages to individuals on your mailing list regarding company updates, new products or offerings, promotional deals, etc.
However, with the emergence of trendier digital marketing platforms like social media, email marketing might have taken a back seat.
This begs the question of whether email marketing still works. Should businesses still invest their time and resources in crafting an email marketing strategy, or has this marketing method become obsolete?
Does Email Marketing Still Work?
The short answer is yes. Email marketing is still as relevant as it has been in the past, if not more. Research shows that email marketing generates a return on investment (ROI) of up to 42:1, or $42 for every dollar spent.
This makes sense, as nearly every person online has a working email address. It’s an integral part of the online experience. In 2020, over 4 billion people had email accounts, a number projected to reach 4.6 billion by 2025.
The global email marketing industry is also expected to grow in the coming years, a testament to its effectiveness and relevance for businesses worldwide.
The Advantages of Email Marketing
Email marketing remains effective in reaching out to and sustaining a consistent customer base. What keeps it relevant amidst flashier, trendier marketing methods? Let’s find out.
Produces Cost-Effective Campaigns
Running an email marketing campaign is usually less costly than other forms of digital marketing. There is no need for printing costs or buying ad space. Production would usually only involve writing copy and simple graphic design.
Due to this, you could churn out high-quality email marketing campaigns in a short time, with little initial cost and a high Return on Investment (ROI).
Provides Direct and Indirect Customer Feedback
In email marketing, it’s crucial to track your metrics to determine how effective your email campaigns are. The most common metrics that determine the performance of your campaigns are your open rates and click-through rates.
If you have high open rates, this could show your audience’s familiarity with or interest in your brand. They know your brand well enough or are curious enough about your offerings to open your email and see what you have to say.
High click-through rates often show an effective campaign. This means that your audience took the time to read your email and click through the included links.
Creates Personalized, Targeted Content
Audiences respond better to content that feels specific to them. Email is an excellent avenue for personalized content, as it feels more like one-on-one correspondence than other marketing platforms.
One of the easiest methods for email personalization is including the recipient’s first name in the message. You could also segment your mailing list into groups with similar demographics or interests.
You can craft specific emails for each target group through segmentation and personalization and enjoy higher click-through rates.
Increases Website Traffic
When your website has a new piece of content or if there’s an update to your product or service offerings, how do you let your audience know? You send them an email.
An effective email marketing campaign can produce an influx in website traffic. Relevant website links and calls to action placed strategically in your email should entice audiences to click through and enjoy your website offerings. Thus, opening up the door for increased traffic and sales.
Improves Customer Relationships
Consistent communication with your customers is important in improving relationships and customer loyalty. When your customers observe that they can talk to you and receive valuable information and services, they are more likely to stick with your brand.
It’s challenging to reach every customer, even with modern communication methods. Email is an excellent way to bridge this gap and communicate personally, especially given the physical limitations of the global pandemic.
Email Marketing Lives on
We have been exposed to many new forms of digital communication that may seem like email has fallen into the shadows. Yet data still confirms the power and continuing relevance of email marketing. Simplicity does last, and email marketers still cheer at the effectiveness of their beloved strategy.