If you think the rise of social media marketing, pay-per-click (PPC), and SMS marketing will slowly decrease the value of email marketing, then you are wrong. If we look into the statistics, email is still the most popular marketing channel out there.
According to Statista, the global email users amounted to 3.9 billion in 2019! -Yes, that’s a billion with a B!
And no, there’s no sign of slowing down here. The same study also suggests that email users will amount to around 4.48 billion by 2024. It’s also worth mentioning that the average Americans spend around five hours per day in their email inbox!
Here goes a few more email marketing statistics to prove email marketing’s superiority over the other internet marketing channels:
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Now we might have cluttered this blog post a bit with email marketing statistics. But why does email marketing keep generating these incredible stats?
Well, that’s what we’re about to explain here!
Why is email marketing important?
Email marketing works because it enables businesses to generate new leads, converts lead into customers, and increases customer retention! Apart from that, email helps businesses in many ways. And in this article, we’ll give you the top 12 reasons why email marketing is more important than any other digital marketing channel!
1. Email marketing helps grow your business
Customer acquisition is still one of the biggest challenges for marketers. In fact, 49% of marketers stated that customer acquisition is their first priority in digital marketing. With a little help from content marketing and promotional events, you can generate email leads for your business. However, the key lies in turning the leads into customers. That’s precisely when email marketing comes into play.
Once you establish strong communication with your lead, you can focus on a lead retaining policy that educates your lead, increases engagement, and boosts their trust. These will convince your leads to purchase your products. No other digital marketing will give you opportunities to grow your business.
2. You can build stronger customer relationships with email marketing
An average business loses 20%-80% of its customers annually, simply because they didn’t create relationships with their customers.
Having sound communication with customers is more important than you think. Better customer relationships result in increasing sales, delivers invaluable marketing, and boosts revenue.
On the other hand, customers eventually forget about your brand if you don’t communicate with them.
Email is a genuinely effective communication channel for getting in touch with your audience and establishing a special relationship with your leads. As long as they have opted to receive your emails, and you give them something worth reading, they will never complain about your emails. Therefore, you can often reach out to your audience, steadily inform and educate them, and build better customer relationships.
3. You can create efficient customer retention policies
Edelman trust’s study suggests that today’s customers want to trust brands more than ever. This essentially means that customers will make purchases from brands that they trust. That’s the truth indeed, existing customers are 60%-70% more likely to make repurchases than potential customers.
Hence, it’s safe to assume that customer retention is equally important (if not more) than new customer acquisition. It helps reduce customer churn and boosts the customer’s lifetime value (CLV). Moreover, an excellent customer retention policy can increase brand advocacy.
4. Opportunity to achieve brand advocacy
Brand advocacy happens when your customers are so satisfied with your brand that they would recommend your brand to their friends and family. This can be way more powerful than your regular marketing efforts because 92% of people trust recommendations from their friends and family.
With email marketing, you can reach your audience with personalized messages frequently, address their pain points, gather feedback, reward their loyalty and empathize with them by tapping into their emotions. This allows you to miraculously improve your customer retention rate and maximize your revenue!
5. Email marketing helps you to stay in touch with your audience
Again, customers want to trust brands more than ever. And to build that trust, businesses rely on increasing customer engagement. A study on B2B content marketing benchmarks, budgets, and trends conducted by Content Marketing Institute found that around 87% of marketers depend on email to distribute their content.
Perhaps, it’s because email is a reliable communication medium for interacting with their audiences. Emails go through a strict spam filtering process that ensures less junk and more value. And businesses can only reach the customer’s inboxes if they have permission for doing so.
From the customer’s point of view, this ensures that they’ll get what they expected, without experiencing the annoyance of getting pointless newsletters and promotional offers. Hence, you can always reach out to your audience and keep them informed with news, updates, and offers to build trust among them.
6. The opportunity of personalized communication
The rise of CRM and email marketing automation software has finally given businesses a remarkable personalization opportunity. Now companies can track their audiences and get in-depth contact overviews. This allows businesses to understand and segment their audiences to tailor personalized messages.
CRM and email marketing automation software have made personalization so convenient that now you can mention your customer’s name or include their basic information inside an email. In fact, you can personalize entire email content based on segments.
Segmented and targeted emails generate a whopping 58% of all revenue by emails. Simply including an email recipient’s name can increase the email open rate by 26% while you can see an incredible 760% revenue increase by segmenting your email campaigns.
What about the consumers?
Well, Adobe’s consumer demand survey suggests that 67% of consumers want to see personalized content, and 42% of them would be annoyed by content that isn’t tailored for them. Hence, personalization is vital. And there’s only email marketing that allows you to tailor personalized content!
7. Make your campaigns more profitable and cost-effective
The best part about email marketing is that it’s the most profitable digital marketing channel with a staggering 3800% R.O.I.
Wondering how email marketing is so profitable? That’s because there’s less cost involved!
In email marketing, you’ll only bear the marketer’s salary who’ll write the emails and the marketing automation software’s price that you’ll be using. Once you’re done writing the emails, there are no additional costs for the clicks or opens. This compared to other marketing channels is cost-efficient because most will charge you based on clicks.
However, your marketing automation software’s cost can be a headache as they generally cost more businesses as they grow. The cost is usually adjusted based on the number of contacts you have and the number of emails you send out.
Popular marketing automation solutions like MailChimp cost up to $80 every month for up to 5000 contacts. This might be affordable for businesses that are making excellent profits, but small businesses will still struggle to afford such software.
Thanks to self-hosting, marketing automation is more affordable now. Self-hosted marketing automation software doesn’t charge based on the number of contacts a user has and works well with any affordable email sending service.
Here’s a suggestion if you’re running your business on WordPress, grab a self-hosted marketing automation plugin instead of the expensive cloud-based automation tools. You can try FluentCRM. It’s our own email marketing automation plugin that costs only $129 per year. It does not require any extension and works well with every email service. This means you can pair up FluentCRM with inexpensive transactional email services like Amazon SES and enjoy complete marketing automation for a minimal cost.
Marketing automation for WordPressGet FluentCRM Now
8. Email marketing is scalable (and helps you discover valuable insights)
In marketing, there’s no guesswork. Unless you don’t have accurate data to measure your marketing efforts, you won’t understand what to do next.
Email marketing provides you with reliable and measurable data and allows you to discover valuable insights about your audience. Today’s email marketing clients can do much more than simply letting you check your subscriber growth and reduction. They track every sent email and show you reports of opened, clicked, and bounced emails.
Apart from giving you proper measurable data about your email campaign’s performance, email marketing clients work simultaneously with your CRM or marketing automation software. This helps you get more insights into your customer’s persona and behavior so that you can test or tweak your marketing and improve your marketing like never before!
9. More effective than social media
Statistically, social media is one of the most popular mediums for people who want to have an online appearance. In fact, nearly 80% of all internet users have at least one social media account. Thus, social media is surely an excellent marketing channel for driving leads and increasing brand visibility.
Don’t get us wrong, but most people use social media accounts for casual online appearances and communication purposes. That’s where email marketing’s efficiency comes in. Unlike social media, email is a necessity for internet users. In fact, almost every internet user has an email account and people check their email inbox more often compared to their social media accounts.
Email marketing has its own benefits of being a one versus one (1v1) communication medium. Businesses across the world prefer email because it gives them complete control and allows them to generate potential customers. In addition, it lets businesses segment their leads for sending personalized content and enable them to A/B test their emails for determining the best way to launch near-perfect marketing campaigns!
While social media limits the number of people who see a post. Email marketing does not have such limitations. Although you can segment your campaign to some extent on social media platforms, it’s nowhere near what email marketing can offer. Hence, email marketing still stands at the top for increasing engagement and driving sales.
Find out whether you should use email marketing or social media marketing for a specific purpose: Email marketing vs social media marketing: which is for what?
10. Mobile users check their email inbox constantly
Smartphones are becoming increasingly common. They have become people’s go-to solution for connecting with their friends, family, businesses, and whatnot! People are checking mobile phones all the time- at the movies, grocery stores, waiting rooms, or whenever it’s convenient for them.
According to Resquetime, smartphone users spend 3.15 hours on their phone screens every day. While this can indicate that the users are mostly checking out social media platforms, it’s not the truth.
Exacttarget’s survey suggests that 91% of mobile users use smartphones to check their emails. This is compared to the 75% of mobile users who use mobile phones to access social media platforms. Besides, 50% of all emails are opened on a mobile device and they generate a staggering 4.29% conversion rate!
Hence, the growing popularity of smartphones isn’t decreasing email marketing’s importance, but increasing it significantly!
11. Email marketing generates result faster
It’s easy to assume why email generates results faster. Once your emails are delivered into your recipient’s inboxes, they can immediately open and read your email. And because everyone’s got a smartphone, this has become even easier.
Although some people tend to skip notifications or promotional emails, some keep them to read later and most people open transactional emails. Those who keep them to read later also read the emails within 24 hours. As a result, email marketing usually produces results within a day or two!
12. Create instant hypes!
Not all customers are the same. Every customer is a unique entity that loves to feel special, especially if it means that being special comes with the excitement of being the first one your business cares about. Email tops the list of marketing channels that allow you to not only find your special customers but also allows you to directly connect with these customers regarding your loyalty program.
Besides, even if you’re only starting out and do not want to start a reward program right away, you’ll surely have one or two promotional campaigns coming up. You can utilize email marketing to notify your potential customers about these offers and create excitement about your discount campaign. Or better, if you have a giveaway program that you believe will attract customers, you can use email marketing to create a buzz about it!
13. Win back your past customers
70-80% of eCommerce customers never come back. And that’s why customer churn is always an issue for online businesses. Email marketing solves this issue by allowing you to build wonderful customer relationships. However, if your relationship-building strategies don’t work, it doesn’t mean you are going to lose your customers. With email marketing, you can always win back your past customers.
Modern-day email marketing software helps you find your historic customers by segmenting them. Besides, if you dig a little, they’ll let you discover the reasons behind customer churn. This gives you an opportunity to solve the problems behind customer churn and enables you to reach them with appropriate offers and deals to win them back!
Bonus: You can put email marketing on autopilot
If you’re a businessman, time is one of your biggest enemies. Why?
Because you have to focus on a lot of things at the same time. From managing your business to taking care of finances, you probably won’t have enough time to improve your marketing strategies.
Email marketing automation gives you the luxury of cruising on autopilot. With marketing automation software, you can easily automate your campaigns and focus on the other sectors your business needs to improve.
Having a marketing automation tool at your disposal means that you’ll spend some time only when you’re writing the emails or setting up the automation. And the best part about automation is it can be triggered by your customer’s actions! Suppose, you know your users will take an action, you can then reach out to them based on that action. This allows you to impress your audiences by reaching out to them timely and effectively.
In addition, email marketing instantly generates follow-up information about those interactions, which you can use to step up your marketing efforts!
To sum up…
Communication is the best way a business can grow and excel. The personalized touch to your email will give you a competitive edge over your competitors. That’s why email marketing is invaluable for connecting with your customers. It’s convenient, reliable, flexible, and cost-effective compared to any other marketing channel in the world. And that’s exactly why email marketing keeps generating incredible positive marketing results, even in 2021!