With the rise of more advanced digital marketing channels in the market, there’s a growing skepticism toward the effectiveness of email marketing. Yet while some might think that email has lost its relevance, for marketers email remains unrivaled. It’s still the most powerful tool in building brand awareness, reinforcing customer relationships, and driving revenue—besting SEO, social media, paid search, and affiliate marketing.
In fact, email marketing yields the highest return on investment (ROI) among all marketing channels. Indeed, businesses can benefit from keeping this weapon tucked in their toolbox, especially as it continues to gain more traction in the digital marketing scene. But why? What can companies get from cashing in on this traditional medium that they can’t get from any other marketing approaches out there?
Lost Cost, High Rewards
With email, marketers don’t need to shell out big bucks to see a rise in their ROIs. They could easily generate an ROI as high as 4,400% through email campaigns, which is far greater than the average ROI generated from paid advertising (200%). This organic approach comes in handy, especially to new businesses that don’t have the budget for mainstream channels. To add to that, email performs well across major benchmarks. It has an impressive average open rate of 17%, a click-through rate of 2.60%, and a conversion rate of 5%, which only proves that email is a low-risk investment with high-yielding results.
When it comes to delivering personalized experiences, email is your best bet. Email helps businesses engage their audiences in the most impactful way possible. From first-name personalization to real-time targeting, companies can use different email personalization tactics to make lasting impressions on their subscribers. In fact, 71% of consumers revealed that they are more likely to be engaged with or moved by emails that are tailor-made and relevant to them. Furthermore, the read rate of email campaigns can soar as high as 50% through personalization. No doubt, the impact of personalization on customer interactions is quite remarkable. Businesses looking to build meaningful and lasting connections with their consumers can surely benefit from this.
Chance to Re-Calibrate
Through A/B testing, businesses have the chance to optimize their email campaigns on the fly. Unlike other channels, email allows them to test which campaign variant will generate optimal results in terms of open rate, click-through rate, and ROI. They can look into different elements of an email campaign, from subject line to content format, to send time, and see which yields the most impressive numbers across metrics. Certainly, A/B testing offers critical insights into launching successful marketing campaigns.
Extensive Mobile Influence
While some might say that SMS is the best way to reach mobile users, marketing experts argue that email is still the most effective method. According to reports, at least 42% of email campaigns are opened on handheld devices while 17% are read on tablets. This means that there are more chances of reaching mobile users through email marketing than SMS marketing. Indeed, email has extended its influence to smartphones, making it a dependable tool in mobile marketing. Companies don’t need to rely on applications, push notifications, and text messaging for mobile marketing campaigns; they can use email to effectively reach mobile users.
Results Within Minutes
Much like social media, the results of email campaigns can be seen almost instantaneously. Compared to mainstream channels, which take a long time before the results come out, there’s no need to wait for an hour or a day to find out how your marketing efforts performed across metrics. By using email marketing platforms, businesses get to see the impact of their campaigns within a few minutes, giving them enough time to re-evaluate their strategies. From click rates, to bounce rates, to unsubscribe rates, companies get to see upfront the comprehensive assessment of their marketing efforts without delay.