Email marketing is far from dead! It continues to be one of the most effective marketing strategies to connect with your customers, promote your products and services, and strengthen your brand’s online presence. However, building successful email campaigns can be both a rewarding and challenging experience.
At GRIT Online, we compiled some of the most relevant email marketing statistics that could help you plan your email marketing tactics:
Why Invest in Email Marketing
There are around 4 billion email users today. According to our research, projections show this number increasing to 4.3 billion by 2023. This would represent more than half of the world’s population!
Email marketing enables you to reach and connect with your existing clients and 4.3 billion potential clients. This is the beauty and the magic of email lists. People you never met might subscribe to your newsletters and learn about your products, and you can reach a larger audience for the same effort it takes you to write one email.
Email marketing reaches your clients right on their inbox. No extra effort is required on their part. Over half of consumers say marketing emails influence their purchasing decisions. Take advantage of email marketing’s power by showcasing your products and services and highlighting the value clients would get for purchasing them.
You are helping your clients by ensuring they have information on the products that would be relevant for them, and that they are not missing out on any sales and opportunities.
Despite the steady rise of social media, only 20% of consumers want to receive advertising messages on their social media accounts. Most users prefer to receive promotional updates straight to their email accounts.
Email promotions also make it easier for users to keep track of their products of interest and act on them.
Email is still unbeatable with its average open rate of 22.86% and an engagement rate of 3.71%, compared to social media with an overall engagement rate of 0.58% for platforms such as Facebook, Instagram, and Twitter.
An effective and well-planned email marketing strategy exudes undeniable benefits, including the significant return on investment that can help boost your sales and keep your business going. Our research shows that the Return on Investment (ROI) on email marketing can be up to $42 for every $1 you spend.
Structuring the Right Email Marketing Strategy
Although 60% of users prefer email as a platform, only 14% think the emails they receive are relevant. So, this is where you want to be very focused: make sure that each marketing email you are sending out is useful to your target audience.
Creating relevant content for your subscribers is the best way to attract and retain them. Segmented campaigns are great for that.
Segmentation or the division of your contacts into smaller sets based on different criteria is an effective way of personalizing your marketing emails and delivering relevant content to the right subscribers.
This can help you achieve better open rates and click-through rates. Our research shows that segmented campaigns rank 14.31% higher than unsegmented ones.
Transactional emails are are automated emails triggered by the users’ specific action on the website, such as interactions or form submissions, and responses to events.
And here is why it is the best choice for you: non-transactional emails have a click-through rate of 1.6%; transactional emails outperform this click-through rate by 3.2% with an average click-through rate (CTR) of 4.8%.
Transactional emails also have a click to open rate (CTOR) of 2.3%, which means more people are opening and engaging with your content. This could result from marketers finding ways to add more value and drive higher engagement to transactional emails.
Mobile devices dominate over desktop and webmail reading environments as users open most of their emails on their mobile phones. In particular, the iPhone is the top mobile device for emails at 28.4%.
Businesses must adapt to the rapidly growing mobile transformation by having a mobile-first approach to their email marketing strategy. Avoid the risk of losing opens, click-throughs, and conversions by ensuring that your emails look professional and beautiful across different devices and formats.
Email Marketing for Businesses
91% of business-to-business (B2B) marketers believe that email is a crucial part of their content marketing distribution strategies [source]
Consumers were not the only ones who preferred to communicate with brands through email, as business-to-business marketers also deem email a crucial part of their distribution’s efforts for content marketing.
Increasing engagement is one of the top objectives and challenges among marketers despite various email marketing distribution efforts. Although 67% of marketers consider email marketing to increase engagement, 50% also say engagement is one of the biggest challenges.
Integrating email automation into your marketing strategy gives your business a competitive advantage. Creating a workflow that allows your emails to be on autopilot while you focus on other important tasks in your business will increase your outreach while also boosting your productivity.
Advice from the Experts
Using age data is a common way to personalize marketing email content, compared to the 38% of marketers who use the same information to personalize their social media content.
In addition to considering this time of the day when sending out your emails, you can also opt to send them on Tuesdays and Thursdays if you aim for the best days open rates and click-throughs. Meanwhile, sending them on Sundays and Mondays is ideal for higher transaction rates. Although this gives you a great idea of when to schedule marketing emails, testing different days and times is still the best way to figure out what suits your business.
It’s time to rethink how you approach your email campaigns by making informed decisions based on these email marketing statistics. Need help with your business’s email marketing strategy? Contact GRIT Online today for a free expert consultation.