Email marketing is sending commercial messages to your connections, prospect clients, and business professionals via email.
Businesses prosper when you keep the customers aware of the recent development about the existing or the new products.
Though social media poses itself to be the best medium, email marketing still remains a powerful tool to softly educate the audience.
The global email marketing market is projected to increase to $17.9 billion by 2027 (Source: Statista). In another study quoted in HubSpot, an email ROI is projected at $36 for every $1 spent.
Using emails for marketing purposes to promote business products and services has now been a four decade old technique. The art of email marketing started in 1978. Since then, email marketing guides customers into engaging more with your company.
Email marketing is one of the most popular tools that help companies with their marketing campaigns. The powerful marketing channels assists in direct marketing in the age of digital marketing.
Emails have been an easy route to connect with the customers. It plays a major role in brand awareness, lead generation, converting sales, building relationships, or keeping customers engaged.
You can use emails to encourage customers to give in their personal information and leave a scope to connect with them.
The image shows how Grammarly wants to convert the lead by sending an email about the discount offer. Grammarly is a premium software for language and plagiarism checker in any content piece. The brand connects regularly with the receiver and offers a 50% discount on any plan.
Instead of waiting for the user to visit and use the software next time, the grammar checker chose to send email to its customers for further actions.
Email Marketing Highlights
These are the highlights of email marketing which you should know:
- The number of global email users is four billion and it is expected to grow to 4.6 billion users by the year 2025.
- Approximately 347.3 billion emails are exchanged but not all sent for the purpose of marketing.
- About 87% of marketers use email marketing to promote their content.
- The average email open rate is only 20.81%. This makes it important to have a creative subject line.
- 80% of businesses use email marketing to acquire and retain customers.
- People love to read welcome emails and the open rate for these emails is 82%.
- Emails with personalised subject lines have 50% higher open rates.
- Emails with videos offer better results. And they have higher clicks up to 300%.
- 33% of marketers send weekly emails and 26% send emails more than one time in a month.
- 77% of marketers have valued the increase in engagement over the last 12 months.
Importance of Email Marketing in 2023
Whether the users have shown a variable trend, email marketing is going to stay for long. Over the past few years, the use of email marketing has increased.
Studies have shown that marketing emails influence people’s buying decision and about 50% of people buy from the email marketing list at least once in a month.
These are the reasons why email marketing is important even when it is an old marketing tool:
- Email marketing is cost-effective
Data shows that 80% brands are successful in retaining customers. This alone could have been possible using email marketing. Companies have observed that return on investment is miraculously high from email marketing.
Email marketing works successfully only when you have a long emailing list. And for that you will have to use organic and paid marketing methods to drive traffic to your website. Then convert these visitors into email subscribers and develop them into loyal customers.
- Email marketing helps derive results
Email marketing is data-driven. You have a list of customers whom you approach through emails. This gives you detailed data on prospects that show signs of conversion.
Keeping a track of these metrics can help develop a strategy that is backed by data. For emails you can measure these:
- Clickthrough rates
- Response rates
- Conversion rates
- Email open rates
- Audience engagement
- Cold subscribers
- Number of individuals who unsubscribed.
- Revenue per email
- Lifetime customer value
The analysis can help you establish the facts like the best email sending time, how to engage the cold subscribers again, and see how the audience responds to different types of call to actions.
- Helps in personalization:
There can be millions of subscribers for your email but only a few of them would connect you for long periods of time. Personalization has helped brands to connect deeper with their customers.
The SS of the mail above shows the mail is addressed in the name of the reader giving a touch of personalisation. You can separate your audience and tag them considering these facts:
- Who purchases the products frequently.
- Who are the buyers who haven’t made any purchase and left the products in the cart for a long time. Did you know that the conversion rate for these emails is 10%. So if you are not taking an effort you are simply losing this money.
- Who opens your emails in a while.
- Personalising emails and subject lines can help to increase the open rates by 82% and increase the sales by 56%. You can personalise an email by adding these names, postal address, transaction history, mobile phones, date of birth, current location, online browsing history and IP address.
- Emails connect you deeper with the subscribers in comparison to followers:
Due to personalisation, the average email open rate is higher than the number of times the followers will see your post. It is because people may follow thousands of brands but they may not likely see all of the posts.
On the other hand, an individual receives about 121 emails on an average. The receivers are more likely to open an email against tracking the brands or influencers on social media.
Actionable Email Marketing Tips
These are the actionable email marketing tips that companies can follow:
- Tip 1: Test every email subject line before sending it. Use tools like CoScheduler to optimise the subject lines.
- Tip 2: Address the email with the real person’s name. Chances of opening a personalised mail is higher.
- Tip 3: Use power words in the subject line. Like “Your items are Back in Stock. Shop before they are gone soon.” Some of the effective power words include: %off, Breaking, Course, Free, Back in Stock, etc.
- Tip 4: Use numbers as these can influence the decision of the buyer. Numbers are concrete; it makes the intent compelling.
- Tip 5: Create curiosity in the readers. Click to know the fastest trick to convert your goals.
- Tip 6: Avoid using all CAPS.
- Tip 7: Experiment with Emojis.
- Tip 8: Keep it small and to the point.
- Tip 9: Include one CTA.
- Tip 10: Follow some writing tips to offer something valuable for the reader.
- Tip 11: Sell benefits and not the features. It gets easier to connect with the readers.
- Tip 12: Add PS if you want to add an extra link to the email.
FAQs on Email Marketing
Which are the best free email marketing tools?
These are the best free email marketing tools:
- HubSpot Email Marketing
- Benchmark Email
What is the best way to build an email strategy?
You can build an effective email strategy in the following way:
- Step 1: Identify the specific email marketing goals, that is, is it for customer retention or to cross-sell/upsell.
- Step 2: The email marketing strategy should align with digital marketing goals.
- Step 3: Follow a process for continuous improvement.
How can I find that email marketing campaign is successful?
To evaluate whether the email marketing campaign is successful or not, you will have to evaluate certain metrics. Avoid sticking to one metric as that cannot indicate the success of a campaign.
Why is personalisation in email marketing important?
Emails are the connection where you can feel the most personalised experience. Sending messages to the customers pushes them to stay loyal to your brand.The customers pay attention to those who are willing to connect with them for longer hours.
What is the most important way to send email in an email campaign?
Create a pre-check list and proofread the content of the email before you send the hit button.
We would love to have your opinion.