If you are a marketer, you must be aware of the power of email marketing when it comes to nurturing leads. This is because most marketers leverage email marketing power to influence purchase decisions.
Once executed correctly, email marketing can potentially boost customer engagement as well as customer retention. Other similar tools, such as SEO on search engines and social media marketing have taken over the internet to rival email marketing. This has compelled many marketers to shift their attention to these channels. Some have even invested their resources and time into harnessing these tools to their advantage.
As a result, many marketers are pondering the fate and survival of email marketing. Thus the question, “Is email marketing dead?”. This is one of many questions that plague digital marketers and several brands. Let’s take you through the marketing strategy to help you answer this question.
Email Marketing Explained
For you to know how email marketing is fairing, you need to understand its concept.
Often amateur marketers mistake bulking mailing for email marketing. If you are one of them, rest assured that spamming people using promotional emails is far from what email marketing entails. With that being said, email marketing is simply a technique used by markets to send targeted and personalized emails to potential or existing customers.
Through email marketing, you can reach out to your customers. You can use the email marketing strategy to send out vital information about your new discounts and offers to attract potential customers to your business. Email marketing can also act as a channel through which you can send valuable content or insightful newsletters to your target audience.
An effective email marketing campaign goes beyond just the usual bulk emailing. As a matter of fact, it requires adequate planning, enough time, and a deep understanding of your recipients or subscribers.
Besides, it is wise to send your marketing emails at the optimal frequency and appropriate time of the day. If you do it properly, your email campaign strategy is likely to help you establish long-term relationships with your subscribers. You can use your email campaigns to strengthen your marketing skills, reinforce brand trust and increase brand reputation. So, is it right to say that email marketing is dead?
Is Email Marketing Losing its Influence?
Some marketers believe that email marketing is ineffective, while others still hold on to the belief that it is still a force to reckon. At a glance, the latest statistics on email marketing provide a clear insight into the progress of email marketing and its merit. So, these statistics help answer the question, “Is email marketing dead” by looking at the following 2022 trends on this subject:
General Outreach
The total number of those using email as a form of communication worldwide crossed 3.8 billion by 2018. This is according to Statistica. This number is higher than most social media users across the world. The figure is also projected to reach at least 4.4 billion email users by 2023.
The same statics show that the number of emails sent out and received was exceeding 280 billion emails daily in 2018. Statisticians suggest that this number is likely to increase to a staggering 347 billion by 2023.
From these figures, you can clearly see that email marketing has a huge potential of reaching a wider audience. Therefore, the data shows that marketing email is still effective and a better choice of communication for internet users worldwide.
Engagement
The increasing popularity of Facebook, Twitter, Google reviews and Instagram makes some people and brands believe that these are the only effective channels for engaging with their target audience. This notion is far from the truth because engagement rates tell a different story.
For instance, the average engagement rate per Facebook post was around 0.16% in 2018. For both Twitter and Instagram, the engagement rate stood at 0.046% and 1.73% respectively. This disparity arose due to the changes made on algorithms by these giant social media platforms.
Typically, the algorithms limit the organic reach of many posts in an attempt to attract a large number of brands towards paid social media ads. With emails, the engagement is higher, as indicated by GetResponse analysis of about 4 billion emails sent out in 2018.
The analysis indicated that emails sent out worldwide had an average open rate of about 22.8% and a Click Through Rate (CTR) of around 3.71%. These percentages show that email marketing campaigns have a greater chance of attracting the attention of your subscribers.
Return On Investment (ROI)
ROI is a significant factor when it comes to judging the success rate of any given marketing campaign. This is also the case with email marketing campaigns given that it requires a proper investment of your capital and human labor. In this regard, you may bring some people on board to provide and publish high-quality content that creates attractive newsletters.
Such investment makes email marketing effective by increasing revenues and driving conversions. For that reason, email marketing Return On Investment is an essential tool that determines the effectiveness of your email marketing strategy.
B2B Opportunities
Email marketing provides immense scope that benefits B2B marketers. This means you can reach out to individual consumers through influencer marketing or social media platforms. But fostering B2B relationships with the help of such techniques proves to be difficult.
Regardless, email marketing is considered an ideal marketing channel goldmine of Business-to-Business opportunities. This is attributed to the fact that senior-level decision-makers in any business would choose to learn more about a new company and its offers via email.
In this sense, email marketing comes out as an incredible and trustworthy form of communication. This is true thanks to the Content Marketing Institute which states that around 93% of most B2B marketers rely on email to distribute their content. So, this shows that email marketing is a tool of choice for B2B marketers.
Is Email Marketing Still Effective in 2023?
Email marketing continues to be a powerful and profitable tool for organizations of all kinds, with Statista estimating that email marketing revenue will reach about $11 billion worldwide by 2023.
What Is the Future of Email Marketing?
As demand grows, there will be more email service providers. Reports say that in the next two years, the number of email accounts will continue to grow at a slightly faster rate than the number of email users (3% per year, or 4.4 billion users worldwide by the end of 2024).
Why Email Marketing Is Not Dead?
Email marketing is more likely to lead to sales than social media marketing, and it’s a fast, personal, and direct way to reach your customers. When you market to people through email, they spend 138% more. So, is marketing via email dead? In no way.
What Is the Biggest Challenge in Email Marketing?
Top 5 Problems with Email Marketing that Every Marketer Has to Face and How You Can Solve Them
- Boosting Engagement Rates.
- Improving Customer Retention.
- Personalizing emails better.
- Integrating Your Data.
- Enhancing Email Deliverability.
What Should You Avoid in Email Marketing?
Email Marketing Mistakes You’re Making and How to Avoid Them
- Poorly Writing Subject Lines.
- Not letting the readers reply.
- Coming across as shady.
- Using graphics and stock photos too much.
- Getting out of touch.
- Mobile Users are being ignored.
- Ignoring a call to action.
Verdict
As a marketer, you need email marketing to focus solely on renewing your strategies and improving your marketing performance. This is because the increased use of emails and the latest studies indicate that email marketing is not yet dead, and is not dying out any time soon. Additionally, email marketing channels boast an immense reach out to more than those witnessed across the current social media platforms.
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