Does Email Marketing Really Work?
In the age of virtual reality, artificial intelligence, and social media, email marketing can feel like ancient technology. Does email marketing still work? Should you even bother with it?
In this post we’ll demystify email marketing, and what strategies are and are not effective.
What is Email Marketing?
Email marketing is essentially the modern continuation of the original direct mail marketing campaigns. Reaching out directly to customers and potential clients. Email marketing can be used to:
- Generate leads
- Make sales
- Nurture leads
- Expand brand awareness
- Increase customer engagement
- Retain customers
- Create brand advocates
- Upsell products and services
However, email marketing isn’t limited to these subjects. Reaching out to customers in any way (other than email confirmation, direct communication, etc.) can be a form of email marketing.
These days, you may think of email marketing as antiquated or obsolete. However, the numbers say otherwise. In fact, the reality is email marketing is a uniquely effective marketing strategy, with unmatched returns and far-reaching potential.
Email Marketing Statistics
Let’s crunch some numbers…
- It’s estimated that 3.9 billion people use their email every day.
- Around the world, people send 319 billion emails daily.
- The average return is $42 for every $1 spent on an email marketing campaign. (4200% ROI)
- Over ⅓ of abandoned carts, emails lead to eventual purchase.
- 80% of retail professionals indicate that email marketing is their most effective form of customer retention.
- 72% of customers prefer email as their primary form of communication.
- 21% of emails are opened within an hour of being sent.
With these kinds of numbers, it’s hard to argue the effectiveness of email marketing. So why the stigma? In an age dominated by social media, email marketing can seem useless. Although, when an email marketing campaign doesn’t work, it’s more often due to a failure to execute, rather than the fault of email marketing itself.