‘‘Email marketing is dead”. This is likely a headline you’ll have read at some point. A headline that’s catchy. A headline that intrigues. It is, however, a headline that’s wrong.
Email marketing isn’t dead, it’s thriving. In a constantly evolving digital landscape, a robust email strategy can provide a stable pillar for any marketing campaign. With Pew Research Centre finding that 92% of online adults use email, and McKinsey claiming employees reportedly spend an average of 13 hours of their work week in their inbox, the myth that email marketing is a dead means to reach the customer is one that marketers would be wise to ignore.
The customer of today is constantly inundated with digital communications: posts on their newsfeeds, tweets, instant messages, texts and other notifications. You can catch your customers on desktop, their mobiles and even watches and fitness trackers. Yet, amidst this maelstrom of digital noise, email is still a stable and effective means of catching customers attention.
The prevalence of this myth is not because email itself is ineffective, but because often the wrong execution is applied. With the implementation of out of date techniques leaving customers feeling bombarded by the sheer quantity of emails they receive, it is easy to see why marketers have been left feeling that email is a platform that is no longer fit for purpose. The good news is that not only is email thriving, but the advancement of online analytics tools has made it easier than ever to test, analyse, and optimise the ideal strategy to achieve your business goals.
Targeting the consumer
In a market where relevancy is king and web analytics tools are used in nearly all realms of digital marketing, learning how to properly utilise data within your email marketing strategy can ensure that you stand out from the competition.
Used properly, the targeting of customers with such data can be very effective. Studies have shown that personalised emails achieve an increased open rate of 26%, with segmented user campaigns showing an increase of 760% in revenue. Turning what would otherwise be a blanket email into a personalised one increases the likelihood the customer will act. By tactically using explicit data, such as a first name or a stated area of relevance, a company can send emails appropriate to the individual, increasing the likelihood of conversion. Coupling this explicit data with strategically implemented implicit data, such as purchase history and cookies, can ensure emails are even more applicable to a customer’s interest.
Building your customer base... and sustaining it
A recent study by McKinsey found that when it came to customer acquisition, email was 40 times more effective than social networking sites like Facebook and Twitter. By advertising promotions and discounts directly to those who are interested in hearing about it, today’s email subscriber can be tomorrow’s repeat customer. A subscription already shows the customer has an interest in the content or product your brand produces. A solid email strategy builds upon this, aiding brand recognition by keeping your content at the forefront of the customer’s mind, and building on that relationship by enticing them with offers and information regarding the very reason they subscribed. Additionally, methods such as email ‘promotion codes’ can build upon this brand/customer relationship, creating chain reactions where the targeted customer refers the promotion to family and friends. In fact,
Once you understand how to implement a successful email marketing campaign, it can be a very profitable opportunity for not a large cost. A 2016 study by the Direct Marketing Association and Demand Metric found that the ROI from effective email marketing was on average over four times higher than that of the second highest communication means tested (social media). The ‘bang for your buck’ that you can achieve from a successful email marketing strategy shows that, when properly implemented, it can be a very effective tool within your overall marketing strategy.
Whether you’re new to marketing, or you just want to improve engagement with your target audience, with all the opportunities that email can deliver, now is the time to adopt the right strategic approach to building, planning, analysing, and optimising your email marketing.
To skill up and improve your understanding of these areas, check out our two brand new Email Marketing lessons. In Part 1, we cover the start of an email campaign, from building and developing your subscribers, to ensuring deliverability and avoiding spam. Part 2 develops upon this, providing information about planning your campaign activity, testing and optimising your email campaigns content and creative. Check out a clip from our lesson below, or to find out some more information go to our Courses page.