With the advent of online marketing, advertisers developed entirely new approaches to reach customers online. Given that the way people interact and consume content online continues to evolve, so do the marketing techniques used to reach them.
Nowadays, there are more channels than ever for getting your business in front of potential customers. Approaches like social media marketing, video campaigns, and SEO to increase site traffic have become top of the agenda for many companies looking to develop their online presence.
And by the looks of it, the tried and tested strategy of email marketing still has so much to offer in 2021 and beyond.
Before social media and Google Ads, email marketing was the OG channel to reach audiences online. And email marketing remains vital for businesses developing digital marketing campaigns today.
Email Marketing’s Performance
Marketing is a complicated industry filled with different metrics and statistics to assess how well campaigns perform.
But at the end of the day, your company needs to know its marketing return on investment (ROI). How much money did we spend on this marketing campaign vs how much did we make from it?
And when it comes to ROI, email marketing continues to outperform other forms of online marketing. For example, litmus.com notes that ROI from marketing is estimated to be at $36 for every $1; significantly higher than other channels.
This trend is only going to continue. In the past year, engagement metrics for marketing emails in Australia are up, with both open rates and click rates on the rise. Plus, email marketing works better in Australia than in any other region.
With higher average open rates, 20.6% compared to 18% globally, and click-through rates, 3.1% compared to 2.6% globally. If these seem like minor differences, consider how many marketing emails get sent. Even a 0.5% difference results in significantly more click-throughs.
It is safe to say email marketing remains an extremely valuable marketing strategy, and it’s not going anywhere. In fact, the global email marketing industry was estimated to have peaked at 7.5 billion USD in 2020. Furthermore, with a growing global population getting online, it is projected to more than double by 2027 (17.9 billion USD).
Whatever services or products your business offers, there is a place in your marketing strategy for effective emails. They’re a direct method for connecting with customers and generating new leads.
Email Marketing vs Social Media
Email marketing came about in the first wave of digital marketing, back in the early days of the internet. It feels like it has been around forever, and many have predicted it will become obsolete, especially with the rise of social media.
It can sometimes feel like these two marketing channels are in opposition, competing to get a slice of the budget. But in reality, they are complementary strategies that work together to reach the same goal: generating new leads.
They use different mediums to reach potential customers and often target entirely different audiences. It doesn’t have to be one or the other, and social media has been around long enough that if it were going to replace email marketing completely, it would have done it already.
With social media spreading into virtually every facet of modern life, many see it as the more attractive option in 2021. However, email marketing has many benefits when compared to advertising on social media:
Benefits of Email Marketing
We’ve compared email marketing to social media, but there are lots more general benefits as well.
Simple to get started
Email marketing is easy to get started in. You don’t need help from a team of workers or significant technical knowledge. Just some good advertising copy and a list of potential customers to reach out to.
If you decide to take your emails to the next level using stylish design, colours, and logos, there are dedicated services out there that offer low monthly rates.
With emails travelling as fast as the bandwidth allows, you can start seeing results almost immediately. Run email campaigns to set up a time-sensitive offer and see if you can drive some quick sales.
Reach people at the right time
Schedule emails to send at the time your audience is most likely to check their inbox. Statistics show in Australia and New Zealand, most emails are opened between 10 am, and 11 am.
Email marketing allows you to send personalised content. Whether you choose to segment your mailing list based on factors such as:
- Engagement Level
Or just personalise your emails by including the recipient’s name. Marketing with targeted emails allows you to match the right message to the right person.
Generate site traffic
Providing your potential customers with good content or offers means they are more likely to click through to your website. Email marketing is a simple way of generating traffic to your website and hopefully closing a sale. Make sure your emails contain a compelling call to action to get readers to click through.
Emails are easily shared. With a couple of simple clicks, the reader can forward a great deal they’ve seen to their friends and family. This organically produces additional sales and grows your mailing list.
The benefits listed plus other factors lead to improved sales for your company. Whether it is closing a large sale, thanks to helpful information in a marketing email, or an impulse buy when someone sees an email offer they can’t pass up. Email marketing boosts revenue.
Emails post-sale are a great way to discover how a customer’s experience with your company went. Asking for feedback through surveys or other forms allows you to find potential areas for improvement. It also keeps consumers interacting and engaging with your company, giving you a better chance to turn them into repeat customers.
Tracking the performance of your email marketing doesn’t require significant expertise. There are services out there that allow you to track every aspect of your email delivery in real-time. Measure:
- Conversion rates
- And more
With tools like Crazy Domains email marketing software, you can access data in real-time that makes a real difference. Use it to test different subject lines and delivery schedules to see what works best for your mailing list.
We’ve already mentioned it, but it would be strange to move on from email marketing when it is the marketing channel with the highest ROI out there. Getting on average 36 times what you invest means email marketing should remain an integral part of most businesses advertising strategy.
Email marketing will remain relevant in the years to come. And the best part is that every business can leverage this strategy to drive more engagement and conversions with their customer base.
If you’re in the market for an email marketing platform, check out Crazy Domains today. We offer an intuitive and affordable tool that helps small to medium business owners like you run successful email campaigns.