There is one tried and true digital marketing tool that often gets left in the dust of ‘the big guys’: Facebook, Instagram, Google, you get it. While these tools are collectively effective ways to reach your audience, the tool of discussion has withstood the test of time and continues to be one which has a consistently higher ROI. The mystery method? Email Marketing. Yes, we know, it is shocking to hear that the effectiveness of email extends beyond serving as a catchall for all of those newsletter subscriptions and the place where your boss or least favorite coworker resides to haunt you. You can nod in agreeance; we won’t tell anyone.
It is not unusual for email marketing to reside at the center of a marketing strategy and there’s an extensive lineup of reasons for that placement. Before we jump into the identification of those reasons, consider a few, undeniable statistics.
59% of consumers reported that marketing emails had a level of influence on their purchasing decisions.
50% of consumers make a purchase or dedicate to a service listed in an email at least once a month.
87% of B2B marketers utilize email as a distribution method. We know, what’s the real conversion on that statistic? We’ve seen some pretty ineffective email messages that lacked strategy and target audience appeal; but, hey, that’s why you would work with an expert to avoid such issues, right?!
The average ROI on email marketing efforts is $42 per every dollar spent on the channel. Compared to the higher ROI for pay-per-click advertising through Googl at $40.50 per dollar spent.
Not sold, yet? Allow us.
One, Large Reach
It’s true, Facebook has 2.8 billion users and how could you possibly top that? What if we told you that email marketing, as a distribution channel, boasts over four billion email account holders? Confused on how in the world that could be possible? Let us ask: when was the last time that you signed into anything without an email address? Email is considerably the foundation of how our accounts and online presence function, presenting a much larger reach than even the shining stars of the Internet itself. If your company’s social media accounts were to disappear tomorrow, how do you plan to reach your customers without even as much as their email addresses?
In terms of functionality and presentation to the user, email is one of the only remaining digital distribution methods not based on algorithmic targeting capabilities. In other words, if you want your message to reach an entire database without interruption of algorithms and the like, email marketing is the way to go. Your email may end up in the junk folder (if you are not working with a can spam compliant system), but if the consumer consented to receive communication from your business through that channel, the chances are slim. 90% of emails get delivered to the recipient’s inbox while only 2% of your business’ Facebook followers see your posts. Large reach and no algorithmic targeting? Bingo: widespread exposure to your consumer!
Two, You Can Really Deliver Your Message
In today’s day and age, it is not uncommon to receive unwanted ads in a social media feed. (Guys, unfortunately, it’s not the FBI: it’s marketers. At least we think so…? 🤔) In contrast, when a consumer provides your business with their email address, they either want to receive communication from your business or are making a purchase. The voluntarily supplying of their email address gives you and us, as marketers, the green light to reach an audience that wants to hear from you.
Additionally, there is a limit to the extent of the message and content that can be shared on social channels, as the attention span of the average scroller is increasingly lower. Not only that, but social platforms designed for “quick scrolling” aren’t necessarily the best place for extended marketing messaging and all of the visual content that you want to include. Email marketing provides a space for businesses to really get their message across, on a variety of topics and through a variety of visual elements! If you need to share a video, imagery, and a good bit of copy with an engaged audience, this is the tool.
Third, Email Marketing Drives Conversions
According to a survey conducted by Monetate, Over 4% of those reading your email will purchase from your business, compared to 2.5% from search engines or less than 1% from social media. There aren’t many channels more powerful or consistent than email marketing if implemented correctly and consistently and those who implement the tool have access to a variety of metrics that provide for measurable ROI. From click-through rates to forward and social shares, you can track the investment in real-time.
Speaking of ROI…
A common question in reference to email marketing surrounds the notion that the ROI presented by the tool is significantly and consistently higher than other message channels. Why is that? As mentioned above, email marketing allows for a relevant message to be sent to an already engaged, relevant audience. This method of marketing allows for hyper-targeting capabilities but unlike social media, is guaranteed to deliver to an audience that is expecting it and that wants to hear from your business. The more customers in your email database, the more reach your business can have through the channel.
Have questions about implementing email marketing as part of your marketing strategy? Contact us today to chat about what will work for you and your business.