Have you used email marketing lately? How good is your ROI from it?
Being a growth hacker who believes a lot in new age digital marketing, for me, resorting to email marketing was really a low point. However, after being suggested by a few influencers, I decided to give it a try after all.
See, in many ways, email is one of the first internet marketing tools. Back when I was still in school, before everyone could own their own website and before there was social media to help marketers reach a target audience, there was email. Though the usefulness of a particular piece of technology often fades with time, this hasn’t been the case with email marketing.
A recent study found that email remains an important force for marketing, even when reaching younger demographics.
On average, companies are attributing 23% of their total sales to the email marketing channel, compared to 18% in 2013. This equates to a proportionate rise of 28% in just one year.
Two years ago, nearly half of respondents attributed less than 10% of their total sales to email marketing. This year, that figure has dropped to 39%, a 19% drop in two years.
By comparison, nearly a quarter (24%) of respondents attribute 30% or more of their sales to email marketing, up from 18% two years ago.
For the last few years, it’s been widely assumed that email would fade away because Millennials and teens weren’t going to use it. It turns out that the opposite is true. Email continues to be part of everyday life across all age groups, with consumers literally hanging out in their inboxes all day long.
Email is an extraordinary channel for delivering ROI. The danger for buyers of marketing technology is that they increase spend on email assuming continued growth in return. The danger for vendors is that they attempt to capture a greater proportion of the budgets available without providing real return.
Here’s an email ROI calculator if you’re wondering what would be the result of your email campaign. Try it and let me know how good your score is!