Is email marketing still effective in 2020?
The simple answer is Yes. Email marketing may be an old way of marketing, but still very effective way in terms of engagement and ROI.
In the 21st century, with so many digital marketing channels like social media easily lures marketers as the most advance marketing channels and is rightly so. You have got a chance to target very specifically, you have the help of very sophisticated AI technologies and more importantly, people spend a lot of time on their social media. You have options such as lookalike audience, retargeting etc., which helps to reach out new audience like never before. However, the attention and engagement email grabs from a user are far more than any other channel.
As the world moves more towards online purchasing, users are developing a sense for detecting a sales pitch. You see, when using social media the user is relaxed and doesn’t pay much attention as they are just looking for entertainment or some news. When you push an ad, the user can easily know it’s a sales pitch or a trial offer and unless you have pushed a great relevant offer, they simply ignore it.
Email is more formal and personal. Of Course, the user knows, there could be sales pitches in emails too, but the user is already familiar with the sender. So, the chances of opening an email are more. The chances of users being open to interacting with the email are high. Your message is in the user’s mailbox, so they can open whenever they want and multiple times too.
Marketers can easily improve open rates even more, with catchy subject lines. However, the click-through rate and email engagement are completely based on the content and how relevant it is to the user.
So, it is easy to sell in email than in other channels ?
We can’t say the sale is much easier or likely to happen through email. it’s not. In fact, social media is far better in closing sales quickly, brand discovery and content sharing. But the primary purpose of email marketing is something different. Building relationships.
For sales that involve low risk (like buying a bracelet), social media generates great instant results. You make an ad for users who already visited your online store, with a promo and a buy now button, you get some sales. But for a risker sale that involves emotion and execution (like a SaaS product, or a supplier) the buyer takes time. They buyer prefer to buy it from someone they know, or they have some relationship and trust.
Now, for this, any business would want to be in constant touch with their existing and potential customers, by sending the email newsletters, content related to the brand, product-related details and whatnot. Email marketing provides an opportunity for everything.
Most of the marketers use a marketing funnel, to track the buyer’s journey. When a user is still new to your brand, you want them to know more about your brand and your products. When a user is interested in your brand, you want to send an exclusive offer or a promo. For customers, you want to build a loyalty program, so that they stick to your brand.
Whatever and whenever you want to communicate with consumers, email provides an opportunity for freeeeeeeee (although for emails you already have). The return on investment is great for this channel.
Now tell me, which other channel offers such flexibility of sending a message whenever you want and more chances to be read?
Well with the more chance and flexibility, there comes some conditions with it. How well you utilize it.
See, just because you have got a chance to communicate whenever you want, you shouldn’t be sending emails too often. When you send emails too often, there is a great chance the user unsubscribes. The below image shows the top reasons that annoy users.
A great email is something relevant to the user, well built, with no compatibility issues, having call to action buttons and offers good experience in mobile devices (mobile opens account for 46% of email opens).
With the above stats, you now got some idea of what not to do on email marketing. Now, you are thinking about building relationships with your customers and concentrating solely on this? Not the right thing!