The B2B landscape is divided between believers and non-believers of email marketing. On one end, you have several marketing experts who laud this channel. At the same time, others question its relevance in today’s age of social and professional networking.
In such a scenario, how do you decide the prowess of a tried and tested communication medium of email marketing? By looking at statistics, of course.
What you hear from marketers are educated opinions. Sure, this is an important parameter in gauging the potency of email marketing, but it’s not enough. Only when you listen to qualitative opinions and refer to data about email marketing can you decide whether to include this medium in your marketing campaign.
So, let’s begin!
What is Email Marketing?
One of the oldest digital marketing methods, email marketing, is leveraging emails to communicate with potential and existing customers. Companies don’t share emails to only promote their product and services or advertise updates or subscription models.
They also use email marketing to share newsletters, deals and discounts, and much more. Depending on your end goal, which can be to market, educate, or simply touch base with your client, you can use email marketing.
How useful is it in generating revenue, nurturing leads, boosting retention, and conversion? Check the data in our next section to find answers to all such burning questions.
Top 10 Email Marketing Statistics
Here are the ten email marketing statistics you must refer to before devising your next marketing strategy.
- The return on investment (ROI) on email marketing is strong. A 2022 study by Omnisend reveals that companies expect to earn US$ 40 for every dollar spent on email marketing. This is more than the ROI from SEO and keyword search, which stands at US$ 22.24 and US$ 17.
- Users exchanged billions of emails each day in 2022. How many precisely? A whopping 333.2 billion. This number is expected to rise to above 375 billion by 2025. Safe to say, this figure reassures the relevance of email as a marketing medium.
- A 2018 Emarsys study pins email marketing as the top channel for customer acquisition as well as retention by small and medium businesses (SMBs). 81% of SMBs use email marketing for acquiring new customers, whereas 80% of them use emails for customer retention.
- Since emails provide a tremendous scope of personalization, they are popular for reaching out to new customers. A recent study by Marketing Dive shows that emails with personalized subject lines post 50% higher open rates as compared to non-personalized emails.
- Statista shows that the collective revenue generated by email marketing is projected to reach a staggering US$ 11 billion by the end of 2023.
- The relevance of email marketing is easy to witness by the fact that this channel is used by almost half the world’s population. Statista reveals there are 4 billion active email users globally. What’s more, this number is set to rise to 4.6 billion users by the year 2025.
- A 2021 study by Litmus concludes that instead of moving away from email marketing, companies continue to embrace this channel. 37% of brands are, in fact, increasing their email marketing budget, while only 1.5% of companies are reducing it.
- Another 2022 study by Databox reveals that 33% of marketers communicate with their clients via email every week. In comparison, 26% of them send emails to their customers at least once every month.
- A 2021 survey by Not Another State of Marketing states that a whopping 77% of marketers studied have witnessed a rise in engagement over email in the last 12 months.
- A 2021 HubSpot Blog Research showed that 64% of companies studied met their business goals via their email marketing strategy.
Two Cents
Still think email marketing is overrated? Our opinion (based on these email marketing statistics) is that it’s most certainly not.
Sure, email marketing is not a magic wand you wave to acquire customers overnight. You must carefully brainstorm and devise an email marketing strategy by following certain best practices like:
- Create or buy a clean, segmented, enriched, and appended email list.
- Personalize your email content each time. Doing this offers value to your potential customers each time you send an email.
- Don’t forget to include Calls-to-Action or CTAs.
- Share user-generated content over emails. These may include testimonials or reviews in your emails to new customers.
- Write personalized and engaging subject lines.
- Run re-engagement campaigns to engage with dormant subscribers.
Use these practices as a starter toolkit for your next email marketing campaign. You can also throw in the mix a few curveballs that your competitors don’t anticipate.
