Still wondering about the effectiveness and ROI of email marketing? Well, it is time to become a believer or your organization might be missing out on one of its biggest opportunities of 2016.
According to Radicati Group, this year the number of worldwide email users is estimated to reach 2.672 billion and by the end of 2019, over one-third of the worldwide population will be using email. The average person receives approx. 126 emails per day and the entire human race gets over 205 billion. These are big numbers, they are growing and they mean big business.
Email marketing efficiency and lead generation may seem like a tough subject to argue considering that we are flooded by emails, but the following findings from the Direct Marketing Association’s 2015 National Client Report will blow you away.
Results, results, results
1. Email marketing has an average ROI of 5500%, $55 for each $1.52 spent. A big increase over the $36 reported in 2013.
2. One in five companies report an ROI of over 70:1.
3. 56% of companies currently use an email marketing provider and are 75% or more likely to be purchasers of marketing automation software over the next year, according the VentureBeat.
4. When it comes to purchases made as a result of receiving a marketing message, email has the highest conversion rate (66%), when compared to social, direct mail and more;
5. 77% of ROI comes from segmented, targeted, and triggered campaigns.
Success is spelled with newsletter open rates
1. According to Experian, transactional emails have 8x more opens and clicks than any other type of email, and can generate 6x more revenue.
2. Regular newsletters are classed as the most effective way of delivering email content to achieve campaign objectives, yet with a particular focus on segmenting the target audience based on purchase habits.
3. Segmented and targeted emails generate 58% of all revenue.
4. Triggered and behavioural driven email marketing drive more revenue than in previous years, with a reduction in blanket email marketing.
5. According to Campaign Monitor, marketers have noted a 760% increase in revenue from segmented campaigns.
Email marketing practices are evolving
1. Delivery, conversion, open and click-through rates have all increased, unsubscribe rates remain unchanged.
2. 9 out of 10 clients perceive email marketing as a channel of importance to great strategic importance for achieving business goals. 90% of UK business use email marketing.
3. Internal resources and budget limitations are less often a constraint for campaign success.
4. 78% of marketers rate their company’s competence in email marketing as either intermediate or advanced, up from 70% last year.
5. The overall expertise seems to be on the increase as only 12% of respondents rate their company’s competence as basic compared with 22% last year.
In email marketing, big data sorting and direct targeting of potential customers is key. Evowise’s digital publishing development experts are here to help you put all of these pieces in order so that can enjoy the ROI-enhancing benefits of a well-structured mass email blast to a large list of potential clients.