Why won’t email die? Think about it for a moment. Email
pre-dates the web. As long as there has been an Internet, there has been email
and for the most part it hasn’t changed. Sure, companies like Hubspot and
Mailchimp added features so that we can track opt-ins, opens, click through and
delivery rates, but as advanced as these features are, the core of email has
barely moved in the past 25 years.
And yet, email newsletter marketing is poised to see continued growth for the foreseeable future – despite all the hype that it’s dead or dying. Here are some proof points and ways you can (and should leverage) email in 2020 and beyond.
1. Unbeatable ROI –
As Much As 4,400%
According to OptinMonster, “email marketing remains the best
way to attract and retain customers” and has a potential return
on investment of up to 4400%. That’s because once you’ve gone to the
expense of building an email list of engaged customers who see your content as
valuable (instead of SPAM), the cost to send email approaches next to nothing
and the people who opted in are genuinely interested in what you’re offering.
2. Consumers Prefer
Email When Talking to Brands
According to Campaign Monitor, “More than half (52.7%) of
those surveyed in the U.S. check
their personal email account more than 10 times a day, and it is by far
their favorite way to receive communication from brands.” Think about that for
a moment. Consumers are telling you they prefer email over direct mail, mobile
apps, and social media; things that cost substantially more than email to
build, grow and maintain. This study showed that email is even preferred to push
notifications and notifications inside their mobile wallet. And, it didn’t
mater what industry. Email won out in multiple industry sectors including
retail (online and brick & mortar), travel, entertainment, nonprofit, and
digital media.
3. Email Often Has
Higher Engagement Rates
“For the “Big 3” of social media (Facebook, Instagram, and Twitter), the engagement rate isn’t even 0.6%. Compare that to email’s average open rate of 22.86% and even its click-through rate of 3.71%”, according to OptinMonster. With the hyper targeting capabilities of Facebook, you’d think that social media would give email marketing a run for it’s money. And it did back in the early 2010 timeframe when companies enjoyed organic reach. But then, Facebook decided it needed to make its shareholder happy and so as it went public, it also squashed organic reach and so now even organic posts require pop up ads for elearning companies to reach the very audience who is following your brand.
4. You Own Your Data
& Direct Access to Your Customers
Perhaps the most powerful and compelling reason email will
continue to dominate is the ownership aspect. As GDPR
and other consumer privacy legislation is passed and goes into effect (see California
Consumer Privacy Act), data compliance is being regulated. That means, the
value of data will continue to rise and the cost to advertise will likely
continue it’s upward rise. It’s likely that in the future, the more you spend
on 3rd party advertising platforms, the more it will continue to
cost you if you’re not building and managing your own customer relationship
database. As the value of third party data continues to rise, direct access to
your own customers will be critical for your long-term success. And how do
customers want to be contacted? Email, of course (see point #2 above).
5. Personalization
& Relevancy Continue to Grow
When you combine the top points, you’ll find the importance
of personalization in email marketing continues to dominate. “76% of consumers
agree that retail brands are sending relevant, accurate emails which reflect
their shopping preferences, location or purchase history,” according to Campaign
Monitor. The same study acknowledges that “more than half of those surveyed
in the U.S. check their personal email account more than 10 times a day.”
When you’re building out your 2020 plans, be sure that email
marketing is getting more than it’s fair share. As much as 58%
check email first before doing anything else online. It might just be time
to take another look at the investments you’ve made (and should be making) in
building and growing your customer relationships via email marketing. Not only
is email here to stay, it’s likely to continue to grow for the foreseeable
future.
Bill Carmody is an
Executive Coach and Corporate Trainer. Connect with him on LinkedIn, Twitter or BillCarmody.com
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