Email marketing is a marketing technique in which commercial communications are sent and sales are generated through the use of email as a tool. Using email marketing as the foundation of your eCommerce marketing strategy is essential. It can be something as simple as sending cart abandonment emails, or it can be something as complex as having numerous email nurturing campaigns designed to build long-term relationships and generate more long-term sales.
What is the significance of email marketing?
Email marketing is one of the most established online marketing strategies, and it continues to hold the top position in the marketing mix of the majority of enterprises. Despite the fact that individuals are constantly assaulted with advertising offers and commercial campaigns everywhere they turn, the inbox remains one final haven of quiet and isolation on the internet. If you can get your message into their inbox, you will have established a strong relationship that will almost surely result in future sales. Here are some of the reasons why most marketers still believe that email marketing is the most effective tool in their toolbox:
Email generates the highest return on investment
According to VentureBeat, email is the most effective advertising channel, generating a return on investment of $38 for every dollar invested. According to the McKinsey analysis, email is still 40 times more successful at recruiting new consumers than social media sites such as Facebook and Twitter. Furthermore, according to the Direct Marketing Association, when done correctly, email marketing segmentation can enhance sales income by 760 percent.
Email has a tremendous amount of reach
According to Radicati, the total number of active email accounts will reach more than 2.9 billion by the end of next year. This represents a higher number of active users than both Facebook (1.8 billion) and Twitter (315 million) combined. Everyone who is active on the internet is required to have an email account, which serves practically as a virtual currency on the internet. As a result, when it comes to reaching out to potential clients online, email is the most effective tool available to online business owners.
Email conversion rates are really high
With all display ad formats and placements combined, the overall click-through rate (CTR) is 0.17 percent, or less than 2 clicks per 1000 impressions. The average click-through rate on Facebook is 0.119 percent, while the average click-through rate on Twitter ranges from 1 to 3 percent. Email, on the other hand, has an average click-through rate of 3.42 percent across all industries and devices. When compared to other online advertising channels, the costs of running email marketing campaigns are significantly lower, which explains why it consistently ranks as the most cost-effective lead generation tool available.
Mobile-friendly email marketing is becoming increasingly popular
68 percent of companies, according to Salesforce, have already incorporated mobile marketing into their marketing mix as a result of the increasing importance of mobile marketing. As a result of the staggering 79 percent of people who use smartphones to check their email (a higher percentage than those who use smartphones to make phone calls), it is not surprising that email opens on mobile have increased by 180 percent in the past three years and that average smartphone conversion rates have increased by 64 percent in the same time period. Creating campaigns that are mobile-friendly is the bare minimum. Another approach that would be even better would be to optimize every aspect of your email campaigns in order to drive more traffic and sales.