Email marketing used to be a powerful tool for marketers who wanted to get and nurture leads, influence purchase decisions, or engage and retain their consumers. Ever since social media marketing appeared on the scene and the General Data Protection Regulation (GDPR) act took effect, however, some people think that email marketing has become a lost cause.
Email marketing is not a lost cause. It’s not dead or dying anytime soon, it’s actually thriving! Email marketing is expected to continue growing over the next few years, while also outlasting other digital marketing channels. In fact, 59% of B2B marketers say email is their most effective channel in terms of revenue generation.
According to the Email Statistics Report (2018-2022) published by The Radicati Group, there were more than 3.8 billion email users in 2018. That’s more than half of the world population! On top of that, by the end of 2022, the number of global email users is expected to grow to over 4.2 billion. That's a huge market – bigger than any social media platform. Email volume also trends upwards. In 2018, more than 281 billion business and consumer emails were sent and received per day. And in the next three years, that figure is expected to exceed 333 billion! So, yes, people are still emailing each other.
Most importantly, the return on investment for email marketing is climbing up, too. In 2018, every dollar spent on email marketing yielded an average return of $32, Data and Marketing Association (DMA) reported. That’s 3200% ROI! This means that not only does email marketing pay off, but that payoff is increasing.
On Facebook and Twitter, you're bombarded with ads you don't want. With email, any ad you don't want probably heads straight for your spam box. You control your inbox and who can send messages to it, something social media tends to lack. Perhaps that’s the reason why the engagement rate for the “Big 3” of social media (Facebook, Instagram, and Twitter) is 0.53%, while emails have an average open rate of 22.86% with a CTR of 3.71%.
Social media can shut you down without notice. Enough outrage (real or manufactured) against you will see these platforms shrug and abandon you. If that happened, you'd have to start over. But with email, even if you're shut down (which is highly unlikely), you could take your list to another provider.
Sure, we probably receive too many emails these days, but it still remains one of the best ways to stay informed and stay in touch.
Clearly, email marketing is still alive and kicking. So, as an online marketer trying to stay relevant to your customers, make sure you have an email marketing strategy that’s designed and structured well.