You’d be surprised how often people look at me and say, “Really? Email marketing for lead gen?” I always find this curious, because I’ve relied on email marketing for years, with great success. It may seem old school (at least compared to social or SEM), but it’s actually an exciting tactic, offering great ROI and opportunity for customer engagement. If you don’t believe me, here’s what some top-tier industry experts have to say:
• According to the Direct Marketers Association, email marketing has an average return on investment of $43.52 for every dollar spent which is expected to reach $44.25 by the end of 2011.
• Forrester Research reports that investment in email marketing will grow from $1.3 billion in 2010 to $2 billion by 2014.
• A survey conducted in December 2009 by ExactTarget indicates that more than 50% of consumers make purchases as a direct outcome of email. It also drives more ROI than any other channel including social media and PPC advertising.
• In its 6th Annual Consumer Email Study, DoubleClick revealed that as many as 90% of consumers go online to send and receive emails every day. At present, the average US consumer receives 361 emails every week which is a 20% increase since 2004.
• At an average, each US Internet users engages with 11.8 brands via email, compared to 9.4 brands through Facebook and only 7.9 brands through Twitter. – ExactTarget “Subscribers, Fans, and Followers: The Social Profile” (2010)
• As many as 42% of consumers said that they preferred receiving promotional emails from companies. Econsultancy “How We Shop in 2010: Habits and Motivations of Consumers” (2010)
• In 2010, a leading marketing research firm, Merkle reported that consumers who received direct mail as well as email on average contributed $17 in revenue and $4 in margin per household.
• Smith-Harmon in a study titled “Retail Email Unsubscribe Benchmark Study” reports that Friday is the most popular day of the week to send out promotional emails. About 42% of the US Online Retailers send at least one promotional email on every Friday.
• At least 64% of US and UK internet users want marketers to demonstrate knowledge of the types of products or services they like in email marketing messages. Most of the consumers were concerned with receiving irrelevant or poor quality emails. -e-Dialog “Manifesto for E-mail Marketers: Consumer Demand Relevance” (2010)
• Disregarding popular belief that email marketers were offended by the strong presence of social network channels, MarketingSherpa in a study called “Email Marketing Benchmark Survey” reported that as many as 80% of marketers believed that social sharing extended the reach of email content to new markets and 78% believed it improved brand reputation and awareness.
As you can see, email is still a vibrant tool, offering lots of opportunities for the strategic marketer. Its proven success has earned it a treasured place in my marketing strategy, and it could work for you too. If you include email as an integral ingredient in your marketing mix, please leave a comment. Let us know how it’s worked for you.