Once upon a time, letters were considered the most personal mode of marketing. Now, in 2022, with the glory days of letters being over, e-mail marketing has replaced the traditional media. Although the objective of different e-mail marketing varies with requirements, in the end, the practice remains almost the same. Let’s look at the future of e-mail marketing and discuss if it still is relevant in 2022 or not.
What Is E-Mail Marketing
Gathering e-mail addresses, developing content (either personalized or general), and strategically sending it to a group of individuals or businesses is referred to as e-mail marketing.
Though a dip has occurred during and after the pandemic, with 4 billion daily e-mail users and 78% of marketers noticing a 760% increase in revenue in 2022, e-mail marketing is far from being deemed irrelevant.
However, knowing what drives the success of e-mail marketing so much is how you can analyze and determine if it’s still relevant in 2022 for your business.
Average Conversion Rate
From 2016 to 2019, the email conversion rates (CR) among businesses were in the range of 17 to 19 percent, which dipped during the pandemic to a range of 15 to 16 percent. The dip, although stable, has not yet gone up in 2022.
Your landing page, domain name, email address, subject line, email body, and many other factors determine the conversion rate, which is the percentage of ‘subscribers’ who take positive action after receiving your email.
Although 16% is great from a business standpoint, the reduction in CR can be blamed on the reduced marketing budget and heightened privacy policies; for the total revenue generated through e-mail marketing is estimated to reach almost 18 billion USD by 2027 in contrast to a mere 7.5 billion in 2020.
A major factor determining the conversion rate is the trustability of your IP. If your IP address is flagged by the email providers, your mails won’t be going through and you are doomed to lose money. Residential IP addresses offered by your proxy provider can mitigate the issue by helping you reach your leads with credibility.
It’s a corollary from the above discussion that e-mail marketing still is relevant in 2022, and is expected to grow more through the next decade. But it all comes down to how you approach your audience and how interested they are in your product or proposition.
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Latest Privacy Policies
Apple and iOS have never been more popular than it is today. But that comes with a price for digital marketers. With their latest no-track policies, Facebook and other social media ads are proving to be irrelevant.
As most users access the internet through mobile devices in 2022, with updated privacy laws and integrated privacy policies, the trackers are being crippled and the platforms are finding it hard to build data sets around each individual. Thus, more than 80% of marketers in 2022 are ready to give up social media ads to favor e-mail marketing.
With paid social media ads being on the verge of a breakdown, email and content marketing are becoming more and more relevant each day. If you aren’t sourcing your email list through third parties, your email list should consist of interested individuals who have visited your website. They would be glad to take action if your email campaign is compelling enough and doesn’t spam.
E-mail Cart Abandonment
6 types of emails engage the visitors. The most prominent one that’s responsible for almost 24.5% of email conversion rates is cart abandonment emails. When a user leaves products in the cart without making a purchase, it shows their buying intent. They just need a little push from you to complete it. Cart abandonment emails do exactly that.
Assuming you get 1000 visitors in a day as paid ads and organic traffic, most of which are genuine customers and are indeed planning to make a purchase. However, if your conversion rate is 10%, you’re left with only 100 customers each day; losing money.
With cart abandonment emails you can increase the number without spending more on paid ads or putting efforts into organic traffic, virtually for free.
E-Mail Is a Personal Medium
More often than not, emails are considered more personal than social media posts or ads. A social media post is made for the masses, and no personalization is possible as of today. And your customers are well aware of that. Thus, leaving phrases like “just for you”, “personalized content”, and other action keywords are futile for social media.
However with emails, even if it’s the same for all your recipients, the keywords work wonders. The feel of a personal medium, associated with e-mail marketing, makes the receiver want to click it more.
Moreover, with social media marketing, your followers need to scroll down to reach your content. The complex algorithms playing behind the social media channels prioritize friends and families more than they do the brands. Thus, e-mail marketing is still a viable alternative in 2022.
E-Mail Marketing Engages Interested Buyers
You own your e-mail marketing list. The e-mail marketing list, if substantial, can engage interested buyers more than any other form of digital marketing. When a prospect leaves their contact info, especially their email, they are turned into leads. These leads are your gateway.
By utilizing the email lists you can reach the potential buyers directly and influence them to buy your product or service. For B2B campaigns, the emails are typically hand-curated for each individual, but in the case of B2C campaigns, you can categorize the leads to send them the same emails.
With 72% of consumers preferring emails over phone calls, it’s arguably the best way to reach your potential buyers without making them feel spammed.
EMail Marketing Is a Revenue Generator
For every dollar spent on e-mail marketing, the average revenue generation expectation is a whopping $36. Which is higher, by a long margin, than any other form of marketing strategy. For reference, the return on investment (RoI) for SEO and banner ads are respectively $22.24 and $2.
Nurturing your leads, the practice of making your customer remember that you exist, are done great with social media outreach but is done better with emails. Although the revenue generation depends on factors like your newsletter, target audience, and especially your content, top performers (top 20%) generate an RoI of more than $70 per dollar.
The Bottom Line
When established, e-mail marketing still trumps any other marketing effort by a long margin. But to support your e-mail marketing campaign, you need to have an email list that is obtainable only through other forms of marketing like SEO and ads. With an extensive list, e-mail marketing is still relevant in 2022 due to a greater RoI, increased CR, and personal touch. If you still don’t have a list, get building.
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