As technology continuously enhances and social media marketing remains a powerful tool, you may find yourself asking: is email marketing still relevant? To give you a hint…
The question of “is email marketing dead?” seems to have been a popular topic over the years.
In a recent webinar I attended, the importance of email marketing was discussed, as was the reassurance of how relevant it still is. We’ve also had PK partners contact us to inquire about recommendations for an email marketing platform - which we’re happy to help with. So, we wanted to share some research and recommendations on the topic.
Benefits of Email Marketing
1 - Reach
First and foremost is the huge impact it can have on your reach and communication. Believe it or not, email marketing is still a top performer when it comes to organic content. According to statistics by Kinsta, for content distribution channels, email marketing is one of the top three channels, coming in as a very close second to social media platforms.
2 - Revenue
As mentioned earlier, the ROI for email marketing basically says it all - $44 for every $1 invested. It’s easy to maintain and (typically) inexpensive. Reported by Statista, email marketing revenue is estimated to reach almost $11 billion by the end of 2023.
According to Hubspot, marketers have found a 760% email revenue increase from segmentation. What is segmentation? It’s the process of separating customers into groups based on common factors or interests. This also plays a part in another benefit of email marketing which is personalized, targeted marketing.
3 - Growth
According to Hubspot, 74% of Baby Boomers think email is the most personal channel to receive communications from brands, followed by 72% of Gen X, 64% of Millennials, and 60% of Gen Z. That's the majority for all generations. In alignment with the personalized, targeted marketing mentioned earlier, email allows you to build relationships, credibility, and brand loyalty.
PK Picks
MailChimp - also our platform of choice here at the PK office. If this is a platform you would be interested in, contact us about our referral opportunity!
Price: Free plan for 2,500 monthly email sends, 500 maximum contacts, and 1 user. Paid plans start at $11/month.
Key Features:
Get personal by targeting customers through segmentation
Content Optimizer to analyze top performing campaigns and receive personalized suggestions to improve future emails
Create marketing automation workflows with the Customer Journey Builder
Sync with a range of integrations
Price: Starts at $29/month. There is also a customization plan available.
Key Features:
Offers a variety of email types (triggered, targeted, transactional, etc)
Email automation for emails such as “new deal alerts” or “welcome emails”
Subject line generator
Use outreach emails when you can’t seem to find the attention-grabbing words
Email drip series to welcome new contacts with a series of 3 emails
Price: Get started for free using the email marketing tools. Marketing Hub plans start as low as $45/month.
Key Features:
Create campaigns using a goal-based email template
Personalize your emails based on the subscriber’s lifecycle stage, list membership, etc.
Use A/B testing and analytics to enhance email campaigns
Email marketing software that’s powered by CRM data
While this article only covers a handful of the email marketing benefits and a few of our favorite platforms, it’s important to do research to see which is the best fit for your business. Need some help or guidance getting started? Contact us and we’ll be happy to discuss your goals to determine the best option for you.