For
many years now, naysayers have been predicting the demise of email as
a marketing tool. But they were wrong when they started suggesting
this ten years ago, and they are wrong in 2020. Indeed, email can be
as effective a marketing tool in 2020 as it was in 2000 – and it
can be even more effective when the opportunity is taken to
personalise email marketing. Ponder these statistics–for
all industries in Australia:
-
Average
open rate: 18.7%
-
Average
click-through rate: 2.8%
-
Average
click-to-open rate: 14.9%
-
Average
unsubscribe rate: 0.2%
-
Average
bounce rate: 1%
With
these kinds of results, why would email not be considered a useful
marketing tool? If you need more proof of the effectiveness of email
marketing, consider the following:
-
For
every dollar spent on email marketing – the return is estimated at
$38.00
And
the following:
-
Successful
campaigns generate $42 for every dollar invested
-
Average
campaigns generate $37 for every dollar invested
But,
as these last two statistics suggest, there is a world of difference
between an average email campaign and a great email campaign. To
maximise the return on investment – it is worth pondering the
characteristics of a great email campaign. So, what are the features
of a great email campaign? Well, many factors impact on the
effectiveness of an email campaign. They include:
-
The
database – the accuracy of the list, the completeness of the list
and the cleanliness of the list. Questions – are you targeting the
right people, and is their data accurate?
-
Personalisation
– the extent to which the email is customised to the individuals
receiving it. Questions – is the email addressed by name and is
the content customised?
-
Interactivity
– the incorporation of engaging, interactive components in the
content. Question – does the email talk AT readers or engage them
interactively?
-
Distribution
rate – ensuring that emails are sent out at a rate that suits the
resources available to address enquiries. Question – can you
comfortably manage all enquiries?
-
A
landing page – a link on the email to a high-quality customised
landing page to drive the enquiry rate. Question – are recipients
being taken to a customised landing page?
-
The
subject line – highlighting a point or issue that will facilitate
opening without selling. Question – does the subject line engage
readers without selling or using hype?
-
The
language – using language that is tailored to the audience –
without jargon, hyperbole and platitudes. Question – is the
language in the email – the language of the recipient
-
The
times of day – the time of day can have a significant impact on
opening rates. Question – are readers receiving the email at a
time of day that will encourage opening
-
The
day of the week – the day of the week can affect opening and click
through rates. Question – is the email being received on a day
that maximises opening rates
On
this last point, consider these statistics for Australia:
-
Best
day for highest email open rates: Saturday 19.6%
-
Best
days for highest click-through rates: Monday, Wednesday, Thursday,
and Saturday 2.9%
-
Best
days for highest click-to-open rates: Monday, Wednesday, and
Thursday 15%
-
Best
day for lowest bounce rates: Tuesday 0.8%
-
Best
day for lowest unsubscribe rates: all days were 0.2%
-
Worst
day for lowest email open rates: Sunday 18.3%
-
Worst
day for lowest click-through rates: Sunday 2.7%
-
Worst
days for lowest click-to-open rates: Sunday, Friday, Saturday 14.8%
-
Worst
day for highest bounce rates: Saturday 1.2%
-
Worst
day for highest unsubscribe rates: all days were 0.2%
These
points and statistics highlight two things:
-
Email
marketing remains a powerful marketing tool
-
Email
marketing is now more science than art
The
volume of email people receive is not a real barrier to the
effectiveness of an email campaign. The real obstacle to the success
of an email
marketing
campaign is to keep on doing what you have always done – and
failing to embrace the science that email marketing requires in 2020.
To help address this science there is real value in:
-
Engaging
a consultant who understands it is a science more than an art
-
Using
one of the plethora of email automation platforms currently
available
On
the second point, consider the following statistics:
-
51%
of companies are using email automation to save time and money.
-
Automated
emails get click rates 119% higher than broadcast emails.
-
Sending
an automated welcome
email series can
increase revenue by 13%.
-
Automated
birthday email offers can boost conversion rates 60%
Among
the more popular email automation platforms on the market in 2020
are:
-
Mail
Chimp (a basic option)
-
OptinMonster
-
HubSpot
-
LeadSquared
There
is almost certainly value in seeking advice on the platform that best
suits your requirements.
In
summary, email marketing remains a powerful marketing tool. Ensuring
success in 2020 requires an understanding of increasingly
sophisticated science. Automation and professional advice can most
certainly help in maximising return on investment.
The
next blog in this series will look at two new avenues for
communicating in 2020.