Amidst a lot of advertising dollars moving to social media, some marketers are wondering if email marketing is relevant anymore. The fact remains that, email is still the cheapest medium for marketing messages and one of the best ways to reach the non-yuppie crowd. Forrester predicts that email spend will grow 50% in the next 2 years and will reach $2 billion in 2014. Read a few more email statistics here.
In fact, the hottest startups of in the past couple of years, including Quora and Groupon, are leveraging the full power of emails now.
The advantages of email marketing are:
- Email marketing is cheap. The cost of sending an email is less than $0.03 through premium programs such as Mailchimp. In many industries such as construction, the open rate is as high as 28%. That means, you get your message read by spending less than $0.10 per target reader. You can read more email open stats here.
- You can easily tap your existing customer base and use the email marketing to retain more of them and also sell more products to the existing customers.
- You have a greater room in designing your message. You can include pictures, attractive text and interactive media in your email messages. In contrast, your Facebook ads or Google ads have restrictions in both size and structure of the text.
- It has a huge reach. There are more than 2 billion email users in the world. That is more than Facebook, Twitter, Pinterest, LinkedIn and YouTube users combined.
- Unlike Facebook or Google Adwords, you are not limited by a walled garden controlled by the whims of a single company. Email infrastructure is quite open and thus it is suitable for a lot of marketers.
- Boomers and Gen-Y consumers use emails more than social media. Thus, if your product is targeting this user base, you need to be marketing through email.
- You can easily personalize the marketing content (including salutations etc.) based on the data you have collected.
- Since email marketing is old & mature, a lot of good content development and tracking tools are available.
- It is simple and intuitive to understand. Most traditional marketers can understand email marketing far more easily than social media marketing. This means it is easier for you to hire a person to spearhead your email campaign.