I got my first email address when I was around 12 years old. I used to love AOL’s encouraging “you’ve got mail” greeting, though my inbox was fairly vacant back then.
Flash forward to 2020 and, though I’ve been through 3 different personal email addresses (plus a ton for various places of employment and education), I am still an avid email user – just like 50% of the world’s population. That’s right, there are currently 3.9 billion email users in the world, making it a great way to promote your products and services!
Though marketing strategies have included many different tactics over the years (flyers, TV, cold calling, social media, video, Facebook ads, SEO optimized content, etc.), one thing is clear: email marketing remains one of the most important tools for businesses in 2020, and it’s likely to remain that way over the coming years.
Find out why below.
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As I mentioned above, 3.9 billion people use email, and that number is set to grow to 4.48 billion users in 2024.
So what does that look like in emails? In 2020, 306.4 billion emails were sent and received each day. The figure is expected to increase to over 361.6 billion emails a day in 2024.
You might say “that’s a hell of a lot of spam people are receiving”, and though the US has 2529 current live spam issues, the marketing emails received are continuing to engage people and lead to purchases of products and services across all industries. You only have to look at the ROI for email marketing, which continues to grow.
When you only have a limited marketing budget, you need to be sure that the marketing strategy you employ is going to be profitable. Many marketers will test a variety of tactics before investing a large chunk of the funds into whatever works. Of course, every business’s strategy will be different, but one thing is for sure: email marketing will give you results!
The first email blast was sent in 1978 and it generated the company $13 million in sales. Pretty impressive, right? Though things have changed quite a bit since the seventies, with companies having to compete a lot harder for their customer’s attention (and their cash), the return on investment for email marketing is still sky high.
Email marketing ROI is now calculated at 4400%. That’s $44 for every dollar you spend on your email campaign. And the best thing is, you can start collecting subscribers and sending them emails for free!
So when people ask “Is email marketing dead?” The answer is a resounding no.
It’s important to monitor the results of your email campaigns to find out what’s working and what isn’t. One of the most important metrics in email marketing is the open rate. This tells you what percentage of subscribers contacted opened the email.
On average, newsletters should have a 15-25% open rate, though this depends on the health of your list, subject lines, and even the industry you operate in (more on that below).
Email marketing platform, GetResponse, found the following average results:
With these figures in mind, you can see just how important it is to create an engaging welcome email with a clear call-to-action. Nothing too salesy though – you don’t want to put them off!
Depending on the nature of your business, examples of an action for your readers could be to:
Considering triggered emails have the next best open rate, email marketers will be wise to choose an email marketing platform with automation capabilities.
But how does the open rate vary between industries? You’d be right to think that those working in the retail industry don’t have the same kind of open rates boasted by the nonprofit sector.
According to Constant Contact, these are the industry open rates as of October 2020:
|Industry||Open Rate||Click-through Rate||Bounce Rate|
|Art, Culture, Entertainment||15.95%||8.37%||7.25%|
|Home & Building Services||18.67%||6.66%||11.69%|
|Marketing, Advertising, Public Relations||11.63%||8.80%||10.64%|
|Restaurant, Bar, Cafe, Caterer||13.94%||5.25%||9.92%|
|Salon, Spa, Barber||13.53%||4.58%||13.98%|
|Travel and Tourism||14.83%||5.19%||7.80%|
As you can see from the table, having a good open rate doesn’t necessarily mean an equally good click-through rate. For example, those working in the marketing, advertising and public relations industry have one of the lowest open rates but benefit from one of the highest click-through rates.
Click-through rates are also a very important metric to track. After all, each email should have a clear call-to-action for the reader, and this metric lets you know if they’ve carried it out.
42% of all emails are opened on mobile devices, showing that recipients are likely to be reading your emails on the go. This figure makes a lot of sense seen as 49% of all web traffic in the US was from mobile devices in 2019 – a lot of which I’d imagine were directed to sites via email marketing.
This should give you an idea of just how important it is to optimize your email campaigns for mobile and tablets. In fact, 42.3% of readers will simply delete non-optimized emails, which is obviously something you really want to avoid.
We carry out our own bi-annual deliverability tests on the most popular email marketing platforms. We found that email deliverability averages at 85.2%, meaning that 14.8% of all emails go missing or are caught by the spam filters.
Of course, this is an average and some email platforms see a greater proportion of their emails getting lost in the mail. We’d recommend keeping an eye on deliverability rates and carrying out your own tests.
Abandoned cart emails make you money. Fact.
Klaviyo, an ecommerce platform, carried out an analysis which revealed that abandoned cart emails could be highly lucrative. In the analysis, approximately 3,000 customers recovered more than $60 million in abandoned cart revenue in just three months using an abandoned cart email series. They also discovered that, on average, abandoned cart emails have conversion rates that are 3x greater than other automated workflow emails.
That’s pretty impressive, especially when you consider how little work it takes the marketer to set up. If you have an ecommerce this is something that you should be implementing yesterday!
Many people use software applications on their desktop, mobile or tablet to read, send and manage their email.
Popular desktop clients include Outlook and Apple Mail, and the most popular web-based email system is Gmail. Apple iPhone is the most popular reader used.
Some email marketing platforms allow you to preview your email design on a number of different email clients. I would bear the above figures in mind when doing so, whilst also checking it against your own data regarding your subscribers.
“B2B” stands for ‘business to business’ and refers to operations that are directed towards selling products and services directly to businesses.
“B2C” stands for ‘business to consumer’ and concerns selling products through businesses directly to consumers.
Are there any email marketing statistics you’d like to see featured in this article? Let us know in the comments below.