“Email is dead!”
Have you ever heard or read this phrase in relation to business marketing?
Unfortunately for business owners, this myth spreads around quite frequently, deterring many inexperienced entrepreneurs from taking full advantage of their email list.
While email is an “old” and maybe un-sexy technology compared to the more flashy social media world, email marketing is one of the most effective tools you have for turning leads into sale.
Don’t believe me? Here’s the truth.
#1 More People Use Email Than Social Media
Ipsos recently did a study where they found that 85% of people who actively use the internet also use email. Only 62% use social media platforms.
#2 Email Has Much Higher Click-Through And Open Rates Than Social Media
Click-through rates are generally much higher using emails than social media posts. According to a 2016 study by GetResponse, email open rates across all industries averages 21.73%.
This is a stark difference from social media where less than 10% of people will even SEE your message (due to constantly changing algorithms) and even less will click-through.
Data from twitter shows average click-through rates of only 1.64%. Facebook rates can be even worse at only .14% unless you pay for ads.
More clicks lead to more conversions. According to Litmus, emails have a 4.16% conversion rate, whereas social only has a .48%.
#3 Email Has Higher ROI Than Social Media Ads
According to data compiled by an email marketing analytics company, Litmus, email brings in a much higher return on investment per dollar spent. The numbers they reported are as follow:
Return On Investment (ROI)
Email : $40 for every $1 spent
Keyword ads: $17 for every $1 spent
Banner Ads: $2 for every $1 spent
As you can see from the data above, email marketing can be an effective way to increase your revenue. If you are not giving it much attention, it might be time to rethink your business priorities.