10 Statistics That Show The Power Of Email Marketing In 2020
With the popularity of social media, you could be forgiven for overlooking email as a reliable marketing tool. Doing so, however, misses a great marketing opportunity.
Email marketing remains an important tool for online business. Marketing emails arrive in people’s accounts and sit next to messages from friends and family, placing them right next to personal communication like this is very powerful. Here we look at 10 statistics that show the power of email marketing in 2020.
1. There are an Estimated 5.6 Billion Active Email Accounts in 2020
Email remains incredibly popular with the number of accounts and users growing each year. There are an estimated 5.6 billion accounts being used today by around 4 billion users.
This equates to, in the region of, 300 billion emails being sent and collected each day. This shows that email is still a very powerful resource to marketers in 2020.
2. Return on Investment of $32 for Every $1 Spent
A study from DMA shows that, on average, email marketing campaigns see an amazing return on investment of $32 for every dollar invested. Of course, results will vary massively depending on your offer and the industry you are in, but this clearly shows you should be paying more attention to email if you aren’t already.
3. Welcome Emails are Opened 82% of the Time
Open rates vary across the industry but are normally around 20%. Welcome emails blow this out of the water with more than 8 out of 10 customers clicking on them.
With this level of response, it is crucial that you make the most of this audience. It is your first email marketing opportunity and the one which your customers are more interested in.
4. Personalization Increases Open Rates by 50%
The open rates of emails can vary widely as revealed by the previous statistic. A boost of 50% to the open rate was seen by Yes Lifecycle Marketing when analyzing more than 7 billion emails. This personalization included adding the name of the person receiving the email, or a product they were interested in or had purchased, to the subject line.
5. Millennials Prefer Marketing by Email
Surveys have revealed that millennials much prefer to receive business communications through email than any other medium. It found that 73% favored marketing emails over other sources. This stat suggests that email marketing will remain important for some time to come.
6. Most Consumers Check their Email Accounts Everyday
Studies show that despite the popularity of social media people still look to email as an important communication method. 99% of people, when asked, claim to check their email accounts for new messages every day.
This isn’t really surprising, with much important business communication now using email, as well as friends and family messages that people need to stay on top of.
7. The Majority of Customers Say that Email Influences their Purchases
Email marketing is still a powerful way to influence customers. Data reveals that 59% of people admit to being influenced by emails. This figure, though, may actually be underestimating the real influence gained from email marketing.
8. Nearly Half of Email Openings are on Mobile Devices
The use of email marketing allows you to reach people regardless of the platform they prefer to use. Stats from IBM show that 49% of emails are opened on mobile devices. This shows that email is keeping up with the changing nature of the way people communicate and the devices they use to do this.
9. Abandoned Cart Emails Regain Customers
Cart abandonment is a big problem in e-commerce, with average rates ranging from 60 to 80 percent. Regaining some of these people as customers is going to make a massive difference to your profitability.
Email has been shown to be an effective means of bringing people back to the checkout. Sending a sequence of 3 emails has been shown to produce 69% more orders than just a single message.
10. Email Grows Your Business
Email is still a great way to gain and keep customers. Small and medium-sized businesses find great benefits when utilizing email communication, with surveys suggesting that it is the main means of getting new business for 81% of companies. The data also shows that email is used to retain customers by 80% of business.
These stats show that email marketing is as good or better than it was in the past and emphasizes that it is a very powerful method of reaching customers. If your business isn’t making adequate use of email marketing it is a big opportunity missed.