- As economic conditions change, marketers are continually evaluating the channels they use to run their campaigns.
- However, email marketing has consistently delivered good results for marketers.
- UpCity recently conducted a survey to gain further insight into the current state of email marketing.
Economic conditions are continually changing and impacting marketing budgets. Businesses and marketing leaders are continually reevaluating the channels they use to run their campaigns. Although he is cautious about certain marketing channels, he is aggressive about some others. However, one marketing channel that consistently delivers results in a changing marketing environment is email marketing.
To gain more insight into the current state of email marketing, UpCity conducted a survey. Below are some lessons learned from the research.
Frequency and consistency are key to success
The effectiveness of email marketing depends on how marketers time their email delivery. The survey found that 65% of marketers email their marketing messages daily or weekly. Additionally, most respondents are evenly split between sending emails daily (32%) or weekly (33%) to increase brand awareness and maximize lead generation.
Of course, the ideal frequency will vary depending on your individual business, industry, and how engaged your email subscribers are. That said, it may be better to send emails less often than to be overwhelmed with emails every day before you're ready. Sending weekly emails allows your marketing team to reach a larger audience over time without overwhelming them. Marketers can also use analytical tools to identify the optimal email marketing frequency for their company.
see next: 4 Easy Email Marketing Automation Adjustments to Boost Sales
Time of day can affect the effectiveness of your email campaigns
The time an email is sent can also affect the effectiveness of a campaign, as can frequency.a HubSpot research We've found that emails sent during the first half of the week tend to get the most engagement in certain industries. Additionally, emails sent between 9am and 12pm on Tuesdays have a greater impact.another Survey with GetResponse showed similar findings. According to the study, open rates and click-through rates (CTR) were highest on Tuesdays and lowest on weekends.
This can also vary depending on your industry, business, and the type of subscribers your business is targeting. Again, the best course of action is to use analytics tools to understand the optimal email frequency for your business.
Acquiring new customers was the main goal of email marketing efforts
The survey found that the primary goal of 30% of respondents was acquiring new customers. For 28% of respondents, their goal was to increase brand awareness, and for 27%, their goal was to introduce their company's products or services. Interestingly, the main goal of 26% of respondents was to increase traffic to their website. Only 25% said their primary goal was to provide more relevant content.
Main goals of email marketing outreach
sauce: UpCity 2023 Email Marketing Statistics Survey
Companies seem to be focused on increasing their active customers by growing their email subscriber lists and expanding their potential customer base. Given the current economic climate, this makes sense.
Interestingly, 23% of respondents are focused on encouraging email recipients to take action. This signals a shift in messaging and an overall goal to inform and educate rather than just drive conversions. Companies seem to rely on the power of engagement with recipients and gradually introduce services and solutions.
Many marketers spend $101 to $500 per month on email marketing
The study found that 37% of marketers are spending between $101 and $500 per month on email campaigns this year. This is the same as last year, so UpCity's 2022 Report found. Additionally, large businesses are still spending more on email marketing, while small businesses spend less and may struggle to see value.
Approximately 52% of businesses with monthly spends of less than $100 reported positive open rates of 16% or higher. Almost 75% of these companies reported an ROI of $21 or more for every dollar spent. On the other hand, businesses that spent more money per month (more than $500) had slightly higher open rates. Approximately 57% of businesses reported an open rate of 16% or more, and of those, 51% of businesses achieved an ROI of more than $31 per dollar spent. In fact, over 50% of all respondents said their average ROI for every dollar spent was between $21 and $40.
This means that anything a business can spend on email marketing, whether it's $50 or $500, is a good investment. The deciding factor may be how much growth the business can accommodate.
Finding the right tools and service providers is the biggest challenge
It's known that email marketing delivers great ROI, but how do marketers make email marketing effective? What tools and service providers should they consider? is the biggest challenge facing respondents, with 46% reporting this. This was followed by getting the recipient to open or reply (43%), getting an acceptable ROI (42%), and creating effective content (42%). Building an email list It didn't seem to be too difficult, with only 31% reporting it.
Key email marketing challenges for marketers
sauce: UpCity 2023 Email Marketing Statistics Survey
The challenge of finding the right tool or service provider is likely why 51% outsource their email marketing to freelancers, contractors, or third-party agencies. 39% of those responsible for email marketing in-house struggle primarily with finding the right tools and service providers, as well as some of the challenges listed above.
Sales emails and promotional emails are the most common types of marketing emails
Content marketing and email marketing work together, especially when marketers want to capture the attention of post-pandemic consumers who are more focused on experience and knowledge than being sold to. That said, many emails sent by marketing professionals seem to support the customer journey, from post-sale welcome emails to re-engagement emails. Email is likely to be used more for sales and promotions (34%), as educational content such as blogs can be distributed using other channels.
Main types of marketing emails sent by companies
sauce: UpCity 2023 Email Marketing Statistics Survey
After a well-crafted inbound marketing campaign, using sales-focused emails as an endpoint in the inbound marketing chain can help guide decision-making.
see next: Email and SMS — a marketing match made in heaven
Most people report open rates around 11-20%
According to the study, 30% of marketing professionals reported an average open rate of about 16-20%, and 21% reported it was 11-15%. Only about 11% said their average open rate was greater than 25%. Using message targeting and audience segmentation tools, marketers can achieve average open rates of 16-20%. However, getting your subject line, content, and most importantly your audience list and segmentation right is essential.
Maximizing email open rates is important to increase the ROI of your email marketing campaigns, as increasing open rates can directly impact CTR and conversion rates.
Think outside the box and get the right inbox
Most companies report excellent ROI from email marketing campaigns. Additionally, many people are convinced of the effectiveness of email marketing efforts. Unsurprisingly, email marketing should be a key part of your organization's growth strategy this year. However, many marketers struggle to find the right agency or tools to run their campaigns and get recipients to open or click on their emails. Therefore, marketers should focus on getting their email campaign strategy right and enlist the help of experts to identify the right tools for success.
What steps have you taken to identify the right tools and service providers for your email marketing efforts? Let us know linkedin, twitteror Facebook. We look forward to hearing from you!
Image source: Shutterstock
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