If you're like me, you unlikely suffer from email overload. Multiple email accounts (I have 4) across multiple devices (I have 5, including an iPad and an iPhone) and not enough hours in a day to actually read all of the emails I do receive. It would be easy to conclude from what I've just told you that email, as a marketing channel, is no longer an effective way to acquire and retain customers like me.
Not so fast.
As I was researching material for an upcoming guest lecture I'm going to be giving on digital marketing, I discovered evidence to suggest the opposite may be true. Here's why...
"...research shows old-fashioned email is still far more effective than social media in attracting customers to your business online."
- Forbes, 'Why Email Is Still More Effective Than Social Media Marketing,' October, 1, 2013
"Email subscribers can also deliver something that traditional websites and social media struggle with: loyalty."
- Adweek, 'Don't Count Out Email Newsletters,' April 15, 2014
A 2013 e-commerce study by predictive analytics firm Custora found that customer acquisition via email has quadrupled over the last 4 years. Email marketing is a growing trend in e-commerce, with increasing numbers of retailers building communities, collecting email addresses and converting email subscribers to customers. The study also found the Customer Lifetime Value (CLV) from customers who arrive through the email channel is 12% higher than average.
If you're a marketer, be sure to include email in your marketing mix. And visit us again next week when I share some tips with you for optimizing your email marketing strategy.