Opinions expressed by Entrepreneur contributors are their very own.
With new social platforms rising yearly, many entrepreneurs marvel if they need to go away electronic mail behind and sit up for new avenues. Do you know that electronic mail remains to be the second largest marketing channel for startups, proper behind social media? That is proper! It is all due to its low price and unbelievable return on investment (ROI). In accordance with the study by Litmus, it stays probably the greatest ROIs on the market; firms can count on to make a whopping $38 in return for each greenback they spend on electronic mail advertising and marketing.
Because the CEO of Builderall, an all-in-one digital advertising and marketing platform that has supported over 2,000,000 small companies, I typically get requested if electronic mail advertising and marketing remains to be an efficient technique on this new section of our digital age. Is it lifeless in 2024?
I am right here to debunk the largest myths and set the file straight. Right this moment, I will share my insider information that can assist you see the sunshine.
Defining electronic mail advertising and marketing
Earlier than we debunk these myths, let’s be sure that we’re all on the identical web page about what electronic mail advertising and marketing really is. Many individuals have misconceptions about this type of digital marketing, which might flip them off — and that results in missed alternatives.
E mail advertising and marketing is a direct advertising and marketing technique that sends promotional or informational messages to a focused viewers through electronic mail. It goes far past blasting promotions or chilly outreach. Performed proper, it builds significant relationships between your model and subscribers. It is a solution to maintain them engaged, and in the end, it is one other solution to drive gross sales.
Some examples embrace
- Newsletters
- Promotional provides
- Product updates
- Even personalised content material based mostly on a subscriber’s pursuits.
Associated: 8 Simple Email Marketing Tips to Improve Your Open and Click-Through Rates
Fantasy #1: E mail advertising and marketing is lifeless
Let’s deal with the elephant within the room first. No — electronic mail will not be lifeless! In actual fact, it is from it and nonetheless going sturdy.
In accordance with information offered by Oberlo, 80% of businesses depend on electronic mail as their major customer retention channel. Meaning they’re utilizing electronic mail to maintain their present clients engaged and coming again for extra.
However that is not all. HubSpot found that 60% of consumers made a purchase order due to a advertising and marketing electronic mail they obtained. That is an enormous testomony to the ability of electronic mail advertising and marketing in driving income for companies.
Fantasy #2: Folks do not learn emails
I can not inform you how typically I hear this fable. Certain, our inboxes have gotten fairly crowded through the years, and many people obtain dozens and even a whole bunch of emails each day. It is also true {that a} good chunk of these emails may get despatched straight to the trash or spam folder.
Nevertheless, in keeping with HubSpot, 46% of smartphone users nonetheless choose to listen to from manufacturers through electronic mail over different channels.
In the event you set up belief and ship related content material, subscribers will welcome your emails with open arms.
This stat additionally highlights the significance of placing care in your campaigns through the use of compelling topic strains and different electronic mail components to face out in a crowded inbox.
Fantasy #3: Youthful audiences do not use electronic mail
Gen Z and millennials are the following technology that may have some critical buying energy. It is solely logical for companies to search for new and progressive methods to method them, as they’re typically portrayed as being glued to their screens and obsessive about social media platforms.
These stereotypes lead many individuals to imagine Gen Z and millennials are too obsessive about TikTok and Instagram for old-school methods like electronic mail. Let me show them flawed once more. In accordance with the Attest U.S. Consumer Trend Report, 53% of Gen-Z get pleasure from weekly emails from their favourite manufacturers. For millennials, it is 66%.
After all, you may wish to cater your method to every viewers (throw in some slang or a meme right here and there,) however do not depend electronic mail out. These technology segments nonetheless use and like it.
Fantasy #4: E mail has low open charges
The subsequent fable I wished to the touch on is extra tangible. Some say electronic mail performs poorly in comparison with social media platforms like Fb or Instagram. For that, we’ll have to have a look at the open charge.
Open rate is an important key efficiency indicator (KPI) in digital advertising and marketing as a result of it tells you the way many individuals are literally opening and studying your emails. MailChimp benchmarks tell us the common electronic mail open charge throughout all industries is 34.23%. Whereas that may not sound superb, it is undoubtedly not unhealthy both.
With optimization, that quantity can develop a lot larger and convey advantages. As reported earlier, that is why so many companies nonetheless depend on electronic mail as their major buyer retention channel.
Associated: This One Thing Is the Secret to Higher Email Open Rates
Fantasy #5: E mail advertising and marketing equals spam
Lastly, enable me to go full circle and return to the definition of electronic mail advertising and marketing. Too many individuals confuse basic electronic mail advertising and marketing with a considerably shady observe: chilly outreach.
Chilly emails are unsolicited messages despatched to individuals who haven’t expressed curiosity in your model or merchandise. You primarily purchase or scrape an inventory of electronic mail addresses (unbeknownst to the recipients) and blast bulk emails, hoping to catch just a few leads. They’re typically used for prospecting and may come throughout as intrusive if not performed proper. That is as a result of no one gave you permission to contact them.
Alternatively, electronic mail advertising and marketing is about constructing relationships with individuals who have already proven curiosity in what you supply. They could have signed up to your publication via a lead magnet or opted in to obtain your updates. That is an enormous distinction!
It’s this latter type of communication that 81% of businesses use email as their major customer acquisition channel. It drives outcomes with out spam ways.
Last ideas
Whereas many entrepreneurs might really feel drawn to the most recent shiny object or know-how, these myths trigger many entrepreneurs to miss electronic mail in 2024.
When executed appropriately, electronic mail advertising and marketing stays an indispensable progress lever for startups and established companies alike. Now that the reality, make the most of electronic mail advertising and marketing to boost conversions and retention. With a strategic method, you may even see even larger open charges and ROI than the research present.
Opinions expressed by Entrepreneur contributors are their very own.
With new social platforms rising yearly, many entrepreneurs marvel if they need to go away electronic mail behind and sit up for new avenues. Do you know that electronic mail remains to be the second largest marketing channel for startups, proper behind social media? That is proper! It is all due to its low price and unbelievable return on investment (ROI). In accordance with the study by Litmus, it stays probably the greatest ROIs on the market; firms can count on to make a whopping $38 in return for each greenback they spend on electronic mail advertising and marketing.
Because the CEO of Builderall, an all-in-one digital advertising and marketing platform that has supported over 2,000,000 small companies, I typically get requested if electronic mail advertising and marketing remains to be an efficient technique on this new section of our digital age. Is it lifeless in 2024?
I am right here to debunk the largest myths and set the file straight. Right this moment, I will share my insider information that can assist you see the sunshine.
Defining electronic mail advertising and marketing
Earlier than we debunk these myths, let’s be sure that we’re all on the identical web page about what electronic mail advertising and marketing really is. Many individuals have misconceptions about this type of digital marketing, which might flip them off — and that results in missed alternatives.
E mail advertising and marketing is a direct advertising and marketing technique that sends promotional or informational messages to a focused viewers through electronic mail. It goes far past blasting promotions or chilly outreach. Performed proper, it builds significant relationships between your model and subscribers. It is a solution to maintain them engaged, and in the end, it is one other solution to drive gross sales.
Some examples embrace
- Newsletters
- Promotional provides
- Product updates
- Even personalised content material based mostly on a subscriber’s pursuits.
Associated: 8 Simple Email Marketing Tips to Improve Your Open and Click-Through Rates
Fantasy #1: E mail advertising and marketing is lifeless
Let’s deal with the elephant within the room first. No — electronic mail will not be lifeless! In actual fact, it is from it and nonetheless going sturdy.
In accordance with information offered by Oberlo, 80% of businesses depend on electronic mail as their major customer retention channel. Meaning they’re utilizing electronic mail to maintain their present clients engaged and coming again for extra.
However that is not all. HubSpot found that 60% of consumers made a purchase order due to a advertising and marketing electronic mail they obtained. That is an enormous testomony to the ability of electronic mail advertising and marketing in driving income for companies.
Fantasy #2: Folks do not learn emails
I can not inform you how typically I hear this fable. Certain, our inboxes have gotten fairly crowded through the years, and many people obtain dozens and even a whole bunch of emails each day. It is also true {that a} good chunk of these emails may get despatched straight to the trash or spam folder.
Nevertheless, in keeping with HubSpot, 46% of smartphone users nonetheless choose to listen to from manufacturers through electronic mail over different channels.
In the event you set up belief and ship related content material, subscribers will welcome your emails with open arms.
This stat additionally highlights the significance of placing care in your campaigns through the use of compelling topic strains and different electronic mail components to face out in a crowded inbox.
Fantasy #3: Youthful audiences do not use electronic mail
Gen Z and millennials are the following technology that may have some critical buying energy. It is solely logical for companies to search for new and progressive methods to method them, as they’re typically portrayed as being glued to their screens and obsessive about social media platforms.
These stereotypes lead many individuals to imagine Gen Z and millennials are too obsessive about TikTok and Instagram for old-school methods like electronic mail. Let me show them flawed once more. In accordance with the Attest U.S. Consumer Trend Report, 53% of Gen-Z get pleasure from weekly emails from their favourite manufacturers. For millennials, it is 66%.
After all, you may wish to cater your method to every viewers (throw in some slang or a meme right here and there,) however do not depend electronic mail out. These technology segments nonetheless use and like it.
Fantasy #4: E mail has low open charges
The subsequent fable I wished to the touch on is extra tangible. Some say electronic mail performs poorly in comparison with social media platforms like Fb or Instagram. For that, we’ll have to have a look at the open charge.
Open rate is an important key efficiency indicator (KPI) in digital advertising and marketing as a result of it tells you the way many individuals are literally opening and studying your emails. MailChimp benchmarks tell us the common electronic mail open charge throughout all industries is 34.23%. Whereas that may not sound superb, it is undoubtedly not unhealthy both.
With optimization, that quantity can develop a lot larger and convey advantages. As reported earlier, that is why so many companies nonetheless depend on electronic mail as their major buyer retention channel.
Associated: This One Thing Is the Secret to Higher Email Open Rates
Fantasy #5: E mail advertising and marketing equals spam
Lastly, enable me to go full circle and return to the definition of electronic mail advertising and marketing. Too many individuals confuse basic electronic mail advertising and marketing with a considerably shady observe: chilly outreach.
Chilly emails are unsolicited messages despatched to individuals who haven’t expressed curiosity in your model or merchandise. You primarily purchase or scrape an inventory of electronic mail addresses (unbeknownst to the recipients) and blast bulk emails, hoping to catch just a few leads. They’re typically used for prospecting and may come throughout as intrusive if not performed proper. That is as a result of no one gave you permission to contact them.
Alternatively, electronic mail advertising and marketing is about constructing relationships with individuals who have already proven curiosity in what you supply. They could have signed up to your publication via a lead magnet or opted in to obtain your updates. That is an enormous distinction!
It’s this latter type of communication that 81% of businesses use email as their major customer acquisition channel. It drives outcomes with out spam ways.
Last ideas
Whereas many entrepreneurs might really feel drawn to the most recent shiny object or know-how, these myths trigger many entrepreneurs to miss electronic mail in 2024.
When executed appropriately, electronic mail advertising and marketing stays an indispensable progress lever for startups and established companies alike. Now that the reality, make the most of electronic mail advertising and marketing to boost conversions and retention. With a strategic method, you may even see even larger open charges and ROI than the research present.