#LitmusLiveWeek day 5: Highlights and key takeaways
Team Taxi’s highlights from #LitmusLiveWeek day 5!
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With new technologies and channels for marketing appearing all the time, here is why email should remain the focal point.
Email continues to be the key staple for many marketing strategies. With nearly 350 billion daily emails being sent by 2022, and nearly 4 billion users (HubSpot.com), it's not hard to see why. And stability does not exclude innovation; its power should not be underestimated. The sector never sits still. The 'fight for the inbox' and a growing social appreciation for ideas like accessibility means that new features appear almost yearly.
But, despite this, email tends to be seen as a bit 'old hat' in comparison to newer marketing channels. Is this fair? We can categorically say no. Email is still king in an industry that prides itself on competition and innovation. Here are a few reasons why it should be the key marketing channel for you.
Email gives you the highest ROI of any marketing channel
For every $1 spent you can return up to $42 (on average) in sales stemming from email marketing (Oberlo.co.uk). This is far higher than other channels such as influencer marketing and paid searches, which scrape around $5.50 and $2 respectively (Paldesk.com).
And it's not hard to see why once you dig around a little. Consumers, according to Adobe, spend 2 hours a day looking at their emails. No wonder then that, in a survey by the Data and Marketing Association in 2019, 66% of respondents said they had made an online purchase as a result of an email they had received.
And it can deliver vastly more content than other areas of digital marketing. A tweet is a set amount of characters, possibly with a link. Whereas an email can contain product copy, imagery, links, and much more. And it can all be personalised to the subscriber if you have enough trackable data, so that what they receive is special to them. This can dramatically increase interest, as it's much more appealing than blanket messaging.
"Smart companies are investing more in email to further spur their ecommerce growth."
Chad S White, Oracle
Email is a trusted channel
GDPR has enabled email marketing to become an ethically conscious and trusted medium. It protects the integrity of email marketing by preventing mis-use of data and vastly reducing spam mailings. Which in return builds trust in those that use email marketing ethically.
Social media, on the other hand, is currently going through a cultural upheaval. More and more people are calling for tighter regulation, as social media is increasingly seen as enabling some users to spread unethical content and behaviour. As a result, increasing numbers are turning away from platforms and subscriber levels are dropping. In marketing terms, this is one of the only channels which is seeing a declining audience number.
"Approximately 74% of Facebook users deleted the app between 2017 and 2018"
Pew Research Center and Statista, via Campaign Monitor
That isn't to say you should drop your social channels. Instead try using social as a way to grow your email list. That way, you can utilise social media to drive subscriptions to where your marketing is most effective.
Email marketing can provide real insight into customer behaviour and preferences
No other marketing channel gives you such a rich view of what customers like and dislike. You can gather plentiful data by using the tracking features that come with email marketing (see our article on link tracking to discover more).
"Email marketing remains a staple channel for marketing leaders. This channel is prized for its effectiveness, measurability and the customer insights it yields."
Gartner 2020: Market Guide for Email Marketing
With this, you can tune your email marketing to give your subscribers a personalised and tailored experience. Features like personalisation and segmentation can be really effective to this end. If you know from previous emails and purchases what products a particular consumer likes to buy, or even browse, you can include these in your email marketing to them.
Email lets you nurture leads and actively increase their interest
Email marketing lets you establish trust and a rapport with a potential customer over time, so that interest is nurtured through a sequence of emails. Pushing a hard-sell, one-time, piece of marketing in front of someone usually turns them off. It's very 'take it or leave it', and customers are becoming more savvy and conscious about their purchases and, perhaps more importantly, who they are buying from. That's why initial conversion rates sit as low as 1.5% on average.
"Companies that excel at lead-nurturing generate 50% more sales-ready leads at a 33% lower cost, and nurtured leads make 47% larger purchases than non-nurtured leads."
Invespcro, via Pure360
An email nurture sequence enables you to drip them all the information they need to feel good about making a purchase. Start off by introducing yourself as a reputable company with great values and products, then hone in on the benefits of purchasing the product(s) you are offering. Over time, the exposure and information will mean interest is increased and there is a higher chance of conversion. Plus the regular brand exposure means that brand loyalty becomes a factor, and can turn a one-time purchase into a repeat customer!
It's easy to think that buying all the appropriate technologies and investing in hiring a dedicated team will be enough for your email marketing programme. The reality is much different. Whilst your team and financial investment may be in place, creating effective and worthwhile email campaigns require a significant time commitment to become efficient and aligned to your company's goals.
There are many steps to be made when it comes to setting up your email marketing.
These are all quite high-level decisions that can be made before progressing. Getting your email marketing workflow right will also take time and effort. It's not something you can expect to get right the first time. You will need to:
All of these come with a steep learning curve, where it's easy to settle into a working process that works, but isn't necessarily the easiest and most efficient. Over time this becomes entrenched and is then simply 'this is the way we've always done it'. With email marketing being such a progressive and innovative industry, falling behind due to ingrained inefficiencies is something to be very aware of.
Investing the time to solve this is important to keep your email effective. Alternatively, and happily, there is another way.
Taxi is designed with one purpose in mind: to make it easier, faster and more efficient to make awesome email. It revolutionises how teams make marketing emails, making the production collaborative and easy to do at pace and scale.
Taxi gives you the power to remove inefficiencies and improve your workflow. It can reduce the time from creation to send up to 80%. This means you can create more email campaigns with the time you save, and concentrate on making your emails smarter with features like personalisation and segmentation. With an increased frequency and 'intelligence' of your email communications comes more brand awareness and more content and offers you can send, and tailor, to your subscribers. Smarter and faster content can keep your audience interested and increase sales!
Increased speed doesn't come at the expense of quality though. By enabling a highly collaborative working process, you can be sure that your team is working together to make the best email possible. And you can set controls and permissions to keep your teams on track and limit any additions that don't fit your brand. Plus, Taxi makes using more advanced features such as personalisation and feeds super easy, so your team is confident enough to use them regularly.
Taxi helps marketing teams make better quality email, quicker, at a larger scale.
Team Taxi’s highlights from #LitmusLiveWeek day 5!
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Twitters highlights from day 4 at #LitmusLiveWeek.
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