Is email marketing dead? Ask Google and it explains why email marketing is still alive and kicking. Yes, we’re inundated with emails and our inboxes are exploding, but just try to imagine a day where your inbox is silent - how cold and lonely is that?
Email is actually the most used channel of digital communication in business today (see chart below/ MarketingProf). Marketing uses email for nurturing, for retention of customers, for key notifications, for pure lead capturing, etc. Other channels like social media and PPC campaigns are certainly growing in dominance, but have not surpassed email.
The actual level of success in your email campaigns depends on a variety of factors:
The chart below presents an overview of open and click through rate statistics, but does not consider the factors mentioned above. Also, keep in mind, it combines both B2B and B2C.
Many of our customers (mostly B2B) report promotional cold email open rates in the range of 10-15% and click-through rates of 1-3% - out of total emails delivered. Sending emails to your own database of leads and contacts might get you well above a 30% open rate for significant announcements. Traditional lead generation email campaigns sent to cold emails might land you on 0.1-0.2% overall ratio of conversion.
Sound low? The data below show how to improve total conversion by up to 1% and above.
This campaign got poor open rates, which negatively affected the click through rate and overall conversion. Before we move on, let’s focus on a few factors that can improve open rates:
In this campaign, open rates were up to par with B2B standards, but click through rates were relatively low. How do you optimize CTR?
In our last example campaign, open rates and CTR were pretty good, plus eventual conversion was great. How do you achieve this conversion rate?
In general for your campaign strategy, by sending a mix of educational and promotional emails to the same audience, as well as using powerful destination sites and corresponding calling, you can achieve close to 1% overall campaign conversion.
Having said all that, the most important thing is to always measure and compare. Create your own benchmark and continue to track and record every campaign. It’s not always going to be pretty; some campaigns you will get right and others you will get wrong - badly. It’s all part of the game, just keep testing and tracking.
At Folloze we’re taking advantage of our own platform to customize a destination site for each target list and to religiously track activity on that site to get those leads at their moment of attention. We then keep a record, for each campaign, not only of open rates and click through rates, but also number and rate of leads that:
Seems to me like email campaigns are not going away anytime soon. If you got so far in your reading, you probably agree. So we’re all left with the challenge of doing it properly, which means constantly testing, measuring, and correcting course. You in? Make sure you tune in for our next post on improving conversion, and let us know if you’d like it in your inbox.