Despite the buzz around new types of media and channels of communication, email marketing remains a cornerstone channel and an important marketing tool. According to a recent Gartner survey, 44% of CMOs say that email marketing is essential to their overall digital marketing strategy, allocating nearly 8% of their entire digital marketing budget to the channel.
Email marketing continues to be among the most efficient marketing channels that leverages personalization, yielding valuable customer insights and first-party data. However, while it is a fundamental touchpoint, it’s rated by digital marketing leaders as one of the least effective channels in driving conversion. Why? Marketers lost their grip on email personalization amid the customer churn and rapidly changing habits of the pandemic. Struggling brands went for quantity over quality and sent generic product email blasts, while leaders continued to activate their customer data and drive segmentation, yielding high engagement.
Email marketing strategies that are effective in buyer journey progression are built on a foundation of:
Peer and industry benchmarks serve as a critical starting point for marketing teams looking to refresh their email marketing strategy. Digital marketing leaders can no longer afford to compare their email marketing efforts to just a small subset of competitors. Instead, look to leaders inside and outside of your industry to glean insights into how leading brands are engaging and converting audiences with highly targeted email campaigns.
Lack of conversion from email marketing is especially concerning because email is widespread and commonly used close to purchase decisions. Yet this dynamic also highlights that the issues limiting the channel’s utility in driving online sales are generally broader in scope than email alone. To realize email’s value, leverage the best practices from top-performing companies such as personalization, trigger and targeting tactics, as well as incorporating technology and multiple channels, to increase email’s impact.