Currently, 81 percent of small businesses utilize email marketing to acquire and retain new customers. While your monthly newsletter counts, the most successful strategies capture targeted leads and funnel them into a segmented lead nurturing campaign. They also re-segment subscribers depending on their ongoing actions. Let’s dive into current email marketing trends and key strategies.
You can expect an ongoing email open rate of between 18% and 20%. That being said, your initial welcome email will have an open rate of closer to 82%. While your welcome email is likely to be short and sweet, it must add value. This is why free gifts are a common method of generating subscribers—which increases the welcome email open rate.
A few other key statistics to consider include:
72% of customers prefer email as their primary means of communication.
Marketers saw a 77% increase in email engagement in 2022.
Personalized emails increases open rates by up to 50%.
Adding a video to your email increases open rates by 300%.
Email ROI is $36 to $42 for every $1 spent on acquisition.
You can expect an average response rate of 10%.
What is Lead Nurturing?
An impressive 89% of marketers use email as their primary channel for lead generation. Why? Because it works!
It varies by industry, but it takes between 6 and 8 marketing touchpoints to convert a lead. In our digital day and age, most of these touchpoints will be via email marketing and social media retargeting.
Lead nurturing references the automated emails you send a lead after they opt-in. For new leads, it is the process of engaging and developing relationships. For existing leads, it is the process of reinforcing your relationships.
The Power of Customer Retention
We can’t discuss email marketing trends, without addressing customer retention. While acquiring new customers is always a priority, it costs 5 to 25 times more to acquire new customers than it does to retain existing customers. Delivering quality products and services is essential for retention, but so is building brand loyalty—and keeping your brand top of mind.
Email retention strategies go beyond sales emails and monthly newsletters, to segmented, triggered, and personalized emails:
Segmented emails—this is the process of hyper-targeting. For example, instead of targeting “fitness enthusiasts” create three or more campaigns. Maybe one for weight loss, one for building muscle mass, and one for losing baby weight.
Triggered emails—this is the process of re-segmenting leads in response to designated actions. This might include making a purchase, watching a video, or clicking on an internal link. It also includes scaling back on emails if the open rate is low.
Personalized emails—this is the process of automating user-specific content. The most common example is sending an email the next time a customer’s preferred product is on sale. However, this strategy goes beyond sales, to automating content that adds individual value.
How Can We Help?
In addition to the email marketing trends above, you need to know how to measure the ROI of your campaigns. This is one of many ways TEK REMEDY can help!
Set up your email marketing software.
Designed branded email marketing templates.
Design hyper-targeted lead generation ads.
Design engaging opt-in landing pages.
Set up segmented email marketing campaigns.
Perform A/B split tests for ads, emails, and landing pages.
Implement personalization and triggered re-segmenting.
We also provide an essential range of digital marketing services. Reach out today to learn more!