An email marketing strategy is a salient part of any marketing strategy. ROI on email marketing is far higher than any other form of marketing, which makes it the most cost-effective way to promote your products, communicate your brand to your customers, and reach your business goals. Email marketing outperforms all online marketing strategies, including SEO, SEM, and content marketing!
On average, for every $1 you spend on email marketing, you can expect a return of $51 (a significant increase from $39 just last year)!
Kinda awesome, right?
Listed below are a few cold email facts and statistics to help you market better in 2021.
When we say personalization, we don’t mean that you send an individual email to every single subscriber. We mean you can leverage customer data to create a personalized marketing communications strategy.
It’s not “Dear valued customer”, but “Dear John”.
It’s not, “You might like these”, but “You might like these because (based on customer’s purchase history)”.
Email marketing is not just another marketing channel. A study by Experian found that personalized emails can deliver 6x higher transaction rates!
Let’s break this down into numbers…
A recent research by Cheetah Digital found that email marketing generates $0.08 in revenue per email.
If you send out an email campaign to 1 million subscribers, you can generate up to $80,000 in revenue.
That’s a lot of money!
And if you personalize your emails, you can definitely expect a lot more!
According to a study, advanced personalization more effectively can earn $20 back on every $1 invested in personalization. How’s that for an awesome investment opportunity?
How can B2B data help you personalize your email marketing strategies?
You need to go the extra mile to understand each buyer’s priorities and add value to their decision-making process. To make it happen, you need accurate B2B data, powerful technology, good content, and a willingness to experiment. As you can see from the pointers listed below, success is a process.
Segment by industry. Knowing the industry of your target audience is a great way to segment your email campaigns. For example, a business that sells cookware would engage at a much higher rate if they receive email campaigns on kitchen and cleaning, compared to a business that sells software.
Segment by company size. This is also known as account-based marketing (ABM). Segmenting email campaigns by company size or annual revenue is a great way to boost response rates. A small business that employs 10 people is not likely ready for the biggest industry conference of the year. A business that employs 1000+ people might be a better fit.
Segment by sales cycle. Early-stage buyers might be willing to receive industry research or a white paper. They will not be ready for an aggressive sales pitch or one-to-one demo. In contrast, buyers who are ready to buy will respond well to product webinars or free trial offers.
Tailor your message. Use data to tailor your emails in a way that resonates with each of your target audiences. For instance, if you are targeting customers in a particular geographic region, you can mention something about that place in your message.
Personalization in email marketing an attainable marketing strategy for your business. Focus on what business data you have or could collect on your customers and see how it can be used. It’s simpler than you think. For more information, reach out to us today!