How Effective is Email Marketing for B2B Businesses in 2019
Email marketing, no doubt, is one of the strongest and most effective tools for B2B businesses. It helps with brand awareness, connecting with the audience on a personal level, generation demand and acquiring quality leads.
Basically, there is nothing email marketing cannot help you with. It is like the superhero of all tactics.
And, if you are not utilizing it to its full potential, then you should include that in your plan for 2019.
If you doubt the effectiveness of email marketing for B2B businesses, then consider these stats
Email marketing generates $38 in revenue for every $1 spent
86% of professionals use email when communicating for business purposes
B2B emails have a 47% higher click-through rate (CTR) than B2C emails
59% of B2B marketers say that email is the most effective revenue-generating channel
In other words, email marketing is a MUST-HAVE tactic. Let’s look at how effective is Email Marketing for B2B Businesses in 2019
1. It is more effective than other channels, like social media ads
No doubt, social media is important and a great way to connect with your audience and potential buyers.
But, when it comes to converting potential buyers into buyers or customers, email marketing is the way to go. That isn’t a baseless claim, so let us share a few studies
A study by Custora from 2013 found that customer acquisition via email marketing has quadrupled in the four years preceding 2013. Email marketing then already accounted for nearly 7% of all customer acquisitions that occurred online.
In another study done by marketers in March 2016: 81% and 80% of respondents, respectively, said email marketing drives customer acquisition and retention. After email marketing, organic search paid search and social media were rated as the most effective marketing tactics for customer acquisition and retention.
2. It is the most cost-effective tactic there is
Email marketing is inexpensive, which makes it a great choice for small as well as big businesses.
According to this, on an average, a mid-size business can expect to spend $9 – $1,000 per month on email marketing if they self-manage their campaigns (depending on the platform and number of subscribers) or $300 – $500 per month if they work with an agency.
The percentage of budget you dedicate to email marketing depends on a lot of factors including
- Your overall business goals
- Marketing goals
- Percentage of overall revenue that is generated through online efforts
- Industry type
- Products and services that you sell
Whatever percentage of the budget you decide to dedicate, remember that if you follow the best practices and utilize it the right way,it can earn you an incredibly high ROI — $44 for every $1 you spend.
3. It allows segmentation and personal communication
Segmentation is a powerful tactic which makes email marketing the most effective tool. When you segment a list based on interest or the stage in the buyer’s cycle, you can send a tailored email that resonates with your reader and provides tonnes of value.
Did you know that a segmented email marketing campaigns get 14.64% more email opens and 59.99% more clicks compared to non-segmented campaigns?
Not only that,
Segmented emails have conversion rates 208% higher than batch-and-blast and marketers have witnessed an increase of 760% in email revenue from segmented campaigns
4. High mobile accessibility and usability
Just like social media apps, emails are also majorly accessed on the mobiles. Email marketing allows you to exploit that. 59% of email opens worldwide occur on mobile and worldwide mobile email users are expected to total over 2.2B by end-2018.
People check emails on the way to work, in the metro, or in the line at the Starbucks. If you time the email when most of your users tend to check them, you can boost your ROI quickly.
5. Allows you to reach an already engaged audience
If there is someone of your list, they have asked to receive more information from you. The trust has already been built and you have to exploit it the right way.
This results in a much higher conversion rate because you are already targeting people interested in your brand. It is also much easier to strategize flow of your audience through various stages of the buyer’s cycle
6. You can automate funnels
Email marketing tools allow you to automate the sales cycle. You can set up drip email campaigns which automatically send email messages to subscribers on a set schedule. This helps you create automatic touch points with your customers.
You can also set automatic emails to a trigger event.
7. Easy to measure the return on investment
Email marketing campaigns are easy to measure. You can look at the click-throughs, opens, conversions, bounce rates, unsubscribe rates etc.
It allows you to understand how your email campaign is doing and analyze the return on investment on these campaigns.
Did you know that 89% of marketers said that email was their primary channel for lead generation?
Depending on the results, you can make the required adjustments. For example, changing the subject line or the call to action. You can also run A/B testing and understand what works best for your business.
In 2017, global e-mail users amounted to 3.7 billion users. This figure is set to grow to 4.1 billion users in 2021, according to Statista.
Email marketing is going to be go-to tools for businesses focusing on lead generation. Are you ready? Have you included email marketing in your budget for 2019?
We would love to hear from you.