During a time where businesses rely heavily on social media in their marketing plans, it seems apparent that older versions of Internet marketing are dying down. But maybe they’re not going anywhere at all. An older, familiar form of marketing still exists and may be more effective than any likes or tweets on Facebook and Twitter.
While it’s an ancient method, e-mail still serves as a powerful marketing tool. According to a survey on e-mail marketing by McKinsey & Co., e-mail is 40 times more effective in garnering customers than social media marketing. Unlike social media posts which are used to engage customers, e-mail is meant for acquiring them.
Think about it: what do you want to reach through marketing for your business? You most likely want more customers and sales conversions. According to the survey, 91 percent of all US consumers still use e-mail daily and the rate at which this prompts purchases is estimated to be at least three times that of social media with the average order value 17 percent higher.
Why is e-mail still an effective marketing strategy?
Have you ever subscribed to a business’s mailing list? If so, then you’re probably interested in receiving updates, offers, and information. E-mail may be the dinosaur of the marketing world, but people still prefer receiving offers directly to their inbox.
Users who subscribe to receive updates are giving your business permission to send them messages. Even more, with the increase in smartphone and tablet usage, e-mail is always available. You can constantly connect with your customers.
What sets e-mail apart from social media?
Social media networks like Facebook and Twitter are used to send the latest news and updates, but e-mail is used to send offers. Yes, promotional messages might be deleted, but on the other hand they are read. This is where your business can directly link a customer to the products and services you offer.
You can always use social networks to send mass messages and posts across multiple channels. However this is not personal enough. E-mail in contrast, allows you to reach your customers individually which may augment long lasting relationships.
You want to gain more customers and increase sales conversions, correct? According to a study by predictive analytics firm Custora, customer acquisition via email quadrupled in the past for years, accounting for almost 7 percent of customer acquisitions. Twitter in comparison is 23 percent lower than average in customer acquisition. Does e-mail still sound old-fashioned to you?
This data does not suggest disregarding social media marketing and replacing it with e-mail. Rather, your business should utilize both e-mail and social media cohesively to boost your business’s customer base and sales conversions. With the hype of new technologies and marketing tools, it’s easy to forget about older methods. But if it still works, why lose it?