IS EMAIL MARKETING DEAD?
I recently read some scary statistics about the declining effectiveness of email marketing. It’s hardly surprising when you see the extent o which we are swamped by this free medium.
I returned from a business trip to Beijing and Singapore recently and found that I had over a thousand emails waiting for me. How much attention do you think I gave each one? As my finger hovered over the delete key I checked the subject line and the ‘from’ address. Unless there was the promise of something exceptional, even those from a trusted source were excised without a second thought.
Here are the grim statistics:
2002 – 37.3% email open rate
2009 – 26% email open rate
2011 – 17% email open rate
2014 (est) – 9% email open rate
And it’s no better for banner ads on websites. Back in the 1990′s you could rely on around 3% of the people who saw your banner clicking on it to get to your website. A decade later that figure had already declined to 0.5%. Today it barely registers at 0.1% click through rate.
So the important question is, how much does your business depend on email marketing? What other channels do you have for reaching out to new prospects and building relationships with existing clients?
If you rely heavily of totally on email marketing, it’s time for an urgent change of strategy.
Chairman, Who’s Who Of Britain’s Business Elite