Remember when we all panicked that the email was dying, and it would no longer be the way to connect with prospects and customers? Thankfully, we were wrong. In fact, according to Mailbutler:
‘Globally, the number of sent and received emails per day is projected to increase to 347.3 billion in 2023. This figure is set to grow to 376.4 billion by 2025.’
With a global recession upon us, email marketing is a great tactic to help mid-sized B2B businesses save money. Email marketing has a significantly higher return than other channels: it's estimated that email generates $38 for every $1 spent (£30 for every 80p spent)… that’s 3,800% ROI! Social media comes in at a distant second place with an estimated average ROI of 28%.’
If email is here to stay, ask yourself the following:
According to HubSpot data collected in Benchmark Groups by Databox, the median number of emails sent by B2B businesses per month is 1,750.
How do you shape up to the competition? Are you sending more or fewer than that number?
*Data from Databox's Benchmark Groups
This equates to:
To some businesses, this might sound like a large volume of emails, but if you have clean data, clearly segmented contact lists, and a full-funnel email journey, it shouldn’t sound too surprising. Email marketing should be a strategy all B2B businesses harness to keep front-of-mind with contacts, build trust and ultimately, reduce costs.
Of course, the question isn’t just the quantity, but the quality of emails. Are you sending the right kinds of emails to the right people at the right time?
How many of the following email types are you sending each month?:
Newsletters to subscribers: 33% of marketers send weekly emails
A weekly check-in with topical tips, up-to-date industry news and a free tool or piece of content is a great way to build long-term trust with contacts.
It’s still the best way to reach out: less intrusive than a phone call, more reliable than social media. Adding personalisation tokens, such as name, details about their previous purchase history, and addressing common pain points makes your emails even more sincere.
Has someone converted on a form on your website? Whether they’ve received access to a guide, a webinar or enquiry form, make sure you follow-up with contacts via email to reassure them and attach a link to the offer.
And 80% of marketers even say they’d ditch social media marketing in favour of email marketing! Being helpful, giving value before you get something in return, showing thought leadership and offering free advice are all ways of generating leads with email.
Do you have automated email workflows to take care of your leads once they enter your CRM? Are they sent appropriate content to help them make decisions about their purchase? Are these email journeys segmented by user type, interests and behaviours?
If you’re already delivering a wide range of marketing emails to both your prospects and clients, you can feel reassured. Perhaps you cover all the examples above, with great personalised outreach to new contacts; an engaging follow-up journey for converted contacts; and a slick, automated nurturing journey for new customers.
Maybe you already send 1,750 emails per month – or maybe more.
But if there are gaps in the types of emails you’re sending to contacts – and if your monthly number falls well short of the competition – you might want to consider a lead generation or lead nurturing audit to identify those missed email marketing opportunities.
An email marketing audit will:
Step 1: Identify how many emails you’re currently sending, who they’re going to, and what those complete journeys look like.
Step 2: Review the content of those emails and plot them against your buyer personas to ensure they are fit for purpose.
Step 3: Create recommendations about what’s missing and how to close that gap to future-proof your email marketing strategy for the challenging times ahead.
Whatever you do, ensure your email marketing strategy is as robust and agile and as it can be, to weather the storm that is coming to UK businesses in 2023.
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