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When the economy deteriorates, there is great uncertainty. But even though the world seems to be heading towards difficult and uncertain times, we are certain of one thing: Even a global recession won't kill email marketing.
Honestly, we would probably definitely say that. However, this time we also have some research to back us up.
Sinch Mailjet recently released a report containing survey responses from email senders around the world. You can find all the results by downloading Email in an Evolving Economy. Here's a look at some key insights that highlight the importance of email and how to make the most of it in the face of economic uncertainty.
Email delivers high ROI during a recession
One of the most insightful findings from the survey concerned the many communication channels that brands and marketers have to work with. When asked Select the three channels that would provide the best return on investment (ROI) during a recession, Email marketing came out victorious.
Statistics from the “Email in a Developing Economy” report.
Of all survey participants, almost 42% voted in favor Email marketing as a channel that offers a good return when the economy runs into trouble. When examining responses exclusively from people who work in marketing, almost 60% chose email.
There are many reasons why you should use email:
- Email is a channel through which you can communicate directly with customers and prospects.
- You're marketing to subscribers who already know your brand.
- You don't have to pay to reach email subscribers because your list is yours.
- Email increases web traffic, lead nurturing strategies, sales and revenue.
Nearly 60% of marketers surveyed believe email marketing delivers high ROI – even during a global recession.
“Email in an Evolving Economy”
Digital advertising (41%) was less than one percentage point behind Email marketing on the list of channels with the best ROI. However, digital ads typically target new business, which may be harder to win in a recession. Studies also show that it is much easier to convert customers, and email is the perfect channel for this.
When asked which channels could fail in the event of a recession in 2023, the following responded: Digital advertising (26%) also came second on this list. It was just surpassed Traditional advertising (41.5%)
A recession doesn't mean cuts in email marketing
In the Mailjet survey Event marketing (23%) added traditional and digital ads to round out the three channels most likely to see cuts during a global recession in 2023. Email ended up much lower on the list. Less than 13% of respondents believe there will be cuts to email marketing in the next year.
When survey respondents were asked about plans to invest in email over the next 12 months, the results were even mixed 90% said they plan to either invest more in email or maintain their current investment in the channel.
Statistics from the “Email in a Developing Economy” report.
Less than 10% of respondents said they plan to limit email in 2023. That's probably because email is such an irreplaceable part of most brands' marketing strategies. Not to mention, many companies use email to communicate with customers on a daily basis.
The report “Email in an evolving economy” states that about 30% of senders plan to increase their email volume (number of messages) and cadence (frequency of sends) in the next year, while another 60% do not Expect changes. Furthermore, the survey found that this is the case Those with the least successful digital communication strategies were most likely to expect email traffic cuts next year.
90% of survey respondents plan to increase or maintain the time, resources, and budget spent on email marketing.
“Email in an Evolving Economy”
The three most important email practices during a recession
This makes email a powerful means of communication, even when the economy is struggling. But what makes email marketing so good?
Mailjet asked survey participants to select up to three email practices that would contribute to success in the coming year. Here are their top picks:
- personalization (39.1%)
- List construction (37.3%)
- List cleaning (29.1%)
Statistics from the “Email in a Developing Economy” report.
Newsletter/Content Distribution (29%) gets an honorable mention after falling just short List buildings in the third place.
Personalization is one of the best ways for marketers to improve a subscriber's inbox experience and a company's email strategy. When you send more personal, relevant campaigns to subscribers, they will get more value from your emails and become more engaged. As engagement increases, conversion rates and average order values (AOVs) also increase.
Personalization also contributes to improved customer loyalty. And that's what the survey showed Improving customer loyalty (41%) is one of the best options for email marketing during a recession.
List cleaning is one of the most important tasks related to email deliverability. Good list hygiene makes your email program more efficient while protecting your reputation with mailbox providers, keeping you safe from spam.
You can get help keeping your list clean with Mailgun Optimize's email validation. This feature allows you to verify email addresses in bulk or validate them in real time – at the time of signup.
41% of survey respondents say improving customer retention is one of the top three opportunities during a recession.
“Email in an Evolving Economy”
Are you investing in email?
If you're still not convinced that email can help your business survive and thrive in an economic downturn, you need to download the full report. See all the details for yourself. Head to Mailjet to get your free copy of Email in an evolving economy.
If email is already an important part of your marketing and communications strategy, then You must protect this investment.
One way to achieve this is to optimize each campaign through quality assurance (QA) checks built into the email production process. It's Email on Acid's mission to help you present your best email. We achieve this with a unique QA workflow that includes unlimited email previews on over 90 clients across devices.
Of course, even if emails render perfectly on every client, you still need to ensure your campaign reaches the inbox. This is where Mailgun Optimize comes into play. It is a complete suite to manage, monitor and improve email deliverability.
Make sure you have the email marketing tools and partners you need to survive a recession.
If you want to learn more about why you can't kill email, be sure to check out the Email's not Dead podcast from our friends at Sinch Mailgun. Mailgun has also published a special edition of this report, “Email in an evolving economy: The tech perspective,” focusing on responses from the IT and engineering community.
Author: Kasey Steinbrinck
Kasey Steinbrinck is Senior Content Marketing Manager for Sinch Email, which includes the Email on Acid, InboxReady, Mailgun and Mailjet brands. He understands how email and content work hand in hand to create a strong strategy. Kasey has also spent time working in traditional media, e-commerce marketing and for a digital agency.
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