How Does Email Marketing Compare to Social Media for Profitability?
The bottom line in regards to our marketing efforts is how well they convert, that is, actually get us the actions we desire, whether that is opt-ins to a mailing list, direct sales, click or other responses…Throughout the years, email marketing has been a standard regarding this, delivering new customers and sales.
Lately as the interest has moved to the far more exciting and sexy world of social media marketing, email has sort of ended up being the unloved stepchild, and largely forgotten, at least so far as popular marketing methods go.
That is what we call, a HUGE mistake!
As decidedly unsexy and tiredĀ as some might have you think email marketing is, the data definitely prove otherwise! A extensive study by Custora shows just how profitable email marketing can still be! As opposed to being on the wane, this study of some 72 Million customers reveals that customer acquisition ratesĀ using email have actually quadrupled in the last four years, and what’s more is that these customers are about 10 times as valuable as those originating from either Facebook or Twitter. While the mantra has long been in social media not to overtly sell to your followers, it’s perhaps no real surprise that email leads show far more conversions than social media. There will likely come a time when social media begins to catch up, but as of this writing, that’s not anytime soon.
How to allocate your marketing efforts
Since email still results in an ROI greater than $40 for every $1 spent, while social media remains stuck well beneath $1, you’d be smart to use your assets accordingly. One excellent use of social media at this point in time is to funnel prospects to your email lists, by giving a taste of what your brand is about, and saving the selling for email in the future. The bottom line here is to not subscribe to all of the hype about email being a dead marketing channel. That could be an incredibly costly blunder!
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