In a recently released report on the performance of email marketing in the first quarter of this year issued by Experian, some very interesting statistics came to light which demonstrate that email marketing’s power continues undiminished in its third decade and if anything, the massive move to mobile has made it even more effective and efficient. It can confidently be stated that according to the statistics in this report, email marketing is experiencing a boom!
Most email marketing statistics rose significantly in a quarter
The statistics show that email marketing is exceeding the metric standards established just a quarter earlier by a remarkable percentage. The jump in the vast majority of email metrics between the fourth quarter of 2013 and the first quarter of 2014 clearly shows that as mobile takes an ever greater share of the consumer’s attention, email is growing by leaps and bounds right alongside.
Total click rates rose by over 10% in a quarter
Total open rate jumped from 24% to 26.6%, an increase of 6.2%. Unique open rates leaped even higher, increasing from 16.4% to 17.7% which works out to an addition of 7.6%. Click to open went from 12.5% to 12.7%, increasing 1.6%, but the total click rate showed the greatest rise of any other email marketing metric statistic with an impressive increase of 10.2% going from 2.9% to 3.2%. Next in line with the significant increases in percentages is the unique click rate which showed a boost of 9.4% from 2.1% to 2.3%. The revenue per email has also been noted to have a strong increase of 6.6%, going from 10 cents to 11 cents.
Average order dollars grew at an annual rate of 40%
One of the elements which will interest email marketers the most is the fact that the average order has increased by an extremely satisfying and lucrative 9.3%! With this figure standing at $196.02 in the first quarter of this year over the $179.33 of the previous quarter, it is almost unbelievable that it is growing at nearly a 40% rate expressed annually! Is it possible for a single marketing medium to provide such an unparalleled boost in order dollars? It certainly is if you’re discussing email marketing!
A number of standout statistics by industry
Some of the other highlights in the Experian study reflect great news for various industry sectors. For example, publishers enjoyed a truly astounding 25% lower bounce rate between Q4 2013 and Q1 2014, while the total open rate of media & entertainment brands skyrocketed 24.8%. The revenue per email for consumer products and services brands increased by 15.8%, the unsubscribe rate for business products and services brands dropped by 16.5%, and the average order amount for catalogers rose a stunning 38.8%!
63% of multi-channel retail emails are opened on mobiles
There is no doubt that we are now firmly in the age of mobile email marketing and the statistics in this report prove it. When we analyze the percentage of opens by industry, we find that 63% of all emails sent by multi-channel retailers are opened on mobiles, followed by 58% of those sent by consumer products and services, then a tie at 54% between catalogers and media & entertainment brands.
Abandoned carts emails are big money makers
The report shows that revenue per each email in a series dedicated to reminding the customer that they left an abandoned cart is several times greater than that of conventional promotional mailings, making it an extremely lucrative prospect for e-commerce marketers. When sending two emails in an abandoned cart series, brands found that they can receive 17.6 times greater return than a conventional promotional email in the first mailing and an even more remarkable 19 times greater return in the second email!
In the hands of a savvy and experienced online marketer, email can be a boost to any company’s bottom line which can dwarf the returns experienced from just about any other promotional medium on the planet. As your consumers move to mobile, they are taking email with them to a greater degree than ever before because they trust email as a promotional tool!
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