Email marketing consistently rates well among advertisers who report their marketing mix. For SMBs specifically, several waves of Localogy’s Modern Commerce Monitor show strong affinity for email marketing. That includes the most recent results that are examined in our Benchmark Bytes series.
Specifically, among SMBs who buy additional services from their website provider, email marketing is the top upsell at 40 percent of SMBs. And in the Covid-era, 21 percent of SMBs who have pivoted or updated their online presence have done so with eMail marketing — the 3rd-highest result.
What makes email marketing such a big draw for SMBs (and larger businesses)? There are several factors but the biggest drivers include its low-tech orientation and ability to reach large opted-in audiences. There also tends to be “immediate gratification” in response and open-rate analytics.
But it’s not all good news. Recent data from SmarterHQ indicate that millennials aren’t as receptive to email marketing as other age groups. This could be concerning for the email marketing world, given that millennials (25-40) continue to gain influence and purchasing power as they phase into adulthood.
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Breaking down the data, Smarter HQ’s survey-based report, “Millennials: Where They Shop, How They Shop, Why It Matters,” reports that 74 percent of millennials feel they get too many marketing emails. Worse, 70 percent say that they’re getting too many irrelevant emails.
That last part is critical when it comes to Millennials — a generation known for emphasizing things that are genuine. They’re similarly averse to generalized marketing. That characterization plays out in these data, as Millennials who receive personalized marketing have a 28 percent higher brand loyalty.
That personalization aspect is so strong in fact that it outweighs privacy concerns. 70 percent of millennials in this study report that they’re comfortable with brands and retailers tracking their browsing and purchase history… if that’s what it takes to get a more personalized experience.
So how does this all translate to actionable tactics? SmarterHQ recommends email campaigns that feature sale notifications of previously-carted or browsed items; Personal recommendations and new product alerts based on behavioral history; and reminders for products left in a shopping cart.
Millennials also respond to things that are more along the lines of customer service and utility, as opposed to “marketing.” In other words, they appreciate emails that do things like alert them to hot items that are back in stock. And the sweet spot for email frequency is three times per month.
Of course, email is just one component of an increasingly multi-channel world. While they were at it, the folks at SmarterHQ asked millennials about other adjacent marketing sentiments — everything from banner ads to website design. We’ll leave you with a few of those highlights…
— 38% say websites are difficult to navigate.
— 60% report that there are too many irrelevant ads on the web.
— 6.5% report that they’re brand loyalists.
— 62% feel that shipping is too pricey in eCommerce orders
— Deviating from characterizations of digital savvy, 50% prefer to shop in-store.
— 22% prefer shopping on mobile devices, and 27% on laptops and desktops.
— Millennials double-task when shopping: 67% watch TV, 43% chat, 40% work and 23% travel.
For the report, SmarterHQ surveyed 1,000 millennials.