7 Ways Email Marketing is Catapulting Your Competitors Ahead

Welcome to the Small Business big mindset Podcast, where we dive into tactical strategies to grow your business. And to make an impact on this world. A huge part of success is keeping your mindset and vision on track. So this is a major part of our process. And this podcast, let's do this. So I wanted to go over a few kind of metrics or statistics you'd say about email. Okay, so I'm always harping on growing your email list. And I know some people I think most people know emails important. Some people might think, Oh, well, social media is probably more, you know, the jam these days. But I did want to go over just a few stats to kind of get your mind thinking, if you're not leveraging email and your business right now, maybe you know, you need to you don't have a lot of time. Hopefully, these statistics kind of get you thinking about it more seriously. And if you're already are using email, congratulations, pat on the back to you. But this was just reinforced the importance of it in your in your strategy. So this is crazy. There's over 4 billion people using email globally this year. Okay. That's an 11% increase since just a few years ago, 2017. And they're forecasting that excuse me, they're forecasting, that it will be almost 4.5 billion in 2024. That's a huge audience that are that are using email for you who are a huge audience for your business. Okay, so email opens your eyes, Okay, great, I'm sending these emails out, are they actually getting to people. So about 20% of marketing emails are opened within the first hour. So that's actually a pretty big percentage. So think about it and look at this more than 50% of email opens happened within six hours of being delivered. So it's pretty immediate, right? You send something out, it's pretty immediate gratification, you're gonna see and you can actually track it right and see, the percentage of opens, who's opening it, that sort of thing, because then you can take that data, and then you can retarget, you can target and segment those people who have opened your emails, knowing, okay, they open this or they're interested in that they're probably be interested in this content, or the sale that I'm having, as well. So that's it, you have so much data, when you go with email, and the fact that within the first few hours, the vast majority of people are opening and seeing your content, which is not the case. It's social media. Okay, and then the platform. So almost 40% of emails were open on mobile, desktop, look at that. Not even like just over 19%, what a huge drop. So people are on the go. And so email is a huge factor in reaching people. Everyone's on their phones, and look at this, almost 40% of emails in 2020 are opened via mobile devices. So email is where people are, okay? That's a huge factor. Your ROI. This is huge. You guys, and I meant to get a source for the$44 data. But email marketing is an average of a $35 return on every dollar spent on email marketing. Come on you guys. And then I did see some reports of return to $44. And I apologize, I meant to get that source there. But being really $35 $44 for every dollar spent is the return that you get on email marketing. That's, that's huge. Okay, and then conversion. So 59% of respondents say marketing emails influence their purchase decisions. It's almost 60% of people, and I'm the same, I get an email and I'm more active by 80% of business professionals believe that email marketing increases customer retention, right? Zero, you're not only getting conversions of people who are buying, but you're retaining customers as well, because it's an open line of communication between you and your customer. Whether or not you're b2b or b2c. And it's something that you're it's, it's consistent. And, you know, it's it's just a great way to nurture that that relationship. Okay, so if you're an e commerce and here's a few stats for you. So about 42% of Americans subscribe to email lists, savings and discounts are a big driver on the same like, I want to know if someone's having a sale, or have free shipping and that sort of thing. And about one in three email subscribers in the US have bought something from the brands they subscribe to. I mean, come on, can we get a raise of hands here? I've definitely have like, it's a brand that I that I recognize. I know that even if I don't recognize it, honestly, because sometimes I just, I'll see things and I'll sign up for their email list and then I get to know them as I start seeing them consistently in my inbox, and I'll click on them and see what they have going. I'm so I definitely have bought things that I've seen come through my email box. Okay, social media. We all know, engagement in social media is pretty low and it's hard to get, right. So just over half a percent, okay, it's an engagement rate and social media. But look at this email reaches about 85% of the people you send it to, okay, and an open rate of almost 23%. So here's the thing. It's like social media, it's you don't know who's gonna see what such a small percentage unfortunately, of those who follow you see your content. And it's, as you can see, with this a point five 8% engagement, it's very, very low. And so with email, yes, you are competing against other other emails in hitting that person's inbox, but it's a much lower percentage competitive percentage, and you are dealing with on social media, and it's more of an intimate relationship, right. So whereas like social media is like a big party, email is like grabbing a cup of coffee with someone, you know, you have that intimate relationship factor there. So that's pretty huge. So I just wanted to go through some of this with you guys. Just so that you realize how big email can be for your business. Again, if you're already leveraging a great if you know, it's kind of on your list, then hopefully, this will make the case to make it number one on your list, or at least improve its placement in your air strategy, because it really can make a huge impact on your business. If you have any questions about getting an email started, consistent. Email started with your with your business, just send me a note. I'm happy to help you. Pick a platform happy to help you figure out what to say to your audience. I want to know that too. What are you? What are your challenges? If you haven't started an email? list? Or if you haven't started communicating consistently with those on your email list. I'm curious as to why like what challenges are you having? What fears Do you have or concerns what's keeping you from getting that going? because hopefully I can help with those or answer any questions to help get you started. I hope that it's a great weather where you are. It's currently in the 70s now in Texas, I don't know. And we will see you guys live again on Thursday. All right, well see you later. Thanks for tuning in to the Small Business big mindset podcast. To keep the fun going. Check out our Facebook group start and scale an online business For even more free trainings and resources from fellow entrepreneurs. If you haven't already, head on over to Muscle Creative calm and click subscribe to join our email list for weekly updates. And if you've enjoyed this podcast episode, check us out on your favorite podcast platform to follow us and give us a review. As always be authentic bringing insane amount of value and keep crushing it