Changing Email Marketing Scenarios And The Rising Importance of Database Sales
Learn about challenges in email marketing and the increasing demand in database management for successful and email efficient marketing campaigns.
"In the ever-changing world of digital marketing it is essential to make sure that everyone is learning all the time." – Clodagh Higgings, Digital Agency Couch at Growit Group AS
Key takeaways:-
- Email marketing is one of the best channels for maximizing sales, irrespective of location, size, or industry sector. However, it possesses many challenges and is not always profitable.
- Data management is a great way to combat email marketing practices. It manages the organization's database and provides highly actionable insights to marketers through processes like data cleansing, data validation, and data verification.
- Data management is vital for organizations that rely on email marketing to maximize sales and profitability. It gives marketers access to accurate, relevant, and real-time contact and company data.
- B2B data service providers like DataCaptive, EsalesClub, CampaignLake, TechdataPark, Info global, etc. provide various data-driven marketing services like marketing automation, lead generation services, ABM campaigns, and many more to offer a seamless marketing experience.
Email marketing is changing course every single day. As a marketer, you might've been engaged in a conversation revolving around its credibility as a profitable marketing channel. It has been a common concern, but this article will clarify why email marketing is here to stay. Here, we have studied the changing face of email marketing with a particular focus on database ,anagement.
Bonus Tip: How to use a prospect database for multi-channel marketing
Emails have been bridging the communication gap for decades. As the record goes, the first email was sent in 1971 by Roy Tomlinson. Soon after, in 1972, Larry Roberts set up the first email management system wherein he created an email database that let users list, select, forward, and respond to email messages.
Fast forward to 2019; a study revealed that a whopping 93% of B2B digital marketers practice email marketing. Research by Adobe estimated that millennials spend 6.4 hours (approx.) a day reading their emails. It's not just them though; most people check their inbox daily and everywhere: while working out, eating, and even using the bathroom.
Email marketing has been consistently cited as one of the marketing channels that delivers the highest ROI. Find out the benefits that make email marketing a smart solution for marketers to make bigger sales-
- An email is a reliable form of communication between a brand and its customers.
- It’s a cost-effective solution to reach customers.
- It helps brands to target and nurture more leads through personalized content.
- Emails build trust and lead to brand credibility.
- Emails also improve brand recognition.
- Email campaign help in both customer acquisition and retention.
- Emails improve sales and grow your business 12X (approx.).
The Changing Face of Email Marketing
The same study done by Adobe further stated that email marketing exhausts 39% of the total marketing budget, receiving only 9% of the total yearly customers.
Such studies raise some pertinent questions - Has email marketing tactics changed? What are the most effective ways of email marketing for maximum customer acquisition and retention? How to allocate the email marketing budget for maximum results?
Let’s read on.
Challenges in Email Marketing
Marketers in 2020 want their marketed emails to bring maximum returns, but things are not as rosy as it seems. There’s an array of things holding them back.
These are some of the biggest challenge that email marketing faces:-
- Targeting an irresponsive, stale, or irrelevant audience
- Unable to locate and target new customers
- Failure in sending emails to a broader audience
- Not knowing the right frequency of sending drip campaigns
- Spammed commercial emails
- Undelivered and bounced back emails
- Exhausting budget but no relevant results
However, 40% of B2B marketers still emphasize that email newsletters are most critical to their content marketing success despite all these issues. Thus, one must not ignore these statistics and develop a strong email marketing strategy for the desired output. This is where database management comes into action.
Database Management and Email Marketing
Database management is a simple, easy, and effective method used by companies to collect, organize, store, and retrieve actionable customer insight for maximizing sales. It is estimated that over 62% of B2B organizations depend upon marketing and prospect data, which is approximately 40% inaccurate. (Source- DataCaptive) By investing in a database that’s accurate and actionable, marketers can stay away from incurring huge losses.
The graphs above (Source- Superoffice.com) show how a personalized email address can impact its response rate.
Fact- Did you know that the cost of poor data management can cost you $20 million/year?
How Does Data Management Work?
Critical business intelligence is the key to compete in any data-driven industry. By constructing and maintaining a framework for the ingesting, storing, mining, and integration of database into the business, data management has become the spine that connects all information cycle segments.
Data management track changes and updates it accordingly to get the most out of its insights and helps an organization get the most benefit. Many big data management solutions like DataCaptive, ReachStream, EsalesClub, InfoGlobal, Spanglobal, etc. offer an array of data-driven marketing services for companies to scale their growth.
Data enrichment is an essential component of data management. It includes processes like data cleansing, data verification, data validation, and data appending, enhancing a brand's outreach and customer experience significantly. Data enrichment accentuates the dataset's quality with relevant insights and ensures maximum returns from the marketing and sales efforts. Enriched data provides more relevant business and customer insights, thus offering more scope for improvement.
Benefits of Data Management
Data management powers the marketing processes for every organization, irrespective of industry sector, size, or location. With easy access to more data and analytics comes the opportunity to seize more sales, solve more problems, and build a better brand.
Source - Cynosure
The benefits of data management, B2B contacts and company databases in reaching out to customers can be attributed as follows:-
> Locate new targets
> Nurture targets better
- It leads to smart advertising that targets customers according to their interests and interactions.
- An accurate database facilitates account-based marketing, which helps brands successfully target high-value and best-fit accounts with personalized messages.
- Build an inter-personal relationship through ABM Campaigns to find potential prospects that improve business relations and maintain a loyal customer base.
> Improved marketing efficiency
- It enables the sales and marketing team access to actionable insights to better deploy marketing resources and for the maximum output.
- It gives businesses an idea about the amount of relevant data, thus deciding the marketing budget and plan ROI accordingly.
- It paints a big-picture for the managers to look at business, which helps with both perspective and planning.
- Database management provides segment information that enables marketers to better returns.
> Build customer loyalty and brand image
- It helps organizations identify and resolve internal pain points and deliver a better customer experience.
- Reduced operating expenses through the utilization of only the necessary storage and computer power required for optimal performance.
Database marketing has made it easier for businesses to understand their client base better, allowing them to analyze sales performance for better efficiency quickly. Let us know your thoughts about database marketing and the impact it has on your email marketing campaigns.