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Despite being so well-established, email marketing continues to attract more investment. Global spending on email software is expected to climb from $4.5 billion in 2020 to $14.9 billion in 2027, according to Global Industry Analysts’ predictions. That represents a compound annual growth rate of 13.7% over that period.
Email growth continues to chug along because it delivers consistent and impressive results. For every dollar marketers spend on email marketing, they generate $36 in revenue, a Litmus survey of 2,000 email marketers found in 2020. (The company didn’t have ROI numbers for 2021 due to the uniqueness of the year.)
Depending on what industry you’re in, your company’s ROI could be even higher. Agencies in marketing, PR and advertising see a return of $42 for every $1 they spend on email, and businesses in retail, e-commerce and consumer goods are rewarded with $45 in revenue for each dollar spent.
The centrality of data and the need for updated technology
Email may have been around since the dawn of the internet, but the space doesn’t stand still. Email marketing, and the technology that enables it, have evolved to deal with challenges like spam and deliverability and also to take advantage of opportunities, such as the ever-increasing sophistication of data usage for hyper-personalization.
When MarTech surveyed marketers for the 2021 MarTech Replacement Survey, they said technologies for email distribution and for marketing automation (a chief component of which is email), were the two top martech categories they had replaced over the
Read more here: https://martech.org/what-is-email-marketing-and-how-are-platforms-helping-brands-succeed/