Navigating the turbulent economic headwinds of 2009 is a challenge that many businesses are surviving by reducing spend and channeling remaining budgets towards programs which measurably demonstrate a high return. The tricky piece is that many of the nascent channels such as social media and mobile are still very difficult to measure nor do they easily demonstrate that all important ROI. Executives are hesitant to spend in these channels which still hold a bit of mystery within the promise.
During times like this, what are businesses to do? Gambling with budgets is risky in the short term, but it’s the long term benefits that could really pay off in the end. Marketing has always been about having the right mix; the right mix of brand versus product messages and more importantly, the right balance within the channels. Coverage is key, but effective coverage is the golden key.
Email marketing, a traditional online marketing channel has been around a long time. And, it’s very measurable. In fact, the return of email has been steadfast even with the advent of social media and marketing. Over the past five years, one could have observed that businesses have been not only sacrificing print ads for online banners, but also that ad spend in general has suffered while email marketing spend has thrived.
The answer to ‘what to do’ can be found where all these channels converge. In these tough times businesses must look at where they can gain efficiencies and effectiveness by blending these channels. At the end of the day it’s not about one versus another. It’s really about how they can all complement each other.
The Direct Marketers Association estimates that marketers gain $45.06 in return on investment for every dollar they spend on e-mail campaigns. Also, 75% of marketers state that email marketing is a good investment in a downturn economy according to the Marketing Sherpa Benchmark 2009. Email marketing is fast, cost-effective and measurable. These are all things that are critical for marketers as the global economy endeavors to climb out of a serious recession.
Smart businesses that choose to focus on these newer trends need to get better about making it all work together. Many companies are starting already. Email for example is more powerful today than ever before; from driving people to websites that house widgets, to blogs that have timely and powerful loyalty-driving content, and to Facebook and Twitter pages where even more personalized information important to subscribers is fresh and uber-sharable. As all of these channels collide and blend, consumers are left with a million ways to parse information according to their preferences. Businesses enjoy unheard of exposure (good and yes, sometimes bad) and enormous means to get people to opt-in to their brand.
As we gain a foothold in 2009, those businesses that succeed will have not gone completely dark to save a little money in the short term. They will remain present, they will mix and leverage and blend to reap the long term benefits.
Yesmail is a recognized industry-leading provider of online marketing solutions. Built on a solid core of innovative technology and strategic services, Yesmail boasts a complete portfolio in email marketing solutions, data management, data intelligence, interactive applications and best practices consulting. Clients specializing in consumer products, retail, publishing, travel and finance are well served globally with specialized account teams in London, Canada and numerous locations throughout the United States. Contact Yesmail at sales@Yesmail.com or at +44 (0) 20 7382 8845.
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