Report: Australian Email Marketing BenchmarksBy Bella Lovric
If you’re not using email marketing, or if you are and you’re not doing it well, you might as well be gifting market share to your competitors.
It’s been called everything from an ‘untapped goldmine for business growth’ to marketing’s best-kept-secret’ with research consistently showing that it has the best ROI of any online marketing strategy.
Still, it remains of the most misunderstood marketing tools in Australia.
As email marketing specialists, we understand the importance of email, and it’s an integral role within every businesses’ marketing mix as both a relationship and profit building tool.
Thus, we decided to create an email benchmark report to analyse the current and future state of email marketing designed uniquely for Australian marketers.
In partnership with SmartCompany, an online media publication, we surveyed over 400 Australian businesses of various sizes and across multiple industries on their use of email marketing, including email platforms, the frequency of emails, levels of automation and mobile optimisation.
From open rates to conversion rates, this inaugural 2018 Australian Email Benchmark Report breaks down all the metrics that matter to track and measure your overall email marketing performance against your competition.
How does your email marketing performance stack up?
Do you know how well you’re doing at email marketing or compared to other Australian businesses? Here’s the answer:
On average, businesses achieved a 20.89% open rate, 6.46% click rate and received $22.78 ROI for every $1 spent on email.
These businesses also said that their open, click rates and ROI had remained stable over the past year.
How much is your business investing in email?
Email is getting harder to do well, and companies are still not investing in email marketing half as much as they should be.
Our results found that companies who invested 20% or more of their marketing budget on email are eight times more likely to see sales boosted by 50% or more.
Is your business considering decreasing its email marketing spend? If so, you should look at reconsidering as only 1.21% of the businesses we surveyed wanted to invest less in their email marketing.
If anything, 24% of the businesses we surveyed wanted to increase their email marketing spend, or at the very least maintain it (44%).
The Australian Email Benchmark Report covers 8 key performance indicators that cover email frequency, platform choice, mobile optimisation, automation, personalisation, optimisation, outsourcing and the importance of being able to calculate your ROI.
We’ve analysed the feedback from the businesses surveyed and have provided key insights and tips to assist with your email marketing strategy and goals for this year and beyond.
Other key findings in the report include:
- Companies who invested 20% or more of their marketing budget on email were 8x more likely to see sales boosted by 50%.
- A massive 59% of businesses using entry-level platforms don’t optimise their campaigns, as opposed to only 12% of business using top-tier platforms.
- Businesses that send 10+ campaigns per month have the highest ROI at $31.87 for every $1 spent.
- 84% of businesses could not measure their ROI of their email channel.
Find out how your email marketing results benchmark against 400 other Australian businesses and discover the current and future state of email marketing.