According to the below chart from MarketingSherpa's latest Email Marketing Benchmark Guide, it's time to invest in email marketing rather than cut costs:
clipped from www.marketingsherpa.com
Marketers Say Email a Good Investment During Downturn
Those that see the effectiveness of their email programs diminishing are much more likely to have short-sighted organizational attitudes toward the tactic. Nearly 50% of them consider email to be "free" or nearly so, compared to only one quarter of those who see email's impact as increasing.
Organizations with investment-oriented views of email reap the rewards. They have higher open, click and conversion rates. In addition, they are much more likely to have a metrics-based grasp of how email works for them. Those with the "email is free" view, on the other hand, are more likely to fall into the group that doesn't track conversion.
The key takeaway:
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