In a time when many brands are tightening their marketing budgets due to economic uncertainties, email marketing remains a resilient and cost-effective channel. It continues to deliver high returns on investment (ROI), facilitates personalized communication, and offers immediate, measurable outcomes.
However, with the increasing reliance on email marketing, consumers are inundated with hundreds of emails daily, prompting brands to find ways to make their messages stand out. While click-bait tactics may have worked in the past, today's consumers expect transparency and authenticity from brands.
This is where email personalization becomes a game-changer. Personalized emails allow brands to tailor their messages to individual consumers, addressing their specific interests and needs. Studies, like one conducted by MoEngage, demonstrate the remarkable effectiveness of email personalization. It can lead to conversion rate increases of up to 7.7 times, a 10.9 times boost in click-to-open rates (CTOR), and an impressive reduction of up to 88% in unsubscribe rates.
These benefits extend across various industries, from retail and e-commerce to banking and fintech, travel and hospitality, media, and entertainment. Moreover, customer journey-based personalization can elevate CTOR by approximately 10.9 times and open rates by 7.2 times.
Traditional personalization methods, such as demographic or first-name-based approaches, are no longer as impactful. Behavior-based personalization and stage-of-buyer-journey personalization have proven to be more effective.
Implementing these advanced personalization strategies requires a deep understanding of customers and access to a reliable customer engagement tool. According to Raviteja Dodda, CEO of MoEngage, such tools enable brands to create authentic and human connections with customers, fostering meaningful relationships and driving business growth.