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Jay BachmayerSeptember, 12, 20231 min read

Email Marketing: In or out for financial institutions?

When it comes to email marketing, is it out with the old and in with the new? Research shows that email marketing continues to be the backbone of success in reaching the desired audiences. Let’s break down why email, after all this time, might be more ahead than you think.

Email is Cost-effective

Unlike traditional advertising, which can be more difficult to measure, email marketing allows you to reach a broad audience at a relatively low cost. Constant Contact states that, “79% of marketers place email marketing in their top 3 most effective channels for marketing.” That, in 2023, brands made $36 for every U.S. dollar they spent on email marketing. This makes email marketing easily one of the most cost-effective marketing channels available.

Email is Reliable and Guarantees Delivery

Email marketing is also a surefire way to guarantee your audience will receive your message. In fact, according to data from Kinsta, 87% of B2B marketers use email as their distribution channel. That’s less than two percent of social media platforms and one percent more than using the company blog or website. Email is also a trustworthy and consistent resource thanks to popular marketing platforms like HubSpot or Mailchimp.

Email Creates Easy Segmentation and Customization

Email marketing is great for segmenting your audience types. You can send your segments different promotions based on their interests, behaviors or other criteria. Segmentation allows you to define member personas and create custom content to help convert them into customers/members. It will also help increase your share of wallet of your current customer/member base. You will also be able to identify which customers/members are your most loyal and send them special offers to nurture loyalty and boost revenue.

Effective Engagement Through Email

Email has been around since 1971, and it’s still one of the strongest, most efficient ways to engage with your target audiences. It’s reliable, cheap and it can drive engagement, conversions and loyalty. It is an essential part of a financial brand’s multichannel marketing approach.

Ready to start the next draft of your marketing strategy? At Epicosity, we’ll send you to the next level. Discover more resourceful marketing tips for your bank and meet our team of experts who will help you unlock your brand’s full potential when you visit the Epicosity Vault.

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Jay Bachmayer

Jay specializes in Finance marketing strategies. He works hand in hand with bank and credit union marketing teams to set goals, launch campaigns, and analyze results. With years of digital, content, and general marketing experience, Jay dedicates himself to connecting modern marketing strategies to financial institutions.