By the end of 2019, the number of active email accounts worldwide is expected to hit 5.6 billion. With such a colossal number of people actively using email daily, it’s hardly surprising that 93% of B2B marketers use email to distribute content and that emails generate a staggering £30 for every £1 spent!
Given the 3,800% ROI emails generate, can you afford to ignore email marketing as a cost-effective, simple and productive way to circulate your message, brand, products and policies?
Email marketing specialists, Intelligent VC, examines why email marketing should be part of every insurance broker’s marketing strategy and why GDPR has had very few negative implications on email marketing.
High open and click through rates
Email marketing provides brokers with the chance to reach out to customers, existing and prospective, who have a genuine interest in the services and policies they offer.
In 2018 a report analysed the results of billions of emails sent across different industries. It found that the average number of unique open rates in the insurance industry was 31.4%, click-through rates was 4.6% and click-to-open rates were 13.2%. These results were significantly higher than the average email benchmarks found across all industries.
Low implementation costs
Unlike many other forms of advertising, such as sending out brochures, newspaper adverts or radio marketing, email marketing is comparatively inexpensive to implement and maintain. Emails can be personalised and tailored to individual recipients to help customers feel valued and appreciated.
This form of marketing is also extremely fast and efficient and can be sent out in a timely manner during periods that really matter to an individual broker, such as during holiday seasons.
Customers can receive important information without vital time being spent on printing and delivery or for more long-winded digital campaigns to start having an effect.
Equating to fantastic ROIs
Given the cost-effectiveness, speed of delivery and personalisation abilities of this form of marketing, it’s not surprising email campaigns offer brokers a fantastic ROI, a whopping £30 for every £1 spent!
Email marketing and GDPR: debunking the myths
In the run up to the EU’s General Data Protection Regulation (GDPR), which came into effect in May 2018, calamitous predictions surfaced about the impact the new stricter law would have on email marketing.
We are now well into the GDPR era and research shows that a significant majority of email marketers have not suffered the forecasted damage of using emails to achieve business goals.
One thing GDPR stipulates is that unengaged and inactive subscribers that bring little value to a business’s email program, are removed from emailing lists.
Whilst witnessing email lists decrease in size isn’t entirely desirable, removing unengaged and inactive subscribers from an email database improves the quality of the list.
In this sense, GDPR could be viewed as having a favourable impact on email marketing campaigns, as marketing messages are only now sent to genuinely interested parties, meaning open and click-through rates are likely to be higher, ultimately resulting in higher ROI.
In short, email marketing presents unique opportunities for brokers to develop long-term, solid relationships with customers, who will, consequently, come to you for all their insurance needs.
Intelligent VC offers a range of email marketing solutions and can manage and maintain a comprehensive, cost-effective email marketing campaign for you.
About Intelligent Visual Communication
Intelligent VC (IVC) is a full-service digital agency that provides a range of solutions covering design, content creation, marketing and strategy.
All marketing and advertising must be an accurate description of the product or service. It must be legal, decent, truthful, honest and socially responsible (not encouraging illegal, unsafe or anti-social behaviour). There are regulations which restrict what you can and cannot do. As well as the regulations, there are two advertising codes of practice which you need to follow to help you advertise legally. Before you embark upon any marketing, please ensure your communications are fully compliant.