Email marketing is not dead. In fact, email marketing remains a primary online marketing strategy for fund marketers, Registered Investment Advisors, and financial planners looking to nurture unknown leads into known clients.
According to Sikich, a Chicago-based accounting, advisory, and technology firm, 70% of digital marketers viewed email as the top strategy for Return on Investment (ROI), and 62% of Business to Business marketers planned to continue to increase the corporate spend for email marketing.
Some basic facts and figures from HubSpot on the ubiquity of emails:
91% of consumers check their emails every day
66% of consumers have made an online buy based on receiving an email
28% of the time…that’s how much time the average worker spends each day writing and answering emails
What Day Should You Send Your Email Campaigns?
Monday: Best to avoid. Mondays have shown to be less effective email send days than others. Open rates are relatively low. Why? Folks are focusing on catching up from the weekend and planning the rest of the week.
(According to MailChimp, an email distribution service, the “open rate” is a percentage that tells you how many successfully delivered campaigns were opened by subscribers. The “click through rate” is a percentage that tells you how many successfully delivered campaigns registered at least one click.)
Tuesday: Tuesday may be a super smart email send day, with the highest open rates of the week.
Wednesday: Also a good day for email marketing, with high opens rates and click through rates.
Thursday: Thursday has produced the best click through rate (CTR), generally because people get fewer emails on Thursday, so there’s less clutter
Friday: See Thursday.
Saturday: Saturday has historically been the worst day to send a business email, with the highest reported bounce rates and abuse reports.
Sunday: See Saturday.
What Time Should You Send Your Emails?
6am to noon: Emails sent at 6AM, says HubSpot, had the highest click-through rate. Best time frame to send email is between 6am and noon; and between 8pm and midnight.
Noon to 8pm: Don’t do it if you can avoid it. Your prospects are more likely to be busy with lunch, then workaday stuff, than to answer emails.
8pm to midnight: emails sent later in the evening have a slight increase in open rates compared with earlier in the day.
Another reason to time your timing of email distribution carefully: nearly 25% of all email opens occur within the first hour of delivery, according to GetResponse. (With another 10% during the second hours; and 6% during the third hour.) So if you send your spectacular email on a Saturday at, say 4pm, don’t expect as high an open rate as if you sent it at 6am on a Tuesday.