Impact of COVID-19 on Email Marketing Market
The COVID-19 virus is increasingly spreading all across the globe and is proving to be a significant threat to public health, as well as the global economy. Also, the impact of the COVID-19 outbreak is expected to be severe and prolonged. Various brands and marketing experts across the world are assessing their strategies and marketing budgets for the next half of 2020. Also, all businesses are struggling to manage their operations and communications at minimal cost to sustain during this economic instability. Various enterprises are now shifting to inorganic/paid marketing strategies such as email marketing, along with the best security practices. It is the most popular option for digital marketing at this moment as it is a low-cost, high-return option that will help in communicating with clients and attracting new customers. The content of the email in the email marketing campaign also plays a crucial role at present. It must be sensitive and positive but still aware of the present situation due to the global pandemic. It should satisfy the enterprises’ requirements and reach the right target audience. In a recent survey conducted by MRFR, nearly 60% of participants stated that email marketing does impact their purchase decisions. Thus, it is still one of the most effective, long-term methods of marketing communication.
As per MRFR analysis, the email opening rates have increased in the 1st quarter of 2020 since the consumers have started staying at home. In the retail sector, the email opening rates have gone up by 25% week-on-week. Also, email opening rates are increasing by 5-10% daily, as most of the people are stuck at home and are online. Email opening and interactions have increased more on desktop computers as compared to mobile phones. This is mainly because people are working from home on their laptops and desktops. The ad-spending and marketing activities through channels such as digital displays, print, and radio have decreased by nearly 40% during March-April 2020. Even though the spending on email marketing has reduced, the effectiveness of email marketing is expected to attract a higher number of enterprises in the 2nd half of 2020, and the y-o-y growth rate of the email marketing market is expected to increase in the year 2020-2021.