How to keep up with your
email marketing efforts amidst the global downturn

1. With the global economy experiencing a deeper slowdown, how do you think the email marketing ecosystem will shape up in the next few months?

There are a couple different options, but one of the best would be to increase automation and machine learning. This will increase personalizing in a channel that does not cost a lot or require a lot of budget while also being super targeted with the ability to pick out those ready to purchase and warm those that are not.

2. Do you think there will be any shift as such when using marketing channels - maybe from more expensive ones like performance marketing to email, which delivers a better ROI?

As mentioned in the first question, its important to keep owned channels running and making sure to include this channel in your marketing campaigns. I do know many companies are seeing a decrease in marketing budgets and will benefit from keeping owned channels active. I do think the two channels can be in tandem but companies need to be smart in following up along the customer journey after you bring leads from a more expensive channel to your website. Email can follow up utilizing source codes or web data to personalize and pick up where paid channels left off.

3. Are you planning to tweak your goals and KPIs considering the significant economic slowdown? How so?

Our goals will be tweaked when it comes to any CRM activity connected to a budget as we are in a similar position with smaller budgets this year. We are still investing in our CRM technology and looking to add more channels this year.

4. When it comes to use of ESPs and CRMs for email marketing during such times, is there anything specific you are looking for in terms of support - customized solutions or customized pricing?

We are always looking to optimize support to price, we have just recently gone through a long contract negotiation but we have landed at a place where we know we will use what we are paying for and not adding on any wishlist items.

1. With the global economy experiencing a deeper slowdown, how do you think the email marketing ecosystem will shape up in the next few months?

My observation... In similar fashion to the 2008-2012 post-crash economic slump, both companies and consumers are looking to get more for less and email marketing is often the go-to channel for companies trying to maximize the revenues/margins from their existing customer bases.

From what I have seen and experienced, email marketing and its associated ecosystem will be heavily or possibly solely focused on offers, promotions, rewards and sales. The challenge once again [like post 2008 credit crunch) for everyone will be cutting through the noise and in particular ensuring email marketers don't contribute to an explosion of mailbox spam. Personally, I'm putting more emphasis on email quality ahead of quantity and relying more heavily on tools that allow us to try and avoid ending up in spam folders, driving unsubscribes or having our IP addresses blacklisted as this is the worst time to restrict your customer reach in such an important channel.

2. Do you think there will be any shift as such, when using marketing channels - maybe from more expensive ones like performance marketing to email, which delivers a better ROI?

100% and as per my previous comment we saw this post 2008 crash and will see it again until a channel/tactic emerges that has the reach, return and costs of email.

3. Are you planning to tweak your goals and KPIs considering the significant economic slowdown? How so?

Yes, last year was the year of the customer meaning we preserved customer volumes ahead of revenues and looked at customer churn and LTV as our core KPIs. This year has different commercial pressures so we're calling it the year of revenue and will be prioritising AUV and total sales as our KPIs even if that means accepting a level of churn as a result. I am sure we're not alone in that approach in what is going to be a tough year commercially for most markets/sectors.

4. When it comes to use of ESPs and CRMs for email marketing during such times, is there anything specific you are looking for in terms of support - customized solutions or customized pricing?

We're not going to be looking for new suppliers luckily this year but we will be pushing our current suppliers to help us review how we're currently using our solutions and whether or not we need to change that so as to meet our new revenue-focused KPIs.

1. With the global economy experiencing a deeper slowdown, how do you think the email marketing ecosystem will shape up in the next few months?

I don't think that the economic slowdown will drastically alter the email marketing landcaspe. The focus on effective communication has always been at the heart of the industry, regardless of whether the economy is thriving or struggling. However, this downturn could serve as a wake-up call for some companies to recognize the value of email marketing as an essential and cost-effective tool for reaching their target audience.

While it's true that businesses might reduce spending on paid channels, I don't necessarily foresee this translating into a surge of new platforms or innovations within the email marketing ecosystem. Companies grappling with budget constraints are more likely to cut costs across the board rather than reallocating funds to different channel.

On the other hand, this economic downturn could prompt some organizations to prioritize customer retention over acquisition, because, as we all know, retaining existing customers is more cost-effective than pursuing new ones. Admittedly, companies should have already been focusing on customer retention before facing such challenges, but better late than never.

From a subscriber's perspective, the growing reliance on email marketing might lead to email overload, increasing the risk of fatigue and reduced engagement rates. Consequently, businesses must adopt a more strategic approach, harnessing data-driven insights to craft well-timed, targeted, and contextually relevant campaigns. In this scenario, advanced segmentation, automation, and behavioral triggers become crucial for standing out in the inbox and maintaining customer interest.

2. Do you think there will be any shift as such when using marketing channels - maybe from more expensive ones like performance marketing to email, which delivers a better ROI?

I agree that the economic slowdown is compelling companies to reassess their marketing strategies. The ongoing costs associated with performance marketing may indeed become unsustainable during these challenging times. However, as previously mentioned, companies facing significant revenue struggles might not reallocate budgets to other channels.

In the world of email marketing, the relationship between increased investment and reaching a larger audience is not as linear as in performance marketing. Calculating ROI on a specific investment is less common in the email marketing world, as opposed to performance marketing, where ROAS and ROI are frequently used as KPIs.

For email marketing professionals, we must adopt a more strategic approach and consider how specific initiatives can impact key metrics that ultimately tie back to revenue generation. For instance, investing in tactics that increase email open rates can subsequently lead to more clicks, more website sessions, and ultimately, more conversions. By leveraging established benchmarks for on-site conversion rates and average order values (AOVs), we can forecast the potential revenue impact of such initiatives.

3. Are you planning to tweak your goals and KPIs considering the significant economic slowdown? How so?

My core focus remains unchanged despite the economic slowdown. We continue to prioritize personalization, automation, and customer retention. However, it is crucial to consider macro-economic data and keep in touch with industry peers in order to better understand the broader context and its impact on our campaigns' performance.

4. When it comes to use of ESPs and CRMs for email marketing during such times, is there anything specific you are looking for in terms of support - customized solutions or customized pricing?

Customized solutions and competitive pricing are always welcome. However, it is crucial to remember that a company's unique business use cases should drive the selection of technology, rather than simply choosing a platform based on popularity or features without fully considering their specific objectives.

Companies must first establish a clear understanding of what they aim to achieve with their email marketing efforts before deciding on an ESP or CRM. In many cases, replatforming is not the only means to deliver a great customer experience, and existing platforms can be optimized to meet their needs.

One critical aspect of support that cannot be overstated is exceptional customer service. Email marketing teams are often small, working under tight deadlines, and in need of additional assistance to maximize the potential of their chosen platform. Access to knowledgeable and responsive support can significantly enhance their ability to drive innovation and provide an improved customer experience.

1. With the global economy experiencing a deeper slowdown, how do you think the email marketing ecosystem will shape up in the next few months?

Email will play an important role in brands maintaining and growing their relationships with their customers. I think there will be ebbs and flows during this time with engagement and conversion but brands should make their efforts to build up email programs during this time to optimize engagement at key points throughout the customer lifecycle. Email should play key role in supporting the efforts by integrating with their paid media counterparts. It's now more important than ever to have a fully integrated approach across Email, SMS, App Push, and all of Paid Media.

2. Do you think there will be any shift as such when using marketing channels - maybe from more expensive ones like performance marketing to email, which delivers a better ROI?

Yes, I think there will be a strong opportunity to invest more in SMS and if applicable, App Push notifications. We are seeing the best results when brands really leverage their first party data as well as loyalty data across multiple marketing channels. It's really important to have a balanced message especially across Email & SMS - your customers will appreciate it but also expect it.

3. Are you planning to tweak your goals and KPIs considering the significant economic slowdown? How so?

No, we're keeping our goals set and will adjust if needed.

4. When it comes to use of ESPs and CRMs for email marketing during such times, is there anything specific you are looking for in terms of support - customized solutions or customized pricing?

Yes, integrated cross-channels capabilities is key.

1. With the global economy experiencing a deeper slowdown, how do you think the email marketing ecosystem will shape up in the next few months?

Global economy is slowing down, can’t deny that. But not all countries and industries will face the same consequences of such events. I believe such a promising and partially innovative economy as India’s will not struggle a lot for maintaining its present growth level. As for the email marketing industry as service providers, it’s hard to tell. Big tech companies are laying off a large number of specialists, who may gather up and create email marketing (or CRM) agencies with full-cycle services. It’s a good scenario for the global economy, but agencies that form now may face lack of payable clients and, therefore, a decrease in revenue.

2. Do you think there will be any shift as such when using marketing channels - maybe from more expensive ones like performance marketing to email, which delivers a better ROI?

There’re industries which rely deeply on performance marketing and companies in such industries will definitely not change their approach completely. But they may look more into retention and reactivation of current users rather than acquiring new ones. Speaking about channels, the old formula works perfectly - cost effectiveness is a champion here. I mean email is the cheapest channel of direct communication with a client. Even considering the most sophisticated toolbox a company may use: multiple ESPs, reputation tracking, template builder, template tester, etc. Also I think companies may start to rely on email marketing even more in terms of subscribers gathering and working with them. No other communication channel has (and in the nearest future will have) such ROI. Maybe it’s a perfect time to present lower-priced plans for email marketing toolbox or create cheaper service with essential features.

3. Are you planning to tweak your goals and KPIs considering the significant economic slowdown? How so?

No plans to tweak KPIs or goals as I work in an internal CRM marketing team. So basically we support the company's main goal with our second-level goals and internal performance metrics.

4. When it comes to use of ESPs and CRMs for email marketing during such times, is there anything specific you are looking for in terms of support - customized solutions or customized pricing?

I always search for flexible solutions with good post-purchase support and possibilities of customization. I value good UI/UX, vast settings for email authentication, easy-to-use API for integration into other tools.

1. With the global economy experiencing a deeper slowdown, how do you think the email marketing ecosystem will shape up in the next few months?

It’s difficult to predict exactly how the email marketing ecosystem will shape up in the next few months, as it will depend on a variety of factors, such as the duration and severity of the economic slowdown, changes in consumer behavior, and shifts in the competitive landscape.

However, there are some possible trends and developments that may shape the email marketing ecosystem in the next few months:

Increased focus on ROI: As businesses face budget constraints and a tighter economic environment, they may shift their focus towards email marketing campaigns that generate a strong ROI, such as campaigns focused on customer retention, upselling, and cross-selling.

Increased competition: As businesses turn to email marketing as a cost-effective way to communicate with customers and generate revenue, the competition for inbox space and attention may increase, making it more challenging for businesses to stand out and engage with their audience.

Emphasis on personalization and relevance: To break through the clutter and engage with customers, businesses may place a greater emphasis on personalization and relevance in their email marketing campaigns. This may involve using data-driven insights to tailor messaging and content to specific segments of the audience, as well as incorporating dynamic content and interactive features.

Continued focus on compliance: As privacy regulations become increasingly stringent, businesses will need to continue to focus on compliance with email marketing regulations, such as GDPR and CCPA, to avoid penalties and maintain the trust of their audience.

Investment in technology and automation: To streamline their email marketing operations and improve efficiency, businesses may invest in technology and automation tools that allow them to automate campaign creation, delivery, and reporting, as well as integrate their email marketing efforts with other marketing channels. Although this is a tough one. Will you get the budget signed off?

Overall, the email marketing ecosystem is likely to remain a critical component of the marketing mix in the coming months, as businesses seek cost-effective and measurable ways to engage with their customers and drive revenue. By focusing on strategies that prioritize personalization, relevance, and compliance, businesses can position themselves for success in an increasingly competitive and challenging environment.

2. Do you think there will be any shift as such when using marketing channels - maybe from more expensive ones like performance marketing to email, which delivers a better ROI?

If only the answer were that simple.

During a downturn in the economic climate, marketers should focus on a mix of performance marketing and email marketing, depending on their business objectives and budget constraints.

Performance marketing can be effective during a downturn, as it allows advertisers to focus on driving measurable results and ROI, while minimizing costs and risks.

Performance marketing can also be highly targeted and scalable, allowing advertisers to reach the right audience with the right message at the right time.

On the other hand, email marketing can also be effective during a downturn, as it is a cost-effective way to communicate with existing customers and generate repeat business. Email marketing can also be highly personalized and engaging, allowing marketers to build relationships with their customers and drive conversions.

In general, a mix of performance marketing and email marketing can be an effective strategy during a downturn, as it allows marketers to reach a wider audience and drive measurable results, while maintaining a strong relationship with their existing customers. However, the specific mix of marketing channels should be based on the marketer's business objectives, target audience, budget, and other factors. Primarily it’s about finding the right balance between customer acquisition and customer retention.

3. Are you planning to tweak your goals and KPIs considering the significant economic slowdown? How so?

During an economic downturn, marketers should consider changing their goals and KPIs to reflect the changing market conditions and business objectives. While some KPIs may remain relevant, others may need to be adjusted or reevaluated to ensure that they are aligned with the business's current priorities and resources.

Here are some factors to consider when changing goals and KPIs during an economic downturn:

Business objectives: Marketers should align their goals and KPIs with the business's current objectives, such as reducing costs, retaining customers, and maintaining revenue.

Customer behavior: Marketers should consider how customer behavior is changing during the economic downturn and adjust their KPIs accordingly. For example, if customers are spending less money, KPIs related to average order value or revenue may need to be adjusted.

Budget constraints: Marketers should consider their budget constraints and adjust their KPIs accordingly. For example, if the budget for paid advertising has been reduced, KPIs related to ad spend or cost per acquisition may need to be adjusted.

Market conditions: Marketers should consider how the market conditions are changing and adjust their KPIs accordingly. For example, if the competition is increasing, KPIs related to market share or customer acquisition may need to be adjusted.

ROI: Marketers should continue to focus on KPIs that are directly related to ROI, such as customer lifetime value, return on ad spend, or cost per lead.

I think marketers should be flexible and adaptive during an economic downturn, and be willing to adjust their goals and KPIs to reflect the changing market conditions and business objectives. By focusing on KPIs that are aligned with the business's current priorities and resources, marketers can help ensure that their efforts are effective and generate measurable results.

4. When it comes to use of ESPs and CRMs for email marketing during such times, is there anything specific you are looking for in terms of support - customized solutions or customized pricing?

I think in general with an incumbent supplier it is about working together to make sure no stone is left unturned to ensure that we get the most from the partner platform or services in particular at the point of renewal. Do we really need all those un-engaged contacts sitting on the platform? What's the best price we could be getting for messaging volumes. What strategic services can they supply to ensure we maximize performance?