Channel your inner Aretha Franklin and sing it with me now: “… R-E-S-P-E-C-T, find out what it means to me …”
Cheesy, yes. But it’s the first thing that came to mind when I took a look at the latest weekly chart from Marketing Sherpa.
Despite its low cost and efficiency, email marketing lacks respect at the bargaining table come budget time, according to findings from their 7th Annual Email Benchmark Survey.
“The chart [below] underscores one of the enduring ironies of online marketing: Email is such an inexpensive and efficient medium that it’s often taken for granted.”
According the organizations surveyed:
- 38% think “email is a good tool and it’s cheap – we bump a few percent a year.”
- 31% think “email is a powerful tool and a direct line to customers – we invest enough to stay on top of the medium.”
- 21% think “email is cheap and working – why invest more?”
- 10% think “email is basically free – let’s keep it that way.”
Increased spending on email can broaden your reach and improve efficiency. “Come budget time, it’s worth arguing for the technology or service provider to take advantage,” say the Sherpas.