by CodeinWP Editorial / February 12, 2024 / ideas & inspiration
What’s the ROI for email marketing? Which industries have the highest conversion rates in their email marketing campaigns?
How does personalization impact the effectiveness of email marketing? This email marketing stats roundup has the answers to these questions and more.
We have collected up-to-date email marketing stats you need to know about in 2024.
Let’s dive right in. 🪂
Key Takeaways
- Email marketing produces $36 ROI in the US for every $1 spent.
- The value of an individual email address is worth around $47.
- The average email marketing open rate is 31.35%. The average click-through rate is 1.23%, and the average conversion rate is 0.08%.
- Around 45% of B2B marketers in the US named email as the most effective channel for driving revenues.
- Brands that use dynamic content in their email marketing campaigns report a higher ROI of 43:1.
- Email marketing market size was forecasted to reach $10.89 billion.
Email marketing ROI statistics 📧
Email marketing produces $36 ROI in the US for every $1 spent [1].
Large organizations with 500 or more employees tend to have the highest email ROI – $41, followed by $35 ROI among companies with less than 100 employees, while mid-sized companies reported the lowest email ROI of $29.
Email marketing ROI suffers from sending either too few or too many emails. The sweet spot is between 9 and 16 emails per month per subscriber – bringing in an ROI of $46 [1].
Brands that regularly do A/B tests in their emails report the highest ROI of 42:1 vs. 23:1 among those who never A/B test their emails [1].
The value of an individual email address is worth around $47 [2].
The retail, e-commerce, and consumer goods and services industry, reported a higher ROI of $45 vs. $36 across the software and technology sector.
Email marketing statistics by industry 🏭
Email Marketing Open Rates by Industry
One study found that the average open rate across email campaigns was 31.35% [3] in 2022 vs 21.5% in 2021 [4].
The average open rate was 35.7% across B2B and 33.7% across B2C email campaigns [3].
Here’s a detailed breakdown of open rates across B2B and B2C email marketing campaigns over time [5]:
📌 Note: A significant open rate increase in 2022 was impacted by Apple’s Mail Privacy Protection (MPP) and may not reflect actual activity.
The three best-performing industries for open rate were hobbies and leisure (32.53%), food and drink (27.54%), and sports (27.27%) [5].
Email Marketing Click-Through Rates by Industry
The average email marketing click-through rate reached 1.23% in 2022 (down from 1.37% in 2021) [5].
The three industries with the highest click-through rate were: hobbies and leisure (1.95%), books and literature (1.90%), and food and drink (1.55%).
Email Marketing Click-to-Open Rates by Industry
In 2022, the average click-to-open rate was 5.23% [5].
The books and literature industry stood out with the highest click-to-open rate of 8.14%, followed by auto (6.10%) and hobbies and leisure (5.98%).
Email Marketing Conversion Rates by Industry
Across all industries, the average conversion rate was 0.08% in 2022 (down from 0.10% in 2021) [5].
The top three performing industries for email marketing in terms of conversion rates include food and drink (0.17%), hobbies and leisure (0.13%), and tobacco and cannabis (0.11%).
Email Marketing Click-to-Conversion Rates by Industry
The average click-to-conversion across email campaigns hit 6.34% in 2022 vs 7.20% in 2021 [5].
Tobacco and cannabis topped the ranking with the highest click-to-conversion rate of 12.68%, followed by food and drink (10.90%), and health and wellness (10.39%).
Email Marketing Unsubscribe Rates by Industry
The average unsubscribe rate was 0.24% in 2022 (down from 0.33% in 2021).
The lowest unsubscribe rates were reported by senders working at telecommunications (0.06%), and media (0.09%) organizations [6].
Email Bounce Rates by Industry
The average email bounce rate was 0.30% in 2022, down from 0.55% in 2021 across all industries.
The lowest bounce rates were reported by publishing companies (0.19%), games (0.16%), and telecommunications (0.18%) [6].
B2B email marketing statistics 👔
Roughly 69% of B2B content marketers distributed content via email newsletter (67% via email, other than newsletter) in the past 12 months [8].
Around 45% of B2B marketers in the US named email as the most effective channel for driving revenues in 2023, up from 41% in 2021 [7].
Approximately 68% of B2B marketers use email marketing software, making it the 3rd most used technology (after analytics tools and social media publishing) [8].
Email engagement is used by 83% of B2B marketers to assess content performance, making it the 2nd most popular metric after website visits [8].
Email ranks among the leading marketing tactics with around 36% of B2B companies implementing it in 2022, more than paid social media (35%) or in-person trade shows (35%) [8].
Email segmentation and personalization statistics 🧮
Brands that leverage dynamic content (“often or always”) in their email marketing campaigns tend to report a higher ROI of 43:1 vs 12:1 than those who “rarely or never” include dynamic content [1].
Around 60% of the most successful email marketers cited personalization as the top strategy for boosting engagement [9].
Around 41.3% of email marketers plan to make personalization part of their strategy in the upcoming year; 34.9% state to leverage segmentation in their email marketing strategy moving forward [9].
Newsletter statistics 📢
Analysis of email newsletter benchmark data shows an average open rate of 26.7% and a click-through rate of 2.13%. To put it in perspective, triggered emails tend to have a higher open rate – 35.33% and a click-through rate of 3.69% [10].
Here are the average metrics by message type, including newsletter:
31% of B2B marketers rated email newsletters as the highest-performing channel to nurture leads for their organization [11].
Performance of email newsletters is followed by blog posts/short articles – at 13%; in-person events and case studies at 9%.
Substack (email newsletter platform) has over 2 million paid subscriptions [12].
There are more than 17,000 writers on Substack with active paying subscribers. The top ten authors on the platform earn more than $25 million a year as a group.
The average size of an email 📐
One analysis found that emails include, on average, 434.48 words [13].
Around 75.9% of emails had 600 words or less, while 50.2% of emails had less than 300 words.
Emails with three images or less and about 20 lines of text have the highest click-through rates [14].
Email usage statistics 📊
Number of email users worldwide is forecasted to hit 4.37 billion users in 2023 [15].
💡 Note: Data for 2021-2025 is a forecast.
The number of email users in the US is estimated to hit 277.7 million in 2023 [16].
The number of emails sent/received daily worldwide is estimated to hit 347.3 billion in 2023, representing a 4.26% year-over-year change [17].
💡 Note: Data for 2021-2025 is a forecast.
Email marketing market size 🛒
In 2023, email marketing market size was forecasted to reach $10.89 billion [18].
💡 Note: The data above includes forecasts.
…
Don’t forget to join our crash course on speeding up your WordPress site. Learn more below:
Or start the conversation in our Facebook group for WordPress professionals. Find answers, share tips, and get help from other WordPress experts. Join now (it’s free)!
