Marketers continue to cold email prospects despite the fact that buyers are increasingly overwhelmed by brand communications.
Email marketing is a significant outreach strategy despite the dwindling open rates. And, successfully so. Studies show that out of every hundred emails sent, twenty-five of them get opened.
This blog post will guide you in setting up your B2B email marketing benchmarks to increase the chances of your email being opened.
Benefits of Email Marketing for B2B in 2023
Whether you are a marketing giant or a seed-level startup, the benefits of email marketing are tremendous when done right.
Email marketing for B2B helps you:
- Increase brand awareness: Email marketing can help you reach your target audience and stay top-of-mind by sharing industry updates, trending news, advice, and information about your products or services.
- Send personalized, targeted messages: You can divide your audience into smaller segments based on criteria such as industry, job title, and location. This allows you to send more personalized emails that are more likely to be positively received and helps you nurture and convert leads.
- Generate leads and conversions: Email marketing campaigns can encourage action with calls-to-action, such as visiting a website, contacting you for more information, or filling out a form. Over time, your email marketing campaigns can help you qualify your leads and convert them into customers.
- Cost-effective tool with high ROI: Email marketing is a relatively inexpensive way to reach potential customers. It also has a high ROI, with marketers receiving an average of $36 for every $1 they spend on email marketing.
- Measurable results: You can use email tracking software to track metrics such as open rates, click-through rates, and conversion rates. This data can help you assess the success of your campaigns and make improvements over time.
What are Email Marketing Benchmarks and their Importance
Email marketing benchmarks are necessary for determining the success of your sent emails. Benchmarks help you understand how your email marketing campaigns are performing as compared to industry standards.
In this demanding world, it is easy to get lost amidst the competition and take a detour from where you aim to be. We are so busy being better than our competitors that, at times, we forget to check on how far we have come from our previous campaign.
For instance, the open rate for your email campaign might not be what you want it to be, yet it might be better than many others, and it could be performing well as per your industry standards. Hence, having proper benchmarks is essential in B2B email marketing campaigns.
To sum it up, setting proper email marketing benchmarks will help you answer these questions:
- Is my campaign performing better than my previous campaign?
- Am I doing better than my competitors?
- Is my campaign performing well according to the industry standards?
Prominent B2B Benchmarks for 2023
Benchmarks for B2B emails differ from industry to industry. Here are some general guidelines to measure success.
B2B Open Rate Benchmark
It’s important to know that B2B emails usually have lower open rates compared to B2C emails. The average B2B email open rate is just 15.14%. However, this benchmark can be a great starting point for improving your email open rates.
B2B Click-Through Rate Benchmark
B2B emails undoubtedly have higher click-through rates than B2C emails, with an impressive 2.41% average for B2B email campaigns.
B2B Conversion Rate Benchmark
It’s important to note that B2B email conversion rates can vary depending on the industry. Typically, pricing tends to have an impact on conversion rates, with higher-priced products leading to lower conversion rates. Therefore, it is crucial to establish the B2B conversion rate based on industry-specific standards.
Here are the average B2B conversion rates for some major industries:
- B2B e-commerce: 3.2%
- B2B services: 3.5%
- B2B tech: 1.7%
These industry-specific benchmarks provide a solid foundation for the B2B conversion rates that you should strive to achieve.
B2B Click-To-Open Rate Benchmark
Achieving a 14.5% to 22.22% click-to-open rate for your B2B emails is crucial. This rate not only demonstrates effective content but also a compelling call-to-action, which are both essential for success in email marketing.
Conclusion
Email marketing benchmarks are essential for businesses to evaluate the performance of their email campaigns and improve their email marketing strategies. By comparing their metrics to industry-specific benchmarks, businesses can set smarter goals and work to improve their email campaigns.
