Las Vegas business owners are forecast to invest $4.7 million in 2020 on email advertising campaigns to market their goods and services, according to Borrell Associates, a company analyzes ad spending by local companies across the country.
Borrell predicts overall spending on email marketing by Las Vegas companies is expected to be down by nearly 28% versus last year, primarily due to the pandemic. Regardless, now might be a good time for small business owners to consider engaging current and prospective customers with emails.
"Email is on-fire right now," says Jay Schwedelson, President of Worldata, a company that builds and measures email marketing success for Fortune 100 companies. "Since the start of the pandemic, consumers are spending 22% in their email inbox than they were in January."
Mr. Schwedelson speculates the increase in inbox time is due, in part, to many consumers working from home and depending more-and-more on written communication from co-workers and customers.
"It could also be that consumers are finding comfort in their email boxes rather than from all the noise on social media."
"Either way, email marketing is performing better than ever," says Mr. Schwedelson. "We've studied more than 200 million emails sent over the past 30 days to both business-to-consumer and business-to-business. We found that B2C open rates are up 16% since January, while B2B open rates are 25% higher."