I came across an interesting infographic designed by Smartertools Incorporated which really puts email into perspective.
The strength of email is clear
- 2.9 billion email accounts and 188 billion legitimate emails per day
- 2.1 million email messages are sent per second
- Nearly 3 times the number of email accounts than Facebook, Twitter and Google+ accounts combined.
- The number of emails sent daily is 42 times the number of Facebook & Twitter updates, search engine searches and Google+ shares combined
- If email were a country it would be the largest in the world and twice the size of China by population
Can we attach a monetary value to email?
It is near impossible to calculate a true monetary value for email. There are just too many variables and too many unknowns. But for the sake of illustration, let me paint two scenarios for you...
From an Email Marketing perspective – The Return on Investment (ROI) for every dollar spent is $54 according to the US Direct Marketing Association. Let’s assume a much more conservative ROI of $5.
If 1% of all daily email traffic is pure marketing based (1.8 billion messages per day), this amounts to $9.8 billion return generated per day and a cool $3.4 trillion ROI per annum. (10 times that if you believe the US DMA.)
From an eBilling / eStatement perspective – A conservative average cost saving on an eStatement or eBill vs. a paper statement, is approximately $0.25 per document delivered or notification to retrieve from a portal.
If as little as 0.01% of legitimate email is an eStatement / eBill document or notification delivered, it would equate to 564 million emails per month – roughly a cost saving of $141 million. Annualise that cost saving and you’re looking at $1.6 billion dollars.
This simplistic model illustrates a very basic monetary value calculation, attached to only two applications of email. Imagine what it could be for all applications of email?
However, the true value of email lies in the following:
As one of the 2.9 billion email account holders; my email address remains my single unique common identifier for most things digital.
- In the workplace, it is how I communicate with my customers and colleagues on a daily basis
- This is where my bank communicates with me. Sending my statements at month end or the alerts and notifications when there is activity on my account
- Email communications keep me up-to-date with my investment portfolio information, policy changes and stock trades
- My mobile, clothing, food and utility account bills are all delivered at the end of the month via email reminding me to pay on time
- Notifications to my inbox alert me to that special deal available at the Golfers Club, and the amazing daily discount deals from Groupon
- It is how I access all my social media sites and how they send all my friends status updates and activity notifications.
- My email address is my access to iTunes to download apps, podcasts and music on my iPhone and iPad and to sync my calendar and email keeping me connected
- And last but not least, it is how my family and friends from far and wide can contact me just to say “Hi. How you doing”.
No matter what we use email for, it is so deeply ingrained in our daily lives, it is hard to imagine life without it.
In a word, the true value of email is... Priceless!
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