Email is the Top Marketing Channel for New Business

$5.4 T      

We have seen tremendous growth in ad spending in 2022 and will continue to grow moving into 2023. GroupM WPP has announced that it has obtained digital transformation agency Fenom Digital and the deal was not disclosed. The companies are focusing on growing their e-commerce capabilities. According to Euromonitor, online retail is expected to pull up from $3.3 trillion in sales today to $5.4 trillion by 2026. 

18,000  

In the US, Amazon one of the largest employers is scaling back more than it had anticipated. Andy Jassy, Amazon’s CEO, announced that they are laying off more than 18,000 employees, which represents 1% of its workforce.  

25%  

As per per CivicScience, a quarter of US adults pay the most attention to TV commercials followed closely by online ads and they rank 25% and 26%. Whereas magazine and newspaper ads rank bottom with only 4% and 5%. eMarketers predicts that US linear TV ad spending would reach $62.42 billion this year, a 7.7% decrease from 2022.   

59%   

Sopro’s new whitepaper revealed email is the top marketing channel when it comes to new business prospecting. 59% of marketers believe that email is twice effective in generating leads than channels such as PPC and paid social media. 77% of B2B buyers prefer to be contacted over email than double any other channel. 

$1.2 T

In February, Instagram plans to remove the Shop tab from its in-app navigation bar and add a shortcut to create content in the center of the navigation bar and a Reels shortcut to promote content creation and consumption. As per Accenture’s forecast, the global social commerce market would increase by $1.2 trillion by 2025, which is up from $492 billion in 2021. 

649%  

As per the latest report from outplacement services firm Challenger, Gray & Christmas, technology industry led job cuts last year, totaling more than 97,000 across the sector.  Tech job cuts were up 649% in 2022. Overall last year, employers across industries announced plans to cut nearly 364,000 jobs, which is 13% increase from the year prior. 

10% 

Salesforce announced that the company is planning to cut 10% of its personnel and reduce some office space as part of a restructuring plan. But the company employed more than 79,000 workers as of December. The company recorded charges of $1.0 billion to $1.4 billion related to the headcount reductions.