This post isn't about bashing email. We've been seeing some great results in the last few months with email. Specifically, better open rates, better click throughs, and better conversions into sales (although this isn't always trackable for every situation - we have been tracking it with some projects). One clear take away is that email works best when it is integrated with social and mobile. While the year of mobile hasn't arrived yet, and I doubt that 2010 is the year either, including mobile works well with the early adopter demographic for work that we've done recently.
When I look at these numbers, it isn't hard to see the truth - even in the behavior of people I know. I can connect with some people much more easily via Facebook direct messages or chats than I can via email, phone or text message. Social does offer so many platforms, lots of content, and it has an organic feel that email never came close to.
We're not ditching email. In fact, we're doing more. But it makes budgeting more for social easier. ;)