Not a big suprise, Datran, an email marketing and web advertising solutions provider, finds in it's Annual Marketing & Media Survey 2008 ... eMail works well for the 2.000 marketer questioned. There are still more companies using eMail than Search (and spend more money on).
From the results:
Which advertising media buys perform strongly for your company?
Which media channels do you think complement the email media channel?
Complete results from Datran Media
I think TV, Radio & Print should find this people and talk with them - they have more money than you think!