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Leveraging the Value of Email Marketing During a Recession
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3. Leveraging the Value of Email
Marketing During a Recession
Simms Jenkins
Founder & CEO
BrightWave Marketing
sjenkins@brightwavemarketing.com
404.888.0133
www.BrightWaveMarketing.com
www.EmailStatCenter.com
4. Agenda
1. Redefine your program
2. Build the Business Case
3. Position Email As Service Bureau
4. Arm Yourself With Data
5. Optimize
6. Cut Costs with Email
7. Deliver Exceptional Value to Subscribers
8. Get Creative
5. Background
Award-Winning Email Marketing Services Firm –
Founded in 2002
Specialize in creating, managing and optimizing email
marketing programs that
Acquire & Retain Customers
Build Relationships
Cut Costs
BrightWave Marketing’s
Drive Revenue
appearance on Bloomberg TV
“One of the top 21 email marketing information
sources” & “Best Blogs” - Email Marketing Reports.com
Recognized as one of the leading email service firms in
the industry
BrightWave & Client work featured in dozens of
industry publications and media including The Atlanta
Journal Constitution, Bloomberg TV, Marketing Sherpa,
BtoB, ClickZ, DM News & MediaPost
Awarded Atlanta Marketer of the Year (AMY) Award by
the American Marketing Association and the South
Star Award by the Direct Marketing Association
Created EmailStatCenter.com, in partnership with The
Email Experience Council, the leading email research
and metric portal for email marketing practitioners
Contributor to iMediaConnection, over 40 email
industry related articles published
Forthcoming book “The Truth About Email Marketing”
to be published by Pearson on Aug. 1
Leadership developed email programs at Cox
Interactive Media, Southern Progress & WebMD
8. “In the middle of difficulty lies opportunity”
Albert Einstein
9. Interactive Marketers Are Bullish In A Recession
Survey of 333 interactive marketers revealed strong support
for maintaining or increasing budgets in categories including
social networking, email, blogging, and search optimization.
Professional services, financial services, and media
marketers are most likely to plan increases in interactive
marketing.
In a recession like this, marketers should focus on the
measurability of their online and social applications and
think in terms of building long-term assets, not one-off
campaigns to boost quarterly sales.
Josh Bernoff – Forrester Research
10.
11. Email Marketers Wish List
Strategy & Measurement are the top
2 areas for near term focus for email
marketers
-- EmailStatCenter.com First Annual State of Email Metrics
Survey, Nov. 2008
List Development & Time
Constraints are the biggest
challenges for email marketers
-- EmailStatCenter.com First Annual State of Email Metrics
Survey, Nov. 2008
13. Redefine Your Email Program
Purpose/Mission
Recommended Metrics for Success
Goals Overall Goal
a) Drive Revenue
Success Metric
Revenue
Industry
Average
NA
COMPANY
current state
$10,000,000
COMPANY
desired state
$22,500,000
a) Drive Revenue ROI $57.25 $20.00 $40.00
Benchmark a) Drive Revenue Conversion Rates .13% 0.50% 1%
a) Drive Revenue Value of Email Subscribers NA $2.00 $3.00
(# of subs/revenue)
Define Your Assets b) Customer Loyalty
b) Customer Loyalty
Total Email Subscribers
Unsubscribe Rate
NA
.29%
5,000,000
0.15%
7,500,000
< 0.10%
b) Customer Loyalty Customer Frequency NA 1.2 2
Make Sure Your Team (average monthly
visits/average monthly
unique visitors)
(Internal & Partners) Are b) Customer Loyalty Customer Retention (% of
site visitors returning to
client..com)
NA NA Begin to track,
initial goal
should be 25%
On the Same Page & c) Brand, Product,
Feature Awareness
c) Brand, Product,
Open Rate
Click Through Rate
20.77%
5.32
26%
8%
30%
12%
Invested Feature Awareness
c) Brand, Product,
Feature Awareness
Deliverability 96.9 94% 97%
15. Email is Too Valuable & Powerful
Email has reached almost universal penetration, with 97%
of consumers & 94% of marketers using the channel -
Forrester, 2007
87% of Consumers online time is spent reading their
emails - David Daniels, Vice President JupiterResearch, Dec. 2007
82% of marketers choose email marketing as the most
important advertising media they planned to use in 2008 -
Datran Media, 2008
81% of marketers planned to increase spending on email
marketing in 2007 - Alterian, 2007
US spending on email advertising will grow to $2.1 billion
by 2012 from $1.2 billion in 2007 – JupiterResearch, 2007
16. Email Marketing Delivers ROI
For every dollar spent on Email
marketing in 2007, marketers can
expect an estimated $48.29 ROI.
-- DMA, 2007
17. Email Marketing Delivers ROI
Email Marketing Outperforms Other Media
Email delivers one of the lowest costs
per order
Email's ROI index is 70 percent higher
than any other direct-response
marketing vehicle - DMA, 2006
83% of marketers surveyed said that
they thought 2007 ROI for email will
increase over last year. - Datran Media
Research, quot;The 2007 Email Marketing Survey: Looking
Forwardquot;
45% say best performing online
advertising tactic is emailing your in-
house list - CMO Council, 2006
B2C marketers will spend 11% of total
marketing budget on email marketing in
2007 - DMA, Nov 2006
B2B marketers will allocate 6.5% of their
Source: Direct Marketing Association
marketing budget to email marketing in (DMA) as cited by Promo Magazine,
2007 - DMA, Nov 2006 October 18,2007
20. Internal Email Service Bureau
Email is the…
…Workhorse of Interactive/Direct Marketing
…Bridge to Sales & Marketing
Use Best Practices to Monitor & Control
Create Business rules, policies and guidelines
Test
Metrics as a Leash
Consider Centralization
Only 38 percent of executives said their
email messaging endeavors are
centralized in one location, with 24
percent citing that six or more
departments manage it separately.
-- Jupiter Research, 2007
22. Lack of Analysis
70% of respondents said they
apply basic or no analysis to any
of their email campaigns.
-- Alterian, 2007
23. State of Email Marketing Metrics
EmailStatCenter.com’s First Annual State of Email Metrics
Survey conducted August - October 2007
95% of email marketers measure results
56% measure immediately after campaigns while 48% and 44%
measure weekly and monthly, respectively – only 18% measure
annually
Survey respondents said it was very important to measure email
campaigns in order to improve results
Respondents ranked email metrics by importance :
1. Click Through Rate
2. Deliverability
3. Conversions
4. ROI
5. Open Rate
6. Revenue
7. Total Subscribers
8. Forwards
Only ½ of email marketers are using email metrics for
budgeting/forecasting purposes
Biggest Metrics Challenge = Lack of standardization
24. Remarket
Redesigned creative lifted response
rate between 100-350%
Email Marketing efforts generated
$119,567 in revenue
ROI was $39 for every $1 spent for a
3,886% return
Overall event registration was 11%
higher than planned
Awarded Atlanta Marketer of the Year
(AMY) Award by the AMA and South
Star award by the DMA for best email
marketing campaign
26. Operational Inefficiencies
Most marketers are keeping up with campaign schedules, rather
than enhancing them
76.5% of retailers had no plans to add to their email marketing
staffs in the next 12 months (Internet Retailer, 2006)
Sixty two of sixty three commercial email efforts scored failing
grades (Forrester Research, 2006)
27. Existing Creative Challenges
Fewer than 50 percent of marketers create emails
that render appropriately - Email Experience Council, 2007
59% of online customers routinely block images -
MarketingSherpa, 2007
One in five emails are invisible and ineffective due to
blocked images - Email Experience Council, 2007
34% of marketers surveyed said that creative
optimization had the most impact on email
campaigns - Datran Media Research, 2007
Optimizing to ensure effective messaging even when
images are off delivered an 87 percent increase in
clicks. – SubscriberMail, 2008
30. Email Design/Layout Optimization
August 2007
- Does not rely on images to
provide key marketing message
& CTAs
- Call to action links in preview
pane area
- Added navigation to target
customers in multiple spots in
buying cycle
- Added additional content areas
for increased promotional real
estate
*Response Increased
700%
(Clicks/Open)
32. The Power of Inbox Optimization
What Changed
New template with multiple links and
content offerings
Used Metrics for follow up efforts
Deployed via BrightWave platform
Metrics Measurement & Benchmarking
The Results
152% increase in Click Through Rate
over previous TMG email campaigns
215% increase in Unique Clicks/Open
Rate
640% increase in tracked viral activity
(forwards)
13.1% increase in deliverability rate
41% decrease in unsubscribes
Hired as Email Marketing Agency Of
Record
34. Cutting Costs
Eliminate Traditional Hard Costs
Newsletters
Direct Mail
Catalogs
Call Center
Call Center Volume decreased
more than 80% following
Weekly Remittance email
deployments
36. Value in the Inbox
People who buy products advertised in emails spend 138% more
than those who don't - Forrester Research, 2007
90% of consumers use email to engage in and determine the
value of a relationship with a company - JupiterResearch, 2006
50% of the shoppers surveyed said they used emails to make
purchases; 50% said email had some influence on their shopping
habits - Return Path, 2006
50% of consumers who open and read email marketing messages
are also likely to purchase other items on impulse - Forrester
Research, 2007
47% of consumers who think email is a great way to find out
about new products or promotions are willing to pay a premium
for products that save them time and hassles - Forrester
Research, 2007
37. Value in the Inbox
Offer Exclusivity
Reward Behavior
Personalize
Aim for Viral Takeoff
Make Life Easier