Step Away From the Open Rates! Communicator Corp

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Step Away From the Open Rates! Communicator Corp

  1. 1. @CommCorp #InternetWorld2013 #askCommCorp Step Away From the Open Rates!
  2. 2. @CommCorp #InternetWorld2013 #askCommCorp Why do we use the open rate? Uniquely accurate Key to reputation and delivery High open rate = success
  3. 3. @CommCorp #InternetWorld2013 #askCommCorp Email best practice advice... who is it for? Common Problems Familiar Answers Standard Message • inactive data • volume • relevancy • clean lists • send to active data • improve targeting • • • • You are sending too many emails inactive data is bad improve your open rates improve your sender reputation
  4. 4. @CommCorp #InternetWorld2013 #askCommCorp Email Marketing - Chapter 1 Collect permission-based data for marketing Use that data to target, segment and personalise Trigger and automate campaigns to improve relevancy and timeliness Re-engage and reactivate dormant and sleepy customers on your list Don’t send emails to long-term inactive data
  5. 5. @CommCorp #InternetWorld2013 #askCommCorp Email Marketing - Chapter 2 Open rate not relevant to evolving email marketing techniques You should send more emails You should repeat email sends If you want to engage with your customers, it is your customers, not your campaigns which you should measure (Tim Watson) Inactive is normal (Dela Quist) Use „Big Data‟ techniques to increase segment size
  6. 6. @CommCorp #InternetWorld2013 #askCommCorp High Open Rates and Campaign Success High open rates are seen in successful campaigns, but… Campaign success comes from relevancy and recipient interaction What does the open rate indicate? Open rates are a measure of that interaction High open rates are a consequence of a successful campaign, not the cause
  7. 7. @CommCorp #InternetWorld2013 #askCommCorp Send Email of Value, not Volume
  8. 8. @CommCorp #InternetWorld2013 #askCommCorp Volume and Value Case Study 1: Welcome Campaigns Moved from a single welcome email to a welcome series StudentBeans •13% Revenue increase •“We found that it is actually making the list more engaged” More people opened welcome emails •Open rates after welcome campaign increased by 67% because list was more engaged •It was not the same people opening each welcome email, which is what lead to the increased overall engagement of the list http://www.marketingsherpa.com/article/c ase-study/sixemail-welcome-increasesrevenue-13 67% more people opened subsequent emails 13% revenue increase over subscription lifetime
  9. 9. @CommCorp #InternetWorld2013 #askCommCorp Volume and Value Case Study 2: Cart Abandonment Moved from a single email to an email series SaleCycle – MandM Direct Email 1 – within a few minutes of cart abandonment 4.04% conversion rate Email 2 – 24 hours after cart abandonment 2.8% conversion rate 2nd Cycle influence 36% of conversions generated by the 2nd cycle 37% of cart recovery revenue generated by the 2nd cycle http://www.salecycle.com/ourresources/c ase-studies/content/mandm-direct.aspx More people opened emails More people revisited abandoned carts Increased conversions
  10. 10. @CommCorp #InternetWorld2013 #askCommCorp How multi-phase and re-targeting works More chances to open emails More people open emails Relevancy must be maintained
  11. 11. @CommCorp #InternetWorld2013 #askCommCorp Multi-phase – open rates Email campaign Recipients Openers Open Rate Week 1 full list news and offers 10,000 2,000 20% Week 2 full list – discount voucher 10,000 2,500 25% Discount Voucher priority follow-up Phase 1 2,000 800 40% Discount Voucher priority follow-up Phase 2 1200 200 17% Follow-up campaign 1: Success Follow-up campaign 2: Failure?
  12. 12. @CommCorp #InternetWorld2013 #askCommCorp Multi-phase – engagement and revenue Email campaign Combined Openers Recipients Openers Week 1 full list news and offers 10,000 2,000 £4000 Week 2 full list – discount voucher 10,000 2,500 £5000 Look at overall and incremental revenue £1600 Incremental costs are close to zero with automation £400 Discount Voucher priority follow-up Phase 1 2,000 800 3300 (33%) Discount Voucher priority follow-up Phase 2 1200 200 3500 (35%) Revenue Email campaign open rates show only a single point-intime measure of success Look at overall impact to mailing list
  13. 13. @CommCorp #InternetWorld2013 #askCommCorp Multi-phase and re-targeting – further examples Welcome campaign series Multi-cycle cart abandonment Time-limited event or offer Priority customer rewards A one-off offer to push
  14. 14. @CommCorp #InternetWorld2013 #askCommCorp Engagement, not open rates Increase the reach of individual campaigns Long term aim: increase openers within mailing list • Re-target • Multi-phase • Repeat campaigns • Increase size of mailing list • Increase quality of new and existing data and reduce unsubscribes • Interesting, useful, engaging, timely and relevant content
  15. 15. @CommCorp #InternetWorld2013 #askCommCorp Open Rate Strategy: Targeting active email addresses Increases open rates Remedial only – targeting same, decreasing list Inactive is normal (Dela Quist) Use inactive data differently Remove long-term inactive email addresses
  16. 16. @CommCorp #InternetWorld2013 #askCommCorp Open Rate Strategy: Targeting to segment Filter Criteria
  17. 17. @CommCorp #InternetWorld2013 #askCommCorp Open Rate Strategy: Targeting to fan-out results Fan-Out Filter Results
  18. 18. @CommCorp #InternetWorld2013 #askCommCorp Open Rate Strategy: Targeting to fan-out results Big Data modelling techniques to identify recipients with similar demographics Analysis used for targeting can be used to grow segments
  19. 19. @CommCorp #InternetWorld2013 #askCommCorp Summary Open rate is a single measure of a single campaign, not relevant to many modern email marketing techniques Open rate maximisation advice is to fix basic delivery problems and long-term can result in small number of people being retargeted If you want to engage with your customers, it is your customers, not your campaigns which you should measure (Tim Watson) Maximise revenue by improving the reach of each campaign and your mailing list engagement.
  20. 20. @CommCorp #InternetWorld2013 #askCommCorp A new strategy for the next 12 months Increase email revenue and ROI Increase number of actively opening, engaged customers Increase number and quality of customers in lists Use multi-phase campaigns to increase the reach of each campaign
  21. 21. @CommCorp #InternetWorld2013 #askCommCorp Questions? Some of the brands we work with... Meet the team at stand E6056
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