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When Should You Send An Email?How one of the largest banks in the world discovered whento send their emails.              ...
Join the conversation on Twitter            #webclinic                     #webclinic
Today’s speaker            Dr. Flint McGlaughlin            Managing Director                           #webclinic
When is the best time to send?   your email?             #webclinic
When to Send an Email: Proposed Answers                            3:00 AM     Source: MailerMailer                       ...
When to Send an Email: Proposed Answers                        2:00 – 5:00 PM    Source: MailChimp                        ...
When to Send an Email: Proposed Answers                         Weekends       Source: HubSpot                           #...
A Case Study               #webclinic
www.act-on.com                                                                           Sales: 1 877.530.1555Act-Ons fres...
Experiment: Background         Experiment ID: TP2087         Record Location: MarketingExperiments Research Library       ...
Experiment: Design                    14 Total Email Sends During Week of Test   Monday      Tuesday     Wednesday       T...
?   Which Time of Day Will Perform Best?             3:00 AM or 3:00 PM?               #webclinic
Experiment: Clickthrough rate by time of day          13.5% Increase in clickthrough rate          Sending at 3:00 PM incr...
?   Which Day of the Week Will Perform Best?     Mon., Tues., Wed., Thurs., Fri., Sat., Sun.                  #webclinic
Experiment: Clickthrough Rate by Day                    Clickthrough Rate By Day       Mon   Tues      Wed   Thurs        ...
Experiment: Clickthrough rate by day            23.2% Increase in clickthrough rate            Sending on Sunday increased...
Experiment: Interpretation          Sunday Reader                                       Possible Reasons for Higher       ...
Experiment: Interpretation          Weekday reader                                        Possible Reasons for Lower      ...
What we discovered     Key Principles 1.   There is no “one-size-fits-all” time/frequency for an email send. 2.   However...
Today’s Focus    Today we are going to walk through these 5 factors to      help you get “in the zone” for understanding t...
Factor #1: Decision Cycle                 #webclinic
Factor #1: Decision Cycle      Key Principles  1.   The optimal frequency of an email is directly related to the decision...
Factor #1: Decision Cycle              Experiment ID: (Protected)               Location: MarketingExperiments Research L...
Factor #1: Decision Cycle   This group was currently sending emails with a frequency ranging   from once a week to multipl...
Factor #1: Decision Cycle                              Test list                Frequency                  Full List      ...
Factor #1: Decision Cycle  What do you think will be the optimal monthly frequency  for this company?       1.      1-2 pe...
Factor #1: Decision Cycle                                                    Estimated Monthly Revenue vs. Email Send Freq...
Factor #1: Decision Cycle                                                    Average No. Unsubs Per Month at Each Send Fre...
Factor #1: Decision Cycle                            •   …the unsubscribe rate                                on a per-mes...
Factor #1: Decision Cycle                            •   Open-rate also does not                                appear to ...
Factor #1: Decision Cycle                                    3x Increase in Projected Monthly Revenue                     ...
Factor #2: Utility                     #webclinic
Factor #2: Utility Promotional                                                             Useful         •     Direct Off...
Factor #2: Utility Promotional                                                             Useful     • When the nature of...
Factor #2: Utility Promotional                                                            Useful     • When the nature of ...
Factor #3: Relevance                 #webclinic
Factor #3: Relevance      Key Principles  1.   The relevance of an email can be based upon 1) the internal       motivati...
Factor #3: Relevance  Internal Relevance                     External Relevance   • Personal interests                   •...
Factor #3: Relevance       Example – Case Study5 Key Email Segments:      Current           Current          Lapsed       ...
Factor #3: Relevance   Example – Case Study         Email Sample                              Current                     ...
Factor #3: Relevance   Example – Case Study                                                   Current         Email Sample...
Factor #3: Relevance    Example – Case Study          Experiment ID: TP2004          Record Location: MarketingExperiments...
Factor #3: Relevance   Example – Case Study        Product: Equity Screening Database                                     ...
Factor #3: Relevance   Example – Case Study             Email A                          Email B     Send Time: Monday    ...
Factor #3: Relevance   Example – Case Study          30% Increase in free trial sign ups         Sending at the end of the...
Factor #3: Relevance      Example – Case Study                        Why did the end of the week timing win?             ...
Factor #3: Relevance      Key Principles  1.   The relevance of an email can be based upon 1) the internal       motivati...
Question #1: Email Timing and Relevance                            Urgent                 Urgent               Urgent,    ...
Factor #4: Nature of Product                 #webclinic
Factor #4: Nature of the Product     Key Principles Email timing is affected by inherit emotional response produced by th...
Factor #5: Expectation                 #webclinic
Question #2: Email Timing and Expectations    Key Principles The expectation of email timing is set by two elements:     ...
Question #2: Email Timing and Expectations   Example – Industry Standards               Groupon                           ...
Question #2: Email Timing and Expectations    Key Principles The expectation of email timing is set by two elements:     ...
Question #2: Email Timing and Expectations    Example – Karma Loop Case Study          MarketingSherpa Case Study        ...
Question #2: Email Timing and Expectations   Example – Karma Loop Case Study                                              ...
Question #2: Email Timing and Expectations   Example – Karma Loop Case Study            On the product landing            ...
Question #2: Email Timing and Expectations   Example – Karma Loop Case Study           Email revenue increased 318%       ...
Evaluating your Email Campaigns               #webclinic
Quick Audience Poll       Audience Poll: What Web clinic time works   ?   best for you?                      #webclinic
February 19-22, 2013 - Las VegasInteractive, How-to Training Sessions on email and       Proven Email Strategies, campaign...
Educational funding provided by…               #webclinic
www.act-on.com                                                                           Sales: 1 877.530.1555Act-Ons fres...
Live Optimization                                                  Carpingo   Primary objective(s): Drive   clicks to cont...
Live Optimization                                                 CR England   Primary objective(s): Get   people to apply...
Live Optimization                                                 Payscale.com   Primary objective(s): To get   users to f...
Live Optimization                                                  Goodwill Easter Seals   Primary objective(s): Education...
Live Optimization                                                 Puzzle Warehouse   Primary objective(s): Sales   Value p...
MarketingExperiments Optimization NewsletterFree subscription to more than $20 million in marketing research Join 89,000 o...
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When Should You Send An Email

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Transcript of "When Should You Send An Email"

  1. 1. When Should You Send An Email?How one of the largest banks in the world discovered whento send their emails. Educational Funding Provided By: #webclinic
  2. 2. Join the conversation on Twitter #webclinic #webclinic
  3. 3. Today’s speaker Dr. Flint McGlaughlin Managing Director #webclinic
  4. 4. When is the best time to send? your email? #webclinic
  5. 5. When to Send an Email: Proposed Answers 3:00 AM Source: MailerMailer #webclinic
  6. 6. When to Send an Email: Proposed Answers 2:00 – 5:00 PM Source: MailChimp #webclinic
  7. 7. When to Send an Email: Proposed Answers Weekends Source: HubSpot #webclinic
  8. 8. A Case Study #webclinic
  9. 9. www.act-on.com Sales: 1 877.530.1555Act-Ons fresh approach to marketing automation gives you full, complex-free functionality. With astreamlined user interface and first-rate marketing tools at your fingertips you will be able to: Manage your online Get higher-quality Align sales and Track and measure Marketing leads marketing your results All the tools you need, in Solutions that drive lead Integrations that work >> Real-time, actionable one place >> generation >> reporting >> www.act-on.com | @ActOnSoftware | #ActOnSW
  10. 10. Experiment: Background Experiment ID: TP2087 Record Location: MarketingExperiments Research Library Research Partner: ProtectedResearch Notes: Background: A large financial institution offering a financial service requiring an application to consumers Goal: To increase the amount of completed applications Primary Research Question: Of the send times tested, which time will result in the highest rate of completed applications to delivered emails? Approach: A/B multifactor sequential test #webclinic
  11. 11. Experiment: Design 14 Total Email Sends During Week of Test Monday Tuesday Wednesday Thursday Friday Saturday Sunday AM Email AM Email AM Email AM Email AM Email AM Email AM Email 1 3 5 7 9 11 13 PM Email PM Email PM Email PM Email PM Email PM Email PM Email 2 4 6 8 10 12 14 The test had a total 14 treatment paths - each path had the same Subject Line and Email. The Treatment values included sending two emails each day of the week Monday thru Sunday, at 3am and 3pm. #webclinic
  12. 12. ? Which Time of Day Will Perform Best? 3:00 AM or 3:00 PM? #webclinic
  13. 13. Experiment: Clickthrough rate by time of day 13.5% Increase in clickthrough rate Sending at 3:00 PM increased clickthrough rate by at least 13.5% Clickthrough Relative Statistical Level Time of Day Rate (%) Difference of Confidence 3:00 AM 1.076% - - 3:00 PM 1.220% 13.5% 99%  Whatinyou email to understand: Recipientsalso significantly out- to click an need sent at 3:00 PM. Sunday were 13.5% more likely performed every other day of the week. #webclinic
  14. 14. ? Which Day of the Week Will Perform Best? Mon., Tues., Wed., Thurs., Fri., Sat., Sun. #webclinic
  15. 15. Experiment: Clickthrough Rate by Day Clickthrough Rate By Day Mon Tues Wed Thurs Fri Sat Sun #webclinic
  16. 16. Experiment: Clickthrough rate by day 23.2% Increase in clickthrough rate Sending on Sunday increased clickthrough rate by 23.2% over Tuesday Day (in order of Clickthrough Rate Statistical Level of Relative Difference performance) (%) * Confidence 1. Tuesday 10.47% - - 2. Monday 10.90% 4.1% 72% 3. Thursday 11.01% 5.1% 82% 4. Friday 11.59% 10.7% 99% 5. Wednesday 11.64% 11.2% 99% 6. Saturday 11.84% 13.1% 99% 7. Sunday 12.90% 23.2% 99%  Whatinyou email to understand: Recipientssent on Tuesday. Sundayto click an need sent on Sunday than one were 23.2% more likely also significantly out-performed every other day of the week. #webclinic
  17. 17. Experiment: Interpretation Sunday Reader Possible Reasons for Higher Clickthrough on Sunday • Less distractions on Sunday • Advent of mobile attaches recipients to email 24/7 • Personal nature of financial product causes higher clickthrough outside of work #webclinic
  18. 18. Experiment: Interpretation Weekday reader Possible Reasons for Lower Clickthrough during Week: • Higher level of distraction • Customers are in “work” mode and less likely to be interested in financial application #webclinic
  19. 19. What we discovered Key Principles 1. There is no “one-size-fits-all” time/frequency for an email send. 2. However, the universal goal of email timing is to synchronize your email’s delivery with the cognitive psychology of the customer’s purchase cycle. 3. There are 5 consistent factors from campaign to campaign that will impact your customers purchase cycle: 1. Decision cycle 2. Utility 3. Relevance 4. Nature of Product 5. Expectations #webclinic
  20. 20. Today’s Focus Today we are going to walk through these 5 factors to help you get “in the zone” for understanding the optimal send time/frequency of your emails #webclinic
  21. 21. Factor #1: Decision Cycle #webclinic
  22. 22. Factor #1: Decision Cycle Key Principles 1. The optimal frequency of an email is directly related to the decision cycle of the offer (how often a decision is required) – the shorter the cycle, the greater the frequency. #webclinic
  23. 23. Factor #1: Decision Cycle  Experiment ID: (Protected) Location: MarketingExperiments Research Library Research Notes: Background: Large ecommerce company with strong online presence. Goal: To find the optimal send frequency for a segment of their email list. Primary research question: Which email frequency will generate the most revenue without increasing the rate of unsubscription? Approach: A/B email frequency test ran over a period of 60 days. #webclinic
  24. 24. Factor #1: Decision Cycle This group was currently sending emails with a frequency ranging from once a week to multiple times a day. But what was the the optimal frequency? Optimal Frequency Total Revenue Unsubscribes Email Sends #webclinic
  25. 25. Factor #1: Decision Cycle Test list Frequency Full List Three weeks Two weeks 10 days Week 5 Days 3 Days 2 Days • Took a segment of their large subscriber base (more than one billion emails a year) • Segmented that group into seven different email frequencies mentioned above hoping to find the frequency “sweet-spot” #webclinic
  26. 26. Factor #1: Decision Cycle What do you think will be the optimal monthly frequency for this company? 1. 1-2 per month 2. 3-4 per month 3. 6-9 per month 4. 10-15 per month #webclinic
  27. 27. Factor #1: Decision Cycle Estimated Monthly Revenue vs. Email Send Frequency 100,000 90,000 80,000 Estimated Revenue ($/mo) 70,000 60,000 50,000 40,000 30,000 20,000 10,000 0 2 4 6 8 10 12 14 Send Frequency (sends/mo)• Projected monthly revenue rose consistently with increasing send frequency and the amount of sends did not have a significant impact on the overall rate of transaction. #webclinic
  28. 28. Factor #1: Decision Cycle Average No. Unsubs Per Month at Each Send Frequency 3,500 Ave No. Unsubs. per Month 3,000 2,500 2,000 1,500 1,000 500 0 2 4 6 8 10 12 14 Send Frequency (sends/mo) • Though projected unsubscribes rise with more sends… #webclinic
  29. 29. Factor #1: Decision Cycle • …the unsubscribe rate on a per-message basis does not rise significantly. • This does not suggest a greater level of irritation, but rather simply more unsubscribe opportunities offered at higher frequencies. #webclinic
  30. 30. Factor #1: Decision Cycle • Open-rate also does not appear to be significantly influenced by send frequency within the range of frequencies tested. • There is no significant correlation evident between send frequency and open rate. #webclinic
  31. 31. Factor #1: Decision Cycle 3x Increase in Projected Monthly Revenue Increasing email frequency yields three times the projected revenue Estimated Monthly Revenue vs. Email Send Frequency Estimated Revenue ($/mo) 100,000 80,000 60,000 40,000 20,000 0 2 4 6 8 10 12 14 Send Frequency (sends/mo) Whatayou need to understand: Whenthree times the amount of of once week this company is missing sending email at the rate revenue it could be making if sending once every other day without negatively affecting unsubscribes or opens. #webclinic
  32. 32. Factor #2: Utility #webclinic
  33. 33. Factor #2: Utility Promotional Useful • Direct Offers • Newsletters • Deals/Sales • Articles • Product Launches • Content Digest • Coupons • Announcements • Requests for action • Customer Service #webclinic
  34. 34. Factor #2: Utility Promotional Useful • When the nature of product becomes more complex, is a bigger purchase commitment, and has a longer sales cycle, it will necessitate a focus on high utility emails. Essentially this is lead nurturing. #webclinic
  35. 35. Factor #2: Utility Promotional Useful • When the nature of product becomes less complex, an easy purchase decision, and is purchased often, it will permit a more promotional email strategy. #webclinic
  36. 36. Factor #3: Relevance #webclinic
  37. 37. Factor #3: Relevance Key Principles 1. The relevance of an email can be based upon 1) the internal motivations of the recipient and 2) the external events surrounding a recipient. The timing of your email must account for both. #webclinic
  38. 38. Factor #3: Relevance Internal Relevance External Relevance • Personal interests • Seasonality • Demographics • Special discounts • Shopping habits • Limited-time offers • Personality • News events • Communication styles • Competitive initiatives • Level of engagement #webclinic
  39. 39. Factor #3: Relevance Example – Case Study5 Key Email Segments: Current Current Lapsed Lapsed Has Never Subscriber Subscriber Subscriber Subscriber Subscribed Never Has Has Given Never Has Has Given Has Given Given a Gift a Gift Given a Gift a Gift a Gift • This company segmented the current email list into five distinct groups (as seen above) for a holiday email campaign. • They sent targeted email messages relevant to each group. #webclinic
  40. 40. Factor #3: Relevance Example – Case Study Email Sample Current Subscriber Has Given a Gift External Relevance: Uses the holiday season to motivate recipients – “It’s already too late to send through snail mail…” Internal Relevance: Messaging ties into previous actions of the recipient – “You’ve recently given one of your friends…” as well as appealing to personality – “You know how great it is to be a subscriber…” #webclinic
  41. 41. Factor #3: Relevance Example – Case Study Current Email Sample Subscriber Never Has Given a Gift External Relevance: As before, this email uses the holiday season to motivate recipients. Internal Relevance: Messaging speaks more to the subscriber who hasn’t sent a gift to anyone before – “Did you know you can give a… a subscription to….” #webclinic
  42. 42. Factor #3: Relevance Example – Case Study Experiment ID: TP2004 Record Location: MarketingExperiments Research Library Research Partner: [Protected] Research Notes: Background: A large media company offering a free trial of day trading instructional content Goal: To increase the amount of free trials Primary Research Question: Of the send times tested, which time will result in the highest rate of free trial sign ups for the content? Approach: A/B single factor sequential test #webclinic
  43. 43. Factor #3: Relevance Example – Case Study Product: Equity Screening Database The main offer for this campaign was a free trial giving the reader access to an equity screening database for day traders. #webclinic
  44. 44. Factor #3: Relevance Example – Case Study Email A Email B Send Time: Monday Send Time: Thursday (Beginning of Week) (End of Week) #webclinic
  45. 45. Factor #3: Relevance Example – Case Study 30% Increase in free trial sign ups Sending at the end of the week increased sign up rate by 30% Free Trial Rate Relative Statistical Level Part of Week (%) Difference of Confidence Beginning 4.34% - - (Monday) End (Thursday) 5.65% 30% 95%  What youinvestment opportunities on the weekendsday traders mayare research need to understand: Due to the fact that when markets closed, the email sent on Thursday performed 30% better. #webclinic
  46. 46. Factor #3: Relevance Example – Case Study Why did the end of the week timing win? Closed Stock Market External Relevance • Our researchers hypothesized that this 30% lift in conversion for the Thursday email was due to Day Traders doing their research on the weekends, when markets are closed. • The research offer of the company was relevant to the Source: Wall Street Journal external closing of the markets. #webclinic
  47. 47. Factor #3: Relevance Key Principles 1. The relevance of an email can be based upon 1) the internal motivations of the recipient and 2) the external events surrounding a recipient. The timing of your email must account for both. 2. Relevance is intensified by the importance and urgency of the solution. #webclinic
  48. 48. Question #1: Email Timing and Relevance Urgent Urgent Urgent, and not Important Important Important Not Important Not Important Important, not Urgent not Urgent Not Urgent #webclinic
  49. 49. Factor #4: Nature of Product #webclinic
  50. 50. Factor #4: Nature of the Product Key Principles Email timing is affected by inherit emotional response produced by the a product will affect the optimal time for sending emails: 1. Emotionally Negative (Aging, Health, Mortality) – Optimal frequency will be lower 2. Emotionally Positive (Hobbies, Leisure, Self-improvement) – Optimal frequency will be higher. #webclinic
  51. 51. Factor #5: Expectation #webclinic
  52. 52. Question #2: Email Timing and Expectations Key Principles The expectation of email timing is set by two elements: 1. The implied promise of industry standards #webclinic
  53. 53. Question #2: Email Timing and Expectations Example – Industry Standards Groupon APMEX Expectations related to Expectations related to Precious Coupon Industry: Metals Exchange Industry: • Emails once a day • Timing of an email message can be • Usually in the morning completely tied to unpredictable activity of the market. #webclinic
  54. 54. Question #2: Email Timing and Expectations Key Principles The expectation of email timing is set by two elements: 1. The implied promise of industry standards 2. The implied promise of the email capture form messaging #webclinic
  55. 55. Question #2: Email Timing and Expectations Example – Karma Loop Case Study MarketingSherpa Case Study Record Location: MarketingSherpa Research Library Company: Karma LoopResearch Notes: Background: An e-retailer catering primarily to teen shoppers, their house email list topped 300,000 addresses, yet they felt they were not maximizing the list’s potential. Goal: To increase email revenue by increasing the relevance of their emails. Secondary research question: Can we increase email revenue by increasing the relevance of emails? Approach: Sequential multi-factoral experiment. #webclinic
  56. 56. Question #2: Email Timing and Expectations Example – Karma Loop Case Study • The standard email capture was located on the home page and the navigation throughout the site. • With this prominent placement they successfully captured thousands of email addresses. • However, response was less than optimal because expectations were not set on front end. #webclinic
  57. 57. Question #2: Email Timing and Expectations Example – Karma Loop Case Study On the product landing pages, an email alert specific to the product was added. This achieved four things: • Related the email capture directly to the content on the current page • Segmented the list to include only customers interested in the specific product • Delivered only product- specific emails to this list to improve CTR and conversion rate. • Created the expectation that they would receive an email for timing of sales/new arrivals related to their selected brands. #webclinic
  58. 58. Question #2: Email Timing and Expectations Example – Karma Loop Case Study Email revenue increased 318% The new design increased conversions to sale by 53.3%. Revenue What you need tocapture offer to the relating the email understand: By specific product and timing expectations of potential subscribers, this company was able to increase revenue by 318% and conversions by 53.3%. Before After #webclinic
  59. 59. Evaluating your Email Campaigns #webclinic
  60. 60. Quick Audience Poll Audience Poll: What Web clinic time works ? best for you? #webclinic
  61. 61. February 19-22, 2013 - Las VegasInteractive, How-to Training Sessions on email and Proven Email Strategies, campaigns and tactics yousocial media integration, mobile, list growth tactics, can immediately apply to get more done with fewerrelevancy, deliverability and measurement. people, less time and more limited budgets.Latest 2013 MarketingSherpa Email Research and Interaction with Colleagues sharing successfulBenchmark Data on spending, tactics, conversion campaigns and tactics to inspire and hone yourrates, budgets and more. marketing skills.Interactive Panel Discussions with subject matter Become a Certified Professional by taking a pre- andexperts on optimizing your email program, increasing post-Summit workshops taught by email experts, whoROI, creating relevant contagious content, and more. provide a proven methodology with step-by-step tactics on how to maximize your email results.Extended Face-to-Face Networking Opportunitieswith seasoned professionals, trainers and peers overmeals, breaks and receptions. See More: MarketingSherpa.com/EmailSummit #webclinic
  62. 62. Educational funding provided by… #webclinic
  63. 63. www.act-on.com Sales: 1 877.530.1555Act-Ons fresh approach to marketing automation gives you full, complex-free functionality. With astreamlined user interface and first-rate marketing tools at your fingertips you will be able to: Manage your online Get higher-quality Align sales and Track and measure Marketing leads marketing your results All the tools you need, in Solutions that drive lead Integrations that work >> Real-time, actionable one place >> generation >> reporting >> www.act-on.com | @ActOnSoftware | #ActOnSW
  64. 64. Live Optimization Carpingo Primary objective(s): Drive clicks to contest promotion and reservations Value proposition of email: Carpingo cares about their community and is value-driven Target audience: Members of our car sharing service Page URL: http://bit.ly/V3urlK #webclinic
  65. 65. Live Optimization CR England Primary objective(s): Get people to apply for a job as a truck driver Value proposition of email: Find a job with a national and credible company. Target audience: Truck drivers Page URL: http://bit.ly/TZx1dI #webclinic
  66. 66. Live Optimization Payscale.com Primary objective(s): To get users to fill out our survey Value proposition of email: Find out how much you should be earning Target audience: Career-minded professionals Page URL: http://bit.ly/UqgFcP #webclinic
  67. 67. Live Optimization Goodwill Easter Seals Primary objective(s): Education and engagement Value proposition of email: With your support, people with disabilities can find jobs Target audience: Donors, advocates, volunteers and hiring partners Page URL: http://bit.ly/Y8qErY #webclinic
  68. 68. Live Optimization Puzzle Warehouse Primary objective(s): Sales Value proposition of email: Save money on puzzles and games Target audience: Parents, puzzle lovers and previous customers Page URL: http://bit.ly/TZs98c #webclinic
  69. 69. MarketingExperiments Optimization NewsletterFree subscription to more than $20 million in marketing research Join 89,000 of the top marketers from around the world as we work together to discover what really works. MarketingExperiments.com/subscribe #webclinic
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