Updates and Insights on an Evolving Market Peter Wilson - CEO, LashBack Mailcon, New York July 2018 LashBack’s President and CEO, Peter Wilson, recently had the honor of speaking at Mailcon in New York City. His presentation included high-level insights on the email market ranging from domain and IP relationships to quality and inboxing trends. “There are meaningful variances in the approaches used by mail providers and ESPs,” Wilson says in the presentation. “You need the right data and insights to maximize inboxing.” Also featured in the presentation are detailed graphics based on real data to show how unexpected relationships can lead to actionable opportunities. About LashBack® Founded in 2003 by marketers with a vision of how to make email more safe and effective, LashBack® has grown to become an authority and go-to resource for email compliance and intelligence. LashBack® is a patent-holder with a long history of innovation, collecting and leveraging data, and advocating for best practices. We continue to focus on creative ways to bring insights to our clients with services spanning every aspect of email marketing and a recent expansion into additional digital marketing channels. Whether you represent a large brand or are just getting started -- are more focused on risk or growth -- we have the information and services to help you accomplish your objectives.

1. Updates and Insights on an Evolving Market
Peter Wilson - CEO, LashBack
Mailcon, New York
July 2018

2. July 2018 2
LashBack background
• Based in St. Louis and providing services for more than a decade
• 100+ major brands, agencies and networks as clients
• Providing critical visibility and information to businesses that use email marketing
 Identify and manage compliance issues
 Protect your brands and data
 Assess quality, delivery and partners
 Identify risks and opportunities
OMAC

3. 3
Disclaimer
July 2018
All of the observations in this presentation are based on data received and analyzed by LashBack.
Presentations are intended for educational purposes only and do not replace independent professional
judgment. The observations may be influenced by multiple factors including the date, source, and size of the
data set and your results or experience may be meaningfully different. We do not make any representations
or offer any warranties about the completeness, reliability and accuracy of this information. The information
contained herein may be subject to copyright protection; we believe that LashBack’s use of information and
images herein constitutes fair use, but any use of this content, including work created by LashBack, may
require the express written permission of the copyright holder. We are strong advocates for quality email
marketing and do not advocate the use of any technique or practice in a vacuum or that is counter to
established best practices. Any action you take upon the information presented is strictly at your own risk.

4. July 2018 4
Discussion today
We love data-driven insights. In a relatively short amount of time, we wanted to share some high-level
perspective and explore a handful of relationships that, we hope, show the power of data and analytics.
• The universe and list overlap
• High-level quality and inboxing trends
• Domains, IPs and delivery
• A few ESP trends and insights
 Concluding thoughts and takeaways

6. July 2018 6
The universe and list overlap
• Email marketing is more technical, fascinating and interrelated than many people
recognize
• Visualizations can be a powerful tool to see the whole landscape and unexpected
relationships
• Unexpected relationships can lead to actionable opportunities
Visualizations use Gephi (gephi.org) with Force Atlas layout plugin

7. In this image:
• The red dots represent unique
domains catalogued in a day
• The white lines connecting the
dots show where we saw traffic
flowing from one domain
(redirecting) to another
domain
• The groups that connect to a
single point are publisher
domains redirecting through a
single tracker/platform
• Domains on the outside edge
either didn't redirect anywhere
or were only seen redirecting
to themselves
Visualization of email traffic – one day of domain connections
July 2018 7

8. In this image, you can see about two days’ worth of email panel traffic plotted on a world map by IP
geolocation.
Visualization of email traffic – global email traffic
July 2018 8

9. In this image:
• The red dots are individual
recipients and the blue dots
are domains.
• If blue dots are closer together,
they're sending to the same
recipients.
Visualization of email traffic – list overlap
July 2018 9

10. 10
Visualization of email traffic – list overlap, AARP close-up
July 2018
aarp.org

11. 11
Visualization of email traffic – list overlap, AARP wide view
July 2018
In this image:
• You can see AARP’s domain
relative to all recipients, traffic
and domains

12. 12
Visualization of email traffic – list overlap, AARP email traffic
July 2018
In this image:
• You can see a sample of AARP’s
email sending with the white
lines ending at distinct “To”
addresses

13. Understanding the list overlap visualization - some logical proximities
July 2018 13

14. 14
Unexpected overlap points to opportunities
July 2018
Who are among
the senders that
meaningfully
overlap with
AARP?
PinchMe.com
and
CaesarsGames-
News.com
each have ~15%
overlap with
AARP

15. In this image:
• You can see the proximity of
Match and AARP
• We are going to look closer at
some of the domains around
Match.com
Visualization of email traffic – wide view of AARP and Match.com
aarp.org
match.com
July 2018 15

16. Visualization of email traffic – list overlap of dating and job sites
July 2018 16
• Dating sites are circled in yellow
• Job sites are circled in blue
 There is heavy overlap between dating and employment-related sites.

17. Visualization of email traffic – overlapping non-dating, non-job sites
What other sites and verticals overlap with jobs and dating?
• Apartments
• Media and entertainment (iHeart Radio, WWE)
• Branded resource sites (Quora.com, HuskerOffers.com)
July 2018 17

18. July 2018 18
High-level quality and inboxing trends
• What is the overall state of, and trend in, email quality?
• What is the overall trend in inboxing, by email provider, over the same time period?
• How does frequency (messages per recipient) impact delivery and how does it vary
by email provider?

19. 19
The LashBack Global Quality Index (GQI)
July 2018
• LashBack has developed a quality index using criteria including:
• Blacklisted sending domains and IPs
• The absence of a clear text unsubscribe
• The absence of a list unsubscribe header
• Deceptive subject lines
• Forged send dates
• Authentication failures
• The presence of vulgarity
• Delivery
• Our clients can custom weight the criteria, but using a basic weighting and large data set, we can
provide a unique perspective on the state of, and trends in, overall email quality

20. 20
Quality and inboxing diverging somewhat over last 8 months
July 2018
78.2
76.6
80.2
79.8 80.2
81.4
82.9
83.5
0
10
20
30
40
50
60
70
72
74
76
78
80
82
84
86
17-Oct 17-Nov 17-Dec 18-Jan 18-Feb 18-Mar 18-Apr 18-May
Sum of GQI
Sum of Gmail
Sum of Microsoft
Sum of Yahoo
GlobalQualityIndex
%inboxing
Gmail at 51.3%
Down 10.9%
Yahoo at 48.4%
Up 0.7%
Microsoft at 31.7%
Down 10.2%

21. 21
The impact of frequency (ESP messages/recipient/day), May 2018
July 2018
0
10
20
30
40
50
60
70
80
90
100
1 2 3 7 8 1 2 4 6 1 2 3 4 5 8
Gmail Microsoft Yahoo
Inbox%

22. 22
The last several months show a similar impact for frequency
July 2018
0
10
20
30
40
50
60
70
80
90
100
1 2 3 5 6 7 8 1 2 3 4 6 7 1 2 3 4 5 6 7 8
Gmail Microsoft Yahoo
March
April
May
June

23. 23
Domains, IPs and inboxing
July 2018
It is generally understood that the relationship between domains and IPs, and their age, impacts delivery,
but:
• What does the data tell us about the relationships and age today?
• How does it vary by email provider?
• Are there key thresholds?

24. 24
The impact of domains per IP (1-50) on inboxing
July 2018
0
10
20
30
40
50
60
70
80
90
1 5 9 13 17 21 25 29 33 37 41 45 49
Gmail
Microsoft
Yahoo
Inbox % versus # of domains per IP (1-50), April & May 2018
Between 9-17
D/IP: inboxing
for all three
generally
improve
Between 17-50 D/IP: Gmail and Yahoo delivery
improve in a similar pattern, while MSFT declines

25. 25
The impact of domains per IP (1-10) on inboxing
July 2018
0
10
20
30
40
50
60
70
80
1 2 3 4 5 6 7 8 9 10
Gmail
Microsoft
Yahoo
Inbox % versus # of domains per IP (1-10), April & May 2018
Between 1-5 D/IP:
Yahoo and MSFT inboxing drop
meaningfully, while Gmail
increases meaningfully
Between 5 and 9 D/IP:
All three seem to follow a
tight pattern and to favor 6

26. 26
The impact of domains per IP block on inboxing
July 2018
Inbox % versus # of domains per IP block (class c subnet), April & May 2018
0
10
20
30
40
50
60
70
80
90
100
1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45
Gmail
Microsoft
Yahoo
Between 1-20 D/IPB:
All three generally increase
inboxing
Between 20-45 D/IPB:
MSFT drops ~20, Yahoo drops ~23, Gmail drops ~33

27. 27
The impact of IPs per domain (opposite metric) on delivery
July 2018
Inbox % versus # of IPs per domain (1-100), April & May 2018
0
10
20
30
40
50
60
70
80
90
100
1 10 19 28 37 46 55 64 73 82 91 100
Gmail
Microsoft
Yahoo

28. 28
The impact of IPs per domain on Gmail delivery
July 2018
0
10
20
30
40
50
60
70
80
1 6 11 16 21 26 31 36 41 46 51 56 61 66 71 76 81 86 91 96
Inbox % versus # of IPs per domain (1-100), April & May 2018, Gmail only
Between 45-65
IPs/domain
seems to
receive poor
inboxing from
Google

29. 29
The impact of IP blocks per domain on delivery
July 2018
Inbox % versus # of IP blocks per domain (1-35), April & May 2018
0
10
20
30
40
50
60
70
80
90
100
1 5 9 13 17 21 25 29 33
Gmail
Microsoft
Yahoo
Fairly predictable up to 13 IP
blocks per domain
All three have fairly high volatility above 13 IP
blocks per domain

30. 30
Correlation of IP age (weeks) & inboxing, April & May 2018
July 2018
0
10
20
30
40
50
60
70
80
0 5 10 15 20 25 30
Gmail
Microsoft
Yahoo

31. 31
Correlation of IP age (weeks) & inboxing, Feb & March 2018
July 2018
0
10
20
30
40
50
60
70
80
90
0 4 8 12 16 20 24 28
Gmail
Microsoft
Yahoo

32. 32
Correlation of domain age (weeks) & inboxing, April & May 2018
July 2018
0
10
20
30
40
50
60
70
80
0 4 8 12 16 20 24
Gmail
Microsoft
Yahoo
Yahoo and Gmail both seem to prioritize ~5 weeks,
while MSFT takes a more “steady build” approach

33. 33July 2018
0
10
20
30
40
50
60
70
80
0 4 8 12 16 20 24
Gmail
Microsoft
Yahoo
Correlation of domain age (weeks) & inboxing, Feb & March 2018
A prior period shows a more variability from Gmail, but similar
thresholds ~4-8 weeks and a “steady build” by MSFT

34. 34
A few ESP trends and insights
July 2018
• What ESPs are the most effective at inboxing by email provider?
• Where are there the most significant changes in the last few months?
• A brief look at ESP strategy variances

35. 35
Top 10 ESPs for Microsoft inbox delivery, May 2018
July 2018
69% 68%
64% 64%
56%
48%
47%
35% 34%
31%
0
10
20
30
40
50
60
70
80
MailChimp
eDialog
WhatCounts
ConstantContact
ExactTarget
CampaignMonitor
YesMail
Listrak
SendGrid
iContact
Top inboxing: 69% (MailChimp)
Drop off from #1 to #10: 38%
ESPs above 80%: 0

36. 36
Top 10 ESPs for Yahoo inbox delivery, May 2018
July 2018
95% 95% 94%
87% 87%
83%
79% 79%
76% 75%
0
10
20
30
40
50
60
70
80
90
100
YesMail
eDialog
ConstantContact
Campaigner
WhatCounts
MailChimp
CampaignMonitor
Bronto
ActiveCampaign
ExactTarget
Top inboxing: 95% (Yesmail)
Drop off from #1 to #10: 20%
ESPs above 80%: 6

37. 37July 2018
Top inboxing: 95% (Yesmail)
Drop off from #1 to #10: 19%
ESPs above 80%: 5
Top 10 ESPs for Gmail inbox delivery, May 2018

38. 38
Largest recent changes in ESP inboxing at Microsoft
July 2018
8.6%
27.5%
68.7%
7.3%
21.2%
63.6%
0
10
20
30
40
50
60
70
80
AWeber Bronto ConstantContact
Inbox%
March
April
May
Down 1.3%
Down 6.3%
Down 5.1%

39. 39July 2018
79.8%
64.7% 65.5%65.9%
59.1%
54.4%
0
10
20
30
40
50
60
70
80
90
iContact Maropost VerticalResponse
Inbox%
March
April
May
Down 13.9%
Down 5.6% Down 11.1%
Largest recent changes in ESP inboxing at Yahoo

40. 40July 2018
70.0%
72.4%
35.0%
72.3%
61.4%
82.5%
45.7%
80.1%
0
10
20
30
40
50
60
70
80
90
Bronto Contactology GetResponse Listrak
Inbox%
March
April
May
Up 10.1%
Down 8.6%
Up 7.8%
Up 10.7%
Largest recent changes in ESP inboxing at Gmail

41. 41
Two ESPs with fairly distinct strategies
July 2018
0
10
20
30
40
50
60
70
80
90
100
0
5
10
15
20
25
30
35
40
45 YesMail
SubscriberMail
ConstantContact
eDialog
Contactology
MailChimp
WhatCounts
CampaignMonitor
CoolerEmail
ActiveCampaign
AWeber
MessageSystems
Bronto
Infusionsoft
Listrak
Campaigner
ExactTarget
iContact
VerticalResponse
GetResponse
SendLabs
BlueHornet
SendGrid
Maropost
eROI
%ofIPspaceand%ofvolume
% of Total Volume
% of IP Space
Inbox %
%inboxing
ESP
%
inboxing
% of
volume
% of
IP space
MailChimp 79% 3% 41%
AWeber 70% 39% 2%
Variance 9% 36% 39%

42. 42
A few takeaways
July 2018
• List overlap presents some strong opportunities
• Quality and inboxing have diverged somewhat over the last several months, with quality steadily
increasing and delivery lower for two of the three major email providers
• There are meaningful variances in the approaches used by mail providers and ESPs -- you need the
right data and insights to maximize inboxing
• Gmail’s approach to inboxing continues to be fairly distinct
• Higher frequency to a single recipient can still get good delivery
• Gmail does not inbox well between 45 and 65 IPs per domain
• A summary of the typical impact of domains per IP on inboxing:
Domains/IP 1-5 5-9 9-17 17-50
Microsoft Decreases
meaningfully Follows a tight
pattern and
favors 6
Generally
improves
Declines
Yahoo
Gmail Increases
meaningfully
Gradually
improves
LashBack Global
Quality Index (GQI)
83.5
May 2018
Gmail
inboxing
51.3%
May 2018
Yahoo
inboxing
48.4%
May 2018
Microsoft
inboxing
31.7%
May 2018

43. 43
A few takeaways, continued
July 2018
• Inboxing tends to increase between 1 and 20 domains per IP block, but to fall off significantly
between 20 and 30
• More aging of domains and IPs improves delivery, but, with regard to domains, Yahoo and Gmail
both seem to prioritize ~4-8 weeks
• Microsoft generally has the lowest and most varied delivery by ESPs
• Only three ESPs have 80%+ delivery at Yahoo and Gmail: Yesmail, eDialog and Constant Contact
 There have been a lot of implemented and proposed changes to the email market over the last 6-12
months. We remain big believers in the ROI of email, but its is a highly technical and evolving
market. With greater transparency and analytics, we believe that it can continue to grow and
thrive.