Beyond the Open Rate: It's Time to Think Reach Frequency and Impact
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What would you do if you found out that 1% of your email list was generating 20% of your revenue? You might target your big spenders in a different way or develop products aimed specifically at them; alternatively, you might look at ways of persuading the other 99% of subscribers to buy more. Both of these options rely on knowing which customers are your most valuable – but with only the blunt instruments of open and click rates available to you, you simply can’t tell. When we rely on these metrics to measure success we end up with “one size fits all” communications: any serious knowledge of our audience begins and ends with the registration process.
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Beyond the Open Rate: It's Time to Think Reach Frequency and Impact
- 1. Beyond the Open Rate: It’s Time to Think Reach Frequency and Impact! Presented by: Dela Quist @DelaQuist http://uk.linkedin.com/in/delaquist CEO Alchemy Worx @alchemyworx
- 3. How Much Time Do You Spend on Email
- 4. DMA / fast.MAP Email Tracking Study
- 5. When It Comes To SL’s People Are People B2B B2C
- 7. “Promoting the mundane is really boring. It’s much easier to promote new [hot] stuff, especially when there’s no ROI.” Warren Buffet
- 9. People Hate Too Much Email DMA Email Benchmarking Report
- 10. 5c/click
- 11. Standing Out In A Crowded Inbox?
- 12. DMA / fast.MAP Email Tracking Study
- 13. DMA / fast.MAP Email Tracking Study
- 14. People’s view of frequency is subjective • Trusted brands treated differently • Brand advocates underestimate frequency • Sign up to very few 10 or less so inbox is competition free • Email from trusted brand much more likely to be called relevant • Seasonality
- 15. Current Thinking Dominated By DM Techniques - RFM Relevance Timing Triggered messaging Behavioural targeting
- 16. In Effect What We Are Trying To Do Is Get Everyone To Open, Click And Buy Every Time They Get An Email From Us - By Sending Fewer And Fewer Messages!
- 17. Time for a rethink? Cost to create & send Direct Mail = $ 1 – 5..10..20….? Cost to create & send email = $ – 0.0005
- 18. Branding is about influencing behaviour Relevance and timing are about being influenced by behaviour 18
- 19. Target Setting • Send Volume can be easily altered by you and has a very strong influence on the number of subscribers opening each message. • In order to elicit an open from the subscriber base, you need to send 6 messages • In order to generate a single click, you need to get 4 opens • These measures can be used by you to determine the volume of messages that need to be sent in order to meet open and click based targets.
- 20. Calculation of Secondary KPIs Sent • On average, to generate an additional £100 in revenue, you will need to: – Send 335 messages – 48 opens – 7 unique clicks – 10 total clicks – 1 unique transaction – 1 purchaser Sent Sent
- 21. Email Has A Veeerrrry Long Response Tail
- 22. Purchase From Time Of Deployment
- 23. Purchase From Time Of Last Click
- 24. DMA / fast.MAP Email Tracking Study
- 25. Not All Opens And Clicks Are Equal
- 26. Purchase To Click Ratio Over Time
- 27. Purchase To Open Ratio Over Time
- 28. Why are we so obsessed with open rates?
- 29. The Vast Majority Of Email Does Not Get Opened, No Matter Who You Are Or What You Do
- 30. In The Inbox, The Subject Line Is The Only Part Of Your Message You Can Guarantee Will Be Seen
- 31. The Nudge Effect: Subject Lines Influence Non- openers Too
- 32. 2011 DMA Email Tracking Study
- 33. Standing Out In A Crowded Inbox?
- 34. More Than 1 Chance To Make A Difference
- 35. More Than 1 Chance To Make A Difference: Make Them Work Together
- 36. More Than 1 Chance To Make A Difference
- 37. More Than 1 Chance To Make A Difference
- 39. Snippets Count – Use Them Too
- 40. Multiple Proposition Sl’s - Can Be Very Long Gilt Group emails
- 41. DMA / fast.MAP Email Tracking Study
- 42. View from the Mobile
- 43. View from the Mobile
- 44. DMA / fast.MAP Email Tracking Study
- 45. BRANDING = Reach Frequency Impact Email should be the Database Size primary means by which Order of Importance someone you already Send Frequency know, visits your site or interacts with your brand Subject Lines online. Data Segmentation Offer & Creative
- 46. Contact details & further reading WHITE PAPER: SUBJECT LINES LENGTH DOES MATTER HOW TO CREATE AN EFFECTIVE SUBJECT LINE METHODOLOGY THE SECRET POWER OF THE UNOPENED EMAIL THE BEST SUBJECT LINE SEPARATORS WHAT WORDS SHOULD I AVOID IN MY EMAIL SUBJECT LINE TO ENSURE I GET TO THE INBOX? EMAIL: DELA@ALCHEMYWORX.COM LINKEDIN: HTTP://UK.LINKEDIN.COM/IN/DELAQUIST TWITTER: @DELAQUIST @ALCHEMYWORX
- 47. More Email-Worx: Weekly newsletter for email marketers Subscribe at http://www.alchemyworx.com Articles and blog posts by Dela Quist What to do about inactive subscribers Maximising ROI without overmailing – how to determine the right send frequency for your email campaigns Lies, Damn Lies and Statistics relating to Email The Nudge Effect in Email Marketing Forget Relevance it’s about value! 47