Digiday and IBM Marketing Cloud: Email marketing benchmark webinar
Transcript of Digiday and IBM Marketing Cloud: Email marketing benchmark webinar
2016 Email Marketing Benchmark Study:
How Do You Measure Up?Jay Jhun | @emailrocks
@emailrocks @IBMforMarketing #NewWaytoEngage
Today’s Presenter
Jay Jhun, Account Director@emailrocks
IBM Marketing Cloud@IBMforMarketing
@emailrocks @IBMforMarketing #NewWaytoEngage
Today’s Agenda
Selected Metrics & Tips
Background for the Report
How to Use the Results
Are we just average?
Or a top performer?
Where are the
opportunities?
Benchmark data can help answer these questions …
… but benchmarks are most valuable when you use them to take your marketing
program to the next level.
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What We Did
• Asked clients to opt-inPermission
• Ran the scriptsData
• Sliced, diced and organizedAnalysis
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Overview of Benchmark Study
750+ Companies (Nearly 3,000 Brands) – 40 Countries
Full Year 2015 Data
US Canada
Categorized into 18 IndustriesAustr
alia /
New Zeala
nd
Rest of
World
UKRest
of Europe
Midd
le East
/ Nort
h Afric
a
Overall
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Study Report Contents
Do you really want to be average?
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Metrics Sliced 4 Ways
Top Quartile Bottom Quartile
Mean Median
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Today’s Agenda
Selected Metrics & Tips
Background for the Report
How to Use the Results
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Open Rates
• Unique Open Rates by Region• Unique Open Rates by industry• Transactional Open Rates
Unique Open Rate: 21.8% (mean); 41.8% Top Quartile
Open Rates by Industry
• Top performer:Schools & Education
• Bottom Performers:Agencies; Media Publishing
Transactional – Leveraging High Open Rates
7 of 10 for top performers
Opportunity is to maximize cross/upsell with transactional messages
The relevance of transactional messages –
the anticipation – provides a significant lift
Increasing Open Rates
Subject Line Testing
Understand Impact of Frequency
Build Brand Value Through
Content / White Space Active /
Inactive Segmentation
Optimize Pre-Header
Text
Pre-header text includes product detail
and price
Pre-header text is wasted
Pre-header text includes sale urgency,
but then wastes opportunity
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Click-Through Rates
• Click-Through Rates (CTR) by Region• CTRs by Industry• CTR Transactional• Click-to-Open Rate (CTOR) by Region• Click-to-Open Rate (CTOR) by Industry• CTOR Transactional
Top Quartile is nearly 6 times median CTR
CTOR = clicks as a percentage of opens; aka ‘Effective Rate’
Top Performers: 1 of ~3 recipients that open; click
Median: 1 out of ~10 recipients that open a message, also click a link
Top Performers: Nearly 43% of openers also click
Opportunity to include: - Product usage tips
- Cross sell
Horizontal “sections”
Big, finger-friendly buttons
Website/emails use same button
Heat map lessons:
• Shoppers look for discounts first
• CTA beneath it gets higher
conversion/lower bounce rate
K.I.S.S.
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List Churn
• Hard Bounces by Region• Hard Bounces by Industry
• Unsubscribes by Region• Unsubscribes by Industry
• Complaint Rates by Region• Complaint Rates by Industry
13 of 10,000 = Mean; Bottom Quartile = 44 of 10,000
Unsubscribe Rates by Industry
• MeanLow ~0.05% High ~0.20%
Reducing Unsubscribes
Leverage Behavior & Automation
Manage Expectations
Offer Alternatives to
Opting OutUse Content to Increase Value
Device/Client & Engagement Rate
• Device/Client by Region
• Device/Client by Industry
• Engagement Rate by Region
• Engagement Rate by Industry
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49% = Avg. Mobile Readership
Devices by Industry
•Highest Mobile:Food Service, Sports & Entertainment
Lowest Mobile:Computer Hardware & Telecommunications
Engagement Rate Defined
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US Low & Rest of Europe & Aus/NZ High
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Engagement by Industry
• Insurance = Highest Read Rate + Lowest Glanced/Deleted
• Schools & Education = Lowest Read Rate + Highest Glanced/ Deleted
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Making Visual Impact
My friend had the basic pulled pork sandwich, which was very tender and juicy. I had the spicy pork sandwich with homemade kimchee on top. It was juicy and mildly spicy with a beautifully fresh crunch to the bite.
“Eliminating friction is more important than engagement.”Ryan Barley, Director of Mobile-Staples
Holiday vs. Non-holiday – Retail/Ecommerce Brands
• Open Rate• Click-Through Rate• Click-to-Open Rate• Hard Bounce• Unsubscribe Rate• Complaint Rate
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Mean Open Rate Much Higher During Non-Holidays
3.3 percentage points / 18.8 percent higher
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Click-Through Rates
0.8 percentage points / 28.6 percent higher
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Non-Holidays has higher unsubscribe rates, but …
0.014 percentage points / 12.1 percent higher
Rate Goes Down
Cumulative total goes
up
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Selected Metrics & Tips
Background for the Report
How to Use the Results
1. Understand these are “process” metrics
Diagnostic: How elements of your email program drives success
Creative / Design Offers / Content Deliverability / List Hygiene
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2. Benchmark Against Similar Industries
3. Benchmark Against Top Quartiles – Imagine What’s Possible
4. Use it to ask for budget & resources
4. Use the data to lobby
for more budget &
resources
5. Focus efforts on REALLY big issues/
opportunities
Web Tracking
Send TimeOptimization
AutomationA/B Testing
Scoring
DynamicContent
Personalization
Relational Tables
API / Partner Integrations Web/Progressive Forms
Social Integrations
6. Use your ESP/MA tools to improve results
7. Celebrate and get promoted!
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Q&A
Slides and the full benchmark report will be made available after the webinar
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Jay Jhun@emailrocks @[email protected]
Thank You!
Interested In Learning More?
bit.ly/IBMforMktgResources
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