Published on March 7, 2014
By Mike Biscotti
• Sr. Account Manager At Miva Merchant • 10 years experience developing eCommerce Platforms Major Retailers SMB Market • Email Campaign Manager for • Target, • Best Buy, Toys “R” Us • http://www.linkedin.com/in/mikebiscotti • @MikeBiscotti
• • • • • • • • Is Email Marketing Really “King”? Necessary Investment for successful Email Marketing Conversion Rates Benchmarks you need to know Strategy What’s new in 2014 Real World Examples Conclusion/Questions
• • • • According to B2C.com, Email Marketing accounts for 7% of all new customer acquisitions, organic search via Google accounts for 16% Email generates 40 times more customers than twitter and facebook combined – Media Bistro 1/21/14 94% of Online Activity is Sending or Reading Email hostpapa.com 75% of all online adults say email is their preferred marketing method hostpapa.com
All Incomes: • 13.8% Email • 13.5% Facebook • 1.9% Twitter Those who earn over $100k/yr • 33% Email • 5.6% Youtube • 0% Facebook & Twitter “The winning strategy for entrepreneurs and Fortune 500 companies alike is to attract a base of raving fans that open, read, and click on the emails you send.” - Jack Born, CEO of AW Pro Tools
Strategy Know Your Data
All Industries Averages: • Open Rate = 13% - 24% • Bounce Rate = 6% - 12% • Click Through Rate = 5% - 20% • Opt-out Rate = 0.11% 0.44% Retail Average: • Open Rate = 18.01% • Bounce Rate = 6.95% • Click Through Rate = 13.99% • Opt-out Rate = 0.21%
• Conversion rate should be 1-5% • Define conversion rate Purchase Awareness Campaign Measure against ROI
• Offer an Incentive for signing up Promise of a discount/free item Let them know why they should sign up • Make it easy to find Add sign up widget on Facebook Visible on your site Multiple opportunities to sign up Home Page - Checkout - User Registration - Wish List - Customer Service • Make it easy to Sign Up One click, or only ask for relevant info
• • • • • • • • Subject line length Ask a Question Put the promo at the start of the phrase “25% off…” Urgency i.e. “deal ends at midnight” Send it at the right time of day/week Qualify your list and send quality content Take out the spam words DON’T YELL
• A/B and Multivariate Testing Length of copy Number of images Image placement Call to action: color/placement/wording/quantity Plain Text vs. Rich text vs. HTML Time of Day (early, mid, late), Day of the week (M > F?)
• Use both contextual text (bold words within HTML) and image CTA's. • Use linked snippet text as a preheader above any image that needs to be loaded which extends the proposition from the subject line and explains clearly what the email contains.
• Move away from the traditionally old fashioned publishing schedule of weekly/bi-weekly/monthly - to one based on when you have good content to send. • Include a "benefit to recipient" clause or “value proposition” in your content selection and publishing guidelines. Each email MUST contain something that is genuinely intended to deliver a palpable reward to recipients.
• Implement full responsive email designs (at the very least mobile optimized) • More than 50% of users check email on their Smart Phones and Mobile Devices Performancein.com
• • • • Have 24% higher Open Rates compared to Newsletters Have 47% higher CTR compared to Newsletters Average Auto Responder sequence has 8 messages and is 49 days long Initial Messages perform best. As time goes by the subscribers’ engagement gradually fades.
• Utilize 3rd party vendors for add-ons to augment Miva ETM • Miva has basic trigger emails out of the box • Examples of additional Intuitive Triggers not provided by Miva: Birthday Messages Reminder Campaigns Time to Reorder Campaigns Shopping Cart Abandonment Profile Update • Click Stream data and transactional history to create marketing programs and messages that are personalized • Open Rates for ETM increased 84% over batch messaging • CTR for ETM increased 32% MarketingSherpa
• • • • If you collect data at sign up, make sure it is relevant What are their preferences? Use purchase history to develop targeted campaigns Aspire for a 1:1 relationship/experience
• $2 billion will be spent on email marketing Forrester Research • The average person dedicates 13 hours a week to email McKinsey Global Institute • In 2014, expect to see new marketplaces for email that copy the advances that have been made on display and search. PerformanceIn.com • Video in email is a growing trend. 25% of marketers use it. MarketingProfs • Event-triggered emails-Previous customer behavior triggers a targeted and relevant email campaign which results in what the marketer has predicted. • In December 2013, Gmail blew up email marketing by caching all images on Google Servers Arstechnica.com
1. Sending Too Many Emails to Your Entire User Base 2. Sending Without Permission 3. No Call to Action 4. No Segmentation of Target Audience 5. No Optimization for Mobile Emails 6. Content Errors 7. Landing in Junk Mail 8. Not Gauging the Effectives of Your Campaign 9. Over-Promising Subject Lines 10.Not Sending Emails at the Right Time
• • • • No One Size Fits all solution Focus Your Marketing on What Actually Works and Generates Results A/B testing with Email is relatively inexpensive Don’t have time/money to A/B test? Subscribe to your competitors email and imitate them. • Even on a shoestring budget, you can run a successful email campaign and continue to increase your conversion rate by reviewing your data • Miva can help!
• Miva Email Design Example • Miva Email Design Example
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