#cnx14 - connecting the dots: customer engagement through the email marketing lens

Track: Email Marketing

#CNX14

Connecting the Dots

Customer Engagement Through the Email Marketing Lens

#CNX14

Understand the Customer Lifecycle

Journey

Learn about email engagement

opportunities at each stage

Discuss learnings and findings from campaigns across

the lifecycle

#CNX14

Pamela Dancisin, VP Marketing, Dollar Bank

@Padancisin

pdancisin720@dollarbank.com

www.dollarbank.com

#CNX14

Dollar Bank

• Largest Mutual Savings Bank - $6.7 Million• No shareholders – focused solely on our

customers• Serving Southwestern, PA & Northeastern, OH• Headquartered in Pittsburgh, PA for 159 years• 60+ branch locations• Full Service – regional bank committed to

providing the highest quality banking services to individuals and businesses

• 1999 – Smithsonian Innovation in Technology Awards

• Purchased ExactTarget from CTRAC in 2010

#CNX14

Cara Olson, Director of Direct Marketing & eCRM@EmailGirl

@DEGdigital

colson@degdigital.com

www.degdigital.com

#CNX14

Email Marketing Lifecycle Stages

Retain:Re-engage inactive subscribers.

Acquire:Obtain new subscribers.

Onboard:Make a good first impression, establish the relationship, and set the stage for future communications.

Grow:Convert prospects into customers and expand your relationship with existing customers.

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Engage•Abandoned cart•Birthday program•Browse retargeting•Loyalty program•Newsletter•Product update•Promotional messages•Transactional

Retain•Win back•Re-engagement

Onboard•Cross/up-sell•Welcome series

Acquire•Mobile opt-in•Social opt-in•Web opt-in

LifecycleCampaignExamplesBy Phase

Email Examples

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Email Examples

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Acquiring Banking Subscribers

Account Opening• Branch personnel • Contact Center• Online webpage

Marketing• Understand how customers want to be

contacted• Personalize the experience

Security• Focus on Security• Importance of being able to reach the

customer

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Trigger Emails

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In 15 months we have collected profile data for more than 20% of the list.

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Key Insights• 23% of our list are men• 44% prefer dark wash jeans• 71% prefer flat front pants• Top styles: Regular fit, Relaxed,

Straight

• 77% of our list are women• 40% prefer dark wash jeans• 52% prefer “at the waist”• Top styles: Boot Cut, Straight,

Slimming, Curvy

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Email Examples

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After Account Opening…

• Onboarding emails sent promoting other services

• Mobile apps• IVR• Text Message Banking• Alerts

• Average Open Rate is 65%• Key opportunity to interact with

customers• Maintain consistent messaging across

channels• Clear call to action

• Next phase – encourage updating preferences

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Relevant Promotional Emails

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Engagement Results

No Profile Data

Open Rate: 9.6%

CTR: 1.92%

CTOR: 19.97%

O/D: 0.06%

Customized to Profile Data

Open Rate: 16%

CTR: 5.33%

CTOR: 33.5%

O/D: 0.23%

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Relevant Promotional Emails

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Welcome Series

• Sent immediately• Opt-in sources: Email gate, home

page footer, checkout, registration, Facebook & contests, product microsites, co-registration

• Leads generated via the home page email gate are 4x more likely to convert in the first 6 months than all other lead generation sources

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Welcome Series – Email 2 has 4 versionsNo purchaseNo style quiz

No purchaseCompleted style quiz

PurchasedNo style quiz

PurchasedCompleted style quiz

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Email Examples

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Banking Notification Emails

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Bank Marketing Messages

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Engagement Opportunities

• Personalize emails• Gentle reminder

• “We are your bank”• Services to enhance banking

experience

• KEY: Maintain a good email address and mobile phone number • Able to contact a customer if

these are delivered.• NOTE: Need a process to correct

incorrect email address’• Export a file from ET weekly to

correct email address issues• Create a table of email

address’ to exclude• email@dollarbank.com

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Happy Birthday! Or is it?

• 21% Open Rate• 6.88% Click-through Rate• 32% Click-to-open Rate• Above average revenue• This single email more

than doubled the number of birthdates on file

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Revenue in the last 12 months is 3X what it was in the previous 2 years

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How can we make birthdays come more than once a year?

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Abandoned Shopping Cart

• We were able to recover over 50% more orders each month by reducing the abandoned cart trigger time from 72 hours to 24 hours.

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Email Examples

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Dollar Bank Plans to Re- Engage• Promote New Preference Center

• Send email – please update your information

• Focus on security and options

• Remind customers to update• Key – A/B testing of message and

successful interaction

• Re engagement of existing customers• List hygiene - deliverability• Any customer who hasn’t opened

an email within 6 mos.• Re engagement campaign series

(At least 2 before unsubscribe)• We Miss You• Need to hear from you• Last Chance

• After 12 months w/o engagement – unsubscribe

• Key – A/B testing of message and successful interaction

• Reporting is critical - Discover

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Tips for Re-engagement Campaigns

• Use a shorter template and subject lines that differs from your current emails to try and capture attention

• Focus on one clear call to action. Don’t send only one reengagement email. Test a variety of different content and calls to action to try and reengage subscribers

• Solicit feedback. Understanding why these subscribers stopped engaging can help inform future email program strategy and reduce subscriber inactivity.

• Experiment with the tone and sentiment that will be a good fit for your brand. Test to determine whether your campaigns see a lift with a straight forward approach or a more emotional appeal

• If possible, use any existing data to personalize the email and increase the chance of reengagement. Remind subscribers about the value of receiving emails from your brand.

• Don’t remove subscribers immediately after sending a reengagement campaign. Provide the opportunity for subscribers to reengage with your brand.

• When you remove subscribers, be explicit in communicating next steps and honor those statements. It should be clear at what point email messaging will cease.**Return Path, “Email Win-Back Programs – Everyone recommends them but do they really work”

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Two-Part Win Back

• Email one sent after 120 days of no opens or clicks

• Additional email sent 7 days later if no action on first email

• Inactive group (4-12 months of no activity) mailed less frequently, different subject lines

• Subscribers are suppressed after 12 months of no opens or clicks

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We were able to win back more than 50,000 subscribers in the first five months of the program.This represents about 10% of revenue from email over the following 12 months.

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Naughty or Nice

• Small list size but highly engaged

• Long-term focus is to continually build this list year after year

• Of those who opted in, 14% made more than one purchase in a two-month period

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Email Examples

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Questions?

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Take the after-session survey!

Take the survey in the Connections 2014 Mobile App

Join the Conversation!

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$50StarbucksGift Card

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#cnx14 - connecting the dots: customer engagement through the email marketing lens

vp marketing

service regional bank

dark wash jeans

branch locations

onboarding emails

cnx14trigger emails

new subscribers

pa northeastern

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