using email to get relevant and to get incremental revenue by www velomarketing co_uk
DESCRIPTION
First delivered at eCommerce Expo back in 2008, this presentation covers how pioneering eCommerce companies use targeting and relevant content to drive additional revenue from their audiencesTRANSCRIPT
Using email to get relevant and to get incremental revenue
Paul CrabtreeDirector, Velo//
[email protected] October 2007
[Delivered at eCommerce Expo]
How pioneering eCommerce companies use targeting and relevant content to drive additional revenue from their audiences
Agenda:
1. The Business Case of Relevance
2. The right message: MESSAGE
3. The right people & time: TARGETING
“The right message, to the right
people, at the right time! “
Industry Research tells us it works
Source: “The ROI of E-mail Relevance” Report
MESSAGE
• DESIGN: Making creative work harder
• OFFER: Compelling offers without cannibalisation
Use personalisation and you are 40% more likely to have an average conversion rate of more than 3%
Certain offers work best:
• 67% find discounts most compelling• 55% were motivated by free shipping.
Industry Research tells us it works
• WHO: Reaching appropriate people only
• TIMING: Driving impulse buys
Source: “The ROI of E-mail Relevance” Report
TARGETING
Targeted approach achieves 9 times the response
60% of consumers who made immediate purchases from email did so it contained products they were already considering.
Industry Research tells us it works
Source: “The ROI of E-mail Relevance” Report
Revenues per campaign type
USD45,600.00
USD123,483.00
USD222,970.00
0
5 0 0 0 0
1 0 0 0 0 0
1 5 0 0 0 0
2 0 0 0 0 0
2 5 0 0 0 0
Broadcast Triggered Life Cycle
Combine the factors for
significant up lift!
The Sales Funnel shows it works
…. With this, you can forecast impact on your marketing for example…..
• Delivery rates: inbox placement and bounce rates
• Open rate: driving relevant reads
• Click through rates: design effectiveness
• Conversion rates: into orders and revenue
Delivered
Opened
Clicked
Converted
The Sales Funnel
This information can be supplied by your email partner
Sales Funnel shows it works
Source: Adestra
Caveat
Delivered
Opened
Clicked
Converted
The Sales Funnel
This information can be supplied by your email partner
In this presentation, we will address the bottom half of the funnel BUT don’t forget
delivered
Email Marketing
MESSAGE M
ESSAGE
Is this the extent of your targeting?
Simple targeting models based on demographics or events in the
calendar?
MESSAGE
Is this the extent of your targeting?
And just using personalisation to address to
someone
MESSAGE
…All underpinned by simple data capture?
MESSAGE
…. This is tip of the iceberg
‘Given’ Data
• Demographics
• Personal Data
• Purchase History
Your Data
• Product inventory
• Pricing offers
• Related Products
‘Snooped’ Data
• Behaviour on email
• Web analytics data
Your available data set
Accountancy Systems
Marketing Database
Web site
Product Catalogue
More data = more triggers and more relevant
communications!
Web Analytics Provider
Email Service Provider
Email Marketing
MESSAGE
Dynamic Content to create relevant email creative:
• Highlight offers
• Sequence Advice
• Push images
Making them work harder: using conditional content
• Results confined: Dynamic content twice as effective (2.9% versus 5.8%)
MESSAGE
All this relies on accurate data
• Increased competition from free papers in London• Need to drive news stand sales via email• How to enrich data profile of contacts captured through quizzes etc
More information: http://www.broadsystem.com/casestudies/ourclients_timesemail.htm
SOLUTIONS: Cleaning strategies
SOLUTION: The TIMES PREVIEW
Content based on age, sex and location
THEN
Content further refined based on recipient interests
MESSAGE
Results
• Significant open rates:
From between 15-20% to 40-50%. • More news stand sales:
50% of those reading their Times Circle emails agree that receiving them make them more likely to purchase The Times or Sunday Times newspaper.
More information: http://www.broadsystem.com/casestudies/ourclients_timesemail.htm
SOLUTIONS: Cleaning strategies
MESSAGE
Encouraging recipients to clean their data in return for more relevant communications can be self perpetuating
Email Marketing
TARGETING
TARGETING
When do you send?
Emails every Friday….
Emails on a Thursday….
Emails at the start of the month….
TARGETING
We send when we want, not when they want
Number of unique campaigns launching by hourLast 2 weeks
0
5 0
1 00
1 5 0
2 00
2 5 0
3 00
3 5 0
4 00
0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
What governs when to send at the moment?
We send when we want, not when they want
To…. Self Selecting Programs
Recipient Action
EMAILRecipient action
• Thank you for registering
• Abandon Cart campaigns
• Reactivation campaigns
• Purchase confirmation
Company action • Event conducted
• Products shipped • Service delivered
Company Action
TARGETING
Your targets become self selecting!
Welcome back!
“How was it for you?”
Self Selecting Program: Post Purchase Follow up
TARGETING
Cross sell in customer service
TARGETING
Abandon Basket Program
TARGETING
Segmentation:
All contacts who targeted everyone who had abandoned their basket over a 3-day period.
Message:
Personal letter style with no images bar the company logo to differentiate from normal marketing. No offer, just reminded them that products were in basket
Once set up, only tinkering!
Planning Design DataOptimis
ation Sending ReportingRefinement
Planning Design Data Optimisation Sending Reporting Refinement
One a program is created, no need for ongoing campaign production apart from refinement!
Email 2-Extra incentive
Week 1
Resend (?)
Email sendEmail 3
- Extra incentive Offer ending
Non open
Unsubs
Open, click, subscribe
Open, click, subscribe
Open, click, subscribe
Unsubs
Non open
Week 2 Week 3 Week 4
Telesales(?)
DM(?)
Email 5- Survey
Open/Click
Abandonedsubscribe
Open/Click
Abandonedsubscribe
Email 4- Loyalty
This model can even apply to simple newsletter programs
TARGETING
Timeline of Clicks
0
1 0 0
2 0 0
3 0 0
4 0 0
5 0 0
6 0 0
01-J ul 02-J ul 03-J ul 04-J ul 05-J ul 06-J ul 07-J ul 08-J ul 09-J ul 10-J ul 11-J ul 12-J ul 13-J ul 14-J ul 15-J ul 16-J ul 17-J ul 18-J ul 19-J ul 20-J ul 21-J ul 22-J ul 23-J ul 24-J ul 25-J ul
Clicks (Campaign 1)
Clicks (Campaign 2)
First step: Is there an opportunity between sends?
What we’ve covered
1. The Business Case of Relevance
2. The right message: MESSAGE
3. The right people & time: TARGETING