From direct mail to email and everything in between, ThreeBridge can help you develop an optimized strategy for your marketing campaigns, and help you execute and measure results to improve ROI. Read on to find out how we helped the largest employee-owned company doing business in the US and Canada maximize their email open rates and drive sales.
When we first engaged with our client, a US and Canadian consumer product and service provider, they were only three months into their fiscal year, but transactions and dollar metrics were already down 7%. Concerned about performance for the remainder of the year, the client wanted to utilize their email campaigns to drive sales, but they weren’t sure how.
When our client first came to us, they had been following a one-size-fits-all marketing strategy for their products, all of which are solicited exclusively through direct mail and email channels. They were conducting monthly email blasts and direct mail campaigns three times each year to their current customers, but didn’t have the capabilities in-house to measure campaign effectiveness, and were unsure of how, or what, to change within their marketing campaigns to drive more sales. Therefore, they turned to ThreeBridge to measure and optimize email communication effectiveness in hopes of improving transactions and increasing revenue.
When it comes to campaign effectiveness, data shows that in the long run, open rates correlate very strongly with click rates, and click rates correlate very strongly with conversion rates; because our ultimate goal was to drive incremental sales, we implemented a strategy that used email opens as a proxy metric for the client’s email marketing success. Using this success criteria definition, we implemented a multi-step strategy including email customization, database and list management, unsubscribe/opt out management, segmentation, and tracking, reporting, and analysis to identify the optimal combination of timing, product information, and offers, needed to drive incremental purchase transactions.
We first gathered new customer data and entered it into the client’s email database. Consolidating the data on former, existing, and new customers not only helped to grow the target audience and list of potential buyers, but also allowed for the future personalization of emails. While seemingly small, email personalization is a detail often missed by marketers, but it serves as a key component of successful email marketing.
With all of the customer data in one centralized location, we were ready to begin the testing portion of our strategy. One of the client’s main concerns was that their customers would push-back if email frequency exceeded once per month. The fear of “bombarding” customers with unwanted emails is common amongst online retailers – in fact, marketing professionals site “fear of spamming” as the number one reason they hesitate to alter their email campaign frequency, even if they’re unsure if they’re currently campaigning at the optimal cadence. In order to ease these concerns, we conducted a frequency test to determine the optimal delivery frequency for their customer-base. Additionally, we tested various times of the day, days of the week, and weeks of the month to find the optimal sending times. Further tests evaluated various email subject lines, price points, and promotional offers to see which combinations resulted in the most opens, clicks, and ultimately, conversions, or sales.
To the client’s surprise, the results of these tests revealed that their customers were comfortable with receiving multiple emails on a weekly basis. We found they preferred early morning and evening email delivery times, were more likely to open and click through personalized emails, and our analysis found specific categories of customers who responded differently to varying discount levels. Utilizing all of these data points, ThreeBridge partnered with the client to design and send new email campaigns to various customer segments. By the end of their fiscal year, they saw astounding improvement, going from a 7% decline to a 132% increase in email revenue and transactions for the year.
August 21, 2018
Case Studies, Smart Data