1、Email Marketing:The Dos and Donts for a Sustainable Engagement Strategy Benchmarks and Insights From Analyzing 312.4 Million Consumer Emails on What Works and Doesnt to Accelerate Customer Engagement!U S A A N D C A N A D A E D I T I O NOpenedYour curated playlist01Email Marketing:The Dos and Donts

2、for a Sustainable Engagement StrategyWhats InsideClick to navigateIntroductionAbout the ReportTypes of Emails ComparedEmail Marketing Benchmarks for Different IndustriesBest Practices for Email Marketing Using a CEPEmail:The Unsung Hero of the Digital AgeAbout MoEngage Retail and E-commerce Industry

3、 Banking and Finance Industry Media and Entertainment Industry Lifestyle Industry 030305070708091012141401Email Marketing:The Dos and Donts for a Sustainable Engagement StrategyIs email marketing dead,or is it still relevant?This question has surely been on every marketers mind for a while.So,we ana

4、lyzed 312.4 million emails sent to customers in the USA and Canada via the MoEngage platform to find out.The verdict?Despite the exaggerated claims about the death of email,email marketing is as robust as ever.But theres a catch.Some studies indicate that an average person receives more than 120 ema

5、ils daily(without including spam).With numerous brands constantly bombarding email inboxes,a personalized approach to email marketing is the only way your emails can cut through the noise and truly make an impact.This report dives into email personalization,exploring how various approaches to person

6、alization impact key email marketing metrics.We also provide industry benchmarks for comparison and guide you on optimizing your email strategy by leveraging a customer engagement platform(CEP).This will empower you to learn,adapt,and better engage your customers based on customer behavior and journ

7、ey nuances.Introduction*Conversion rates can mean different things for different verticals.For example,for an E-commerce brand,it can be an item purchase;for a Bank,it could be a credit card purchase;for an OTT brand,it could be a successful subscription renewal;and so on.This report analyzesThe aim

8、 is to identify industry-based benchmarks for open rates,click-to-open rates(CTORs),conversion rates*,delivery rates,and unsubscribe rates for emails not employing personaliza-tion versus those incorporating different levels of personalization.Furthermore,the report covers best practices for optimiz

9、ing emails using a customer engagement platform.*Conversion rates can mean different things for different verticals.For example,for an E-commerce brand,it can be an item purchase;for a Bank,it could be a credit card purchase;for an OTT brand,it could be a successful subscription renewal;and so on.Ab

10、out the Report312.4 millionsent over the past 12 months across the US and Canada via the MoEngage Platform.0304How to Read This ReportIn this report,weve compared the performance of generic broadcast emails vs.personalized emails to see the impact on email performance by different types of personali

11、zation.Weve dissected the impact of three types of personalization:Attribute-based Personalization,Behavior-based Personalization,and Customer Journey-based Personalization.For each type of email,youll find industry-specific benchmarks for open rates,CTORs,conversion rates,and unsubscribe rates.Base

12、d on these,you can check which type of personalization works best for your industry.Apart from looking at these benchmarks,you will find best practices for using a customer engagement plat-form to enhance your email marketing strategy and generate highly engaging emails for your customers.Email Mark

13、eting:The Dos and Donts for a Sustainable Engagement StrategyRetail and E-commerceLifestyleMedia and EntertainmentIndustries Included Banking and Finance05BroadcastBroadcast emails are those that are sent out to a large audi-ence without segmentation or personalization involved,often resulting in re

14、cipients finding the email irrelevant.These can include emails for product launches,business expansion announcements,generic offers,event invites,etc.Attribute-based PersonalizationEmails incorporating Attribute-based Personalization take distinct attributes of each customer to create a tailored exp

15、erience.For example,emails are customized based on the recipients name,gender,age,profession,and language.investigoHey Alex,Wondering what investments your peers are making?Check out this detailed report where weve split investment habits based on age group,income,and locality.Theres a section weve

16、highlighted for consumers just like you!Check It ut NowAlex,discover how your investment habits compare.to MoeShopNew Collection Alert!MHey there,Were excited to announce our latest summer collection,featuring clothing,accessories,and footwear for men,women,and children.Visit our website or store to

17、 check it out.We offer competitive prices and a hassle-free shopping experience.Contact us if you have any questions.Start Shopping Right AwayMoeShopShop NowTypes of Emails Compared*Weve identified the four most common types of emails marketers send.You can find the difference between the three belo

18、w.Email Marketing:The Dos and Donts for a Sustainable Engagement Strategy06 Journey-basedPersonalizationNow that you understand the difference between each email type,lets examine industry-specific benchmarks.Emails incorporating Journey-based Person-alization are the most contextual and consid-er m

19、ulti-step customer journeys.This involves sending various message versions to customers across different channels at different times,based on each customers lifecycle stage.Emails that utilize this strategy perform much better as brands address specific customer needs and preferences via the right c

20、hannels at the right time.Behavior-based PersonalizationEmails incorporating Behavior-based Personalization are tailored to individual customer preferences,actions,purchase trends,and overall behavior.For example,an email reminding customers to refill their wallet balance before it runs out during a

21、 necessary purchase.Or an email telling customers about the opening of a branch of their favorite sushi restaurant just around the corner.to TechnoBuzzPsst!We saved your cart+a special offer inside.THey Haley,We noticed that you forgot something in your cart!Dont let it go out of stock.Heres a 10%of

22、f discount to help make checkout easier.Use code:CART10 at checkout.But hurry,its only valid for the next 24 hours!Shop now and snap up your favorites before its too late.Complete Shopping Nowto AudiokastPlaylists as unique as you.AudioKastAHey Luke,Weve curated a chill playlist just for you!It comb

23、ines new and old songs from your favorite pop artists.Its everything you love in one place.What are you waiting for?Listen to It NowEmail Marketing:The Dos and Donts for a Sustainable Engagement StrategyRetail and E-commerce Industry07Takeaways and Actions:Broadcast emails have the highest unsubscri

24、be rate and the lowest performance in terms of open rate,CTOR,and conversion rate,for the industry.Therefore,you need to exercise extreme caution when sending them.Emails incorporating Journey-based personalization work best for the Retail and E-commerce indus-try when it comes to open rates and CTO

25、R.However,from a conversion rate and unsubscribe rate point of view,emails with Behavior-based personalization seem to perform better.If your primary goal is to nurture leads or engage customers,you can leverage emails with Journey-based personalization.On the other hand,if your main goal is lead ge

26、neration or getting conversions,then you can opt for Behavior-based personalization.Nevertheless,using A/B testing is recommended as email performance can differ based on each use case and conversion goal.Open RateBroadcastAttributebasedBehaviourbasedJourneybasedCTORBroadcastAttributebasedBehaviourb

27、asedJourneybasedConversion RateBroadcastAttributebasedBehaviourbasedJourneybased1.2X1.1X1.3X8X3.4X14X16X3.1X9.6X0.5%0.3%0.4%Unsubscribe RateBroadcastAttributebasedBehaviourbasedJourneybased30.58%31.48%37.55%40.87%13.81%7.77%3.29%0.97%1.72%3%0.55%0.18%0.3%0.43%0.52%1.1%Email Marketing Benchmarks for

28、Different IndustriesThe Impact of Personalization for theEmail Marketing:The Dos and Donts for a Sustainable Engagement StrategyBanking and Finance Industry08Takeaways and Actions:Broadcast emails have the highest unsubscribe rate and the lowest performance in terms of open rate,CTOR,and conversion

29、rate,for the industry.Therefore,you need to exercise extreme caution when sending them.Open RateBroadcastAttributebasedBehaviourbasedJourneybasedCTORBroadcastAttributebasedBehaviourbasedJourneybasedConversion RateBroadcastAttributebasedBehaviourbasedJourneybased1.2X1.1X1.4X3X1.1X3.7X2.2X1.4X3.3X0.9%

30、0.7%0.4%Unsubscribe RateBroadcastAttributebasedBehaviourbasedJourneybasedJourney-based emails seem to work best for the Banking and Finance industry across all email metrics.Nevertheless,using A/B testing is recommended as email performance can differ based on each use case and conversion goal.25.04

31、%26.42%29.45%36.21%15.14%12.36%4.66%4.12%11.74%7.83%5.06%3.56%0.2%0.1%0.25%0.27%The Impact of Personalization for theEmail Marketing:The Dos and Donts for a Sustainable Engagement StrategyMedia and Entertainment Industry09Takeaways and Actions:Broadcast emails have the highest unsubscribe rate and t

32、he lowest performance in terms of open rate,CTOR,and conversion rate,for the industry.Therefore,you need to exercise extreme caution when sending them.Open RateBroadcastAttributebasedBehaviourbasedJourneybasedCTORBroadcastAttributebasedBehaviourbasedJourneybasedConversion RateBroadcastAttributebased

33、BehaviourbasedJourneybased1.5X1.5X1.8X1.4X1.1X2.8X0.6%0.6%0.4%Unsubscribe RateBroadcastAttributebasedBehaviourbasedJourneybasedJourney-based emails seem to work best for the Media and Entertainment industry across all email metrics.Nevertheless,using A/B testing is recommended as email performance c

34、an differ based on each use case and conversion goal.23.99%35.12%35.86%42.74%5.28%2.61%1.92%1.89%5.3X1.6X13.8X25.45%9.81%2.92%1.85%0.32%0.25%0.35%0.56%The Impact of Personalization for theEmail Marketing:The Dos and Donts for a Sustainable Engagement StrategyLifestyle Industry10Takeaways and Actions

35、:Broadcast emails have the highest unsubscribe rate and the lowest performance in terms of open rate,CTOR,and conversion rate,for the industry.Therefore,you need to exercise extreme caution when sending them.Emails incorporating Journey-based personalization work best for the Lifestyle industry when

36、 it comes to open rates and CTOR.However,from a conversion rate and unsubscribe rate point of view,emails with Behavior-based personalization seem to perform better.Open RateBroadcastAttributebasedBehaviourbasedJourneybasedCTORBroadcastAttributebasedBehaviourbasedJourneybasedConversion RateBroadcast

37、AttributebasedBehaviourbasedJourneybased2X1.5X2.3X5.2X1.4X8.9X13X2.8X3.4X0.7%0.2%0.4%Unsubscribe RateBroadcastAttributebasedBehaviourbasedJourneybasedIf your primary goal is to nurture leads or engage customers,you can leverage emails with Journey-based personalization.On the other hand,if your main

38、 goal is lead generation or getting conversions,then you can opt for Behavior-based personalization.Nevertheless,using A/B testing is recommended as email performance can differ based on each use case and conversion goal.17.65%26.39%35.04%40.82%16.94%9.95%2.73%1.91%9.16%35.46%7.6%2.7%0.18%0.34%0.62%

39、0.92%The Impact of Personalization for theEmail Marketing:The Dos and Donts for a Sustainable Engagement StrategyThe above insights showcase that broadcast emails,irrespective of the industry,consistently yield the poorest results across all email marketing metrics because of their generic nature.Al

40、ternatively,emails with Behavior-based and Journey-based personalization have the highest open rates,CTORs,conversion rates,and lowest unsubscribe rates(depending on the industry).Here is a summary of industry-wise email marketing benchmarks that can be achieved using Behavior-based or Journey-based

41、 personalization across different industries:While it is recommended that you conduct A/B testing to see which email type works best for your brand,one thing thats clear is that personalization is the need of the hour.Hence,you need to customize your emails based on where customers are in their jour

42、ney and how theyre engaging with you and your products on the website/app.However,doing this manually isnt feasible,especially if you have an extensive database of customers and operate in a dynamic market.This is where a personalization,customer engagement,and automation tool,such as a Customer Eng

43、agement Platform(CEP),comes into play!Benchmarks At a GlanceOpen RateCTORConversion Rate0Retail&E-commerce Banking&FinanceMedia&EntertainmentLifestyle0%50%40.82%25.45%36.21%11.74%42.74%5.28%15.14%16.94%40.87%3%13.81%35.46%11Email Marketing:The Dos and Donts for a Sustainable Engagement StrategyRegar

44、dless of the industry,heres how to leverage a CEP to convert your email personalization strategy into action:Best Practices for Email Marketing Using a Customer Engagement Platform(CEP)121.Gather valuable insights about your customers.Use a CEP to learn about each customers attributes,behavior,prefe

45、rences,interests,where they drop off in their journey,how they respond to different campaigns,etc.all from a single dashboard.These insights are helpful regardless of your email personalization type,as they can be easily incorporated into your email campaigns.Thus driving better conversions and opti

46、mizing customer lifetime value.2.Segment your customers based on their commonalities.Group your customers based on their affinity,preferences,interests,behavior,and propensity to perform a specific action on your website or mobile app.This will help you identify the right audience that needs email c

47、ommunication(so youre not spamming them unnecessarily!)and drive higher ROI through personalized subject lines and email copies.Segmentation is beneficial if you are planning to implement Behavior-based and Journey-based personalization.Behavior Chart A.App/Site Opened AndriodB.App/Site Opened WebA.

48、Opened with Andriod239A.Opened with Web60HoursDaysWeeksMonthsSongs you might likeGO TO ALBUMListening to DuaPOP SHOTSPro tip:Bring together all the data from your online and offline channels(including but not limited to traffic sources,POS data,and campaign trends)to create a Unified Customer Profil

49、e for all your customers in a single dashboard on MoEngage.Pro tip:Place each customer in a segment based on their Recency,Frequency,and Monetary(RFM)scores.This is where a platform like MoEngage comes in handy.It allows you to segregate customers into buckets such as Loyal,Price-Sensitive,and About

50、 to Sleep.Based on these segments,you can decide which category of customers should receive which kind of emails.Email Marketing:The Dos and Donts for a Sustainable Engagement Strategy173.Engage customers at the right time,every time.Take the guesswork out of your email-sending timing by using artif

51、icial intelligence to determine the best time to send emails to each customer and automating the process.This will identify when each of your customers is most likely to view and interact with your message,increasing your CTRs and conversions and ultimately boosting your ROI.This is relevant if you

52、are planning to implement Behavior-based and Journey-based personalization.EmailPushSMSBuyOrder Nowhttps:/ tip:Place each customer in a segment based on their Recency,Frequency,and Monetary(RFM)scores.This is where a platform like MoEngage comes in handy.It allows you to segregate customers into buc

53、kets such as Loyal,Price-Sensitive,and About to Sleep.Based on these segments,you can decide which category of customers should receive which kind of emails.Pro tip:Experiment with various customer journeys using MoEngages Intelligent Path Optimizer to find the ideal one for each customer.This tool

54、also helps you determine the best-performing channel,messaging frequency,and messaging sequence for each customer.4.Build seamless omnichannel journeys.Add email to a seamless and connected customer journey that spans multiple channels such as SMS,mobile push notifications,website banners,in-app nud

55、ges,Google Ads,etc.Use the CEPs automation capabilities to orchestrate customer journeys and let the platform automatically direct customers to the best-performing paths and drive maximum ROI.This is especially useful if you are planning to implement journey-based personalization.13Email Marketing:T

56、he Dos and Donts for a Sustainable Engagement Strategy17Despite often being underestimated,email marketing has persevered through the digital revolution,pandemics,recessions,and budget cuts,delivering high ROI and immediate,measurable results.While this economic channel continues to deliver,its impo

57、rtant to remember that if you want to beat brand fatigue and cut through the clutter,personalized emails are a must-have in your engagement toolkit.And dont just settle for basic personalization.Instead,experiment with Behavior-based and Journey-based personalization and watch your email game skyroc

58、ket!To learn more visitAbout MoEngage MoEngage is an insights-led customer engagement platform trusted by more than 1,200 global consumer brands such as Ally Financial,McAfee,Flipkart,Dominos,Nestle,Deutsche Telekom,OYO,and more.MoEngage empowers marketers and product owners with insights into custo

59、mer behavior and the ability to act on those insights to engage customers across the web,mobile,email,social,and messaging channels.Consumer brands across 35 countries use MoEngage to power digital experiences for over 1 billion customers every month.With offices in 13 countries,MoEngage is backed b

60、y Goldman Sachs Asset Management,B Capital,Steadview Capital,Multiples Private Equity,Eight Roads,F-Prime Capital,Matrix Partners,Ventureast,and Helion Ventures.MoEngage was named in the 2022 Gartner Magic Quadrant for Multichannel Marketing Hubs and a Strong Performer in The Forrester Wave 2023 report.https:/ http:/ Unsung Hero of the Digital AgeLevel up Your Emails With Personalization Today.14Email Marketing:The Dos and Donts for a Sustainable Engagement Strategy