Email Marketing - How do you measure up?
Have you ever wondered how your email marketing campaigns perform compared to other companies?
Most organisations can only compare their email marketing performance to past email marketing campaigns that they have ran. This tells them if open, click, bounce and unsubscribe rates have gone up or down over time, but doesn't really help to benchmark performance against other organsations in their industry, or other companies in their region.
IBM's "2016 Email Marketing Metrics Benchmarking Study" is a great place to find out how various EDMs perform around the world, and across different industries.
Open Rates - 18.3%
18.3% is the average worldwide email open rate. In Australia, it is slightly lower at 18.1%, however we also have some of the highest performing emails in the world, with top quartile performance at 58.1% compared to 41.6% for the rest of the world.
Click Rates - 1.6%
In email marketing, a click rate is a better indicator of email performance than open rates. 1% is the median worldwide email click rate. Once again, Australian emails performed highly in this regard, with top quarterly open rates of over 15%.
Interesting Email Statistics
Non-Holiday messaging outperforms holiday messaging.
Emails that are sent outside of the holiday period (Christmas, New Years, Easter, Black Friday etc.) outperform emails that are sent during holiday periods. This is due to the fact that far more emails are sent during these periods, and so people are less likely to see your message.
The more emails you send, the less engaged your audience are.
The more emails a company sends, the less engaged their audiences are with them. Does this mean you should send less emails? Not necessarily. Sending more emails results in lowered engagement rates per email, but the combined effect of sending multiple emails usually outweighs this fact.
Transaction based emails get 2x more opens than other emails.
Transnational emails (purchase confirmations, receipts, notice of shipping etc.) generate twice as many opens as normal emails. Businesses need to think about how this can be leveraged, e.g. an up-sell, or additional calls to action.