E-commerce Link: Back to School
The Basics, Part 3: Benchmarking Results Against Other Industries
Thus far, we've looked at metrics in a vacuum. But sometimes you need to step outside of that and see how you stack up against others in your vertical market. Benchmarking is an indicator of how you compare.
Sources you might use:
- Epsilon has released quarterly reports for several years. I like the consistent year-over-year data available. The site requires registration to access the free information.
- eDataSource offers a variety of services that monitor and track consumer emails. The company tracks thousands of consumer emails, and its tools provide reports on email, Facebook and Twitter to provide competitive intelligence. There is a cost for this service.
- EmailStatCenter.com provides information on a variety of topics including stats by industry and international stats.
Beyond the Basics: It's All About Data
Once you have the basic analytics in place, it's time to start reviewing your customers based on who they are, their interactions with email and their interactions with your website. To take your program to the next level, it is very helpful to work with an ESP that ties in site and social tracking.
You'll succeed as an email marketer if you develop a strategy to speak to distinct groups within your list. The first two places to start are your registration forms and your preference center. These provide you with the ability to capture data and content interests from your list.
Many ESPs offer the ability to query your list on any of your data fields to obtain segment counts. For example, you might know how many females are on your file between the ages of 25 and 45 who have opened an email in the past three months. If the resulting count is meaningful as a percentage of your file, you can easily create this group as a segment. Now, you're ready to market to this target.