Forgive the borrowed interest, but predictive modeling is to marketers as sex is to schoolboys. They're all talking about it, but few are doing it. And among those who are, fewer are doing it right. In customer relationship marketing (CRM), predictive modeling uses data to predict the likelihood of a customer taking a specific action. It's a three-step process.
Even as opens were up and clicks were down, revenue per email held steady at 8 cents in the third quarter of 2014, says the "2014 Q3 Email Benchmark Report." The research announced on Tuesday by New York-based Experian Marketing Services may reveal an open and click trend—Q3 research released on Jan. 7 by competitor Epsilon found similar increases and declines and reasoned that they were the result of recipients using mobile email.
The email marketing benchmark is set. Among 8.7 billion emails sent in Q3 2014 by 140 marketers in 13 industries, open rates rose while click rates fell. "Both trends [are] likely the result of an increase in mobile device usage," according to Irving, Texas-based marketing firm Epsilon, an Alliance Data company.
Launching an email automation solution takes some work. But it doesn't need to be complicated—and you probably already understand the process and its benefits better than you know. After all, most of us are already automating in our personal lives even if we don't realize it. Do you schedule your credit card bills for monthly auto pay, or sign up for regular prescription refills? Email automation applies that same principle to your marketing, at scale.
One-stop shop. Marketing agencies and vendors are moving quickly to ensure marketers never have to leave their doors to find specialties of any type. The latest to do so is Epsilon, one of the big players currently synonymous with the word "data." On Wednesday Epsilon, an Alliance Data company, announced its rebranding as a "an all-encompassing, global marketing business."
It seems as though the subject line should read "Fear Is a Prison," but Irving, Texas-based marketing services firm Epsilon leads with "Only 44% of Organizations Feel Their C-Suite 'Gets' Digital." The consequence of the key takeaway from the Aug. 25 release of Epsilon and Econsultancy survey results is those companies aren't "developing effective strategies to address" the digital marketplace.
Like the apple in the Garden of Eden, marketers want to take a bite out of cross-channel marketing opportunities. While it is clear that marketers understand there is opportunity in cross-channel marketing, what is equally clear is that the scope of the opportunity is, at times, eluding the most sophisticated marketers. With that in mind, let's review some of the basic stats that underpin the cross-channel opportunity.
Every day people are flooded with emails they must decide to open or ignore. Research by Epsilon shows that email open rates are hovering around 25 percent. Luckily for marketers, there's a way to improve that rate. Since many people base their decision about whether to open an email on the subject line, this means you can optimize it through testing and iteration to attain an open rate that's far above average. In this post, I'll share four hacks you can use in your email marketing. Most of these hacks are backed by research, although results vary by industry.