MoEngage, the insights-led customer engagement platform, today released its annual Email Benchmark Report 2022 that provides marketers with insightful findings about consumer email behavior and strategic benchmark approaches to successful click-through rates. The report analyzed metrics such as click rates, conversion rates and open rates across four major industries. It also analyzed the influence of marketing strategies like personalization, segmentation and journey-based campaigning.
The report closely examined over 5.3 billion emails sent between August 2021 and February 2022 in Banking & Fintech, Media & Entertainment, Shopping and Lifestyle Services.
The key outcomes of the report pointed out that broadcast or ‘blast’ emails are no longer relevant for effective customer engagement. Customers, in fact, enjoy and respond to emails tailored to their customer journey, segmented for their behavior and personalized to their preferences. This, in turn, directly impacts the metrics that matter most for marketers — open rates, click-through rates, conversion rates, and click-to-open rates.
The study also found that the shopping vertical in India is seeing a 2X uptick in unique opens due to journey-based emails, and a 3X uptick due to event-triggered emails. This customer base also gives a 94% improvement in CTOR when emails are dynamically personalized, and a 23X improvement in unique CTRs. Other main findings were:
For shopping brands: 2X uptick in unique opens and 3X improvement in open rates when auto-triggered emails are sent: Auto-triggered emails target customers as they are visiting a website or adding products to the cart or even in conversation with the brand’s customer support. This fulfills customer needs ‘there and then’ and gives brands high-intent leads.
For banking brands: 100 % increase in CTR when dynamically personalized emails are sent: Brands can create a dynamic group of products for customers based on their preferences and behavior. BFSI customers find this extremely convenient as it offers timely recommendations on financial products, such as a bill payment reminder or a credit card promotion.
For media and entertainment brands: 3x increase in unique CTR when emails are tailored to the customer journey. Customers here need cajoling as it takes time to convert them. The industry can customize the customer experience at various touchpoints on their journey and nudge them to move closer to the end goal. For example, viewers appreciate when brands send them messages about an upcoming new TV show or article to peak their interest or when their payment status is updated.
For lifestyle services brands: 110% increase in open rates with auto-triggered emails. Moment-based marketing through emails that are triggered when events occur have been useful for Indian hotels, productivity, lifestyle and logistics brands.
Commenting on the relevance of the report and the impact of personalization of emails, Raviteja Dodda, CEO, MoEngage said, “The shift in email behavior will continue thanks to increasing demand for personalization and relevancy-based messaging. Marketers therefore need a whole range of benchmark metrics and feedback to appreciate and capture their audience needs and more importantly, engage them and fulfill their needs then and there.”
MoEngage is an intelligent customer engagement platform built for the user-obsessed marketer. With AI-powered customer journey orchestration, personalization capabilities, and in-built analytics, MoEngage enables hyper-personalization at scale across mobile, email, web, SMS, and messaging channels.
Fortune 500 brands and Enterprises across 35+ countries such as Deutsche Telekom, Samsung, Ally Financial, Vodafone, and McAfee, along with internet-first brands such as Sharechat, Roposo, Gaana, Ola, OYO, and Bigbasket, use MoEngage to engage their customers efficiently. MoEngage was named a Leader under Mobile Marketing Platforms in Gartner’s Magic Quadrant 2020 and a Strong Performer in The Forrester Wave Mobile Engagement Automation 2020 reports.