Running a successful triggered email marketing program is no easy task. It takes proper testing, measurement, analysis and optimization in order to grow and scale a cohesive program. But even with this dedication, marketers want to understand how their programs stack up against the rest of their industry. And so, we’re excited to announce the 2016 Triggered Email Benchmark Report. Leveraging data from more than 280 customers and 332 million emails, this is the most extensive examination of triggered email metrics we’ve ever produced.
Although this report will provide universal benchmarks for triggered email metrics, we also recognize that providing blanket data points may only tell one side of the story. With so many variables always in play, such as program size, order values and sub-industries, it’s virtually impossible to deliver uniform benchmarks that are realistic, accurate and applicable for every program.
Because of this challenge, each section of our benchmark report is broken down by a different variable: baseline, adoption and revenue contribution, order values and industries. This will allow you to pick and choose which factors matter most, and as a result, measure your program against the best benchmarks for your business.
As a sneak peak to the report, here are a few key takeaways:
1. Price Decrease Triggered Emails are Strong Revenue-Driver
Most marketers expect abandonment emails, especially Cart Abandonment, to be the best triggered email types for driving high conversion and revenue. However, Price Decrease triggered emails actually are the second top performer in revenue per email ($2.83), beating out other abandonment emails. As a few best practices, we have seen even greater click and conversion rates with Price Decrease triggers when retailers message a limited time offer and/or keep prices hidden within an email.
2. Most Retailers are Running 2-4 Triggered Email Marketing Programs
When it comes to building a scalable triggered email marketing program, almost all marketers use several triggers to engage at various touch points. 96 percent of Bluecore’s customers run at least two different types of triggers and 65 percent run between two and four types.
3. Shoppers with Different Order Values Respond Differently to Triggered Emails
As expected, shoppers looking to make a $100 purchase and those looking to make a $10,000 purchase respond differently to triggered emails. For example, order values between $50 – $100 perform the strongest in conversion rates. This may be because orders in this range fall within a sweet spot between affordable impulse or necessity purchases and expensive luxury or investment buys. Understanding how behavior changes by different price points is important for retailers to keep in mind when scaling triggered email programs and recommending products.
4. Triggered Email Benchmarks Vary By Industry, Substantially for Many
When compared to industry-agnostic benchmarks, industry-specific triggered email benchmarks can differ greatly, as many industries have common characteristics of other variables included throughout this report. For example, here we see that the Jewelry industry’s triggered emails typically perform higher than industry-agnostic averages. Particularly impressive metrics include its average open rate (43.50 percent) and revenue per email ($3.47). Because of this, marketers should benchmark their triggered email marketing programs against those in similar industries for more accurate and applicable metrics.