Measuring and Maximizing Email ROI
Jetlore has announced a new webinar series focused on the building blocks of individualized personalization. The second webinar in the series was presented last week and focused on Measuring and Maximizing Email ROI.
The first section of the presentation focused on a number of common email measurements including:
- Open rate
- Click to open / Click through rates
- Conversion rates
- Revenue per email sent
- Revenue per email opened
Two new metrics were introduced as part of this section:
Aggregate Channel Revenue - This metric helps retail marketers analyze the magnitude of opportunities in different email channels including promotional newsletters, lifecycle, triggered, and transactional.
Profit contribution - This metric helps retail marketers calculate the incremental profit contribution from tests and investments that are made in the email channel. While it's difficult to calculate precisely in practice, there are proxies that can be used to drive more profit from campaigns (as opposed to merely measuring incremental revenue). And ultimately, profit contribution is what provides ROI.
To view a shortened version of this webinar, click on the image below:
After providing a framework for analyzing the size of opportunities (above graphic), the webinar projected the size of opportunities by channel and identified an opportunity that runs throughout all e-commerce email types - improving 'revenue per open' by individually personalizing the content in each email sent.
A synopsis of a case study was presented that showed how a Latin American retailer, Dafiti, was able to achieve significant results by individually personalizing the content of their promotional email program. Click on the image below to read the case study: