Each quarter we measure our campaign results using our Knowledge Bank analytics.

Email Metric Performance

We continue to see the “open rate” spiral lower which places downward pressure on the “click through”. It is interesting to note that the “click through” rate over the past five quarters is flat (1.10% – 1.15%). On the contrary, the “click to open” rate spiked 39.3% year over year, settling in at 10.03%.

List Intelligence™

For the fourth consecutive quarter, the “click to open” metric has increased (39.3% Q3 year over year). In comparison to Q2 2011, the uptick was 7.7%. On the front end, the “open rate” continues to slide, dropping to 11.92% this past quarter. So what are the factors contributing to this performance trend? Based on our analysis and discussions with our publisher network, the demand for email rental campaigns has steadily declined in favor of data providers who offer contact records for purchase. As a result, marketers are purchasing contact records with email addresses included and deploying to their audiences at a much higher rate. The result has been a fundamental change in the channel’s overall performance.

 

The good news is the “click to open” metric is clearly indicating that audience targeting and messaging is improving. It is impossible for us to isolate which factor is most responsible for this positve change, but our inclination is audience selection. We recognize that due to our segmentation methodologies the metric has likely been compromised. A large percentage of our email rental strategies are based on named accounts and aligned to optimal job titles. As a result, if the email is opened there is a much higher probability that the recipient will click through to the offer page. We will continue to monitor this trend each quarter.

For additional information, read our Fall 2011 List Intelligence™ Report at: http://www.oceanosinc.com/listintelligence/

 

Excerpt taken from IDC CMO Advisory Survey 
Customer Data Acquisition:  The Keys to Effective List Management

Customer data management is the foundation of digital marketing and is emerging as an enterprise discipline of its own.  The efficiency and effectiveness of customer creation processes are entirely dependent on having accurate, timely and well managed customer data.  Therefore it is crucial that every aspect of the customer data management process be designed to deliver the highest data quality possible.  At the very front end of the process is list acquisition.  We’ve outlined some guidelines and recommendations to help you improve your organization’s efforts to acquire higher quality data faster than ever.

Keys to success:

Create an enterprise customer data policy that articulates:

  • Who owns which parts of the customer record
  • The preferred sources for each part of the customer record (approved 3rd party, web/registration forms, sales, finance etc.)
  • The standard data definitions for customer records
  • The change/append process
  • Usage guidelines (contact frequency, messaging mix, lead assignment, etc.)

Establish a Customer Data Advisory Panel with representatives from marketing, sales, finance.

Establish a Customer Data Czar who owns the data and IT resources necessary to standardize customer records across legacy applications.

The customer data acquisition capabilities of today’s marketing tools are extraordinary.  We can track digital behavior from forum, blogs, tweets, social media groups, thought leadership websites, as well as responses to our own outbound email and web marketing.  With the pervasive use of mobile devices, we are increasingly able to capture retail transactions and geographic data to further inform our contact profiles.

Despite rising costs of data acquisition, marketers are expected to spend an increasing percentage of their marketing budgets on 3rd party customer data.  To make the most out of list investments, it is recommended that companies create an enterprise customer data strategy that categorizes customer data by type, source, and timeliness and provides policies for ownership and usage.

However with the importance of customer data and the rising costs, many marketers are unable to manage their data effectively.  Key challenges are:

  • Lack of central authority who owns customer data at an enterprise level
  • Inconsistent definitions of customer records and key fields within legacy applications (sales/CRM, finance/billing, service, pricing, provisioning and support)
  • Fragmented usage policies that lack enforcement

Managing List Quality

It is recommended that companies establish a Customer Data Czar to own the entire “responses to revenue” process and associated data.  This role is critical to solving the other two issues, breaking the siloed approach to data structures, and coordinating central versus local use of customer data.

Oceanos can work with your business to support all types of demand creation and database building programs.  We also provide risk mitigation, diversification and cost certainty strategies to ensure data investment optimization for your business.

For full report visit:  http://oceanosinc.com/idcreport

© List Intelligence™ Blog Oceanos, Inc.