Debunking Email Marketing Metric Industry Standards

 

It is very difficult to compare any email campaign's performance against industry standards. This approach is not accurate and we don't recommend it.

BLVD prides itself on offering clients improved marketing outcomes that are focused on Return On Investment (ROI).

We measure the effectiveness of email campaigns based on incremental revenue generated. Was the campaign measuring profitable incremental sales for your business? These sales were more than the cost of the campaign.  Are you getting a greater return than you would have if you had put money in the bank instead? If yes, then the campaign was worthwhile and successful.

 Mining Industry Email List it can be helpful to know that the open rate was lower than in the previous campaign, it does not necessarily indicate ultimate success.

There will always be discrepancies in any comparisons to previous campaigns or attempts to establish an industry average.

Why there is no standard

There is a lot to be done in the automotive industry. Here are some common elements that make it difficult for us to compare email campaigns performance.

Each year, models change and are refreshed within a brand or competitive brand. This changes consumer perception and market dynamics.

Luxury brands do not have exactly the same model/segment lineup or consumer perception.

Outside of economic conditions, there are changes:

Variable interest rates

Changes in employment rates

Prices can be affected by international trade

Market weather and natural disasters can affect sales depending on the timing.

Gas prices directly correlate to sales activity and model consideration

Prices and consumer buying habits are affected by the availability of new and used vehicles

You could go on. All these factors make it easy to dismiss the idea of industry-standard email marketing metrics due to all these external influences.

Additional email campaign differences

Lists - Data sources can change and performance can vary depending on the mix of past customers and prospects records. These record classifications may be different for acquisition or CRM campaign efforts.

Offer - Not all offers are the same for the same model year.

Creative - The creative message can change from one campaign to the next

We believe there cannot be an industry standard for email campaign performance. A campaign that generates incremental, profitable sales is considered a success.

To improve ROI, use past campaigns as a benchmark and then adjust for subsequent campaigns. Keep in mind that external economic conditions could still impact this internal profit benchmark.

Some digital industry standards are used for email and are considered POTENTIAL indicators of improved ROI. These metrics can be misleading, although they are optimized to improve the chance of an improved ROI.