I often hear the following refrain from clients: "There aren't enough hours in the day. I have other priorities ahead of this initiative. Email is only one part of my job...." That's why starting today, I'm going to intersperse posts and ideas for how to move the needle, even a tiny bit, in just two minutes a day.
For the first mini-module, I want to start with subscriber analysis. I've created an analysis to conduct for each day of the week. Put two minutes on your timer and take your contact's email behavior (and past buying behavior if it's available) and create segments to analyze:
- % of customers to total subscriber file. Create a segment that pulls in everyone that has purchased at least once via email or otherwise. Then divide by your total list size. This gives you the percentage of customers versus prospects in your subscriber database. As we've discussed previously, customers and prospects should be treated differently and messaged to differently. This will give you an idea of the size of each group.
- % of contacts by source. You should be appending all contacts that come into your database with a source. If you are, create segments by source to determine the percentages of contacts by source in your database. This will allow you to score each source by performance to determine where the weak links may be in your opt-in process.
- % of engaged contacts. Determining engagement varies wildly marketer-to-marketer, but you should be determining the lifecycle of each contact in tandem with your buying cycle. If you do that, you can take that timeframe and grab contacts that have opened/clicked/converted more than X% during that timeframe. This will allow you to determine if it's time for a reactivation campaign and analyze what campaigns your contacts are most responsive to.
- Net list gain/loss. Calculate the delta between number of new contacts added per day/week/month/year and the number of contacts lost due to complaints, bounces and unsubscribes. This will give you an idea on your net subscriber file gain/loss.
- The rock stars. Of your subscribers, which ones open 80% or more of your messages, click on 50% or more and convert 20% or more of the time? These are your golden subscribers and should be identified and treated as such.
There are many other analyses that can be done, but this will get you started on analyzing and getting to know your subscriber base. After this, you'll want to make a goal for the following week to think through how you can make an inactive group more active - see this post for ideas on how to reactivate.
Get started on these - you have two minutes for each. GO!
Email Marketing Strategist at Bronto