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Key Metrics to Measure for Email Marketing Success
27th June 2024 • The Google Ads Podcast • Solutions 8
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Learn how to determine if your email marketing campaigns are successful—the key metrics to analyze, where to check those metrics in Klaviyo, what to compare them with, and more.

Our Specialists Manager, Glen Wilson, and our Facebook Ads and Klaviyo expert, Dan Nikas, dives deep into an account with 44% of revenue attributed to email marketing to show you how to analyze your email marketing campaigns and use those data to optimize your strategy for success.


Learn about the Solutions 8 Digital Marketing Services here: www.sol8.com/digital-marketing-services



0:00 Intro

0:25 Key Metrics to Measure for Email Marketing Success

5:35 Checking your attributed revenue

9:55 Reviewing the top performing flows and metrics

13:42 Industry information section

20:45 There isn’t a universal standard for metrics




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Transcripts

Speaker:

If you don't know where to look

for them to start with in your

2

:

own account, you're flying blind.

3

:

So I thought what I'd do is I'd jump

in and I'd, a bit of an overview of

4

:

accounts when we do an audit on them.

5

:

There's a lot that we do in the

audits, but fundamentally, these are

6

:

the places that we will start to look.

7

:

Make sure things are set up correctly.

8

:

Hello, YouTube land.

9

:

Here we are again with Dan Nickis

and we are going to be talking

10

:

today about email metrics and

what you should be looking at.

11

:

If you have, an email system,

whether it's Clavio, whether it's

12

:

any other platform like MailChimp,

GetResponse, Aweber, any one of those.

13

:

How do you know if those that

your email campaigns or your

14

:

email marketing is working?

15

:

So Dan's going to drill into what

you should be taking notice of

16

:

if you're using email marketing.

17

:

think Dan, you were saying this is

part of the audit that you do as well.

18

:

Is that right?

19

:

probably the discussion that we were

having is It's all good and well for me

20

:

to say, you need this percentage open

rate, or we look for this percentage

21

:

click through rate, or we look for this

percentage unsubscribed rate, if you don't

22

:

know where to look for them to start with

in your own account, you're flying blind.

23

:

And then when you do look at it, how

do you know whether it's good, bad,

24

:

average, or how can you improve it?

25

:

if you don't know your metrics, then you

don't know what you should be working on.

26

:

You could be working on the wrong things.

27

:

You could be doing something

really well and think you're

28

:

doing it poorly and change it.

29

:

Or you could be doing something

really poorly and think you're doing

30

:

well at it and make no change to it.

31

:

So I thought what I'd do is I'd jump

in and I'd a bit of an overview of

32

:

accounts when we do an audit on them.

33

:

There's a lot that we do in the audits,

but fundamentally, these are the places

34

:

that we will start to look, just make

sure things are set up correctly to start

35

:

with, to be able to measure these metrics.

36

:

And then overall, what we're looking

at to make sure the connections are

37

:

right, what the open rates are, the

click rates, where they're possibly

38

:

got, they're leaking revenue, where

they possibly could be making more,

39

:

what's doing really well for them.

40

:

and, these things are very generic across.

41

:

All niches within e commerce.

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:

It's not a case of well, this

should only work for if you're in

43

:

the beauty niche or this should

only work if you're in apparel.

44

:

We have such a broad range of

clients, through the agency that,

45

:

we know that these systems work with

all of them, which is why, we're so

46

:

passionate about it we've got such

a detailed system because it works.

47

:

It works in every niche.

48

:

With an e commerce.

49

:

So these are the things that we look for.

50

:

This is what we, dive into.

51

:

And this is the stuff we'll come back

and report to people once we do an audit.

52

:

But, for the people out there

this, jump into your own accounts.

53

:

I'm going to take you through Klaviyo

because that's what we use and recommend.

54

:

If you're on MailChimp, Aweber,

Constant Contact, Campaign Monitor,

55

:

GetResponse, whatever it is, they're

going to have it somewhere in there.

56

:

Jump in and have a look and

you'll get an idea about where

57

:

you are or where you should be.

58

:

And with the limited understanding

that I have with your system, this is

59

:

something that you Constantly monitor.

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:

And if there is a dip in performance in

whatever metric that you're looking at,

61

:

you're always trying to improve that

metric, whether it's a click through

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:

rate, you're modifying, email, titles,

descriptions, anything that's coming out.

63

:

if you're seeing a drop in

that metric, you'll go, we

64

:

need to improve that somehow.

65

:

Yeah.

66

:

Yeah.

67

:

So this is something that when

we did the audits, we do an audit

68

:

before working with the client,

but this is done daily as well.

69

:

When we're in a client account.

70

:

Yeah.

71

:

it's not like you get client and you

set everything up and you walk away.

72

:

This is something that you

are monitoring all the time.

73

:

We have to, and whilst our flows

are automated they are an automated

74

:

system that based on user behavior,

people will receive different emails.

75

:

They still need to be constantly

tweaked, changed, updated, even if

76

:

it's the most perfect system and it's

performing amazingly, at some stage,

77

:

that whole system needs an overhaul

because you can't keep sending out the

78

:

same stuff month on month, year on year.

79

:

Forever in a day, people are going

to start seeing the same content.

80

:

They become disengaged with it.

81

:

We need to update things.

82

:

but yeah, it can be everything from

a subject line to preview text to the

83

:

content of the email to where the call

to actions are contained in the emails.

84

:

It can even be split testing.

85

:

within flows, it's split testing

campaigns, it's changing what audience

86

:

that we send it to, what parameters

people need to, make for us to put

87

:

them into particular segments that

we send these emails out to, and this

88

:

is not just a set and forget process.

89

:

Like this is constantly being worked

on all the time in the back end.

90

:

without further ado, take it away.

91

:

probably the hook that

we bring people in Is.

92

:

How much?

93

:

What is the percentage off revenue

that you're generating as an overall of

94

:

your gross for your e commerce store?

95

:

What percentage you generating per month?

96

:

Now, most people don't

know, and they're surprised.

97

:

And we say, recommend that

you should be at around 30%.

98

:

On average, all of our clients,

if we collectively put them all

99

:

together, we've run the numbers.

100

:

It's about 30 percent off the revenue.

101

:

That you generate gross it gets attributed

to, and email marketing efforts that

102

:

we put in some sit at 20 others

like this client sit at nearly 44.

103

:

So it's an average.

104

:

Now, there's some factors that go

into that, it's going to depend on the

105

:

industry, whether it's a one purchase

only product, whether they've got

106

:

repeat purchases, things like even how

they generated their lists before we

107

:

became involved, some people have bought

lists, some people have got lists

108

:

by running, giveaways the wrong way.

109

:

so it all depends on how we've

got people into that list as to

110

:

how engaged they are and what

chance we have of converting them.

111

:

So fundamentally that when we come

in, the first thing we do is we come

112

:

to the home and we look here and the

first thing I want to look at is what

113

:

is your percentage of total revenue?

114

:

Now, the attribution with Klaviyo,

the way that it picks it up, so you're

115

:

going to have, duplicate attribution,

it's going to happen, but if we compare

116

:

apples to apples, we go month on month

with Klaviyo, we go rightio, this is

117

:

what it was last month in Klaviyo, this

is what it is this month, it works on

118

:

people that have opened and clicked the

emails, so that's what the attribution

119

:

is, they've had to have a touch point

during that buying journey with email.

120

:

we look at this and we go, okay, the

attributed revenue for this client

121

:

who has a pretty healthy top line

is sits at 44%, nearly 44%, 43.

122

:

89.

123

:

That's above what we need to, or

what we see as an average.

124

:

It's really healthy.

125

:

So we look at that and we go, excellent.

126

:

We're on the right track.

127

:

The next thing we look at is RIDEO.

128

:

Where is the majority of

their revenue coming from?

129

:

So Clavius split it up into campaigns.

130

:

And we can see here 71 percent of the

revenue from the emails that's attributed

131

:

to Clavio is coming from campaigns

and 28 percent is coming from flows.

132

:

So that's the top line where we look at.

133

:

There's no right or wrong balance here.

134

:

This will come down to, the type of

product, the industry, how often a

135

:

company sends, or a brand sends campaigns.

136

:

This brand sends about four

days, four times a week.

137

:

Campaigns are very heavy.

138

:

They have a lot of new

products coming out.

139

:

they get a lot through their campaigns.

140

:

Their flows, not to be staged,

are still generating nearly 150

141

:

grand for them in the back end.

142

:

but they're not as, profitable because

we send out quite a lot of campaigns.

143

:

Now, in saying that, that's

not to say that the flows are

144

:

more, a larger percentage.

145

:

Of the revenue isn't because of the flows.

146

:

This is another way that we need to look

at the attribution with Flavio is it

147

:

works on last click last touch point.

148

:

So if we've got a brand that's

sending, 456 emails a week by

149

:

campaigns, the last touch point.

150

:

More often than not is going to be from a

campaign, but that's not to say that the

151

:

flow didn't play a vital role in that as

well in getting them across the line to

152

:

either build trust, show them reviews,

show them some user generated content,

153

:

went through the quality of the product,

told them about the brand backstories,

154

:

some behind the scenes style, content.

155

:

All it means, though, is the last

thing they touched was a campaign.

156

:

So the high volume of campaigns,

we do see more people coming

157

:

through it with that attribute.

158

:

when we come down on the home

screen, our top performing flows,

159

:

you can see that we've got quite

a lot of flows set up in here.

160

:

When we start the build outs, we

start out with six to seven flows.

161

:

Core flows, we call, and that's on

the sheet that should be attached as

162

:

a link down below here, which talks

about the different flows that we

163

:

do set up as part of the build out.

164

:

But that's not all there is,

it does extend beyond that.

165

:

That's just what happens at the beginning.

166

:

And they do, they are your core

fundamental flows and every brand has

167

:

at least 6 more often than I'll have the

7 again, it just depends on The niche

168

:

that they're in or the product that they

sell, but you do continue to build on

169

:

that and build on that and build on that.

170

:

And you have this really

sophisticated, network of automations

171

:

and flow sitting in the back end.

172

:

And what you can see here is you

can see how many deliveries it had.

173

:

We've got four different ones in here that

we've got A B split tests running on the

174

:

status of them, whether they're email or

SMS, client doesn't lean on SMS at all.

175

:

That's just a brand choice but a lot of

clients you'll see they'll have their

176

:

SMS flow sitting up in here as well.

177

:

How many deliveries?

178

:

How many products have ordered?

179

:

amount of dollars per recipient that we

send out to and then a percentage change.

180

:

This is a 30 day period

that we're looking at.

181

:

So we've had some ups and downs in

here in terms of the flow revenue.

182

:

The campaign revenues performed

exceptionally well, and we can see

183

:

our most recent campaigns here.

184

:

This goes back to the 27th of March.

185

:

We got some campaigns that have run at

smaller levels, some that have run at much

186

:

bigger levels, 60, 000 from this campaign,

268, 000 from this campaign here.

187

:

So there's a lot that can

be done with the campaigns.

188

:

Like I said, though, this

is the last touch point.

189

:

It is a flow that potentially has

also contributed to this process.

190

:

So how do we know when we're

looking at it and we look here at

191

:

the open rates and the click rates?

192

:

How do we know if these

are healthy or not?

193

:

Klaviyo has some really

good data on the back end.

194

:

And I'm going to show you how to set

it up properly so that, or how we check

195

:

to see if it's set up properly make

sure that it's comparing your industry

196

:

to a similar industry, your brand

to a similar brand that's out there.

197

:

the good thing with Klaviyo is in

the US, there's 150 odd thousand.

198

:

stores built on Shopify, of that 80

percent of them have Klaviyo connected.

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:

So we're talking about a really

large section of them there

200

:

that are connected to Klaviyo.

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:

And that's why we use and recommend it

because it is the industry leader when it

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:

comes to e commerce and e mail marketing.

203

:

But how do we know whether a, let's

say here, a 36 percent point, 36.

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:

83 percent open rate and a 2.

205

:

76 percent click rate is good?

206

:

Do you know, and I couldn't

tell you in this industry if

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:

that's good, bad and different.

208

:

I've got an idea because I live in

this space every day and I know where

209

:

it should be and I know definitely a

60, nearly 62 percent open rate and a

210

:

15 percent click rate that generates

60, I take that every day of the week.

211

:

But, how do you know, as a brand

owner, whether your brand is

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:

performing in line with similar brands?

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:

The thing is, to start with, is that

you need to set it up in the backend.

214

:

So you need to tell Clavio what industry

you're in, what's your niche, so it can

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:

compare you to other similar based brands.

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:

So when you come in here into, settings,

Down the bottom here, and when you

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:

come into settings, the first thing

you click on is Account, Organization,

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:

and just come down to the bottom,

there's an Industry Information section.

219

:

that is the best place to start.

220

:

Okay, so this one's an e

commerce in sporting goods.

221

:

There is a lot in there.

222

:

Try and be as specific as you can,

because what it's going to do is it's

223

:

going to compare you to other people in

that industry that are similar to you.

224

:

So that way you know whether

you're performing where

225

:

you need to be performing.

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:

Okay.

227

:

we can have a look at all

the other settings in here.

228

:

But fundamentally, what I wanted to show

you in here was the industry information.

229

:

This is where we're picking up whether,

where are you telling Klaviyo your

230

:

industries, what your brand does.

231

:

When we have a look here, we can

come across into deliverability

232

:

and this is now going to tell us

based on our previous, 30 days.

233

:

What we're doing well, what

We're not doing that well.

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:

And this gives you a

rating out of a hundred.

235

:

And this is telling us

that our score is good.

236

:

It's telling us what we're doing well,

and this is where it's important that

237

:

we have the information in there

telling Klaviyo what industry we're in.

238

:

It's telling us our open rate

with our account is 42.4%.

239

:

The recommended.

240

:

So this is the guidance

for healthy deliverability.

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:

So this is in the eyes of Gmail, Yahoo,

Hotmail, all of those inbox providers.

242

:

This is the metrics they're looking at

to decide whether you're spam, whether

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:

it's a promotion, whether you're, going

to be banned, whether you're just going

244

:

to bounce straight out of people's

email accounts because of these metrics.

245

:

So this was a lot of domain reputation,

which is why we tend to warm accounts up

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:

or domains up when we start instead of

just, you never just send out to everyone,

247

:

but it's because of these reasons.

248

:

So on average, this account

has an open rate of 42.

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4, which is great.

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:

So nearly half the people that

receive the email open it.

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Now that needs to be greater than 33%.

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:

These metrics here are

the industry standards.

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:

So these are what people in your

industry on average are achieving.

254

:

We know here open rates good.

255

:

They give us a tick.

256

:

They say excellent.

257

:

That's lovely.

258

:

That's nice.

259

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The click rate we have is 3%.

260

:

Needs to be greater than 1.

261

:

2%.

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:

Now, just a caveat with click rate.

263

:

That's not click through rate.

264

:

So what a click rate is how many people

that were in total sent the email,

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:

clicked on it, not how many people

opened it and then clicked on it.

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So click through rate is of the

42 percent who clicked on it.

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Click rate is, say we sent this to 1, 000.

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:

Well, 3 percent of that 1, 000 clicked

on it, not 3 percent of the openers.

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:

So that's where people tend to get

a little bit confused, because they

270

:

look at that and they go, Mistaking

it for a click through rate.

271

:

It's actually a lot higher.

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:

This account sits at about 8

percent click through rate.

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Which is, again, fantastic.

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:

But that is of the people, of

the 42 percent that opened it,

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:

who then went on to click it.

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Bounce rate, we need to be less than 1%.

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This is telling us it's

good because we're at 0.

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:

75.

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We're sitting in the fair here with an

unsubscribed run, a spam complaint rate.

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:

We're right on the border with spam

complaint rate, right on the average of 0.

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:

01.

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Still very low.

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This account sends out about 2

million emails every 30 days.

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:

So not that concerned that we have 0.

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01%.

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:

Do we always try and

maintain a low spam rate?

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:

Absolutely.

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:

But when we're sitting at the

industry standard and we're

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:

sending 2 million emails a month.

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We're comfortable with that because

in the eyes of the email service

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:

providers, this is a high volume sender.

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They've got a dedicated sending domain.

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Their reputation is good.

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:

The authority is good.

295

:

In fact, they sit right on the

average of spam complaint rates.

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:

Unsubscribed rates were 0.

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:

01 percent higher than the average,

which is why we still get a fair.

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:

So that's.

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:

All good as well.

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If we're looking down here, we can

see what our bounce rates, we can

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:

see our recent performance campaign.

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So it's our last 5 campaigns

that we sent out, and we can

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:

see recent flow performance.

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And this is where we

get all these data from.

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:

Another good place to look.

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:

Is you come across to

your benchmarks over here.

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:

Now, it only goes back the last month.

308

:

So we're sitting now in April.

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It won't let us go any further back.

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:

It'll give you last month or a custom

range, but with that custom range,

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it won't let you go into April.

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:

So it's going to, it's always doing

a look back on the data for 30 days.

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:

It's telling us what we're

doing well in this account.

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:

So in this account, we've

got an excellent revenue.

315

:

And it sits at 3.

316

:

Now, is 3 what you should be aiming for?

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:

Probably not.

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:

This client is in a space where

it's high average order values.

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and they send out a very high volume.

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:

They turn over millions of dollars a year.

321

:

That might not be the equivalent for you.

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You could be in the cents range.

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:

it could be like 10 cents per

recipient, that's why you need to tell

324

:

the system what industry you're in.

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:

The average order value.

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:

Good.

327

:

It sure is.

328

:

It's at 974.

329

:

Should you be at 974?

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:

I don't know.

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:

I need to look into your account.

332

:

you will know what your average

order value is and whether you're

333

:

doing a good job with that.

334

:

revenue per recipient that comes

out of that flow average cart size.

335

:

average order count.

336

:

So this is what we're doing well.

337

:

And then it also tells us

what we're not doing so well.

338

:

So on the thank you flows, we have

a pretty high unsubscribed rate.

339

:

So we need to go in and

have a look at that.

340

:

the conversion rate on the

abandoned car flies is low.

341

:

you can't just only go, I'll

just look at these ones.

342

:

We're doing great.

343

:

We can come in here and

we can go right here.

344

:

what can we do better?

345

:

The obvious thing is here we've

got a spam rate and a, unsubscribe

346

:

rate that's not great sitting in

the thank you flows that we have.

347

:

let's go in and change that.

348

:

We might have to change the

frequency of what we're sending out.

349

:

We might have to change the volume

of what we're sending out in

350

:

there because ultimately these are

impacting on the overall metrics.

351

:

The email service providers, inbox

service providers, they don't look

352

:

at individual metrics like this.

353

:

They're looking at you

collectively as a sender.

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You need to, these are impacting on that.

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We need to adjust it.

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And that could be how we get

that rate down here of 0.

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31% unsubscribe rate or the 0.

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01 percent spam rate, they could be two

areas that we can drill down into and we

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can actually, fix, which could then have

an impact overall on the overall sin rate,

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the overall unsubscribe or spam rate.

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these are the places that we need to look.

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And I just thought that it was really

relevant just to highlight And it

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comes from, sometimes you see gurus

online and they're like, you should

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have an open rate of 50 percent

and a click through rate of 5%.

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And I'm like, that's fantastic.

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And that might be true for certain.

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It's just certain brands, but that's

not, there's no, to think that we can

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just have standard, an online standard

of what your emails should be open and

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clicked on around the world for the

billions of emails that are sent every

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day, then, it's foolish, but so what you

need to do is look at your brand, have it

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compared to other people in your industry.

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And see where you can make improvements

because that's what you can control.

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And to have someone, to have a

throwaway line, you should have

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this particular open right?

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what are they talking about?

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Are they talking about flows?

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Are they talking about campaigns?

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Are they talking about a segment of

100 people that I know will definitely

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all open it because I'm telling them

that they're going to win a prize?

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there's so many variables in

that it just frustrates me.

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we are dealing with real people on the

other end of devices, whether it's on

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their phones or if it's on their, their

human sitting at the other end and you

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:

can't keep everyone happy all of the time.

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So there's always going to, we've got so

many different personalities in the world.

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We've got so many different

cultural differences.

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Whatever their reason is, there's

always things that we can do to improve.

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Awesome.

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Just small part the numbers and the

metrics you look at, especially when

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you're trying to improve the campaigns.

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100%.

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and that's what I say to people

as you can tell by the amount of

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talk, but the data doesn't lie.

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a client comes to us and says, I only

want to send one email a fortnight,

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only send one email a fortnight.

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myself and my team will do

whatever you ask us to do.

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However, can you let us try doing

something different and we'll

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look at the data and then we'll

come back to you with the data.

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It's not opinion.

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It's not what Dan thinks

you should be doing.

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It's not what you think

you should be doing.

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It's the data.

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And what is the data representation of?

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It's a representation of

your entire user base.

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It's giving you signals to say whether

they like or don't like something, whether

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they want to be have emails delivered

to them at this frequency, the data

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is going to tell you that it's going

to tell you if they're marking you as

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:

spam, it's going to tell you if they're

unsubscribing, it's going to tell you

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:

if they love it and they're opening and

they're clicking on it and they're buying.

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We can't treat the users.

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The same way that you want to be treated

yourself 100 percent of the time,

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because we've got some databases that

have hundreds and hundreds of thousands

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of people on it, and we've got so

many different personalities in there.

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Yes, we all share some similar interests.

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That's why we're on this

particular database.

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But to think that Glenn, because you

want to receive 2 emails a week only,

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that is now the rule that applies

to the other 300, 000 people in

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the database is a little bit silly.

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The better way is.

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We will do your way, but

can we try this other way?

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:

If you say no, cool, we'll do whatever

you want, but we'll recommend or not

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:

recommend certain things at the same time.

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And we let the data

tell us what's going on.

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Very insightful, Dan.

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Thank you.

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:

Thanks again for your time.

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Appreciate it.

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for anyone who's interested in finding

out more about the Clavio Facebook, Google

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Ads, U Butte Flash system that we call it.

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:

make sure you reach out to us.

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We can do an audit.

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Dan does audits all the time.

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on Clavio and Facebook and, until

next time, thank you for watching.

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