The power and wisdom of using e-mail remarketingE-mail marketing can leave much to be desired on the strategic front. Many companies underuse this ubiquitous marketing medium due to its reputation as a cost-effective, timely and elementary direct response method. But the best e-mail campaigns maximize their ROI by taking a highly calculated approach that includes strong e-mail design, industry best practices and detailed knowledge of subscribers' preferences and behaviors.
They also use metrics effectively — arguably, one of the strongest benefits of e-mail marketing.
Few marketers, though, go beyond basic open and click-through rates. An E-mailStatCenter.com survey revealed that only 50% of e-mail professionals reported using metrics for budgeting and forecasting purposes. When promoting online registration for its Annual Fall Summit event, CoreNet Global, an association for corporate real estate and workplace executives, teamed with BrightWave Marketing for a metrics-based remarketing e-mail campaign.
BrightWave Marketing based its methodology on the group's e-mail audience profile, response rate and conversion data, refining a message capable of achieving overarching business objectives rather than internal marketing goals. First, the creative was redesigned, which, in the first e-mail, increased the response rate by 100% — 350% in one audience segment.
This e-mail led to 118 registrants for the summit. But an untapped audience remained — those who clicked within the e-mail but had not registered. Our strategy now involved remarketing to these recipients. Before placing them in the remarketing cycle, the recipients were suppressed from all other CoreNet Global e-mail communications. We then classified each recipient as either a current CoreNet Global member or a prospect, and offered everyone an additional discount on event registration.
BrightWave Marketing also created a follow-up e-mail for registrants. This e-mail included additional information to help people navigate the event and connect with other attending professionals, while offering attendees the option of registering additional colleagues at a discount. These multiple e-mails paid off, resulting in 133 event registrations, $119,567 in revenue and a 3,886% ROI.
By focusing on more-interested recipients, our remarketing strategy helped maximize CoreNet Global's conversions. Segmenting the audience that responded to the initial e-mails but did not register resulted in registrations 11% higher than what CoreNet Global originally hoped to achieve.