A few weeks ago we released an email metrics study that gathered data from over 6,000 email marketing campaigns that looks at what works best and breaks down the data by campaign type and credit union size.
You can download the study in it’s entirety here, but we also wanted to talk about some of the statistics in-depth to give you a feel for what’s producing results and how you can tailor your email campaigns to achieve a higher open and click-through rate.
One thing we found was that triggered emails were a wildly successful component of an email marketing strategy. To put it simply, triggered emails are messages that are sent based on an action. For example, if a member calls in to request information on car loan rates an email can immediately be sent to them in real-time with helpful information. They can also be automated using DocuMatix On Demand and sent out in certain circumstances, like when a member’s direct deposit posts to their account.
On average, triggered emails sent by DocuMatix users saw a 35.5% unique open rate. To compare, the average unique open rate in the financial industry is 22.6%. Sending triggered emails not only boosts the likelihood of your email being opened, but they also had a much higher unique click-through rate of 10.7% versus the industry average 3.5%. That means members aren’t just opening your emails, they’re reading and engaging.
Do you implement triggered emails in your marketing strategy? Have you seen results?