By Tim Watson @SmartInsights 2/12/13
Email campaigns with unique open rates of 30% and unique click rates of 7% beat email marketing benchmarks and represent great performance that any campaign manager would be happy with. Now try doing that for a daily email across your entire customer database…
That’s harder, but it’s a reality for the Buyometric Daily Deal campaigns. Buyometric are letting me lift the lid on their success formula.
The corner-stone is using highly dynamic and automated deal content targeting driven from a predictive algorithm which factors in several signals about what will most likely appeal to subscribers.
It starts with collecting user preference information after signup. Providing preference information is optional after the signup, yet Buyometric get a massive 78% of new signups to complete this optional step. Its all down to the incredibly smooth user experience, I’vepreviously posted about how this works but to really get it, you’ve got to try it, so go and signup now (and unsubscribe afterwards unless you want to see the daily deals).
The preference process collects details of categories of deals liked and dis-liked. Only three likes are requested whereas the customer can dislike an unlimited number of categories. This makes sense as people tend to have more clarity about those things in which they could never imagine having an interest than those they do.
The Buyometric algorithm then uses the preference information to order and target which deals to include for each individual subscriber. However the matching of the most relevant deals doesn’t end there, the algorithm also factors in
- Subscriber click behaviour – what categories have they actually clicked and browsed
- Deal uniqueness – Buyometric check their database of deals and anything which is unusual to find as a deal is given priority.
- Brand value and quality – the reputation of the brand offering the deal
You might be wondering what happens to the 22% of signups that don’t provide preference data? They are still sent daily emails and the deals are targeted by learning over time. (continue @SmartInsights)