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Author: Franz Malten Buemann
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What the Future of Open Rates Looks Like in 2021 and Beyond
Apple’s Mail Privacy Protection feature has put the future of open rates in serious jeopardy. Let’s take a look at what the future of open rates looks like.
Ask any marketer what they measure their email marketing results by, and without fail, one of the first statistics they’ll mention is open rate.
It makes perfect sense that this would be one of the first metrics named, as it’s often the top line on anyone’s email marketing analytics dashboard. As long as marketers have been sending emails to customers and prospects, they’ve been looking at open rates to give an indicator of success.
But with the release of Apple’s Mail Privacy Protection feature, all of that is about to change. For a very in-depth look at MPP and how it works, you’ll want to consult our guide on the topic. But for the sake of this article, you only need to know this key effect:
MPP takes away marketers’ ability to track open rates, meaning the future of open rates, and how we measure success in email, is changing in real-time.
But does this mean that the open rate as a meaningful metric is really dead? Let’s take a look at the future of open rates, and how we can start thinking beyond them from this point forward.
So, are open rates really dead?
Yes, pretty much! Listen, the is ____ dead?! conversation is usually an overblown, knee-jerk reaction to something. People have been trying to say this about email for years. But this time, it’s very true. Email open rates as we know them are a thing of the past.
Here’s a quick rundown on how Apple’s Mail Privacy Protection feature works.
When a user opts-in to Mail Privacy Protection, they’re allowing Apple to pre-fetch (or download), emails and email images to their device. This takes place with or without the user deciding to open and read the email message. Email image pixels, which indicate opens and open rates, are included in this pre-loading. This means an email may be marked as open even though the user did not open or read it.
Anyone using the native Apple Mail application to read their email, be it on an iPhone, an iPad, or a Mac, is able to turn these features on. And while we don’t know what the option rate will be, you can expect it to be high. Initial surveys show that this could end up affecting 30-40% of your total subscriber list, depending on your demographic.
With 30-40% of your open rate data becoming completely unreliable, we think it’s safe to say that, as this feature gets adopted, open rate will become an increasingly unreliable and unimportant metric.
Why you don’t need open rates to be successful
While this may seem sudden and drastic, the truth is, open rates have never been as reliable as you might think. While open rate was designed to reflect human interaction with an email, those numbers have already been skewed in the past by anti-spam filters, autoresponders, and an increasing number of mailbox providers who had already disabled open tracking.
So, though this is the biggest and likely final nail in the coffin, the open rate was never the solid, reliable metric that you might have thought.
Even at its best, open rate as a metric was not a key indicator of success — it was merely a proxy we used along the way. Website visits, purchases, revenue generated; those are the sorts of goals we’re after when crafting an email campaign. And in a post-MPP world, it’s more important than ever to keep their entire customer experience in mind, not just open rates.
Creative ways to track engagement without tracking opens
Yes, open rates offered insight into how engaged your subscribers were, and you might be worried about how to track reader engagement moving forward. Don’t fret, there are plenty of other, more important metrics to track that will give you a better understanding of how and how frequently subscribers are interacting with your emails.
Here are some ideas we have on optimizing your emails for engagement, beyond opens:
Use surveys to get a pulse on your subscribers
Including surveys in your emails moving forward is going to be clever for a couple of reasons. First, surveys are a great way to invite clicks in an email that might not garner many otherwise. Giving readers different ways to click on your emails will help you get a good idea of who’s engaged and who isn’t.
Second, surveys can be a great way to gather first-party data. You can ask your subscribers for their content preferences, or even gather information. Asking for data like their location or what industry they work in with help you segment your audience further, and deliver a more personalized email experience.Chili Piper executes the survey idea well in a recent newsletter. There’s more content underneath, but leading with a survey in the intro gives readers a clickable element up top. It also gives Chili Piper the chance to learn more about their subscribers in a friendly, voluntary way.
Encourage replies
Replies are also a trackable metric that you can use to monitor email engagement. And what’s cool about this one is that inviting replies is much more personal. It shows that there’s a person behind the creation of that email, not just a company.
With this in mind, you’ll want to make sure you have a system in place for handling replies. Asking for replies in an email going to a huge list all at once could overwhelm whoever is replying to them on your team. But asking for a reply to a welcome email, for example, which goes out automatically at different times, is unlikely to overwhelm your inbox too much.
Look at user activity on your website
As we mentioned earlier, the goal of an email campaign is rarely just to get opens or clicks. Mor often than not, it’s what a user does after clicking through your email that’s important.
If you have access to Google Analytics or other tools on your website, use it to see what activity users ate taking after clicking your email. How many are purchasing a product? How many are scheduling a demo? It’s often the activity after they click an email that matters, and those are the high-value insights you need to include in your reporting.
How we’re adjusting in Campaign Monitor
Since Apple announced Mail Privacy Protection, our product team has been adjusting our analytics dashboard to show you meaningful, accurate metrics moving forward.
To give you the most reliable measure of email engagement, we replaced CTOR with click rate on the Campaign and Overview pages. You can still access CTOR from the Clicked column — check out the example below.Click-tool-tip
We have added handy reminders about these email metrics that you can refer to. Click Learn more to access relevant resources on our Help Center.email-metrics-reminder
And remember, we’re in the early days of this, and we’re still testing and studying the impacts. We will have further updates for you once we have more information.
Wrap up
Yes, it looks like this is the end of open rate as a reliable email marketing metric. In the short term, we’ll need to rethink some of the ways we report success for email campaigns. But this also gives us a chance to reflect on what metrics really matter to our campaigns, and start optimizing for and reporting on those things.
The open rate is dead, but email is anything but.
The post What the Future of Open Rates Looks Like in 2021 and Beyond appeared first on Campaign Monitor. -
Zoom Aims to Improve CX With Video Engagement Center
We regularly interact with family, friends, and business colleagues using video. But companies have fallen behind at promoting video when it comes to communicating with their customers — whether for sales, support, or customer service. Zoom’s Video Engagement Center (VEC), announced at Zoomtopia, will address requests from customers and agents. It also will provide the framework that allows companies to deliver a better customer experience. The cloud-based solution will be available in early 2022, and it will allow companies to implement video-optimized workflows using templates provided by Zoom. Videos can start from digital channels or physical locations and integrate with other interaction channels, while leveraging AI applications along the customer journey. Full article: https://www.nojitter.com/contact-center-customer-experience/zoom-aims-improve-cx-video-engagement-center
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Top 5 Reasons to Attend INBOUND 2021, According to HubSpot’s Global Events Team
INBOUND 2021 — hosted with love by HubSpot — is a fully immersive, online experience that gives you access to transformative business trends, proactive conversations, and key actionable takeaways that future you will appreciate.
INBOUND has been hosted by HubSpot for over ten years, and is one of the world’s largest marketing conferences, attracting more than 26,000 attendees from 110 countries.
But this year, INBOUND is especially unique — as it’s built with remote work in-mind, so you can learn from anywhere with audio sessions, meetups, and on-demand content.
Additionally, you’ll hear from Oprah Winfrey, Spike Lee, David Chang, and more.
Here, let’s explore five reasons you’ll want to attend INBOUND 2021, according to HubSpot’s Global Events team.1. BLACK@INBOUND
Black@INBOUND is a global community that gathers Black professionals across industries to grow and network. HubSpot customer Devyn Bellamy first founded Black@INBOUND at INBOUND to find and connect with other Black professionals.
Since then, Black@INBOUND has grown into a dynamic and interactive meet-up for passionate HubSpot fans and INBOUND enthusiasts.
Don’t miss the Black@INBOUND events just for you — including our exclusive Meetup with the community at 3:45 PM EST on October 12. Join the virtual cookout and meet all the members of the Community. Then stay tuned for an amazing panel: Mentorship and Advocacy in Black Business Leadership.Black@INBOUND is an inclusive community intended for Black business professionals as a space to gather, connect, and share resources.
Black HubSpot users, customers, or fans are welcome to join this space by creating a HubSpot Community profile.
2. The HubSpot Podcast Network
The HubSpot Podcast Network Live will be live at INBOUND 2021! Yes, we want you to step away from your computer screen, give your eyes a rest, head out for a walk and learn from anywhere.
HubSpot’s Podcast Network is the audio destination for business professionals who seek the best education and inspiration to best approach the ever-evolving business landscape.
We will feature exclusive episodes recorded specifically for INBOUND from Entrepreneurs on Fire, My First Million, The Salesman Podcast, and the MarTech Podcast at INBOUND 2021:
Entrepreneurs on Fire
Host John Lee Dumas delivers the inspiration and strategies you need to fire up your entrepreneurial journey and create the life you’ve always dreamed of.
My First Million
Host Sam Parr and Shaan Puri brainstorm new business ideas based on trends and opportunities in the market and share the stories of how companies made their first million.
MarTech Podcast
The MarTech Podcast tells stories of marketers who use technology to generate growth and achieve success. It unearths the successes and pitfalls of industry experts and teaches the tools and tips that they’ve learned along the way.
The Salesman Podcast
The Salesman Podcast is the world’s most downloaded B2B sales podcast. Host Will Barron helps sales professionals find buyers and win business in a modern, effective, and ethical way.3. HubSpot at INBOUND
Join us at HubSpot’s Product announcement, where you can join Yamini Rangan, Brian Halligan, and Dharmesh Shah as they continue to push the boundaries at HubSpot. Explore some of HubSpot’s new and improved product offerings and how we are focusing on customer success to meet our goals.
This is Yamin Rangan’s first INBOUND as the CEO of HubSpot.
Of her new role, Yamini Rangan said, “It’s the honor of a lifetime to partner with our founders to write HubSpot’s next chapter. My goal is to make our customers, partners, employees, and investors proud — proud to grow their businesses, careers, and futures with HubSpot … I couldn’t be more excited for the future of HubSpot’s journey.”
4. Diverse Spotlight and Breakout Speakers
Oprah Winfrey will be headlining INBOUND 2021.
Oprah Winfrey is a global media leader, philanthropist, producer, and actress. She has created an unparalleled connection with people worldwide, making her one of the most respected and admired figures today.
For 25 years, Winfrey was host and producer of the award-winning talk show, The Oprah Winfrey Show. In her role as Chairman and CEO of OWN: Oprah Winfrey Network, she’s guiding her cable network to success. Winfrey is also the founder of O, The Oprah Magazine, and oversees Harpo Films.
Oprah Winfrey’s exclusive session at INBOUND 2021 is all about the lessons learned on the road to success. See how Oprah — and yourself — can transform failures into lessons.
Spike Lee will guide attendees through an exclusive session that helps you draw ambition out of themselves and others.
Hasan Minhaj takes attendees with him as he explores different ways for you to find your inner voice and follow your passions.
David Chang of Momofuku helps you turn those passions into a business, and he gives you his secret recipe on how he did just that.
Additionally, join lifelong advocate and internationally recognized leader Judith Huemann for an insightful discussion on what ableist privilege looks like and what it means for companies to truly support disabled employees as a prominent community in the DI&B ecosystem.
Experience over 100+ similar sessions at INBOUND 2021 with some of the smartest and innovative thought leaders.
5. The Agenda
INBOUND 2021 offers an immersive and interactive digital experience for all attendees. You will get the chance to create a personalized avatar, join sponsoring partner’s meetups, explore workshops for personal development, and network with a global audience from various backgrounds and industries.
The agenda this year is extraordinary. You can find educational sessions, workshops, Ask Me Anything, debates, and meetup networking sessions. You can customize your agenda by filtering out tracks for Marketing, Sales, Customer Success, HubSpot Academy, and RevOps. There’s something for everyone.
How to attend?
The great thing about INBOUND 2021 this year is that it’s a fully immersive digital experience. You can attend from the comfort of your couch, hop on over to your favorite cafe, listen to sessions while you’re working out. There are endless ways to attend and enjoy INBOUND this year.
You can go ahead and claim your free starter pass, which will allow you to attend our exciting spotlight speaker sessions. You can purchase our Powerhouse pass, which gives you full access to the INBOUND 2021 agenda and platform. -
4 Tips for Surviving in a Retail Contact Center
With businesses reopening after COVID-19 closures, US economist Mark Zandi asserts that retailers benefited significantly from the reopening economy. Moreover, retail spending is expected to increase by 19% this year.
These predictions represent significant opportunity for retailers. That’s why it’s more important than ever to have a superior customer service strategy — that includes ensuring your retail contact center operations are optimized for a smooth customer experience.
The Contact Center Guide to Managing Spikes in Call Volume
Why retail call centers are so important.
Competition for retailers is fierce, both brick and mortar stores and online retailers. Retail customers have more options than ever to purchase a product — often even the same product!
When you have multiple retailers that sell a product at similar price points, the decision-making power goes to the consumer. We know that 75% of customers prefer a personalized shopping experience, so your retail call center needs to focus on developing a customer experience that is so good, they won’t even think of leaving your brand.
How to Prepare Your Call Center for a Crisis: Black Friday and
Cyber Monday
Customers want solutions immediately, even when they’re not shopping in-store. That’s where your contact center needs to deliver — if your contact center experience falls short, you leave yourself open to negative reviews and poor service reputation, which can seriously hurt your sales. Quality customer service is essential for customer loyalty and satisfaction.
Today’s biggest challenges for retail contact centers.
Staffing levels and agent attrition.
Contact centers are notorious for high turnover rates. Pair that with the great resignation of the post-COVID-19 pandemic, and you may find yourself with a serious staffing problem. With the rise of remote work, retail contact center leaders have to pivot their recruiting and hiring processes to accommodate this growing trend. With all this change, it’s no wonder that 44% of operations leaders cited staffing as a challenge this year!
Technology to support remote work.
Staffing isn’t the only thing that took a hit from the pandemic. Contact center leaders quickly realized their technology needed major upgrades as they shifted from in-person to virtual operations. Technology limits posed obstacles to business growth for 25.7% of retail contact center leaders.
Data security.
When dealing with customer data, security plays a critical part in the contact center space. The shift to virtual work posed new security risks for retail contact centers. 36.2% of contact centers cited security risks and fraud prevention as a challenge for 2021. It’s more important now than ever for contact center leaders to invest in security to protect customer and company data.
Common challenges for retail contact center agents.
High customer expectations.
Customer expectations are higher than ever, especially when it comes to service and support. Without the proper procedures and training in place, retail contact center agents face higher levels of frustration with customers, especially during the holiday shopping season.
Limited tools and technology.
Although technology limits pose challenges for management teams, the impact is even greater for customer-facing agents. Without the proper tools to leverage, agent productivity and engagement will plummet, affecting customer satisfaction.
4 ways to survive working in a retail contact center.
With so many challenges looming this year for retail contact centers, it can be intimidating to lead your team with so many variables in play. Luckily, there are ways to overcome them:
Be customer-obsessed.
Customer-obsessed businesses grow revenue faster than their competitors. This entails having a special focus on retail customer experience. All your operations should be tailored to consider your customer’s needs first.
For example, Fonolo’s programmable call-backs empower customers to opt for a call-back instead of waiting on hold. This empowerment is especially valuable for retailers during the holiday shopping time, when call spikes are common.
Stay flexible and adaptable.
The COVID-19 pandemic taught businesses that innovation is key to survival. That means losing rigid processes and adapting to the changing landscape. For example, customer expectations continue to rise, as they expect retailers to be available to support them quickly, at all hours. Flexibility helps your retail contact center meet changing customer expectations to continue growth and make sales.FACT:
Depending on your business, contact center outsourcing may help you find significant cost savings.Explore tools and technology.
Retail contact centers must update their tools and technology to manage changing customer needs. For example, customers now expect immediate, real-time service. So, you might consider investing in a chatbot function or Fonolo’s Visual IVR, to give customers around-the-clock access to service.
Invest in training.
As a contact center leader, you likely know that effective training is essential for agent performance. This is especially true for remote agents. Remote call center agent training might include a standardized virtual training program, with a special focus on fostering agent engagement.The post Blog first appeared on Fonolo. -
Tools for modern citizens
It has taken us by surprise, but in our current situation, when everyone has more of a voice and more impact on the public than ever before, it suddenly matters. You wouldn’t take your car to a mechanic who didn’t know how to fix a car, and citizens, each of us, should be held to at least as high a standard of knowledge.
Everyone around us needs to know about:
Statistics
Germ theory
Epidemiology
Decision making
Propaganda and the status quo
Semiotics and indoctrination
The mechanics of global weather
Network effects
and artificial intelligence
Either we are the makers of our future or we’re the victims. And if we don’t understand these fundamental components of how the world works, our actions may undermine our goals as well as the people around us.
The world is changing fast and we’re all more connected than ever before. The good news is that these are all skills, they can be learned and it’s imperative that we teach them to others.
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Reconnect with the Trailblazer Community at Tahoe Dreamin
For those that were able to attend Salesforce’s annual Dreamforce conference in person in San Francisco in September, the energy of the Trailblazer Community was undeniable. It demonstrated that a return to in-person community events while maintaining the appropriate safety protocols, is possible. Meeting up… Read More
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When they ask you to lead, will you be ready?
Akimbo, an independent B corp., continues to show us how cohort-based learning can change lives for the better. I hope you’ll check out what my friends at Akimbo are up to:
The Early Decision Deadline is today, October 5th for altMBA’s January 2022 session.
You’re invited to write and publish a book in the next six months. It works because you don’t do it alone. It’s the last day to join the current session of Writing in Community.Bernadette Jiwa’s breakthrough Story Skills Workshop starts next month, register by November 2nd.
The Creative’s Workshop, which inspired The Practice is starting now—register by Oct 12th.
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Turning CX Numbers into CX Insight
Famous American computer scientist and mathematician Richard Hamming once said that “the purpose of computing is insight, not numbers.” That logic is difficult to argue against – and the CX industry is informed by numbers that are driving profound changes in how businesses (and the clients they’re interacting with) are behaving. In Five9’s 2021 CSI study, 30% of respondents stated that they’d walked away from a business they’d been loyal to because of a bad customer experience with the contact center. With numbers that scary, it’s obviously important for a business to pivot with speed and agility on the back of solid insight when required. Historically this has been a difficult, laborious, largely manual, and rigid process. Surveys, feedback, mystery shoppers/callers, spreadsheets, covert eavesdropping on customer interactions. Source: https://www.five9.com/blog/2021-turning-cx-numbers-into-cx-insight
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What Is a Revenue Model?
Deciding how you’ll generate revenue is one of the most challenging decisions for a business to make, aside from coming up with what you’ll actually sell.
You want to ensure that you’re accounting for production costs, salaries for workers, what your consumers are willing to pay, and that you generate enough to continue business operations. You also want to make sure that your strategy fits with what you’re trying to sell.
Various revenue models will help you set your business on the right path. In this post, we’ll outline what they are and how to choose the right one for your company.Revenue models are not to be confused with pricing models, which is when a business considers the products’ value and target audience to establish the best possible price for what they are selling to maximize profits. Once the pricing strategy is set, the revenue model will dictate how customers pay that price when they purchase.
RevOps teams also use pricing models to predict and forecast revenue for future business planning. Knowing where your money is coming from and how you’ll get it makes it easier to predict how often it will come in.
There are various revenue models that businesses use, and we’ll cover some below.
Types of Revenue Models
Recurring Revenue Model
Recurring revenue model, sometimes called the subscription revenue model, generates revenue by charging customers at specific intervals (monthly, quarterly, annually, etc.) for access to a product or service. Businesses using this model are guaranteed to receive payment at each interval so long as customers don’t cancel their plans.
Recurring Revenue Model Example
Businesses that benefit from recurring revenue models are service-based (like providing software), product-based (like subscription boxes), or content-based (like newspapers or streaming services). Businesses you may be familiar with that use this strategy are Spotify, Amazon, and Hello Fresh.
Affiliate Revenue Model
Businesses using affiliate revenue models generate revenue through commission, as they sell items from other retailers on their site or vice versa.
Sellers work with different businesses to advertise and sell their products, tracking transactions with an affiliate link. When someone makes a purchase, the unique link notes the responsible affiliate, and commission is paid.
Affiliate Revenue Model Example
Businesses you may be familiar with that use the affiliate revenue model include Amazon affiliate links and ticket promoting services. Influencers also use this model to advertise products from businesses and entice users to purchase them through custom links.
Advertising Revenue Model
The advertising revenue model involves selling advertising space to other businesses. This space is sought after because the advertiser (who is selling the space) has high traffic and large audiences that the buyer (who is purchasing the space) wants to benefit from to give their business, product, or service visibility.
Advertising Revenue Model Example
Various types of online businesses use this model, like YouTube and Google, and so do traditional outlets like newspapers and magazines.
Sales Revenue Model
The sales revenue model states that you make money by selling goods and services to consumers, online and in person. Therefore, any business that directly sells products and services uses this model.
Sales Revenue Model Example
Clothing stores that only sell their products in a storefront or business-specific retail website use the sales revenue model as they sell directly to consumers with no third-party involvement.
SaaS Revenue Model
The Software as a Service (SaaS) revenue model is similar to the recurring revenue model as users are charged on an interval basis to use software. Businesses using this model focus on customer retention, as revenue is only guaranteed if you keep your customers. The image below is the HubSpot Marketing Hub pricing page that uses the SaaS recurring subscription model pricing.
SaaS Revenue Model Example
Businesses using this revenue model include video conferencing tool Zoom, communication platform Slack, and Adobe Suite.
How to Choose a Revenue Model
Choosing a revenue model is entirely dependent on your specific business needs and your pricing strategy.
There is no one-size-fits-all solution, and some businesses have multiple revenue streams within their revenue model. For example, if you use a recurring revenue model, you still may sell advertising space on your website to other businesses because you have a high-traffic page.
There are some key factors to keep in mind, though:
1. Understand your audience.
When picking a revenue model, the most important thing to remember is the target market and audience your pricing strategy has identified. You want to understand their pain points and what model makes the most sense for charging them.
For example, if you’re a service that sells meal kits, your target audience is likely busy and wants the convenience of food that is set up and easy to make after a long day. Using the recurring revenue model makes sense, as you’ll automatically charge them on an interval basis, and they won’t have to remember to submit payment — speaking directly to their desire for convenience.
2. Understand your product or service.
It’s also essential to have an in-depth understanding of your product or service and how your audience will use it. For example, if you sell shoes, your audience likely won’t need a new pair every month, so it may make sense to go with the Sales Revenue Model. Instead, your customers can come to you directly every time they need a new pair.
Choose the Model That Best Fits Your Needs
Ultimately, choosing a revenue model is centered around understanding what makes the most sense for what you’re selling and what makes the most sense (and will be most convenient) for the audiences you’re targeting.
Take time to develop your pricing strategy, choose a revenue model aligned with it, and begin generating revenue. -
7 UI/UX Features to Implement in Every Salesforce Project
User experience design for Salesforce is becoming an increasingly hot topic, with a brand new Salesforce certification to cement its importance. User experience can truly make or break a system, either facilitating success or preventing user adoption. In this article, we’ll explore 7 features to… Read More