Question

Topic: E-Marketing

Average Conversion Rates For Rewards

Posted by sara.esteves on 5/18/2017 at 7:13 AM ET 250 Points
Hi,
I work for a loyalty program in B2C market for non differentiated customers (it's an energy company so we don't have any behavioral segments non related with energy consumption). In order to create touch points beyond the usual energy contract management stuff, we send every week newsletters containing, among other things, several offers based on partnerships in a "buy and win" concept or perks related with our brand sponsorships (ex: music festivals, cinema, marathons "on a play and win" basis.
For buy and win we have an average conversion rate of 1,5% (redepmtions/opened emails)and for play and win we have 10% (also considering the metric redepmtions/opened emails).

Can anyone share any average conversion rates you might have for this kind of comunications? many thanks
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RESPONSES

  • Posted by mgoodman on 5/18/2017 at 2:17 PM Accepted
    I don't have any averages or benchmarks that would be helpful. What I would offer, though, is a caution: Redemption rates can vary quite a bit across industries, geographies, seasons, life-cycle status, corporate goals, budgets, offers, etc. In fact, the range and variability is so great as to render an "average" useless.

    Your best bet is to set up a series of A/B tests for yourself and test your way to a "personal best" rather than try to compare your results to a standard or average based on what someone else (or some other collective group) suggests as "average."

    What would you do with results that indicate you are above or below the average? What is the indicated action? Better to just be the best you can be.
  • Posted by Shelley Ryan on 6/12/2017 at 6:59 PM Moderator
    Hi Everyone,

    I am closing this question since there hasn't been much recent activity.

    Thanks for participating!

    Shelley
    MarketingProfs
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