The latest benchmarks for Delivery Rate (DR), Click-through Rate (CTR), and Conversion Rate (CVR) for Push Notification campaigns in different industry verticals are:
Push Notifications sent moments after the mobile app is exited have delivery rates as high as 82.59%. CTRs for behavioral-based Push Notifications reach up to 6.58% on Android phones, and campaign conversion increases to 27.13%. By adding a layer of user personalization (based on attributes like name or geography) on behavior-based Push Notifications, the delivery rate increases to 85.67%, and CTRs reach up to 7.03%.
To improve Push Notification performance, use the Recency, Frequency, Monetary (RFM) segmentation model across the digital buyer journey, run gamification campaigns, and analyze your customer’s spending behavior.
|Industry||Delivery Rate||Open Rate||Click-through Rate||Conversion Rate||Unsubscription Rate|
|Banking and Fintech||97.20%||40.45%||2.16%||11.60%||1.88%|
|Digital Entertainment (OTT)||97.75%||18.64%||0.54%||6.87%||13.87%|
We observed a drastic improvement in performance when email campaigns are created and sent based on user behavior. Open rates go up to 28.17%, CTRs increase to 0.71%, conversions shoot up to 8.97%, and unsubscription rates fell down to 0.06% – all of which indicate that emails sent based on user behavior are relevant and useful to digital consumers who prefer receiving more of such communication without treating it as spam.
We look into the content consumption behavior and truly understand what kind of content will resonate with our customers the most. The goal is to shift the fly-by into moderate and moderate to loyal customers.
In Southeast Asia, DAUs of E-commerce, Retail, and D2C brands have increased by 13.36% from January to April 2021. There’s been an increase of 24.98% in website DAUs, a 19.59% increase in DAUs on iOS devices, and a 6.45% increase in DAUs on Android devices. When studying the number of MAUs of the same brands from January to April 2021, we observed that website MAUs had increased the most by 8.70%.
A strategy that I’ve been implementing to increase product adoption is to build a core loyal following – the true believers of your product, who can spread the word not because they are being paid to do so, but because they find value in your offerings. Brands in the BFSI sector can build this base by inducing customer centricity in their ethos.
Customer Engagement, also known as User Engagement, is the art of interacting with users or customers by a consumer brand. Customer Engagement can happen through online (digital) or offline communication channels.
The process of engaging customers or users by a consumer brand is called Customer Engagement Marketing. This process involves sending personalized communication that your customers find relevant and get excited about. Consumer brands use Customer Engagement Platforms like MoEngage to engage and interact with their users at scale. Customer Engagement Marketing includes the use of Email, Push Notifications, Web Push Messages, In-app Messages, Text Messages (SMS), and Social Media Advertisements.
Customer Engagement is important to increase User Retention and build a loyal customer base. Engaged customers are 5X more likely to make repeat purchases, 4X more likely to refer other users, and 7X more likely to try a new offering or product by your brand.
Brands can measure Customer Engagement by tracking the number of DAU (Daily Active Users) and MAU (Monthly Active Users). A few other ways to measure Customer Engagement include the number of app downloads or website visits, the number of returning users, the frequency of use of your mobile app or website, and time spent (session duration) on your app or website.
The key North Star metrics for Customer Engagement are Open Rates, Click-through Rates (CTR), Click-though-to-open Rates (CTOR), Conversion Rates, and Delivery Rates (DR) of Emails, Push Notifications, SMS, In-app Messages and Website Banners and Pop-ups.
Consumer brands can increase Customer Engagement by adopting an Insight-led Engagement approach. This means observing and analysing user behavior, understanding user preferences and affinity, sending relevant and hyper-personalized messages, building an omnichannel engagement strategy, and getting users back to your app or website to increase n-day User Retention.
MoEngage’s Customer Engagement Benchmarks Report has the latest data of digital consumption in Southeast Asia (DAU and MAU), and the performance benchmarks of different digital marketing channels. The report also contains strategies to improve Customer Engagement and tips from the top industry leaders in Southeast Asia.
1. Online Shopping – Delivery Rate: 98.36%, Open Rate: 11.69%, CTR: 0.37%, Conversion Rate: 4.17%, Unsubscription Rate: 1.88%
2. Banking & Fintech – Delivery Rate: 97.20%, Open Rate: 40.45%, CTR: 2.16%, Conversion Rate: 11.60%, Unsubscription Rate: 1.88%
3. Digital Entertainment (OTT) – Delivery Rate: 97.75%, Open Rate: 18.64%, CTR: 0.54%, Conversion Rate: 6.87%, Unsubscription Rate: 13.87%
1. Online Shopping – DR: 62.38%, CTR: 4.67%, CVR: 22.27%
2. Banking & Fintech – DR: 70.91%, CTR: 8.71%, CVR: 22.58%
3. OTT Streaming – DR: 60.14%, CTR: 4.82%, CVR: 23.21%
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