Consumer Brands in India are Seeing 12X Higher Conversion Rates from Personalized Emails- MoEngage Study

In an era where brands are scaling back their paid and digital marketing efforts due to severe budget cuts and a looming recession, email marketing continues to deliver. This economical channel provides a high return on investment (ROI), enables brands to send personalized communications and provides immediate, measurable results.

But this means that all brands are turning towards email as an optimal consumer marketing solution. Consequently, customers receive hundreds of emails each day, and brands need to go the extra mile to ensure their emails stand out in the inbox. Earlier, click-bait titles and topics might have done this job, but customers are now wary of such tactics and expect brands to be more honest.

Email personalization is a great solution here. Brands can ensure that every aspect of their communication speaks right to the customer and addresses their specific needs. Personalization gives brands a way to reach customers when they want to be reached, about products or services they’re interested in.

A study by MoEngage has shown email personalization to be supremely effective — conversion rates increase by up to 12X, CTOR increases by 12X, and unsubscribe rates reduce by up to 88%. The report outlines email benchmarks for multiple industries, and every industry is showing a great increase in metrics from personalization strategies.

This holds true for conversion rates, open rates, CTORs, and unsubscribe rates too. In fact, customer journey-based personalization is shown to increase CTOR by about 5.4X and open rates by 13.8X.

The email benchmarks report for 2023 outlines similar metrics on a case-by-case basis for multiple industries like Retail and E-commerce, Banking and Fintech, Travel and Hospitality, Media and Entertainment, and more. Every metric across industries sees a direct correlation with sophisticated personalization strategies based on buyer journey stage or customer behavior, when compared to regular attribute-based personalization.

"Today’s customers are seeking more than just a transactional experience. With personalization, brands can make every interaction feel inherently human and authentic, enabling customers to develop a deep and meaningful connection with the brand - not just its products or services. That is precisely where an insights-led customer engagement platform with an AI-powered recommendation and optimization engine comes in, helping paint the whole picture, through a 360-degree customer view, understand customer behavior, and engage across the most preferred channel, at the right time, with the right message, thus offering hyper-personalized experiences while driving business growth," said - Raviteja Dodda, CEO, MoEngage. 

Moreover, old-school personalization methods such as those that relied only on demographics or first-name, don’t seem to be as effective any longer. What’s working is Behavior-based personalization and personalization based on the stage of the buyer journey.

Such advanced personalization tactics require a deep understanding of the customer and a reliable customer engagement tool.

Mailmodo Raises $270K in A Pre-Seed Round by Titan Capital and Other Marquee Investors

Interactive Email Marketing Software, Mailmodo, raises $270K in a pre-seed round by Titan Capital & other marquee investors

22nd January 2021, New Delhi: Mailmodo, an interactive email marketing software for businesses has raised $270K in the pre-seed round funding by Titan Capital, Firstcheque, Gameskraft, Angellist and other marquee groups of investors including Archit Gupta, Deepak Diwakar, Harsh Shah and others. Mailmodo helps businesses create interactive app-like emails to get a better return on investment from email marketing.

The co-founders Aquibur Rahman, Apurv Gupta and Devyesh Tandon came up with the idea of Mailmodo when Google released Accelerated Mobile Pages (AMP) emails publicly. AMP emails allow any business to add dynamic components to an email and show real-time data using APIs. This was previously not possible, and it sure is the future of email marketing. Building Mailmodo was to bring this technology to marketers to create and send interactive emails without any coding skills and get better ROI from their email marketing. It is currently used by clients who hail from diverse industry verticals. Mailmodo's clients claim to receive more than 3x higher conversions from the interactive email campaigns than what they were getting from their older templates. Mailmodo's mission is to simplify email marketing and maximize conversions for businesses with a seamless and easy email reader experience.

Talking about the funding received, Aquibur, Co-founder & CEO, Mailmodo said, "AMP emails allow marketers to create app-like experiences inside the emails and it makes seamless for the users to take the desired actions. People check their emails when travelling, watching tv, or in an elevator in a busy daily life. They don't have time or attention span to open an email, click on the link, go to the website, and take several other steps in between to complete the desired action. Thus interactive app-like emails help marketers to get better conversion rates.We are elated to have gotten the support from the investors who not only provided us with their financial support but also are mentoring us in our journey."

Bipin Shah, partner at Titan Capital, "Despite the radical change in web technologies over the past two decades, emails have been the same more or less. I believe Mailmodo’s no-code platform for creating AMP email has the power to revolutionize email marketing and customer interactions."

Kushal Bhagia, CEO - Firstcheque.vc, "Email as a marketing and communication channel is still one of the most important touchpoints marketers have with customers. We are very excited by MailModo's AMP-based product that allows marketers to go a step further now and build interactive experiences for users within Email, leading to far superior conversions!"

Archit Gupta, CEO, Cleartax, said "Mailmodo is building a product we could have used in ClearTax. I'm investing in Aquib and team to build the future of email marketing."

Over the last nine months, Mailmodo has developed beyond just an email creator to a full-fledged email marketing platform providing email creation, campaign management, automation, journey builder, API triggers and integrations with several marketing tools. Mailmodo will be using the investments to build the founding team, product development and make the product available to the global market.