Happy Thursday, everyone. We get a lot of questions about "benchmarks"
"How well should my cart abandonment program convert?"
"What's the perfect timing for a win-back email?"
"Are my open rates good?"
"What are the industry benchmarks? How do I compare?"
I feel borderline irresponsible, answering these questions with anything other
than, "I don't know." That may sound strange coming from someone who has worked
in email for the last eight years.
Here's my problem with benchmarks.
99.99% of them are so situational that they could never provide an accurate
frame of reference for comparison. It's apples to oranges. There are so many variables
that make generic benchmarks useless. Competitive pressure, discounting strategy,
urgency, intent, traffic source, seasonality, customer mindset, and the list goes
on. These nuances make it impossible to compare your performance to that of another
Here's the next part of my answer.
Unless you can find benchmark data on a brand that is doing what you're doing,
in your industry, serving the same customers, in the same context, stop trying
to compare yourself to others.
Instead, execute on your ideas, establish your own internal benchmarks, then beat
I've got three other updates for you this week:
- Why you need to stop sending to inactive subscribers
- We advocate for double opt-in, and you should too
- Industry recognition from Venture Harbour