Phase 1: Startup (Jeni)
Jeni at A1 Books was intrigued when her email service provider (Netcore) came to her with an exciting offer. Netcore had partnered with MuCo to provide its enterprise customers free Mu credits if they agreed to reward their customers for various actions in the emails they sent. (The credits got converted into Mu points when consumers did the relevant actions.) It was a no-brainer for Jeni. She had been thinking about ways to get her email open rates up from 12%. Even though that was better than the industry average, it meant that 7 out of 8 emails A1 Books sent were being ignored.
Netcore offered Jeni ideas for combining AMP and Atomic Rewards, as part of its Email 2.0 initiative. AMP made emails interactive, with engagement taking place within the email itself. No waiting for clickthroughs and no need for creating landing pages. Netcore’s AMP editor would help Jeni construct the emails easily. The Atomic Rewards idea excited Jeni. She could now offer micro-incentives within the emails for various actions she desired from the recipients: faster conversions, feedback, and additional data to help her martech system do better personalisation. She signed up for Netcore’s Email 2.0 program.
Her first campaign had just gone live. The data was off the charts. Opens (helped by the µ in the Subject) were up 3X. Conversions for those who got emails like the one Arun got were double the normal rate. Many of those who had opened up the emails had also engaged with the email footer, providing her with a 4X increase in NPS inputs and a 7X increase in the data collected. The best thing of all was that the campaign was a money spinner with the AMP Ads at the bottom. Advertisers like Netflix paid A1 Books for the actions and leads generated. A “confidential clean room” had matched A1 subscriber data with Netflix subscribers to ensure there was no ad sent to someone who was not a subscriber – without compromising on privacy and making ads useful for recipients.
For Jeni, this partnership with Netcore and MuCo opened up a new world of possibilities. Her email program could now go beyond just 1-way despatch of messages; it could become a micro-store capable of not just transaction revenue but also advertising income. She was already thinking ahead. What kind of unique experiences could she create for the soon-to-be-launched MuCo Marketplace which would let her earn Mu from product sales? She could then reinvest the Mu into her email program to drive more actions. She was especially keen to test our referrals – offer µ in return for names of three friends from customers like Arun who could be potential future buyers. This would help Jeni cut the ad spending that was going out of hand on Google and the Meta properties.
It was just Day One, but Jeni could sense a new future being birthed. The Muniverse could help her build hotlines to her existing customers. And she was right on the frontlines!
