What Is Sendy?
Sendy is a major revolution in the world of email marketing using the blockchain. The core goal of this platform will be to give users ownership of their emails and redistribute the value of email marketing by placing value on the attention of subscribers.
How Sendy Decentralized Blockchain Email Rewards Works
Using the blockchain, this project will build a peer-to-peer email protocol that places the user back in charge of their email data. They will essentially be moving the power over your data from centralized systems like it happens today with companies such as Gmail and Outlook.
For marketers, Sendy will reward subscribers for the attention they give them with micropayments for each email interaction. When individuals are incentivized to engage with marketing emails, the marketers are also incentivized to improve the quality of marketing.
Best of all, there is no fundamental change in behavior that is needed for either marketers or those who use the network. This will ensure more meaningful email marketing and less wasteful email SPAM.
The Current Issues
For email subscribers, email marketing sucks. Once you opt into receiving emails from companies, you will usually be treated like a free commodity. However, this is not so since your attention has value to it. In social advertising, marketers also suffer the brunt of poor advertising. However, email marketing is often at times treated like a free commodity. The marketers usually take attention for granted.
The current data shows that over 50% of emails sent for marketing purposes are usually SPAM. This has seriously affected engagement with emails. This is quite contrasting to how relevant the information you see on your newsfeed can be where marketers pay for your time.
For most marketers in 2018, email marketing is still one of the most effective channels for reaching customers. However, engagement with customers is getting harder by the day. Marketing emails now reach just 20% of the intended contacts.
In reaction to the problem of SPAM, big industry players such as Gmail now filter emails into promotions folders and junk. The filtering is based on customer interactions. If emails from a certain marketer have good engagement, they will be given better delivery. Thus, by incentivizing to open and click emails and giving value to their attention, the engagement rate could grow.
The Market Size
Each year, email marketing experiences growth of about 19.6% and is estimated to be worth about $22.6 billion by 2024. It is also worth noting that of 105 billion emails sent daily, over 59% of those are SPAM. Sendy aims to change this trend and take advantage of this huge market.
‘Open Rates’ And ‘Click Rates’ Are Vital
On Gmail, determining where your marketing emails are sent to the user depends on the click rate and opening rate. If a user manually marks your email as SPAM, this could affect your future marketing efforts a lot.