Vol. 147Feb 2026

The Year the
Welcome Sequence
Died

Most email benchmarks are lying to you. Not with malice — with aggregation. Industry averages flatten the signal. Dispatch reads the cohort data your ESP buries in footnotes.

Free. No pitch decks. No affiliate links. Browse the Archive →

M
S
A

4,200+ email marketers already reading

— Marginalia —
DISPATCHFEB 2026open rate← inbox?

Deliverability Index

Inbox placement fell 11 pts in Q4.

Across 847 monitored domains

Avg. Open Rate — B2C SaaS

18.4%

↓ 6.2 pts

12-month rolling · 847 domains

¹ Data sourced from 12,400 campaigns
² Cohort: B2C SaaS, list size 2k–50k
³ Period: Jan 2025 – Feb 2026

Fig. 01

Industry averages versus
real cohort data.

We tracked 847 sending domains across 12,400 campaigns. The gap between what ESPs report as "good" and what actually moves revenue is not a rounding error — it's a category mistake.

Industry Average
Dispatch Cohort
Open Rate↑ 12.7 pts above avg
21.5%
34.2%
Click Rate2.5× industry
2.3%
5.8%
Inbox Place.Top 10% of senders
79%
91%
Unsub Rate↓ 64% lower churn
0.5%
0.18%

The cohort excludes e-commerce promotional blasts and counts only transactional + editorial sequences. Apples to apples.

The finding

63%

of senders using industry benchmarks as KPI targets are optimizing for the median of a broken population.

The fix

Build your own benchmark.

Issue #139 walks through the exact cohort methodology. It's free in the archive. Read it →

*

All figures from Dispatch internal cohort. Methodology published in Vol. 131. Reproducible with standard ESP export + Python.

From Issue #132

"The welcome sequence is not a funnel. It's a first impression written in code, sent at three in the morning to someone who typed their email into a box because they actually believed you."

D

Dispatch, Vol. 132

"The Anatomy of a Dead Sequence" — Oct 2025

147

Issues published

4,200+

Active subscribers

61%

Avg. open rate

0

Sponsored issues

Fig. 02 — Autopsy

A failing automation,
annotated.

This is a real welcome sequence from a $2M/yr SaaS company. Five mistakes. Each one was fixable in under an hour. None were caught before the sequence went live to 40,000 subscribers.

Result of these 5 errors

−38%

click-to-open rate versus their own 90-day baseline. Recovered after Issue #144's checklist.

klaviyo.com / flows / welcome-series / email-1
Welcome to Acme — Your account is ready ✓
Get Started
Explore Features
Watch Tutorial
Read Docs
Join Community
Contact Support
Hi {first_name}, welcome aboard.

Subject line repeated in preview text — zero incremental lift.

Sent at 9:02 AM EST. 73% of list is on PST. They woke up to this.

CTA #1 of 6. Reader fatigue starts at CTA #2.

Personalization token broke. "Hi {first_name}" shipped to 12k inboxes.

Unsubscribe link below the fold on mobile. GDPR flag.

Composite of real sequences reviewed in Vol. 144. Company names redacted.

Don't miss the next one

Vol. 148 drops next Tuesday.