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I apologize you're seeing this drop in your email engagement. I took a look at your account and can see the change you are describing. Through testing one of your latest campaigns, I was also able to see it landed in my Spam Inbox. Emails landing in Spam can trigger a decrease in your engagement.
Taking a further look shows parts of your campaign includes long links. One of these longer links could be triggering the spam filter in your reader's email clients. Have you tried shortening these longer links before adding them into your email? I also would suggest calling into our Deliverability Department. These support agents specialize in the delivarbility of your emails and can help troubleshoot this spam trigger further for you.
We've been sending the same email template, long links and all, to the same email lists since about 2012 - and it always had the same open rate range. As of this February, it dropped drastically even though we were using the same 'everything'. And by drastically I mean 40% open rate to 5-15% open rate which is screaming at a specific reason - and there are several other people who have complained about the same exact issue in other forums.
What would be helpful is if your team could have a real answer like 'yes, microsoft outlook change the way it scans emails so this is causing...blank... with the latest software update' or something specific that would account for an across the board drop of nearly 70% drop in open rate from one that was consistently the same for the past 9 years... sent 3 times a year... same numbers until Feb 2019.
There's a very specific reason but yet you don't seem to have it. And without it, a solution or way to address it can't really be found.
Are you seeing any patterns with your email contacts that haven't opened? Are you noticing any domains in particular? Back in March we did come across reports of Hotmail was deferring email. In fact this was affecting all Hotmail domains - Hotmail, MSN, Outlook, live.com. But we were able to work with them to help get emails back in the inbox.
There were also cases where Outlook 365 users experiencing deliverability issues. These users are seeing Outlook marking emails as Spam. Are any of these contacts Outlook 365 users who are seeing your email being delivered to their Spam folder? If so, it is important to note this is an experience we are working with Microsoft Support to resolve. In the meantime we suggest adjusting your internal spam filtering settings. We also suggest marking the email as not spam and reporting this to Microsoft directly. The option to report this to their support directly is available through the section titled: Submit messages that were tagged as junk but should have been allowed through.
A best practice step we always suggest to help with open rates is cleaning up your contact lists. You can use our segment tool to locate contacts that have never opened any email. You can even remove any bounces there may be as well. With that said, the good news is I can see your most recent email has contacts that are continuing to open since it's sent date!