[April 10, 2018] |
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New Benchmark Report Reveals That Retailers Who Tailor Emails to Customer Behaviors and Product Insights See Increased Sales, Opens
Bluecore,
an AI-driven retail marketing platform that brings together website,
customer and live product insights to match customers with the products
they love, today released its 2018 Retail Email Benchmark Report. The
report, which is based on proprietary insights isolated from a sample
set of more than 350 million emails aggregated across more than 400
retail clients, offers retailers guidelines for assessing the
performance of their automated email campaigns and one-time batch sends.
The complete report is available for download [here].
Bluecore's 2018 Retail Email Benchmark Report is based on data collected
between October 2016 and September 2017. It establishes quantifiable
benchmarks for seven types of triggered emails, as well as one-time
batch sends, and reveals key areas for retailers to refine their
strategic email use.
Bluecore's research revealed, among other things, that, while tailored
efforts such as back-in-stock and post purchase messages offer value,
most retailers still limit their automated email activities to search
abandonment and shopping cart abandonment campaigns and rely on "batch
and blast" campaigns for general awareness.
Key findings include:
If shoppers have seen a product they like once, they respond well to
seeing it again. Customers who received emails that showcase
products they have "window shopped" - viewed without taking action - or
placed in shopping carts, were most likely to open these messages. Open
rates for both types of efforts topped 40 percent.
Shoppers ontinue to respond to product price decreases. When
customers were made aware of price decreases on products they've
displayed interest in, more than one in ten, or 10 percent,
clicked through to a brand's website. While discounted pricing does not
always influence customer action, integrating product information into
the email system and updating customers who are likely to be interested
about decreased pricing as it happens is a lucrative tactic.
Second looks lead to purchases. Messages that feature merchandise
placed in shopping carts and then abandoned generated sales 2 percent
of the time - a rate four times that of the next-most-effective
tactics: price decrease notifications and dynamic emails featuring items
that were viewed but not placed in carts.
Consumers like to be reminded of food, leisure and technology. Most
verticals saw cart abandonment open rates in the 37 to 42 percent
range, but consumers who received messages focusing on the food, leisure
and technology categories were most likely to open emails. These
categories generated the highest sales conversion rates as well: just under
12 percent of those receiving technology-focused messages and 11
percent of those opening food and leisure-related messages
ultimately made purchases.
Marketers are under-utilizing several email contact strategies. Messages
that reflect abandoned items, whether those left in a cart, searched for
onsite, or merely viewed, are fast becoming industry standards - roughly 75
percent of marketers use each of these types of emails. But there's
still room for marketers to do more, especially when it comes to post
purchase, price reduction, and new merchandise messaging: barely one
in four marketers employ these strategies. And only one in ten
use email to alert browsers that out-of-stock merchandise is available
again.
"Customer behaviors are telling retailers what they need to know to
tailor their communications, but retailers aren't always sure how to
translate this knowledge tactically," said Fayez Mohamood, CEO of
Bluecore. "Our report showcases how they can integrate product-based
insights into existing marketing workflows. By not taking advantage of
these activities, they're leaving revenue and relevancy on the table."
For over three years, Bluecore has worked with hundreds of retailers
across a variety of verticals to track how customers' different
behaviors and engagement with specific products directly inform the
email promotions to which they're most likely to respond. Bluecore's
integration into live product sets put retailers in a unique position to
acutely understand individual shoppers' needs and predict trends and
behaviors across audiences.
About Bluecore
Bluecore is an AI-driven retail marketing platform that brings together
website, customer and live product insights to match customers with the
products they love. By activating dynamic product data for the first
time, Bluecore's email marketing solution solves the missing piece of
the performance puzzle: the ability to respond to customer behaviors
with triggered and individualized communication. Hundreds of brands and
retailers, including Teleflora, Vineyard Vines, Staples and Best Buy (News - Alert)
Canada, use Bluecore to drive increased revenue with less effort by
connecting customers to the products they'll love. Learn more at www.bluecore.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180410005996/en/
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