Which activities improve the results from email marketing
Time is often limited when creating emails and planning marketing automation activities, so it’s useful to focus your activities carefully in order to gain the best ROI.
This new research reviews the success factors for email marketing, which is a highly rated channel for ROI.
Brands that describe their email marketing programs as successful report generating an average email marketing ROI of 42 to 1, while average email programs report an ROI of 37 to 1.
Yet similar to our Email marketing excellence research this research shows measuring the ROI is challenging:
Beyond measurement, the research examined a wide range of factors. The visual below is worth reviewing since, as the report details, there are some surprises amongst the ones that were associated with increased ROIs and by some of the ones that weren’t.
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Chart of the Day: Shopping moves away from retailers after the first purchase
If your company sells products that lend themselves to repeat purchases, your marketplace visibility is essential. Cars, laptops, and suits may be more one-off buys (unless you’re of a particularly affluent persuasion), but when customers want small items, they opt for online marketplaces over retailers and buying directly from brands.
Research from Salesforce and Publicis.Sapient found that 87% of people begin their search for a product on digital channels, up 16% from last year. When asked where this search starts, 28% of people prefer to start with Amazon, though 48% of people prefer Google (a large increase from 17% of people last year).
When searching for products for the first time, it would seem that the public prefers to find a retailer through Google, and then browse marketplaces for…
Chart of the Day: Research shows the most popular measurements and KPIs for email marketing evaluation
I’ve been taking a look at the latest trends in email marketing based on the DMA Email tracker in advance of speaking at the Email Innovations Summit at Data-driven business later in the month.
Since the focus is data or insights-driven business, I was interested to see how evaluation of email marketing has moved on (or not).
I like the DMA email tracker report since it asks respondents to a survey to give an estimate of the average ROI of email marketing.
This always shows the power of email marketing as a relatively low-cost responsive medium which drives results in many industry sectors...
In 2018, the ROI of email marketing is £32.28 for every £1 spent, up from £30.03 last year.
Metrics and KPIs used to evaluate email marketing
Digging into the details of how email marketing is evaluated,…
Chart of the Day: Brand loyalty is alive, but customers have expectations
Everyone wants to create brand loyalty with their customers. It means that you’ve become a go-to brand for their needs and that customers will choose your products over competitive offers and sometimes technically-superior models from other brands.
Nintendo is one of the biggest companies that rely on brand loyalty. They’ve rarely had the most powerful games consoles on the market (Sony and Microsoft constantly duelling for that honour), but Nintendo fans know that Mario and Zelda titles are only available on Nintendo consoles, so they remain loyal. I will personally ride for Nintendo to the end of my days thanks to their great games I have enjoyed throughout my life (even if they also made the Wii U).
While brand loyalty is a goal for many retailers, it can be tough to know just how many purchases it takes from a…
Chart of the Day: What are the success factors for improving sales and marketing alignment
This research from the Content Marketing Institute and LinkedIn shows how the continuing popularity of content marketing in business-to-business (B2B) marketing has highlighted common flaws in the way organisations are structured to manage their content marketing.
The report starts by showing how changing buyer behaviour has demanded an increased focus on content marketing since, of prospective buyers:
92% start with an information search
53% find that going online and researching is superior to interacting with a salesperson
75% depend on social networks to learn about different vendors
90% won’t take a cold calling
The report goes on to compare the performance of highly aligned sales and marketing teams with less well aligned teams. Across the board, the highly aligned content marketing and sales teams collaborate far more frequently than the low aligned.
This chart reviews these success factors for alignment…
Chart of the Day: Public are largely unfamiliar with purchasing through chatbots
Chatbots are a viable option for companies who want to be ever-accessible to their customers. Able to help with common problems such as late deliveries or changing profile information, chatbots can always elevate more complex tasks to a human representative if need be. One task that customers aren’t ready to trust chatbots with is making a purchase.
Research by SUMO Heavy has found that just 11% of people have tried making a purchase through a chatbot, with just 5% saying they would do so again. A quarter of people said they were not open to trying it and 43% said they were unfamiliar with the concept altogether.
When reading this data, it's important to distinguish the different platforms that chatbots can be provided through. Chat services available directly on a…
Chart of the Day: Strategies and practical factors that support growth of a business - new research
The Ansoff matrix growth drivers
The Ansoff matrix model is a classic marketing model featured in our free top marketing models guide.
Although developed in the 1960s, Ansoff is still useful for considering, at a top level, the strategic initiatives that a business is taking to increase its competitiveness in a sector through identifying new revenue opportunities.
This new research based on the views of Chief Marketing Officers (CMOs) in large US organizations is interesting since it translates the theory of Ansoff into practice, showing how businesses are investing in the four quadrants of Ansoff.
You can see that a market penetration strategy of selling existing products or services into existing markets has the largest investment. This is building on existing strengths and is fine, with the…
Chart of the Day: Innovation and market expansion take backseats to refining existing products and services
Research from The CMO Survey shows that American CMOs are heavily focussed on their own markets, rather than broadening into new ones.
Asking over 300 marketers about their spending strategies over the last 12 months, companies from all sectors put the majority of their spending on existing products/services in existing markets. Only roughly one-quarter of these marketers’ budgets were put towards new products, with even less going towards their efforts in new markets.
This near-tunnel vision is explained when looking at what the CMOs believe their customers see as top priorities for the coming year. ‘Superior product quality’ (33%) and ‘excellent service’ (23%) topped these replies, both seeing increases from 2017, with ‘superior innovation’ coming in at 15% (no increase from 2017).
The percentage spend of marketing budgets on…
Chart of the Day: Just 30% of marketers have completed a full audit of their data-collecting methods
Data protection is hardly brand new, but new EU law and news of data breaches from the social media giants Facebook meant that everyone and their grandmother (who you have to generously keep showing how to check her emails) know about GDPR.
How companies gather, store, and handle their customer’s data has never been under more scrutiny. Naturally, marketers across the globe have followed suit and completed full audits of the technology and communication channels they use to collect their customers’ data. Right?
Well, research from CMO Council tells us that 30% of them have. Big gold star to them because it’s extremely likely that a review of your current methods will yield possible improvements for how your company handles data.
You won’t necessarily find…
Compilation of abandonment rates and follow-up email conversion rates in retail, fashion, travel, finance and not-for profit
We recommend retargeting as an essential activity in our RACE framework customer lifecycle activities. That's because it can help boost both conversion to lead and conversion to sale conversion rates. This pair of charts focusing on email retargeting show it's worthwhile putting a range of retargeting tactics in place, regardless of the type of business.
Cart abandonment rates
This data is based on abandonment rates from Salecycle customers. It shows that the average cart abandonment rate is 75.4% with rates in some sectors such as travel and finance being even higher.
Following up on this interest with a reminder email (if you have collected it, which you should) is one way of increasing conversion, using a simple reminder or a more persuasive discount. It's worth testing which discounts…
