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Retail email marketing strategies increase revenue shop.org 2013 silverpop

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For today's retailers, the key to digital marketing success lies in converting more potential buyers earlier in the relationship and then leveraging behavioral data and automation to drive increased …

For today's retailers, the key to digital marketing success lies in converting more potential buyers earlier in the relationship and then leveraging behavioral data and automation to drive increased loyalty and repeat purchases. Sound like too much to fit into one shopping bag? In this session, Loren McDonald, Vice President of Industry Relations with Silverpop, will help you sort it all out, offering tips and techniques designed to convert more browsers into buyers and keep them coming back for more.

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  • By increasing our automated volume as we increase “broadcast” volume and optimizing for more transactions, SmartPak has had a small lift in the percent of volume we send, but a tremendous lift in revenue attributed to automated emails.
  • Over 3,000 shopping cart abandoned emails sent, per monthSegment versions between supplies versus SmartPaks cart abandonmentSent in AM to customers who abandon cart day prior
  • Important Dates process created for MudPie by agency Whereoware.
  • Leveraging multiple vendors, data, magic of api…
  • Also available at silverpop.com/marketing-resources is more information about future webinars, recordings from previous webinars, You can also access slides from Silverpop presentations on social media and countless other topics at slideshare.net/silverpop. You can also find us on Twitter and Facebook.
  • Transcript

    • 1. Retail Email Marketing Strategies that Drive Repeat Purchases & Increase Revenue @Silverpop Big Idea Session Shop.org – Oct 2, 2013 1
    • 2. Today’sAgenda 2 Loren McDonald VP, Industry Relations Silverpop lmcdonald@silverpop.com @LorenMcDonald Set Up 6 IdeasQ & A
    • 3. 3 My Guarantee: At least 1 idea you can take back to the office and turn it into increased revenue.
    • 4. Repeat/loyal customers begin with the first purchase… First Purchase Repeat Loyalty /High LCV 4
    • 5. …This works, but is not the answer …
    • 6. SmartPak: Broadcast vs. Automated Emails 65% 35% Revenue 84% 16% Volume Promotional Automated 70 unique transactional and lifecycle emails/day, 10+ promotional emails per month 28 automated programs in place
    • 7. Today’s Keys Behavior Automation Real-Time Data/Content Integrations Delight/Add Value
    • 8. Idea #1: Evolve “Welcome” to “Onboarding” Program @LorenMcDonald @Silverpop
    • 9. Welcome Progression – But still generic … Immediate 3-7 days 7-14 days Immediate Stand alone Email # 1 Email # 2 Email # 3 3-part series
    • 10. Retailer Women Men Home Email Sign- Up Welcome Email 1 Shoe Offer Beauty Browse Generic Content Ooops
    • 11. Email Sign- Up Onboarding Email 1 Onboarding Email 2 Onboarding Email 3 Onboarding Email 4 Or you try to convert them on “Home” items Follow on social Includes current Home products offer w/ recommendation Includes gender based offers Includes current location-based content Using Web Tracking – marry browse behavior to email address
    • 12. Idea #2: Move BeyondCart Abandonment to Browse Remarketing @LorenMcDonald @Silverpop
    • 13. Browse – Sniffing Around
    • 14. Browse / Process Abandonment: Showing Interest Sent Delivered Opened Clicked Product Views Cart Additions Checkouts Orders Revenue Units
    • 15. UncommonGoods - Browse Retargeting Program A customer views one of him” category … Their page view gets logged in Silverpop’s Web Tracking table …
    • 16. Browse Retargeting Program An automated program is keyed off of the Web Tracking table …
    • 17. Browse Retargeting Email 2.2% Conversion rate
    • 18. SmartPak Browse Program • 37.6% Open Rate • 7.35%CTR • $0.44 Rev/Email – 4X broadcast
    • 19. Idea #3. Take your cart abandonment program up a notch @LorenMcDonald @Silverpop
    • 20. 21 Cart: 2.0 Real-time Recommendations / Reviews Series Content/ “Human”
    • 21. 22 Real-time remarketing campaigns, where the email was sent immediately following the abandon, generated 105% more revenue than the same email sent only 24 hours later. Source: SeeWhy
    • 22. SmartPak: Abandon Cart w/ Recommendations • 38.5% open rate • 10.15% CTR • 50% conversion rate • $4.80 revenue/email Dynamic product recommendations
    • 23. Cart Email A Day 1 Cart Email B Day 3 Cart Email C Day 5 AVERAGE Open Rate 40% 39% 32% 37% Click-to-Open 44% 47% 28% 41% Click-thru-Rate 18% 18% 9% 15% Conversion Rate 22% 15% 24% 20% Sales/email $8.60 $8.40 $5.04 $7.46 DEMCO – Impact of Using a Series of Emails
    • 24. • Aaron - Real person • Service tone • 50% conversion rate “Human”Cart abandonment
    • 25. Idea #4. Reminders and Replenishment Programs @LorenMcDonald @SIlverpop
    • 26. “Important Dates” Reminder Email 27
    • 27. Your dates trigger an email… 28 21 days before occasion Personalized with name Occasion w/ date Coupon code 10% Off 31% CTR Highest revenue generating email
    • 28. Out of Stock = Sku Notify Emails …
    • 29. Sku Notify Emails 23.9% Conversion Rate
    • 30. Replenishment Goal: Increase sales of repeat purchases Timing: Based on a calculation of when product will run out Results: - 29.4% Open Rate - 3.76% CTR - $0.42 Rev/Email - 9.36% Conversion Rate
    • 31. Idea #5. Post-PurchaseTouches @LorenMcDonald @Silverpop
    • 32. Order Confirmation, Shipped 2.4% conversion rate
    • 33. Purchase Cross-Sell Goal: Increase sales by marketing a relevant product to customers - Targeted customers based on previous purchases Results: - 19.41% Open Rate - 4.31% CTR - $0.58 Rev/Email - 12.5% Conversion Rate Subject Line: “Stop Sore Feet in their Tracks”
    • 34. How-to video
    • 35. Idea #6. RewardYour Best Customers @LorenMcDonald @Silverpop
    • 36. evo - Best Customers: R1F1M1 37 Recency (Top Quartile) Monetary Value (Top Quartile) Frequency (Top Quartile) Surprise and Delight
    • 37. Triggered 7 days after a frequent customer has spent a grand total of $650 in their lifetime. Best Customers: R1F1M1
    • 38. Woohoo! Because we’re so thankful you chose to shop with us we’d like to offer you this code good for $50 off your next purchase. It’s as good as it sounds – 50 free dollars good toward ANY order over $50 on evo.com. How it works: Enter your code in the “Enter Coupon Code” spot in the cart before checkout and we’ll automatically deduct $50 from your order. Here is your code: %%50 Dollar Code%% We appreciate you shopping with us and hope to see you again soon! With love, evo
    • 39. Thanks! What idea are you taking back to the office?
    • 40. A unified, behavioral-driven platform that lets marketers incorporate every imaginable customer touch point, regardless of system or vendor, into a single view that drives individualized, real-time content through the most appropriate channel.
    • 41. Selected Silverpop Retail/EcommerceClients
    • 42. Silverpop Retail Partner Ecosystem
    • 43. Download the “Print MoneyToday”Whitepaper http://www.silverpop.com/marketing-resources/white-papers/all/2013/emails- marketers-should-automate/
    • 44. Interested In Learning More? silverpop.com silverpop.com/marketing-resources www.slideshare.net/silverpop Twitter.com/silverpop Facebook.com/silverpop