By James Glover
Customers are a business’ most valuable asset, which is why they spend a lot of money to acquire new ones and work hard to retain the ones they have. This is especially true in the saturated retail industry where there is lots of competition to capture consumer’s attention. Here is where email marketing comes into play. This marketing tactic has an ROI of 3800 percent, making it a top method for retailers to improve customer conversion.
Retailers work relentlessly for that initial purchase, with carefully timed emails, curated content and maintaining the right frequency of communication, but what happens after the retailer succeeds and that customer makes that long-awaited first purchase? How are retailers working to retain customers and maintain a loyal customer base?
With these questions in mind, we decided to find out how top retailers are performing when it comes to email, and start mapping out industry best practices.
Our new “2018 Email Marketing Study: How 100 of the Top Retailers Engage Shoppers in the First 45 Days and Beyond” study evaluated 100 retailers from the Internet Retailer Top 500 list and acquired every email each of these retailers sent to email subscribers who have never purchased a product from July to December 2017. For this study, purchases were made from every retailer and every email sent was collected, as first-time buyers, for the first 45 days after a purchase was made, from November to December 2017. The resulting report analyzes communication tactics between a “purchaser” and a “non-purchaser” email received during this time to determine how retailers interacted with the two audiences. The report also looked at how retailers were performing in other key areas such as Email Frequency, Content and Catalog Exposure.
Below are a few key insights from our report:
62 percent of the time, retailers sent the exact same email on the same day to the purchaser and non-purchaser, and only 26 percent of all emails were unique to the purchaser, despite having clickstream and purchase data to leverage.
Wayfair scored highest among all retailers because they personalized a majority of their email, with 71 percent of the emails sent to the purchaser being unique to them.
When it comes to the Purchaser Experience, Levi’s was the exception, with more than 75 percent of the emails sent to the purchaser being unique. Only 8 percent of the emails matched a non-purchaser email sent on the same day.
Of the 100 retailers evaluated, Williams-Sonoma had the highest average email sends per day at 3.14. Pottery Barn, The Shopping Channel and Victoria’s Secret sent two emails a day more than 90 percent of the time.
With more than 60 percent of respondents sending the same exact email to a purchaser and non-purchaser, it’s clear that retailers are not engaging customers through throughout their journey, but instead, providing a generic, one-size-fits-all experience. In order to not only acquire, but retain a loyalty customer base, brands need to offer personalized content in their emails, whether it’s the first time or the tenth time they’ve engaged with your brand.
To learn more about personalization trends in the retail industry, check out Get Personal and Keep Them Coming Back guide to find out why 68 percent of retailers agree that investment in driving personalized experiences is a priority.