Optimization Leads to Year-Over-Year Growth Every Month
Client success is our number one goal at Listrak. Here we share how a catalog-based retailer partnered with us in late March 2015 and we were able to launch their entire digital marketing suite by June 2015 in time for their peak selling season. The results were even greater than they expected.
With the help of a detailed onboarding plan, and browse and purchase data being tracked and actionable through Listrak’s Demandware Cartridge, the client was poised to perform that season and has seen year-over-year growth every month since. Here is how the retailer worked with and continues to work with Listrak to cultivate an optimized program.
Acquisition and Retargeting
The retailer’s business is cyclical, as it drops an average of 15 catalogs per year, each driving a two- to four-week demand curve. Although the catalogs prompt interest, most customers respond online and via email, making acquisition particularly important to the business.
The retailer acquires new subscribers from multiple subscription points and immediately engages them with a strategic, three-email Welcome Series.
The Welcome Series accounts for 36.1% of total revenue from triggered campaigns. Since joining Listrak, the retailer’s popup modal has been its single most effective acquisition point next to checkout, accounting for more than 30.3% of new subscribers.
The addresses acquired at these multiple touchpoints greatly increase the reachable rate of the retailer’s Shopping Cart Abandonment and Browse Abandonment campaigns. According to its director of online customer marketing the campaigns have been transformative for the business, each earning nearly three times the revenue of similar solutions with a previous provider. With Listrak, the company is able to retarget more than six out of every ten cart abandoners.
Every campaign the retailer sends features personalized product recommendations based on individual subscribers’ clickstream and purchase behavior. No matter what type of email the subscriber is receiving and at what point in the customer journey—from Welcome Series and marketing messages to retargeting, transactional and post purchase emails—the company knows that personalizing the communication enhances the experience and generates revenue.
Personalized product recommendations account for 9.8% of the retailer’s total email revenue.
Based on knowledge of its unique customer lifecycle, the company brought to Listrak three years of subscriber data to be leveraged by Listrak’s Advanced Retail Segmentation to make campaigns highly personalized.
The retailer is currently using segmentation on every send and continually tweaking segments to reach subscribers in the most timely and relevant ways possible.
With current segmentation strategies, the retailer’s marketing emails have a 26.9% higher open rate and 14.7% higher revenue per email sent than the average marketing email, based on Listrak’s benchmark report.
A/B Split Testing
In addition, the retailer optimizes its already successful campaigns through comprehensive and frequent A/B split testing. The findings help the client to continuously monitor the performance of every detail of campaigns, such as send times, creative, copy, personalization algorithms and more.
According to the client, the ease of split testing in Listrak has helped the retailer to test a lot more things a lot more quickly, and even when results don’t dictate that changes should be made, there is value in validating that current strategies are working.