What Listrak Can Do for Your Business, According to Forrester – Part II
In their recent Total Economic Impact (TEI) report, Forrester outlined the proven benefits of Listrak’s single, integrated customer data platform. Their study, which closely examined the experiences of real Listrak clients, found an array of exciting potential benefits over a three-year partnership with Listrak.
In Part I of this blog series, we examined the first potential benefit Forrester uncovered: revenue growth. Now, we’ll turn our attention to the savings clients can expect from their partnership with Listrak. Forrester found that a company like those interviewed would likely see a 35% savings on marketing tool spend and a 20% savings on campaign team time – in other words, a reduction in total cost of ownership (TCO) for your email and SMS technology and relief for your busy marketing team.
We’ll also look at the “unquantified benefits” of Listrak as mentioned by the interviewees: perks that were important to their positive experience with Listrak but didn’t translate into specific numbers.
How Listrak Decreases Marketing Tool Spend
Benefit #1: Competitive pricing. Client interviewees reported that Listrak’s overall pricing is favorable compared to other email and SMS marketing platforms. This is especially noteworthy given that Listrak takes more of a hands-on approach to service compared to many industry competitors.
Benefit #2: Consolidation. One representative from an apparel brand explained to Forrester, “Listrak allowed us to consolidate and not have multiple platforms.” This consolidation is possible because Listrak’s unified platform brings together email, SMS, and Identity Resolution Marketing through GXP under one roof. Not only does this allow for better cross-channel orchestration, it often means a reduction in TCO compared to using multiple vendors for the same services.
How Listrak Decreases Campaign Team Time
Benefit #1: Simplified marketing processes. Listrak enables marketing teams to automate many aspects of their email and SMS programs. This frees up valuable time for marketers to focus on other tasks while they continue to generate revenue from their automated email and SMS campaigns, including sophisticated flows for all aspects of the customer journey: Browse Abandonment, Welcome Series, Back-in-Stock notifications, and much more.
Benefit #2: Integrated reporting and analysis. The interviewee from the apparel brand noted that switching to Listrak reduced the time spent on campaign creation, allowing their marketing team to examine campaign results in more detail. “Before, they were spending 80% of their time generating their campaign [and] a small amount of time looking at the results,” said the representative.
Not only does Listrak free up more time by simplifying campaign creation, the reporting itself is easier to explore and understand with Listrak’s array of analysis tools. Also, having the data from all channels in one place eliminates the time and effort required to collate data from disparate sources. With Listrak, you get a full picture of your marketing performance across email and SMS and can harness those results to make data-driven decisions for future campaigns.
Benefit #3: Platform capabilities. The VP of Direct-to-Consumer at a footwear brand mentioned to Forrester that “[w]e see time savings from being able to A/B test in the platform. We could not do that in our prior solution.” This is just one example of how the advanced technology behind Listrak’s platform empowers retailers and brands to do more with their marketing – and Listrak experts are there to help every step of the way.
Unquantified Benefits of Listrak
Benefit #1: Premium service. “[Prior to using Listrak,] we just didn’t have the support that we needed,” said the footwear client’s VP of Direct-to-Consumer. “[…]they’re always available to help, which I think is a huge benefit to us on an ongoing basis. That’s just part and parcel of the service that they offer.”
Other interviewees echoed this sentiment, crediting Listrak’s expertise and availability of support as playing a significant role in their success. This human element sets Listrak apart from the competition and helps us build a trusted, reciprocal relationship with our clients.
Benefit #2: Continued refinement. Interviewees emphasized that Listrak never rests on its laurels, instead constantly working to improve the platform – often based on feedback from clients. Then, when these enhancements are made, Listrak sets clients up for success by educating them on what the new features can do for their marketing. Listrak’s data analysis capabilities are also continually honed as new customer insights are gathered.
Benefit #3: Improved customer experience. Marketers know that personalization is key to customer experience: right message, right time, and right channel. Listrak helps retailers and brands deliver relevant, tailored content to consumers that improves CX and drives increases in related measurements like NPS and CSTA.
Benefit #4: Spend and ROI visibility. The Director of E-Commerce Growth at a beauty products client explained that with Listrak’s pricing transparency, her organization immediately saved about 50% due to a clearer understanding of exactly what they were paying for. “So, that [led to] major savings from moving over. And then, because [Listrak is more] transparent in pricing [than other solutions], we were actually able to forecast our sends more appropriately, which allowed us to actually reach the daily sends that still fit within our budget.”
Today, marketers are expected to do more with less. Listrak makes transparency a priority from day one so clients can be confident their marketing dollars are providing them with the greatest possible benefit.
Forrester’s Reporting Method
By using data from the interviewed clients to create a composite organization, Forrester was able to project expected savings in marketing tool spend and campaign team time over three years with Listrak. These savings – 35% on marketing tool spend and 20% on campaign team time – combine with a 45% increase in email revenue and a 40% increase in SMS revenue to create a full picture of the benefits Listrak can provide.
Download the full Total Economic Impact of Listrak report here to dive deeper into Forrester’s findings and to hear more glowing testimonials from real Listrak clients. If you’re ready to learn more about what Listrak can do for your business, we’re excited to help you grow – get started today!