A proven approach to identifying missed opportunities to drive revenue, engagement and loyalty with customers.
Our inaugural Revenue Gap IndexSM score: 43.8 out of 100. This is squarely in the range that we commonly see when talking with prospective clients. The high score across the sample group was a 72 with a low of 30. Only ﬁve retailers scored 50 or higher – leaving 80% of subjects in the 30-49 range. This clearly highlights signiﬁcant latent revenue opportunity for most retailer programs.
Identiﬁcation and Acquisition continues to be a major gap. This sample group averaged an 8.2 out of 20 score in this core area (slightly higher than we see on average). Every retailer should double down in this core area – it fuels every other part of your program.
Most are doing “ﬁne” with their Broadcast Campaigns. A composite 14.7 out of 20 score across the group tells the story. For most retailers the recommendation is to strategically increase cadence and move onto other lower scoring areas. No, you’re not sending too often – our 1000+retailers continue to send at Black Friday volumes and aren’t registering any detrimental impacts.
Behavioral Triggers still need work. A 10.8 out of 20 average across the group shows that most retailers aren’t as far along as they should be or think they are. This core area is a goldmine. Put extra focus on it.
Active Personalization is a common gap. A paltry 6.6 out of 20 composite score says it all – this might as well be 2002. Most retailers are swimming in customer data and yet no further ahead almost 20 years later. We’ve had clients who have literally doubled their program revenue– doubled – from improvements in this core area alone. Focus here.
Retailers are still behind in Integration and Cross-Channel. Not to be outdone by Personalization, this area posted our lowest core area average score of 3.4 out of 20. Two action items: 1) start your SMS program immediately (I know your boss doesn’t think it’s right for your customer – but she will love the incremental revenue); 2) start strategizing on how to orchestrate everything from a single marketing platform (to be clear: we’re recommending cross-channel marketing orchestration – not the“integrated tech stack” your IT guys are touting…)