Welcome back to part two of our Retail Global recap! If you missed part one and my summary of Alita’s, The Science of Innovation presentation then you can check it out here. Today we will learn a great deal about the often-forgotten mobile inbox and how to reclaim the revenue by identifying missed opportunities for mobile optimisation.
Keep reading to learn what sessions Alita will be doing at Retail Global this year and get your exclusive code for $100 off the price of your conference ticket!
- Where the retail industry is missing quick-win opportunities by not using email automation strategies
- The importance of mobile optimisation
- 9 quick email marketing facts and how to apply to your business
View the presentation, Reclaiming Revenue: The Mobile Inbox and then read on to see what the 9 quick facts mean for your business.
What Our 9 Quick Facts Mean for Your Business
Fact #1: At 73% ROI, email marketing outperforms SEO, PPC and content marketing but receives the smallest portion of the budget
What percentage of funding is designated to your businesses email marketing? If you aren’t assigning portions of the budget based on proven ROI then you are missing opportunities to generate growth in your most profitable areas.
Fact #2: 25.6% is the average open rate for a retail business
It’s easy to be disheartened by your email marketing analytics is you’re not aware of the industry benchmarks. Yes, maybe three quarters of recipients may never your email but the 25% that do can still drive a great deal of profit.
Fact #3: 15% is the average click-through rate for retail
As a stand-alone metric CTR is pretty arbitrary. A click doesn’t always mean a conversion. A more important metric to analyse would be cost per click (CPC).
Fact #4: $11 is the average cost per email in retail
Calculating your cost per email is an important factor in planning and executing an email campaign. Remember this is your cost per email, your cost per conversion will be significantly higher.
Fact #5: 63% of companies use email marketing automation
If you’re in the 37% of businesses not using email automation I’m surprised you’re even reading this blog given all the unnecessary extra time you must be committing to your email marketing. There’s a reason email automation is so popular and if you haven’t already caught up of the latest strategies I’d recommend reading our blog 7 Retail Email Marketing Automation Strategies.
Fact #6: 45% of marketers say lack of an effective strategy stops them from using email marketing automation
Without a strategy, you are destined to trip up at some point. What’s that quote? Those who fail to plan, plan to fail! Don’t let your lack of preparation or understanding of the technology stop you from successfully executing a profitable email marketing strategy.
Fact #7: 32% of CMO’s state lack of skills is a significant barrier to implementation of email marketing automation strategies
At least one person on your marketing team, if not all your team, should have a thorough understanding of email automation strategies and techniques. If you’re still doing email the old school way you are wasting time, resources and missing great opportunities. It’s not hard to get your team trained, maybe it’s time to consider Milk It Academy’s Digital Sophmore Program that covers the 7 key competencies every digital marketing team needs? Check out our Digital Sophmore Program to upskill your team!
Fact #8: 63% of companies outsource all or part of their marketing automation and strategy planning
If email marketing is constantly holding up other business commitments for you then maybe it’s time to outsource it. There’s nothing wrong with outsourcing your email duties, but staying on top of and in control of your strategy is a must do! Plus, if your agency are not constantly communicating with you are providing real results it’s time to look elsewhere.
Fact #9: 27% of those new to automation technology report more relevant messages as a result
By automating list segmentation, you can avoid sending your email subscribers content that is not relevant to them. Irrelevancy is named as the main reason for recipients hitting the unsubscribe button so ensuring your list segmentation, for including and excluding different groups in email campaigns, is set-up right and working is VERY important.
We will be back at Retail Global again this year! Alita will be doing three sessions;
Innovation Keynote: Retail Has an Innovation Problem – How To Create a Growth Focused Innovation Culture
Stream Session: Email Marketing Tools to Hack Growth – The Tools Businesses from Start-up to Enterprise are using to Hack Growth in 2018