8 Tips from the Experts for Thriving in Today's Data-Driven Marketing Landscape
Silverpop reached out to eight of its top partners and invited them to share one of their favorite marketing tips for thriving in today’s fast-moving, multichannel environment. Some good reminders came out of insights:
• Place your email sign-up form on your website in an easy-to-find place (above the fold). Companies have seen a 516 percent lift by making their email sign-up more prominent.
• Paper Style, a Silverpop client, has seen a 330 percent increase in revenue per mailing and a 244 percent higher open rate than its average email send for an automated campaign delivering targeted emails based on key customer segments.
• For both printable and ecommerce coupons, values of at least $1 off or 20 percent off for higher-priced products tend to produce optimal data capture and conversion rates.
• The value required for optimal conversion rates goes up for coupons that require sharing to obtain, but when used correctly this tactic can considerably reduce the marketing spend needed to run successful campaigns.
• Gartner reports that 80 percent of your company’s future revenue will come from just 20 percent of your existing customer base. They’re hyper-engaged and highly influential, and they’re your very best customers.
• Acquiring a new customer can cost retailers 4.8 times more than keeping an old customer. If you know the average latency (time between purchases) of your customers, then you’re on the right track.
• The average retailer experiences 60 percent to 70 percent shopping cart abandonment…Windsor Circle clients who send abandonment emails have experienced recovery rates of more than 10 percent.
Download the full article to read through the 8 tips from industry experts.