Listrak, the leading digital marketing cloud technology provider for retailers, announced their first Revenue Gap Index. The index highlights the company’s methodology and approach to assess the effectiveness of email campaigns as well as a snapshot of how retailers’ digital marketing programs perform today. The Revenue Gap Index uncovers specific areas where retailers can drive incremental revenue opportunities and boost overall email campaign results to deepen engagement and loyalty with customers.
On average, retailers fail to capture between 30-70 percent of the total revenue potential of their email and cross-channel programs. Listrak observed that smart retailers continue to see mediocre results because marketers are prone to repeat common mistakes and do not use all of the marketing tools at their disposal.
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“The pandemic has challenged retailers around the country and our goal is to help them succeed in these unprecedented times and beyond,” said Ross Kramer, co-founder, and CEO of Listrak. “The Revenue Gap Index is the first industry-wide tool of its kind to help marketers better understand where their cross-channel programs are underperforming and how they can improve.”
The Revenue Gap Index is constructed using 78 discrete measurement points, across five core areas that are an essential foundation to any email and cross-marketing channel engagement program. Specifically, the index assesses retailers based on Identification and Acquisition, Broadcast Campaigns, Behavioral Triggers, Active Personalization, and Integrated Cross-Channel.
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Based on analysis of a cross-section of representative retailers, Listrak found that:
- Behavioral triggers, while being the most powerful type of email campaign available to a retailer, are consistently sub-optimized and therefore underperform.
- Marketers are still behind when it comes to personalization in their email programs. The majority of retailers have a wealth of data, however, they fail to leverage it effectively to personalize across all campaigns.
- Retailers still struggle with executing cross-channel from a single integrated platform. Many retailers do not leverage channels like SMS effectively, and when they do, they make the mistake of adding it via a disconnected point solution provider.
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