See How Personal Product Recommendations Generate 67.4x ROI for IMA

International Military Antiques implemented Listrak’s Personalization Engine in October of 2014. Its onsite recommendations account for 36% of IMA’s ecommerce sales while its email recommendations make up nearly 30% of all email revenue. IMA is seeing a 67.4x ROI from product recommendations alone.

Onsite
Prior to implementing Listrak’s Personalization Engine for onsite product recommendations, IMA was manually selecting four recommendations for each product page on its website. This was very tedious and difficult to merchandise and manage. With Listrak, IMA can now create customized algorithms and use predictive analytics based on 360-degree customer insights to serve up personalized product recommendations relevant to each visitor.

Product Page
IMA started by adding these personal, automated recommendations to its product pages, which is the best place to start if you are new to onsite recommendations. The recommendations are based on the “viewed this, viewed that” algorithm and they have a 38% higher click-through rate than the site’s average.



Checkout Page
Based on this success, IMA added recommendations to the checkout page and the results were even better. The recommendations on this page use the “frequently bought together” algorithm and they have a click-through that is 140% higher than the site’s average. More importantly, with a 21.3% conversion rate, it is evident that customers are using these recommendations to add more merchandise to their transactions.




Together, the onsite recommendations have a 9.9% click-through rate and a 1.8% conversion rate, accounting for 36% of the total ecomm revenue.

Email Recommendations
IMA also added personal product recommendations to some of its email messages as a way to engage shoppers and assist with product discovery. Since Oct. 2014, personal product recommendations in emails have accounted for nearly 30% of the total email revenue.

Triggered Messages
Starting with its triggered messages, IMA added product recommendations to both its shopping cart abandonment messages and its post purchase emails.

Its three-part cart abandonment series averages a 35.2% open rate, a 13.6% click-through rate and a 24.5% conversion rate. This conversion rate increased 15% with the addition of the recommendations, which are based on the algorithm “frequently purchased together”. The recommendations make up 15.8% of the total revenue for the cart abandonment series.

The post purchase message, which use the “purchased this purchased that” algorithm, averages a 52.3% open rate, a 19.7% click-through rate and an 8.7% conversion rate. The recommendations make up 43.3% of the total revenue generated from the post purchase message.




Weekly Messages
IMA also wanted to boost the engagement and relevancy of its weekly email newsletter and found that including personal product recommendations based on inventory considerations really works. These recurring automated messages, which launched April of 2015, have a 7% higher conversion rate than IMA’s manual campaigns that do not include product recommendations. The recommendations generate 84.7% of the total email revenue brought in from these messages.


Personalized product recommendations in email campaigns really work. IMA averages 9.7% click-through rate and 1.3% conversion rate for emails that include the recommendations. These recommendations drive nearly 30% of IMA’s total email revenue.



About IMA
International Military Antiques (IMA) is the world leader of military collectibles and antiques. IMA has supplied the world’s foremost museums such as the National WWII Museum, Natural History Museum of Los Angeles and West Point Museum, film productions such as Saving Private Ryan and Band of Brothers, private collectors and historical reenactors. However, the majority of IMA customers are everyday people that share IMA’s passion for history. Learn more about them at www.ima-usa.com.



Questions about how Listrak’s Personalization Engine can help you achieve these same results? Let us know in the comments section. 

6 Necessary Platforms For eCommerce Success

The post below is being reblogged from our friends and partners at Digital Operative. It was posted by Alexa Englehart on August 25, 2015. Proud to be on the list! 



As the eCommerce industry continues to grow exponentially and digital commerce becomes increasingly complex, marketers are on the lookout for anything that might make their job a little bit easier. Whether it be simplifying the optimization process or more accurately targeting potential customers, there are many platforms available to maximize your ROI. Rather than sorting through all of your options, we’ve done the work for you and created a list of platforms necessary for your eCommerce success!

Image via: marinsoftware.com
Image via: marinsoftware.com

Marin Software

Powering marketing campaigns in more than 160 countries, Marin Software is a cross-channel performance ad platform used to measure, manage, and optimize advertising expenditures across web and mobile devices. With its single dashboard and control panel, users are able to more easily manage search, social, and display campaigns, saving time and ultimately resulting in better decisions. Marin’s sophisticated advertising cloud technology helps its users improve financial performance by targeting profitable audience segments based on consumers’ recent buying signals on search, social, and display.

TL;DR: Why should you use Marin Software?

Marin gives advertisers an aggregate view of ad spend before, during, and after each campaign through making it easier for you to strategically plan your next move and gain valuable insights about your audience.

Image via: https-marketing.adobe_.com
Image via: https-marketing.adobe_.com

Listrak

For retailers looking to expand their email marketing campaigns, Listrak is the platform to turn to. Listrak is the king of all email marketing, it helps your business create email marketing campaigns that will engage customers and drive sales across channels through its single, integrated digital marketing platform. In 2012, the Ispos Interactive Reid Report stated that 91% of consumers use email once a day and 66% have made a purchase based on an email they received, which just highlights the fact that email marketing campaigns are still alive and kicking in the digital marketing realm. Listrak is a great platform to help your business enhance your email marketing opportunities.

TL;DR: Why should you use Listrak?

Listrak helps marketers maximize the ROI of digital marketing campaigns. Its sophisticated platform assists you with capturing, interpreting, and using your customer data to grow your business and really click with your customers.

Image via: jduminy.free.fr
Image via: jduminy.free.fr

Criteo

Criteo is the global leader in performance display with over $430 billion sales transactions and 740 billion ads served in 2014. Criteo works with internet retailers to serve personalized online display ads to consumers that have previously visited the advertiser’s website. Generating millions of high quality leads everyday, Criteo can help your eCommerce business succeed by generated ads that are consistent with the products and services that your customers are searching for, increasing your ROI and helping you understand your audience better.

TL;DR: Why should you use Criteo?

Criteo’s retargeting technique helps advertisers succeed by focusing on high value customers most likely to convert. By measuring the return on post-click sales, Criteo makes ROI transparent and easy to track.

Image via: https-blog.optimizely.com
Image via: https-blog.optimizely.com

Optimizely

With clients such as Disney and Starbucks, Optimizely is certainly making a dent in the website optimization industry. Optimizely is an easy-to-use website optimization platform that provides powerful A/B and multivariate testing. Users are able to test variations of their websites on live traffic and gather immediate, valuable results. Utilizing Optimizely will help you realize the power of data driven decision-making and will further help your company reach their goals.

TL;DR: Why should you use Optimizely?

Optimizely provides marketers with actionable data based on multivariate and A/B testing as well as visitor insights. This makes it easier for marketers to make data-driven decisions to increase engagement, interactions, and conversions.

Image via: reflektion.com
Image via: reflektion.com

Reflektion

Hoping to create a more personalized shopping experience for your online customers? Consider Reflektion – a predictive analytics platform provider that helps retailers improve customer conversion rates. Offering personalized site search and product recommendations, Reflektion recognizes the importance of each individual shopper’s experience. By focusing on each respective customer, Reflektion’s clients have seen a 26% average increase in revenues. Perhaps the best part of Reflektion’s services is that they are able to transform your commerce system without any large-scale changes to your website and will have you up and running in a week!

TL;DR: Why should you use Reflektion?

By presenting your customers with personalized site search, product recommendations, and mobile compatibility, Reflektion increases your ROI while simultaneously improving customer experience.

Image via: techcrunch.com
Image via: techcrunch.com

Monetate

Employed by some of the best known brands in the world such as Godiva and Best Buy, Monetate helps its clients increase sales by delivering personalized customer experiences that drive customer conversion rates. Monetate’s comprehensive product suite allows marketers to identify your most profitable customer segments and deliver personalized shopping experiences for them across all channels. In addition to personalization, Monetate’s optimization and merchandising services make it easy for you to drive online revenue and react to your customers in real time.

TL;DR: Why should you use Monetate?

Monetate allows marketers to create, test, and deploy an unlimited amount of personalized digital experiences with little need for IT resources. Basically, Monetate helps brands grow revenue faster by being faster.
eCommerce is booming and we want you to be prepared! Check out any of these sites to help you achieve eCommerce success and drop us a line if you need help with any of your conversion optimization needs!

Omnichannel check-up: How are the big mall brands faring from a consumer point of view?


by Donna Fulmer, Listrak market research manager

Recently the Marketing Team at Listrak took a road trip to King of Prussia Mall, the nation’s second largest mall, which features a diverse mix of more than 400 stores, including an array of upscale department stores and luxury brands. Our mission was to make observations throughout the mall and to secretly shop eight well-known retailers whose stores we had already shopped online and whose email marketing lists we had already joined to see what type of omnichannel experience they are offering consumers.

Some of the findings were surprising.

Technology and Omnichannel Customer Service

One of the advantages that physical stores have over eCommerce sites is of course face-to-face interaction with sales associates. The stores we shopped ranged from luxury fashion brands to fast fashion brands and high end beauty and skincare products to sporting goods stores, and associates in all stores were friendly and professional. What they weren’t in many cases, however, was helpful or knowledgeable about technology or the omnichannel experience.

But first things first. There frankly was not a lot of technology to be found – at least at the stores we visited. At six of the eight stores, we did not see technology in the hands of associates at all. At two of the retailers, there were kiosks that allowed for the creation of registries or sign up for loyalty programs (also email acquisition tools – see below), and at one of those stores the associates also did a commendable job of acquiring loyalty members at check out.

At two other retailers, both luxury apparel and accessories brands, there were iPads available to associates, but in only a single case did an associate actually use it. In that case, it was to offer a great omnichannel experience, finding a product that the brand offers but did not have in-store and sending an email featuring the product detail page (no other retailers were able to do this for us when requested).

At the other luxury retailer, in fact, our secret shopper who had established a wish list onsite prior to the store visit, asked an associate who had iPad in-hand to call the list up and was instead recommended to access it herself on her phone app. That same associate, when pressed to help with the app, took our secret shopper’s phone with her behind a curtained area in the back of the store, where she also subsequently took the shopper’s credit card when she made her purchase.  All the while, another iPad lay idle in the store as other associates helped customers empty-handed.  

Email Acquisition

Knowing that email is the highest ROI producing digital channel for omnichannel retailers, we were eager to see – outside of the kiosks at two stores that essentially serve as email acquisition tools - how aggressive retailers are in collecting email addresses at point of sale. The fact is, they are not at all.

At first we looked for in-store signage. In the stores we researched, only one store - a fast fashion retailer - had POS signage inviting shoppers to text an email address to receive 20% off, which worked seamlessly. In fact, when one of our secret shoppers attempted to sign up with an address already in the system, she immediately received a return text noting that she is already a subscriber. Upon texting her work email address instead, she was promptly texted the message to present to receive her discount.  

We then noted whether or not associates asked for an email address at check-out. Associates at the registers of six of eight of the stores did not ask for an email address, and in fact, when one of our secret shoppers tried to provide one at a well-known sporting goods store, he was told the retailer was unable to take it.

And finally, e-Receipts provide a great convenience for shoppers and a great email acquisition opportunity for retailers, and we wanted to know how many retailers are actually taking advantage of them. Not one of the eight retailers we studied, however, readily offered one, even if able to provide it, and our requests to be sent e-receipts were met with an interesting array of responses:

  • An associate at a high end beauty/skincare retailer told us he could, but he would just print it out instead
  • An associate at a well-known sporting goods retailer told us the brand could not provide e-receipts
  • An associate at another sports performance equipment brand told us they used to offer e-receipts but no longer do
  • A popular homegoods retailer reported a receipt could not be provided, however, it wasn’t needed anyway if the shopper has an account established (and thus, was not given)

Cross-channel Consistency

Prior to taking our field trip, our secret shoppers had been browsing and shopping the retailers’ sites and studying their emails, and we were interested in seeing how the in-store experience matched the online brand experience. In this area, we were pleased to find, that with very few exceptions, the retailers offered a consistent experience between on-line and physical store and email. That being said, some of the e-receipts we received following our visits were text only, which is a missed opportunity for those retailers to present brand consistent communications that continue the conversation and begin setting the stage for the next purchase.

It’s worth noting that most of these same retailers we visited have beautiful, robust websites, offer helpful apps, are active in social media and make many other omnichannel efforts, which is certainly a great start. Where it seems, however, that they sadly still all fall down a bit is in synchronizing those efforts to provide the consumer with a truly omnichannel experience.

If you’ve had a noteworthy omnichannel experience, please share it!