Jim Rudall, Head of EMEA, Intuit Mailchimp
With the holiday shopping season over and sales in full swing, retail marketers around the world continue to fight for consumer attention and engagement. In fact, according to research from Intuit Mailchimp, approximately 26 billion emails were sent through the company's platform in November of this year, and between the 23rd and 28th alone, he sent nearly 7 billion emails. Processed.
Additionally, two-thirds of marketers estimate that the holiday period generates 21-40% of their company's annual revenue, and e-commerce platform Shopify showed similar results this year. Around the world, merchants using the company's platform secured sales of $9.3 billion over the Black Friday Cyber Monday weekend, an increase of 24% compared to 2022. So it's clear that there remains a strong consumer desire to engage with companies and make meaningful deals. A year of moments.
But as the competition for consumers' attention continues to intensify, marketers struggle to find different ways to connect with consumers, and sending too many generic emails can be overwhelming. There is a risk that your profits will be lost. In a world dominated by information overload, businesses are reevaluating email targeting for 2024 and considering new approaches to email marketing focused on personalized experiences for consumers. It is important to do so.
Less email doesn't mean less revenue.
This may seem counterintuitive, but there is one strategy that has proven successful. It's all about reducing the number of emails marketers send. Our data shows that marketers will actually be able to reduce the amount of emails they send between November 2022 and 2023, instead of increasing the amount of emails they send. It increased by 1.08% compared to the previous year. While email blasting was a popular marketing tactic in the past, the technology is now enabling companies to develop a more dynamic mix of data-driven and personalized strategies. This not only improves business efficiency and performance, but also increases engagement as marketers can tailor their approach to different customers.
The more customization, the better.
The key to reducing email volume is to truly invest in how you personalize your messages to the people you want to talk to. Insights into your target audience, their interests, and spending motivations are all important and can be a differentiator from your competitors. And research shows that consumers also want to be treated as individuals. Insights from Intuit Mailchimp's 2023 Holiday Report show that 73% of UK and US consumers feel more valued when they receive personalized emails and offers.
Tools like segmentation, automation, and AI can all help deliver more personalized messages, build loyalty, drive conversions, and encourage repeat purchases. For example, according to data from Intuit Mailchimp, campaigns that were segmented between November 1st and November 30th had a 1.65% higher click-through rate than non-segmented campaigns. It just shows how much of a difference it makes. Marketers can build powerful personalization strategies and continue to grow revenue by learning over time which types of offers resonate with different audience segments and generate the most sales. can do.
timing is everything
Traffic can be extremely heavy during key shopping periods like Black Friday, so timing is a key strategy to avoid noise. Our data shows that in the US alone, an average of 1.8 billion emails are sent on Black Friday and an average of 1.3 billion emails are sent on Cyber Monday. However, over the weekend he sent only 744 million emails per day over two days, and customer engagement remained steady throughout his four days.
This is just one example of an opportunity marketers can take advantage of. This allows you to reach consumers during quieter times and increase sales while keeping your business top of mind. When combined with effective personalization, getting the timing right can mean the difference between success and failure for a given campaign. Understanding when consumers are more receptive to marketing is as important as consumer insight, which gives you the opportunity to send smaller but more effective emails.
So is there time to end the blast of the past?
Email is one of the most used forms of communication for marketers, so it should be treated with respect. However, spam and cookie-cutter marketing efforts that don't take consumers into account have given them an unwarranted negative reputation, especially during the holiday season. However, this can be fixed. By doing away with generic email blasts and instead adopting a more personalized approach that combines smart timing and creativity, marketers can increase spending or grow their customers' inboxes. You can increase your ROI without unnecessary burying. By being more thoughtful in their approach to email, marketers can achieve better results during the holiday season and throughout the year, resulting in increased revenue and potentially higher engagement of their customer base over time.
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