Listrak, the leading digital marketing cloud technology provider for retailers, today announced Project Launchpad. The revenue-growth initiative analyzes 2020 e-commerce results in online retail, distills key learnings and provides brands with a roadmap of digital marketing tools, strategies and recommendations to deliver even greater success in the upcoming year. Project Launchpad is a series of workshops, online events and resources to help online retailers meet and exceed revenue goals in 2021.
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Online spending as a part of total retail sales has steadily been on the rise—with e-commerce penetration, hitting21 percent in 2020. Covid-19-related boosts resulted in an additional $174.87 billion in e-commerce revenue, accelerating the industry’s growth by a decade. Additionally, customer behaviors and expectations have evolved, requiring brands to rethink their e-commerce and digital marketing strategies to increase their chances of a stronger 2021.
“Despite an unprecedented year for e-commerce, retailers need to quickly start planning and implementing fresh strategies to build on last year,” said Karen DiClemente, Senior Strategy Director at Listrak. “Based on findings across Listrak’s 1,000+ retailers, marketers are not taking full advantage of a whole host of digital tools and strategies. Our vision with Project Launchpad is to provide retailers with the necessary insights, technology and advice to thrive in 2021.”
Project Launchpad kicked off in January with the webinar, How Will You Comp 2020?. Additional resources will be rolling out throughout the year. As a part of Project Launchpad, brands have access to unique insights to help them drive increased revenue across the following five areas:
1. Identification and acquisition: 97 percent of site visits are anonymous, brands need to do more to identify contacts, send more triggered campaigns and increase conversion rate optimization on their sites.
2. Broadcast campaigns: The majority of retailers deploy broadcast campaigns, however many still underutilize this tool. To stand out in 2021, brands should embrace send time optimization, advanced retail segmentation and customer data to deliver dynamic content tied to customer behavior and preferences.
3. Behavioral Triggers: Despite being among the most powerful email campaigns for conversions, a significant number of brands underperform due to sub-optimization. In 2021, marketers need to track customer behavior on their website more thoroughly as well as send behavioral triggers more often to get the most accurate pulse on customers’ habits.
4. Active Personalization: To ensure strong engagement in 2021, retail marketers must double down on AI-driven technology that allows them to account for individual customer behavior and personalize every element of email campaigns. Brands that use product recommendations, dynamic offers and predictive content will win.
5. Integrated Cross-Channel: In order to deliver a one-to-one experience to customers, brands need to invest in a single fully-integrated platform. Unified platforms give marketers the ability to coordinate email and SMS communications with the right message to the right person at the right time and optimize engagement across devices and channels, ultimately leading to increased revenue.
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