A recent report published by Bluecore found that those customers who spend more tend to be those the most highly engaged with email marketing campaigns, based on data examined from April 2018 to March 2019. This correlation doesn’t exactly shock the experts here at Site Impact, but it’s worth unpacking some of the revelations in the report, and looking at what this means for strategy on both sides of the correlation.
Bluecore’s study looked at data from more than 3.26 billion emails sent by brands for a year--from April 2018 to March 2019. The study found some pretty important trends overall: personalized emails had a 139% increase in click rates compared to static, one-time sends, for example. Price decrease triggered emails had a click rate of 8.8%, compared to the average for all email types, about 2.5%. But the real gem is the finding we highlighted right up front: those shoppers that spent the most money with brands were also those most engaged with email campaigns. Of course, this can indicate two different things: that those who spend more tend to be more interested in emails, or that those who are more interested in email campaigns tend to spend more. Ultimately, we believe both cases are true--and that strategies around email should take this into account.
People who spend more with your brand tend to be people who are more interested in your message. They’re on the lookout for new opportunities to spend with you, and they’re more likely to be interested in learning more about products and services, since they’ve had such a good experience in their previous interactions. These people are the folks you want to really target with your messaging: they’re a good investment, because they are already the most interested and most engaged. Set them apart, and appeal to them with bonus value-adds and quality content.
On the flip side, it’s clear from other studies on the subject that higher engagement actually leads to higher spend--and that increasing engagement increases spend. People who are more highly engaged with your brand tend to be more likely to convert, and they are also more likely to become repeat customers. Strategically, this means that apart from people who are already spending big with your brand, you need to be encouraging engagement from the people who aren’t already, without getting straight into the hard sell. Higher engagement on its own will make them more likely to buy from you (or buy again, or buy more).
The Bluecore study has a great deal of material that is well worth looking at, but the finding that high engagement correlates to high spend is something that email marketing professionals need to keep in mind on all ends of their strategy and tactics planning. Appealing to the high spenders with special messages and recognition, and encouraging greater engagement from those who aren’t spending as much, are easy ways to get more out of your email campaigns. Contact Site Impact to hear how we can help you tackle this data in all aspects of your email initiatives.