While there are many advertising avenues that online retailers can leverage to reach out to their customers, few can garner a better return on investment (ROI) than email.
In fact, a recent study commissioned by Listrak and conducted by Harris Interactive reveals that 97 percent of Americans receive emails from retailers and more than two in five (41%) have made a purchase in the past six months as a result of receiving an email from a retailer.
And although email has the potential to provide merchants with a high ROI, the biggest challenge for marketers is creating subject lines that capture their consumers' attention. However, according to the study, targeted subject lines are the key factor in driving open rates. For example, 53 percent of the survey respondents claim that they open emails with subject lines that showcase a special offer, while 47 percent say that they open emails that contain an order confirmation.
"With the holiday season just around the corner, it is important for retailers to understand their customers and how best to communicate and interact with them," said Ross Kramer, CEO of Listrak. "In a previous study that we conducted at Listrak, we found that on average 80 percent of consumers buying from our ecommerce clients only made a purchase once. That is a huge missed opportunity for online retailers. Sending targeted emails to consumers is essential if retailers want to turn one-time purchasers into loyal customers."
Other noteworthy statistics from the study found that men who are 55 years old or older are actually more likely than their younger counterparts to make a purchase in reaction to an email. Women, however, proved to be even more likely than men to make a purchase as a reaction to a retailer's email.
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