How MilkIt Got 187% Revenue Growth from New Email Subscribers
Email marketing is like the Meryl Streep of the digital marketing world.
It’s been around for decades (sorry Meryl!) and yet it’s still cleaning up the awards for the industry. In fact, like Meryl, it’s getting better results than ever before.
47% of retail marketers say email is the digital marketing channel that delivers the greatest ROI, ahead of social at 19% (suck sh*t Zuckerberg! Who BTW uses email to drive traffic too).
Better yet, SalesForce reports that the average ROI on an email campaign is 3800%, or in simple man’s terms, $38 dollar in return for every $1 spent! Yeah, baby! I’d award that an Oscar!
So, it’s 2018 we are having conversations with our virtual assistant Alexa and Facebook is so influential that it can get a Cheeto-coloured maniac voted in as the President of the United States…and yet, despite all of these new-tech and consumer marketing achievements, email still stands strong. In fact, in a recent by Forbes, they talked about Millennials being obsessed with email! Go figure… millennials FTW (the, by the way, is ‘for the win’)!
Email today is unrecognisable when compared to the first ever plain text emails sent back in 1970’s. I know! I know! You want me to talk about the latest in design, personalisation, segmentation, and AI. Sorry to disappoint, but I am saving all of those juicy deets for my workshop (keep reading)!
Today I want to go back to basics. Because basics, when done right, with a growth-goal in mind and coupled vigorous testing you can achieve some amazing results. To the tune of 187% increase in revenue generated from new email subscribers! Oh and done in 90 days…
The company is a well-established retailer with over two decades of experience selling in the Automotive industry. They are rated #1 in Australia and if you took a peek at their reviews I doubt you could find one lower than 5 stars. Total Guns…
Anyway, after completing our workshop at Retail Global in 2016 and applying the strategies shared they saw 200% growth from email revenue. Their return was way better!
However, over time this spike in results steadied and they were ready for their next growth project. They were now beyond the “try this” from the workshop, they needed a custom growth strategy and that’s where we stepped in armed with our secret ANCR model.
We established the need to not only grow the client’s email list significantly but also boost conversions from email. In order for the client to sustain their email marketing efforts, they needed to see a strong return fast, so that was our priority. It was time to make it rain!
One thing that is proven time and time again is when a consumer is offered an incentive worth acting on, they’ll act on it! But if your incentive is long-winded and written in gibberish, and not humanised, seriously, ain’t nobody got time for that!
Here at Milk it Academy, we like quick wins with minimal time-wasting. We tested two call-to-actions testing long and conversational vs. short and concise. Here are the results.
Example of what they had (Long)
How’s this for a great deal? Join our newsletter and get $10 off your first purchase
Short (winner winner chicken dinner)
Subscribe to get $10 off your first order
By offering a clearer incentive we got an avalanche of new subscribers ready to act on the incentive. But there was still one more step to ensure these subscribers didn’t sit in the mailing list gathering dust.
By making improvements to their linear welcome series we were able to nurture the new subscribers. We moved them through the customer journey and got them to the point of conversion faster than ever before.
To make these improvements we did three things:
- We changed the CTA button
- We introduced product categories instead of just individual products
- We used external customer feedback to build trust
You need to set your testing plans and measure your improvements against your goals. Metrics can be misleading if you haven’t established a goal. In this case, we were testing revenue growth so we made a point to not be sidetracked by opens and clicks.
By offering a clearer and more humanised incentive the client not only saw the sexiest metric of them all, a 187% increase in revenue from new email subscribers! They also saw a 28% uplift in their open rate, an 8% uplift in CTR.
If this case study has you sweating profusely while mentally adding up revenue lost on missed email marketing opportunities, then there are two things you could do today.
- Add an incentive if you don’t already have one or improve it if you do. You can thank us later!
- You should totally register for Milk it Academy’s Email Marketing Masterclass at Retail Global 2018!
In the workshop you will learn to:
- Identify the gaps and opportunities in your existing email marketing strategy
- Integrate email campaigns into other channels including social media, messenger, ads & search
- Understand how to boost your open, click, conversion and revenue rates from your emails