RevTrax’s Report, “The Opt-In Value Exchange” reveals that over two-thirds of retailers, CPG and QSR brands are not adequately incentivizing consumers to sign up for email promotions despite increased consumer bargain hunting.
NEW YORK- Sept. 21, 2021- RevTrax, a leading promotions marketing platform, today released a new research report, entitled “The Opt-In Value Exchange”. The report takes a comprehensive look at the nation’s top brand’s email acquisition strategies, particularly the use of discounts and incentives to motivate shoppers to provide their affirmative consent to receive email marketing offers.
For this report, RevTrax audited the nation’s top 100 retailers, top 100 CPG brands, and top 60 quick serve restaurant’s email sign up pages, to find out how many and which of these brands are using discounts, offers, and incentives to promote higher volumes of email sign ups. The audit revealed that, despite email marketing being one of the most effective and highest ROI channels for driving online sales, only 36% of retailers, 18% of CPG brands, and just 8% of QSRs currently offer promotions to incentivize incremental growth in sign ups.
For those that did offer discounts and promotions, below were RevTrax’s key findings:
Types of Discounts Offered:
- Percent Off: 25%
- Cash Discount: 10%
- Alternative Offers (free shipping, BOGO, etc.): 1%
- Percent Off: 7%
- Cash Discount: 5%
- Alternative Offers (free shipping, BOGO, etc.): 6%
- Percent Off: 0%
- Cash Discount: 3%
- Alternative Offers (free shipping, BOGO, etc.): 5%
Most Offered Percent Off Discounts (Across All Categories):
- 10% Off: 4%
- 15% Off: 6%
- 20% or More Off: 3%
“Over the past year and a half, email marketing has significantly grown in importance as “Big Tech’s” crackdown on the use of third-party cookies for ad targeting continues to diminish online display and social newsfeed ad efficiency and effectiveness,” said Jonathan Treiber, CEO of RevTrax. “Marketers have been shifting to the use of alternative digital identifiers for targeting across channels, and email addresses have emerged as the primary “digital ID” to deliver personalized marketing to consumers. This is both for traditional email marketing, as well as for targeting beyond the confines of the inbox. As such, the urgency around acquiring consumers’ email addresses using a privacy-by-design approach has never been greater.”
In addition, according to the RevTrax 2021 Promotions Benchmark Report, email saw a surge in promotion redemption rates in 2020, rising from 21% in 2018 to 37% last year. This is a larger increase compared to any other digital marketing channel and an indicator that consumers are in bargain hunting mode against the ongoing backdrop of the Covid-19 pandemic, and turning to email as the primary channel to find deals.
Treiber added, “Providing a clear value exchange is the motivating force for shoppers to share their data, especially now, as they’ve gotten more price sensitive and discount-dependent since the pandemic. But our view is that discounts and incentives shouldn’t be one-size-fits-all, but instead should be personalized and optimized by leveraging data, insights and the latest advancements in artificial intelligence, in order to motivate the highest volume of high quality opt-ins, while also optimizing profits.“
RevTrax’s customers are benefiting from the company’s promotions marketing platform to deliver individually tailored offers, discounts, and promotions on email sign up pages and forms, increasing email acquisition rates by an average of 22%, and as high as 52%. It’s newly launched AI-powered solution for email acquisition represents the first innovation in on-site email capture in over a decade.
To download the RevTrax Opt-In Value Exchange report, visit: https://go.revtrax.com/opt-in-incentive-report-download