Jun 12, 2020
Missing glaringly obvious opportunities
David Swift CEO of SwiftERM was in the enviable position of being the only consultant appointed by the UK Government’s DTi responsible initially for mail order and subsequently ecommerce for over 30 years. Appreciating the need for a totally automatic means to communicate with their consumers, SwiftERM was launched in 2014 to huge applause, but then immediate pigeon-holed along with everything else that has the precursor “email”. So typically a retailer using something like Mailchimp would say, “I’m happy with them, that’ll do I don’t need anything, end of”.
So we said “That’s OK, we work with all ESPs including Mailchimp and Emarsys etc”, with the effect of just adding to their confusion. After all, how do you get rid of an inconvenience if it refuses to conform to your immediate perception and go away? So they blast away all day, surrounded by literally hundreds of people in the promotional and email marketing departments, as in the case of Dunelm, Next, Net-a-Porter etc. Each fastidiously working on building reputations, devising campaigns themes, ever nurturing greater loyalty, segmenting-profiles of audiences, weighed against promotional incentives and multi-million products investment.
Along comes automatic SwiftERM software that turns this method on its head. Instead of its core principle being what the retailer wants to sell, it devises entirely personal emails for each individual consumer, based on what they want to buy. But before you rush out your office to fire all your marketing team, we are saying each has its place, and one complements the other.
Move on 5 years, and an investment of over £2 million perfecting it, many retailers now enjoy the distinction. Not without controversy does it require an appreciation of the different way it works. It still irritates the hell out of conventional methodology and ideology, as it cuts to the chase of cutting-edge technology application. All big-data, AI lectures on the circuit you might attend conclude with the same principal. Why rage against the storm, if the humble consumer is happy to buy the things they like, need, appreciate, covet etc most, why not offer it regardless of how much you spend on hyping up something else to make it seem appealing?
Statistics, that have been around since the initial appreciating of CRM, show that it costs 7 times more to find a new customer than keep an existing one. What then the cost of creating demand instead of simply capturing demand that is already there? Consider then the following stats:
Not a huge addition to the effort until you scrutinise it in more detail. Illustrated are the stats for an ecommerce fashion retailer. In eight months to date, SwiftERM added 5.6% additional turnover, sending out 2.1 million emails, which is roughly 2 emails a month each, to a database of 189,918 people. The returned turnover is £264,044.50 which after a month’s free trial and a GP of 60% (conservative for fashion) gives an ROI calculation as follows:
Turnover attributed: £264,044.50 x 60% GP = £158,426.70
Cost of SwiftERM = (1 month trial free) 7 x £1,800 = £12,600 (See rates here)
ROI = 1157%
These actual stats were delivered in addition to the contribution made by a massive floor full of exceptionally talented marketing staff, working exceptionally hard, to drive the company forward. The immediate benefit of predictive analytics identifying from a mass of KPIs, exactly the products that each individual consumer is most likely to buy next, regardless of persuasion or influence. Here then is the crux, with finite regard for avoiding the pressure sell, these products are offered to that person in a simple email that only has product content — no hullabaloo!
If the buying history and every single impression from that person’s every visit, plus all the clicks that every email has ever learnt from, to better hone the products selection choice, is it any wonder that it delivers so much so accurately so perpetually? Like yesterday’s news being tomorrow’s chip wrappers, so consumer’s desires yesterday change infinitely quickly too. No segmenting in the world can keep up with that, that’s why you need SwiftERM.
Let us return to the ecommerce manager and director considering introducing alternate software, such as SwiftERM. They are surrounded by perpetual clamour for their time. They justifiably believe investment, only spreads so think from a myriad of choices, all of which purport to be the next-big-thing. We know there’s always the consideration of switching to a different and better platform, redesigning and refreshing your site, campaign theme development, left-field changes to accounting software, drop-ship software, carriers, returns handling, SEO programs, the list is endless.
So we offer to take away one headache, and a stumbling block, as you might otherwise chuck us on the heap with all the other people knocking at your door, a free trial! Not without the risk of our product being perceived as somehow denigrated as a consequence. We as so confident in our system, we know it will deliver a handsome return from day one, so zero budget is actually required, whatsoever. Consumer’s visiting your site leave a myriad of impressions, that are not stored on your platform. We see the capacity of return, therefore improve significantly over the first year. In the first month the returns, as can be seen above, are still very respectable, and easily justify its incorporation into every ecommerce retailers marketing program. Factor into this mix negligible return rates and it makes this an even more viable proposition. These are products your consumer’s want and as a consequence, it provokes about half the suppression rate compared to normal email software you might use, making this even better value.
So here is the conundrum, if you were offered a free trial of this powerful automatic email marketing software; that has cost us £2 million to develop so far, that can be proved to make you millions every year, would you delay installing it or worse say no, or grab it with both hands and find out? To know more and enjoy a no-obligation trial register above now, because otherwise every day is lost additional revenue!
SwiftERM is an accredited Microsoft Partner MSN ID: 6197468
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Originally published at https://www.swifterm.com on June 12, 2020.
