More than 40 Percent of Marketers Report that Failing to Innovate with Email Will Result in Loss of Customers

PHILADELPHIA, Oct. 8, 2014 /PRNewswire/ -- Email marketing is still the most-used digital marketing vehicle and a key revenue driver, but marketers see room for innovation in email programs, according to "Innovate With Email To Create Competitive Advantage," a new commissioned study conducted by Forrester Consulting released today by Monetate.

Email Remains Digital Marketing Workhorse
The survey of nearly 230 marketers in the US and UK found that a majority of marketers rely on email as a mainstay of marketing campaigns, but they're willing to invest twice as much in those programs, if they can take advantage of emerging innovations.

The reason for this is clear. Those surveyed said email helps drive positive business results in three key areas:

• 58 percent of respondents report that email is effective at driving sales
• 73 percent of respondents report that email is effective at generating leads
• 66 percent of respondents report that email is effective at building loyalty

Current Email Efforts Don't Cut It
While the study shows that email is still a widely-used tool in the marketer's toolbox, and a key driver of business value, it also illustrates the improvements needed to further boost email marketing performance. The majority of marketers surveyed ranked "driving sales" as their email marketing strategy's most important goal, but felt their current email programs were least effective at accomplishing this. These marketers are looking to innovations in email to better reach this critical goal.  

• Nearly 40 percent of respondents believe advanced personalization, which accounts for the context of a user at the time of open, is critical to creating email relevance and boosting sales
• 39 percent of respondents say that dynamic content, such as changing an offer based on a user's profile, is one of the top three email innovations needed; 37 percent say open-time personalization — customizing an email message to deploy different content based on when and in what conditions the email message is opened — is in the top three innovations needed as well

"Today's consumers are dynamic. They interact with each other and with brands on all kinds of channels and in all kinds of ways – a trend we expect to only continue as the customer experience further evolves," said Bruce Ernst, Vice President of Product Management at Monetate. "However, the efforts many marketers use to reach consumers are not equally as dynamic. The technology exists for marketers to create these dynamic experiences, and brands must adopt these innovative technologies in order to meet ever-changing customer expectations."

Lack of Innovation Will Lead to Loss
The study also found that the value of innovation — and cost of not innovating — is clear to marketers today. The greatest risks that marketers see by not innovating email campaigns include:

• Customer attrition, reported by 42 percent of respondents
• Loss of sales, reported by 41 percent of respondents
• Negative brand image, reported by 37 percent of respondents

According to the study authored by Forrester VP and Principal Analyst Shar VanBoskirk, in the age of the customer, "the ability to create and maintain customer relationships is not just a good 'customer-centric' approach. It is a competitive necessity." It also states, "email marketing still wins as the most cost-effective marketing channel for building and maintaining customer goodwill."

The findings of this report also are being discussed during a webinar on Wednesday, Oct. 8 at 1:30PM ET. Click here to sign up for the webinar.

Click here to download the full report, "Innovate With Email To Create Competitive Advantage."

About Monetate
Monetate is the global leader in cloud-based testing, email optimization and in-the-moment personalization software that empowers marketers to create, deliver and measure personalized marketing campaigns across all touchpoints—at scale.

Customers use Monetate's solutions to identify important customer segments, target them with dynamic digital marketing campaigns, and measure the results of those campaigns—in real time within a single easy-to-use interface.

Monetate is used by the world's leading brands to grow revenue faster by delivering better digital experiences for their customers around the globe. Founded in 2008, Monetate influences billions of dollars in revenue every year for world-class companies like Patagonia, Best Buy, National Geographic, QVC, Celebrity Cruises and hundreds of other market leaders.

SOURCE Monetate