Any smart businessperson knows marketing isn't measured in impressions, clicks, or opens but in revenue returned. At the end of the day, what resources did we use and how much revenue was driven as a result? In the world of marketing through bulk and transactional emails, revenue per email (RPE) is widely used to measure campaign success. It's a simple formula that shows how effective email messages are at converting and driving revenue.
How To Calculate Revenue Per Email
Revenue Per Email: Benchmarks & Improvements
Transactional emails, in general, have much higher RPE than bulk marketing emails. According to Experian, the average RPE of transactional emails can be two to six times greater than bulk emails. For example, the average bulk marketing email's RPE is $0.13 while the average RPE for order confirmation emails is $0.75. Anyone can improve upon this benchmark with some simple, strategic additions to receipt emails.
Because order confirmation emails have high open rates, you want to include content that is engaging to the customer and relates to your objective. If your goal is to increase your revenue, then try adding a unique discount code that encourages repeat purchases. Or, if you can't afford to hurt your margins, include recommended or related products based on their initial purchase.
If your objective is to grow your newsletter subscribers, include a form that encourages customers to opt-in. Similarly, if you're looking to increase your social media reach, make it clear and easy for your customers to share what they purchased by including social media sharing CTAs.
If you want to engage your customer and increase your RPE, you can segment your transactional emails and send custom, targeted messages. In fact, 81% of online shoppers say they're somewhat likely to make a purchase as a result of custom, segmented emails.
So, next time you're evaluating your email performance metrics, try calculating your revenue per email then consider implementing some of these ideas into your order confirmation emails.