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As we’ve covered extensively in Retail Brew, the times for retailers are a-changin’. And when every day is different than the last, and every challenge seems like a huge one, maximizing revenue, and identifying revenue gaps, is more important than ever.
But where’s that revenue getting lost? More often than not, the likely culprit standing between you and fully-realized revenue are gaps in email and cross-marketing channels.
If that’s a shock to your selling system, we’ve teamed up with our friends at Listrak, the digital automation platform trusted by 1,000+ leading brands, to discuss how you can avoid this.
FYI, You Need the RGI
We’re not ones to bury the lede, so let’s get right to the bit of brain wizardry that is the Revenue Gap Index (RGI). The RGI, simply put, is an analysis that pinpoints gaps in email and cross-channel marketing programs. But just knowing the gaps isn’t enough, learning how to take action is the real ticket.
The RGI features a framework that demonstrates to retailers exactly what you’re missing, and then shows you the revenue-generating potential of your communications.
The Proof is in the Furniture
To fully appreciate the RGI, let’s look at it in action for chic furniture creators, Jonathan Adler. They needed an inclusive platform that would help them save time and drive incremental revenue. By utilizing Listrak and the RGI, they have achieved a 62x ROI since launch by optimizing and growing their digital campaigns. And if that doesn’t blow your retail socks off, Jonathan Adler also saw 109% revenue growth in a 12-month span.
With people spending more time at home, Jonathan Adler needed to be ready to capture new customers in a way that was fiscally smart, intuitive, and easily automated. Just like a divinely designed living room, Jonathan Adler and the RGI were a match made in e-commerce heaven.
One and Never Done
In an increasingly fragmented world, the brands who are turning to a single integrated platform solution are reaping big rewards. Beyond Jonathan Adler, companies like Vineyard Vines, Tula Skincare, 7 For All Mankind, and literally hundreds of others, are utilizing Listrak to grow revenue by integrating email, SMS, and behavioral triggers on one platform. That integration, plus the insight and tactics provided by the RGI, is a retail recipe for revenue success.
To learn more about the RGI, and how it can turn revenue gaps into revenue opportunities get all the info here.