New Research: Predictive Intelligence Insights from 140+ Million Interactions
A version of this post originally appeared on the Salesforce Marketing Cloud Blog.
The key to building a highly personalized customer journey starts with predictive intelligence. Measuring your predictive intelligence performance and the impact predictive web recommendations and predictive intelligence-inclusive email campaigns have on your bottom line can be tough. It's hard to know how your predictive intelligence campaigns are performing and where you can improve.
That is why we are excited to announce the Predictive Intelligence Benchmark Report, a first-of-its-kind benchmark report on predictive intelligence metrics and insights based on 140+ million interactions through the Salesforce Marketing Cloud platform.
The report includes several key metrics for both predictive web recommendations and email campaigns that used predictive intelligence. The data includes:
- Web visits influenced over time
- Total orders influenced over time
- Revenue influenced over time
- Lift in conversion rate over time
- Life in revenue per session over time
- Click-to-open rate by email campaign type
- Revenue per open by email campaign type
- Revenue per click by email campaign type
- Influenced revenue over time by email campaign type
Some key insights from the report include:
- On average, predictive intelligence recommendations influenced 26.34% of total orders. When analyzed over a 36-month period, we see that the total orders influenced increased from 11.47% at the beginning of predictive intelligence use to 34.71% after 36 months. As marketers gain greater behavioral insight into individual customer journeys and their resulting purchases, they can continue to better tailor recommendations.
- The average lift in conversion rate for sessions influenced by predictive intelligence is 22.66%. A nearly 23% lift can significantly impact a business. Thanks to the ever-increasing volume of data being collected, companies continue to see an increase in conversion rates over time.
- Predictive intelligence shows a 40.38% influence in revenue after 36 months of implementation.
- Marketing email campaigns using predictive intelligence yield the highest influenced revenue. Back- in-stock emails yield the highest revenue per open.
- Abandoned cart emails generate the highest average revenue per click at $36.02. They also generate the second-highest revenue per open.
- Timing is everything. Marketing, abandoned cart, and abandoned product emails generate the highest overall revenue within the first 24 hours of send. Transactional emails generate 80% of their revenue on the day of send, and abandoned cart emails generate 60% of their revenue on the day of send.
Download the complete Predictive Intelligence Benchmark Report for actionable numbers to begin improving your predictive intelligence strategies today.