When we started CM Commerce (previously Receiptful) a few months ago, we didn’t know what we were getting into.
There was no market for what we do.
Don’t believe me? Look for “email receipts” in Google.
The only thing you’ll find is companies that let you develop your own receipts online, or companies that let you send receipts through your email, but not both.
It’s not email marketing, nor it is Ecommerce.
It’s a mix of both worlds.
Because CM Commerce – and the notion that e-mail receipts are a marketing opportunity – is so new, we wanted to share 6 key insights and learnings that we’ve accumulated in the last couple of months from analyzing 100K email receipts.
Insight #1: Our Engagement and Open Rates are 3x and 4x Higher than Emails
Using Mailchimp’s email marketing benchmarks, we’ve discovered our open rates are 4x higher than common email rates (for Ecommerce as an industry).
While CM Commerce’s open rates were at a staggering 70.90%, Mailchimp’s were at 17.19%.
Also, our engagement rates (which includes both clicks and/or conversions) were at 8.93%, compared to 2.70% of regular emails.
That’s a 3x difference.
We believe there are two reasons behind these big differences between email receipts and emails:
- Most people don’t expect to get offers and discounts in their receipts, which makes them curious
- They’re still “engaged with you” from the purchase they just made, so that makes them more likely to click and, hopefully, buy.
Insight #2: The Average Attention Span is 185% Higher than Emails
The average attention span of our receipts is 14.8 seconds.
Compared to the average attention span of emails of 8 seconds, that’s 185% higher.
Insight #3: Gmail is the Most Popular Reading Enviroment
From the three types of reading enviroments that one can use to read emails (desktop clients, web browser clients and mobile devices), the most commonly used for reading CM Commerce’s emails is web browser clients, with a 47.6% of the total reading share.
And from the different web browser clients one can use to read emails (such as Yahoo, Gmail and Outlook.com), the most common client used by far is Gmail.
Finally, if we take all the different email clients that exist (all the previosuly mentioned), the most popular one is once again Gmail with a 22.9% of popularity.
Insight #4: The Most Common Viewing Enviroment is the iPhone
The most commonly used device for reading our email receipts is the Apple iPhone, which represents 30% of the total viewing devices.
Along with the previous insight, it’s evident that many customers engage with receipts via mobile and importantly, that this doesn’t prevent them from taking action (that leads to further purchases).
For every receipt our users send, they make an average of $0.25 of revenue.
If you think this is little, think twice.
For every 100 receipts you send, you can make an average of $25 of extra revenue with no effort from your side. (This is even more significant given that we calculated this without excluding receipts that didn’t have an upsell of any kind.)
Remember that once you set up your CM Commerce account, there’s nothing else you need to do (besides counting the extra revenue you make).
Insight #6: 96% of Feedback Sent is Positive
Since we added the feedback module last February, we’ve discovered that 29 out of every 30 feedback sent by our Ecommerce store’s customers is positive.
That’s a 96% rate!
Although we can’t say that positive rate is due to our email receipts, most certainly they must have an impact in the overall service provided to customers.
What We Learned from Sending 100K Email Receipts