Digital marketing software provider Silverpop has released a marketing automation solution designed with the unique needs of those in the e-commerce space in mind. Following Frost and Sullivan's recent prediction that the marketing automation industry will generate roughly $2 billion in revenue by 2020, the company aims to leverage the momentum created by the growth of marketing automation and deliver highly customized experiences to its customers.
The first of several areas that Silverpop plans to target, e-commerce is a logical starting point because it's the company's biggest vertical. "Our largest customer base is in e-commerce, and we wanted to develop a solution that would expedite the work [these customers] do and help them get to market faster," Adam Steinberg, director of emerging applications at Silverpop, says.
The solution is made up of three main components that will help marketers at different points throughout the campaign-building process. The E-commerce Connector comes into play first, and allows marketers to build integrations between their e-commerce solutions and Silverpop's software. Powered by Windsor Circle, the connector integrates Silverpop with several e-commerce platforms, including ChannelAdvisor, Magento, and Shopify. "This is one of the things that make this e-commerce-geared solution unique," Steinberg says. "Marketers have access to Web data and email data, but this connector seamlessly pulls in that all-important purchasing data, which is crucial for e-commerce," he adds.
The second component of Silverpop's solution is twofold, made up of the Purchase Insights and Engagement Insights capabilities. The engagement tool measures how engaged customers are and determines whether they're dormant, passive, or active users. It can also calculate a customer's lifetime value and carry out an RFM (recency, frequency, monetary) analysis. Once marketers launch campaigns that reflect the engagement insight they gauged, the Purchase Insight tool starts working to measure how the campaign performed. "The two Insights functions really work hand in hand to guide marketers as they create campaigns. They put valuable data in the hands of marketers, so that when they're presenting to their CMO, they're equipped with solid data points," Steinberg explains.
The "last piece of the puzzle," E-commerce Campaigns are turnkey automated campaigns that allow marketers to engage with customers using prebuilt templates for different types of marketing messages, such as re-engagement or welcome emails. This component of the solution, according to Steinberg, will save marketers not only time, but also money. "This is where the solution becomes a major money saver. Marketers won't have to worry about hiring creative contractors to design content—the tools they need are all there," he says.
Widely available now, the e-commerce marketing automation solution has been tested by a variety of Silverpop's users, including its biggest and smallest customers. "We were happy to see it works for companies with a five-person marketing team and a fifty-person marketing team too," Steinberg says. "It's a solution for all shapes and sizes."