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Cart Abandonment Case Study DEMCO Silverpop Adobe

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Abandoned shopping carts continue to be a major ecommerce challenge for companies, with the average abandonment rate at roughly 70 percent. As part of an overall move to a more sophisticated …

Abandoned shopping carts continue to be a major ecommerce challenge for companies, with the average abandonment rate at roughly 70 percent. As part of an overall move to a more sophisticated trigger-based email marketing approach, DEMCO, a library supplies company, has been able to capture significant "lost" revenue through an automated 3-part cart abandonment email program. In this session presented at Adobe Omniture's 2011 client conference, you’ll learn how DEMCO leveraged their Adobe Omniture Site Catalyst and Silverpop integration to implement a simple, but highly-effective cart recovery program.

This session covered:
• How to plan for and sell cart abandonment email programs to management and IT
• The key best practices in email timing, creative and offers
• A step-by-step approach to program implementation - from selling to optimization

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  • If you have a panel of presenters, multiple presenters or some a new presenter that the audience is not familiar with please add a slide here that describes their titles and roles
  • If you have a panel of presenters, multiple presenters or some a new presenter that the audience is not familiar with please add a slide here that describes their titles and roles
  • 0.7% of product views convert to orders8% of cart additions convert to ordersDESCRIBE EXACTLY WHAT A CART REMARKETING EMAIL ENTAILS – Perhaps show examples of DEMCO remarketing email here.
  • Perform gap analysis on current capabilities and articulate the goals of the program.
  • Mapped out the forecasted sales & cost informationIdentified when it was realistic to roll out each program
  • Mapped out the forecasted sales & cost information

Transcript

  • 1. Capturing Lost Revenue:How to Initiate a Cart Abandonment Email Program
    Lisa Moling
    E-Marketing Manager, DEMCO
    Loren McDonald
    VP Industry Relations, Silverpop
    1
  • 2. 2
  • 3. 3
    Leverage Silverpop & Adobe Site Catalyst and recapture lost revenue
  • 4. Agenda
    1
    About the Presenters
    2
    Why Cart Abandonment Email Programs?
    3
    Developing a Plan / Considerations
    4
    Implementation Process
    5
    Results
    6
    Lessons Learned & Takeaways
    4
  • 5. Presenter
    Lisa Moling, E-Marketing Manager
    Develop & implement e-marketing programs including email marketing, online promotions, web analysis, paid search, social and CRM
    Over 15 years online and direct marketing experience in diverse industries including tourism, insurance and industrial safety.
    5
  • 6. Presenter
    6
    About DEMCO
    Based in Madison, WI
    Sell library supplies
    Originally a catalog company
    Now web is a primary order source
    B2B, but respond like consumers
  • 7. Presenter
    Loren McDonald, Vice President of Industry Relations
    Leads industry leadership activities including more than 400 articles on email marketing, blogs, educational sessions and Webinars.
    27 years experience in marketing, consulting and strategic planning with executive level positions at Lyris, EmailLabs, USWeb/CKS and Arthur Andersen.
    eec Marketer of the Year - 2011
    7
  • 8. Presenter
    8
    About Silverpop
    A leading email marketing / marketing automation provider
    Email Marketing
    Marketing Automation
    Transactional Email
    Social Connect
    Send Time Optimization
    Landing Pages
    Surveys
    SMS
    Adobe Partner
  • 9. Agenda
    1
    About the Presenters
    2
    Why Cart Abandonment Email Programs?
    3
    Developing a Plan / Considerations
    4
    Implementation Process
    5
    Results
    6
    Lessons Learned & Takeaways
    9
  • 10. Capturing Lost Revenue
    10
    Don’t let sales and customers slip away! Email Remarketing can capture revenue you missed the first time.
  • 11. Multiple Opportunities in the Funnel
    300+ cart adds that never made it to checkout
    Only 138 orders actually placed
    11
    Huge Remarketing Opportunity
    Huge Remarketing Opportunity – 300+ cart adds that never made it to Checkout, and only 138 actual orders were placed.
  • 12. “60–70%”
    — Multiple Sources
    Abandoned Carts, Lost Revenure
    12
    Up to 70% of Shopping Carts are Abandoned before Checkout
  • 13. Do you deploy cart recovery emails?
    Still quite a few who have not deployed this email remarketing technique.
    13
  • 14. Cart Abandonment Recovery Email Programs:
    Percentage of Email Revenue
    12%
    10%
    30%
    25%
    25%
    20%
    20%
    5%
    5%
    4%
    2%
    2%
    1%
    1%
    0.50%
    70%
    50%
    DEMCO
    Source: Silverpop Benchmark Study
  • 15. “How much money are YOU leaving on the table?”
    15
  • 16. Agenda
    1
    About the Presenters
    2
    Why Cart Abandonment Email Programs?
    3
    Developing a Plan / Considerations
    4
    Implementation Process
    5
    Results
    6
    Lessons Learned & Takeaways
    16
  • 17. Challenges and Opportunities
    What is your cart abandoned rate?
    DEMCO below average at 30%
    Will it be worthwhile to automate abandoned cart triggered email program opportunity to recover lost revenue?
    DEMCO did the math and decided YES!
    Actually Challenge = Opportunity!
    17
  • 18. Step 1: Develop a strategic email plan
    More sophisticated & targeted email program – increased relevancy
    Promotional Emails
    “Push” info to customers
    +…
    18
  • 25. Pre- to Post-Purchase Triggered Email Types
    Right time, right message!
  • 26. Step 2: Assess capabilities & articulate goals
    Gap analysis demonstrated that we needed to search for a new ESP
    20
  • 27. Step 3:
    Develop Offer and Estimate Incremental Revenue Analysis demonstrates potential huge revenue win.
    21
  • 28. Step 4: Demonstrate the ROI
    Expecting ROI Positive in year 1!
    22
  • 29. Abandoned Carts, Lost Revenure
    23
    Following up with abandoners by email can yield 25% or more conversion rates
  • 30. Step 5: Develop Creative Strategy
    Started with a 3-step messaging approach…
    24
  • 31. Message A – 1 day after
  • 32. Message B – 3 days after
  • 33. Message C – 5 days after
  • 34. What about the “big brother” theory?
    Timing
    Send out emails next day aftercart is abandoned
    IT programming – what was feasible
    Market we serve – libraries & teachers
    Unsubscribe rates less than 0.2%
    28
  • 35. In Your Face…vs…
  • 36. ...Service Orientation
    • Human service tone
    • 37. “Are you having trouble with your purchase decision?”
    • 38. 50% conversion rate
  • Agenda
    1
    About the Presenters
    2
    Why Cart Abadonment Email Programs?
    3
    Developing a Plan / Considerations
    4
    Implementation Process
    5
    Results
    6
    Lessons Learned & Takeaways
  • 39. How do the systems work together?
    Launch promotional email
    System: Silverpop
    Web visitors
    (from search, bookmarks, etc.)
    Go to demco.com
    System: Adobe
    (Genesis)
    Go to demco.com
    Sign in & save cart
    Data feeds:
    • Abandoned cart date
    • 40. Shopping cart URL (business system)
    Data feeds:
    • Abandoned cart date
    • 41. Product purchase date
    • 42. Product IDs
    • 43. Shopping cart URL (business system)
    Launch abandoned
    cart email
    System: Silverpop
    Launch abandoned cart email
    System: Silverpop
  • 44. Timeline
    11 months start to finish
    Sign new contract
    ESP & Adobe Genesis integration
    Develop email plan
    Research Email Service Providers (ongoing since fall)
    Create triggered rules & testing
    Jan
    Launch
    IT programming - Changes to cookie, cart ID in URL, carts from signing in
    Creative development
    Sell internally
    Get approval
    Start w/new ESP
    33
    33
  • 45. Agenda
    1
    About the Presenters
    2
    Why Cart Abadonment Email Programs?
    3
    Developing a Plan / Considerations
    4
    Implementation Process
    5
    Results
    6
    Lessons Learned & Takeaways
    34
  • 46. Step 6 & 7: Analyze Results & Determine Follow-up Cadence
    Conversion rate is just as high on the first email as it is on the last email – without an offer
  • 47. Offer incentives on first email?
    36
    Majority of marketers choose no offer on first email
    6%
    6%
    24%
    64%
  • 48. Results: compared to promotional emails
    These relevant and timely emails had significant results!
    37
  • 49. 2009 Abandoned Cart Indexed Results
    Revenue per email 15x versus broadcast emails
  • 50. Cart vs Broadcast Emails
    High % of sales relative to volume
  • 51. Agenda
    1
    About the Presenters
    2
    Why Cart Abadonment Email Programs?
    3
    Developing a Plan / Considerations
    4
    Implementation Process
    5
    Results
    6
    Lessons Learned & Takeaways
  • 52. Lessons Learned
    Add in other abandons, not just those triggered by email
    Added an opt-out flag for abandoned carts only
    Don’t say “we’re going to empty your cart!”
  • 53. Testing & potential improvements
    List the products in the email, with thumbnails
    Testing offers ($ off, % off, different free gift)
    Testing timing of offers (# of days, # of emails)
  • 54. 11 Key Takeaways
    Launch
    Measure, Improve, Expand
    Develop a Plan
    Create your overall marketing plan
    Build an ROI case
    Use an email service provider that integrates with Omniture
    See if you can identify other sources of conversion loss aside from email initiated (signed in, save cart, started order)
    Go through ESP & integration processes
    Work with IT group on finishing touches
    Develop creative
    Test, test, test
    Measure results
    Identify improvement areas
    Expand to new areas of conversion optimization
  • 55. 44
    Leverage Silverpop & Adobe Site Catalyst and recapture lost revenue
  • 56. Q&A
    45
    Stop by booth #XXX
    For…TBD
  • 57. 46
    www.silverpop.com
    Twitter: @Silverpop
    Lisa Moling
    lisam@demco.com
    Loren McDonald
    lmcdonald@silverpop.com
    Twitter: @LorenMcDonald
  • 58. 47
    Stop by booth in the Partner Showcase