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Cart Abandonment Email Marketing
 

Cart Abandonment Email Marketing

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  • 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
  • 87% of consumers abandon online shopping baskets. 75% claim they would return at a later date to complete the purchase — effectively using the basket as a wish list.
  • 87% of consumers abandon online shopping baskets. 75% claim they would return at a later date to complete the purchase — effectively using the basket as a wish list.
  • 87% of consumers abandon online shopping baskets. 75% claim they would return at a later date to complete the purchase — effectively using the basket as a wish list.
  • 87% of consumers abandon online shopping baskets. 75% claim they would return at a later date to complete the purchase — effectively using the basket as a wish list.
  • Over 3,000 shopping cart abandoned emails sent, per monthSegment versions between supplies versus SmartPaks cart abandonmentSent in AM to customers who abandon cart day prior
  • 87% of consumers abandon online shopping baskets. 75% claim they would return at a later date to complete the purchase — effectively using the basket as a wish list.
  • ability to track the responder’s behavior not only to the landing page of a … but also from there through the Web site to ultimate sale, hesitation, or outright cart abandonment. This tracking is critical to testing modifications in the construction and targeting of the email that might improve results.” - IDC Worldwide Web Analytics Software Applications 2006 - 2010 Forecast and Analysis: 2005 Shares and Current Out look in the Year of IntegrationJune, 2006But that is exactly what we enable ourselves to do when we integrate email and analytics in the online worldSegments: Thick Slices = High ImpactFrom the information we gain - as we learn about groups within our visitor segments - we can refine and tailor the conversation with “thinner” custom slices of our population. Omniture’s Data Warehouse give you the option of any number of segment definitions for a more custom segmentation and thinner slices.Integrating email and web analytics behavior data lets you listen to what your customer is telling you through their website behavior, interact with them in a dialog of additional offers, and refine your knowledge until ultimately you and the customer determine how you can best fulfill the customer’s needs. When you send a spray and pray email, you are putting earmuffs on your concierge.But when you complete an integration, you are taking off the earmuffs, and letting the conversation flow.
  • Once integrated, you get all your campaign and site conversion metrics in one reporting interface. This is the LISTENING framework that allows you to go beyond measuring response rates, things like impressions, clicks and opens to measuring response values like revenue per open, orders per campaign, and conversion for a given email campaign. Knowing response values is really critical, because it allows you to know and prove which of your email campaigns and offers are really driving sales, and more importantly…which segments in your database are most valuable.

Cart Abandonment Email Marketing Cart Abandonment Email Marketing Presentation Transcript

  • Everything you need to know forcart abandonment emailremarketing success
  • Everything youalways wanted to know aboutcart abandonment emails*cart abandonment Explained by Lisa MolingLoren McDonald*BUT WERE AFRAID TO ASK
  • Speakers Lisa Moling, E-Marketing Manager, DEMCO • 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. Loren McDonald, Vice President of Industry Relations, Silverpop • Leads industry leadership activities including more than 500 articles on email marketing, blogs, educational sessions and Webinars. • 28 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
  • About DEMCOAbout DEMCO• Based in Madison, WI• Sell library supplies – Originally a catalog company – Now web is a primary order source• B2B, but respond like consumers
  • About Silverpop
  • Agenda: 5 Categories > 12 Questions Background Creative / Business Incentives Case Timing / # Data / of Emails Integration
  • - We started with 25+ questions - Rehearsed with 19 - Cut to 12 for today
  • 0. Are we cool with what cartrecovery is, why you should do it, ….?
  • Building the Business Case
  • 1. How do we get the necessary budget, IT and marketing resources to make it happen?
  • Assess capabilities & articulate goalsGap analysis demonstrated that we needed to search for a new ESP • “Batch & Blast” emails via a small business email service provider. Current • Using Adobe SiteCatalyst Capabilities • Read research studies which demonstrated conversion rates on abandoned cart emails could be 4-6x conversion rate of a “regular” email • Increase sales by optimizing conversions – Identify and market to cart abandons • Free up manpower by automating routine tasks - API integration allow us to Program Goals automate opt-outs/opt-ins from our email system to our business system • Track Revenue per Send - New email service provider could integrate with web analytics so we could track email sales
  • Build Revenue ForecastEstimate incremental revenue analysis - demonstrates potentialhuge revenue win. Open Shopping Carts Program Qty 25,000 Open rate 60% Opens 15,000 Click to Open 40% Clicks 6,000 Potential RR 15% Orders 900 AOV $215 Potential Sales $193,500 Sales/Email $7.72
  • Demonstrate the ROIExpecting ROI Positive in year 1! Q3/Q4 2008 2009 2010Sales Triggered Emails $500,000 $750,000 $1,000,000Cost $50,000 $55,000 $55,000(ESP, Analytics Integration, etc.)Sales/Spend $10 $14 $18
  • 2. What kind of conversion rates and revenue can I expect?
  • Following up with abandoners by email yieldsup to 50% conversion.
  • DEMCO: Cart vs Broadcast Emails High % of sales relative to volume Relative Volume Relative Sales Abandon Cart Abandon Cart Emails Emails 0.3% 18.6% Promotional Emails Promotional 99.7% Emails 81.4%
  • Cart Abandonment Recovery Email Programs: Cart Recovery: Percentage of Email Revenue 70% 30% 12% 5% 50% 25% 10% 5% 25% 4% 2% 20% 2% 20% 1% 1% 0.50% Source: Silverpop 2010 Benchmark Study
  • DEMCO ResultsConversion rate is just as high on the first email as it is on the last email– without an offer Cart Email A Cart Email B Cart Email C Day 1 Day 3 Day 5 AVERAGEOpen Rate 40% 39% 32% 37%Click-to-Open 44% 47% 28% 41%Click-thru-Rate 18% 18% 9% 15%Conversion Rate 22% 15% 24% 20%Sales/email $8.60 $8.40 $5.04 $7.46
  • Data and Integration
  • 3. Where do we get the email addresses from?
  • 2 sources for email addresses Launch promotional email Web visitors System: Silverpop (from search, bookmarks, etc.) Go to demco.com Go to demco.com System: Adobe Sign in & save cart (Genesis) Data feeds: Data feeds: • Abandoned cart date • Abandoned cart date • Product purchase date • Shopping cart URL • Product IDs (business system) • Shopping cart URL (business system) Launch abandoned Launch abandoned cart email cart email System: Silverpop System: Silverpop
  • 4. How do I get the data between my ESP and Adobe Site Catalyst?
  • Genesis Integration with your ESP Makes it Easy! Genesis Email Partners No need to add code to your web pages to launch an integration!
  • 5. How long will it take from setup to launch?
  • DEMCO: 4 months start to finish IT programming - Changes to cookie, cart ID in URL, carts from signing in Start w/new ESP Creative development ESP & Adobe Create triggered Genesis integration rules & testing25 25
  • Timing and Number of Emails
  • 6. When should the first cart recovery email be sent?
  • Timing Factors1. Within 1-2 hours, but 24 at latest2. 23 hours3. 3-5 days, 1 week• Factors/Issues: • Product type (e.g., travel) • Feed timing • Did they purchase after abandoning?
  • 7. How many cart recovery emails should we send?
  • How many emails should you send? At least 1 2 is better 3 is even better 4 or more – may be too many, but test it
  • Message A – 1 day after
  • Message B – 3 days after
  • Message C – 5 days after
  • Creative – Design, Content, andIncentives
  • 8. Should we use incentives?
  • Use Promotions, but with care • Promotions will generate lift, and incremental profit • Best practice is to promote on the last of your sequence Conversion Cumulative • Capture maximum margin per stage conversion • Avoid training the customer to expect a promotionStage Conversion Open Rate Revenue / email1: Real time 22% 70% $112: 24 hours 7% 65% $4 Lift3: 7 days 6% 60% $3 1 2 3Total 35% Average 65% Average $6 Unsubscribe rate Source: SeeWhy
  • Simple – Save 15%
  • 9. Should we include product photos, pricing, reviews and recommendations?
  • 25% conversion on cart abandoners. Cart program account for almost 1/3 of TOTAL yearly email salesPrice First and most effective in the series sent within hours after abandonment.
  • Product Inclusion – No price…yet Next step add in price and average reviewsThe results:• 38.5% open rate• 10.15% CTR• 50% conversion rate• $4.80 revenue/email Next step add in price and average reviews
  • 10. What kind of design/layout approach should we use?
  • Clean / Multiple “reminders”
  • Stylish…
  • 11. What kind of tone and style of copy should we use?
  • • Service tone• Human• Multiplechannel options• Reassurance• 50%conversion
  • 12. What are subject line best practices and examples?
  • Sample From Names/Subject Lines From Name Subject Line Soft Surrounding Good News! Your Shopping Bag is Still Available Simple Shoes Want to get free shipping on your next order on simpleshoes.com? Fabric.com Dont Go Yet! Come Back to Your Shopping Cart & Save! Exclusively.In Hurry! You Have Items In Your Cart, Get Them Before Theyre Gone. Hurry! You Have Items In Your Cart, Get Them Before Theyre Gone & Get Exclusively.In Free Shipping Until The 15th Of Dec. Cuddledown Items in your shopping cart are still available for purchase CircuitCity.com You Left Something at CircuitCity.com… Advance Auto Parts How can we help you with your purchase? Yankee Candle Company Is it something we said… TigerDirect.com You Left Something at Tiger… Smarthome Youve left items in your cart! Smarthome You still have items in your cart! Smarthome Your cart is gathering dust! Smarthome Only 24 hours left to use your cart! Smarthome Your cart items are getting lonely! SmartPak Canine A reminder from SmartPak Canine SmartPak Equine Did you forget something? Soft Surroundings Good News! Your Shopping Bag is Still Available Spalook.com Forget Something From Your Bag? DEMCO.com Courtesy Reminder DEMCO.com Important Notice DEMCO.com Special Offer for You
  • Subject line considerations/best practices Be helpful Include incentives when applicable Be positive Don’t make them guess Create a sense of urgency Test, test and test
  • Summary / Takeaways… Just get started – don’t try to boil the ocean Series, better than single email Test timing, but early can be key Use incentives carefully, later in series Take a helpful, human approach with content/copy Test and optimize over time
  • 13. Your questions here____________________________________________________ ________________?
  • Q & A / Contact InformationLisa Moling Loren McDonaldlisam@demco.com Twitter: @LorenMcDonald lmcdonald@silverpop.com Google+: Loren McDonaldTwitter: @Silverpopwww.slideshare.net/silverpopwww.silverpop.com
  • 14. What is it and why doconsumers abandon carts?
  • What is cart abandonment?
  • Top 5: Why visitors abandon shopping carts #1 Price #2 Not ready to buyPotential solutions:1. Tune the shopping cart process2. RemarketNone of the top 5 reasons for abandonment can be addressed by tuning theconversion process Source: SeeWhy
  • 15. How big is the challenge / opportunity?
  • 87% of consumers abandon carts…75% say they will return to complete the purchase. Source: Amaze/University of Glasgow
  • Abandoned Carts, Lost RevenueUp to 70% of Shopping Carts are Abandoned before Checkout ―60–70%‖ — Multiple Sources 57
  • Cart Abandonment: 1-step from revenue Sent Delivered Opened Clicked Product Views Cart Additions Checkouts Orders Revenue Units
  • 16. Are we the only company NOT deploying cart recovery emails?
  • Do you deploy cart recovery emails?Still quite a few who have not deployed this email remarketing technique.
  • 17. What are the typical costs involved in setting up a cart recovery program?
  • Costs - $ and resources Email service provider - startup Integration costs between ESP & Adobe Site Catalyst Email design Promotional cost (margins) Programming – data feeds Set-up of triggered campaigns
  • 18. Are there things other than abandonment that we can trigger a cart email off of?
  • Sample Cart Abandonment Types Recency Price Cart Change Expiration Product Availability
  • 19. Don’t consumers game the system?
  • What about gaming the system? It isn’t a big issue You can suppress gamers Most marketers will take the revenue regardless
  • 20. What are some of thebusiness rules and exceptions we need to be aware of?
  • Sample Rules and Lessons learned… Price minimum Suppress frequent abandoners Suppress after purchase Other abandons, not just via email Add an opt-out flag for abandoned carts only Don’t say “we’re going to empty your cart!”
  • 21. What kind of reports can I see for cart recovery in SiteCatalyst?
  • Integrated Email Data Looks Like ThisEmail campaign data from partner With site conversion data from SiteCatalyst• Campaign Attributes  Revenue• Opens  Orders• Bounces• Click-through  Conversion Rate  Average Order Value, etc. Email Campaign Site Conversion Metrics Metrics