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Shopping Cart Abandonment - 12 Tips to Improve Online Sales Conversions

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Learn the essentials of shopping cart abandonment, learn how to compute your the abandonment rate for your ecommerce site and gain valuable insights for increase conversion through web site ...

Learn the essentials of shopping cart abandonment, learn how to compute your the abandonment rate for your ecommerce site and gain valuable insights for increase conversion through web site optimization and email retargeting.

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Shopping Cart Abandonment - 12 Tips to Improve Online Sales Conversions Shopping Cart Abandonment - 12 Tips to Improve Online Sales Conversions Presentation Transcript

  • Automated Shopping Cart Abandonment: Using Email to Recapture Lost Sales
    • Why you need it
    • How to do it
    • When to send it
    • And 12 ways to increase conversions
  • email info@listrak.com web www.listrak.com twitter @listrak phone 877.362.4556 50-75% of your online customers abandon their shopping carts
  • Why shoppers abandon carts email info@listrak.com web www.listrak.com twitter @listrak phone 877.362.4556 High shipping rates disclosed late in the check-out process
  • Why shoppers abandon carts email info@listrak.com web www.listrak.com twitter @listrak phone 877.362.4556 Slow delivery schedules
  • Why shoppers abandon carts email info@listrak.com web www.listrak.com twitter @listrak phone 877.362.4556 Worried about online security
  • Why shoppers abandon carts email info@listrak.com web www.listrak.com twitter @listrak phone 877.362.4556 Customer service reps aren’t available
  • email info@listrak.com web www.listrak.com twitter @listrak phone 877.362.4556 US online retailers are losing $18B annually from abandoned carts...
  • … yet less than half monitor revenue loss and less than 15% have a way to recoup the sales email info@listrak.com web www.listrak.com twitter @listrak phone 877.362.4556
  • Listrak surveyed 200 US online retailers and found… email info@listrak.com web www.listrak.com twitter @listrak phone 877.362.4556 www.listrak.com/News/cart-abandonment-survey
    • 58.5% don’t monitor abandonment rates and revenue loss
    • Only 14.5% have a shopping cart abandonment solution in place
    • Average site conversion is only 1-2%
  • Automated shopping cart abandonment email solutions will recoup lost revenue email info@listrak.com web www.listrak.com twitter @listrak phone 877.362.4556
    • Our clients are seeing:
    • 500% campaign ROI
    • 20% conversion rates
    • 27.7% higher average order value
    • 26% higher conversion rates than promotional email campaigns
    Case study ahead >
  • Listrak’s Shopping Cart Abandonment Revenue Calculator email info@listrak.com web www.listrak.com twitter @listrak phone 877.362.4556
  • An automated shopping cart abandonment solution will recapture lost sales, increase average order values, and engage customers – here’s how… email info@listrak.com web www.listrak.com twitter @listrak phone 877.362.4556
  • Listrak Customer Case Study Movies Unlimited email info@listrak.com web www.listrak.com twitter @listrak phone 877.362.4556
      • 600,000 monthly unique visitors
      • 37,000 carts created monthly
      • 75% abandonment rate (27,952 carts)
      • 3000 emails captured
      • 20% conversion = 600 orders
  • As shopper types information it’s shipped to Listrak Movies Unlimited Case Study How it works email info@listrak.com web www.listrak.com twitter @listrak phone 877.362.4556 Listrak JavaScript Tag
  • Listrak does not collect sensitive payment information Movies Unlimited Case Study How it works email info@listrak.com web www.listrak.com twitter @listrak phone 877.362.4556 Listrak JavaScript Tag
  • Movies Unlimited Case Study How it works email info@listrak.com web www.listrak.com twitter @listrak phone 877.362.4556 Listrak processes and discards completed checkouts Listrak JavaScript Tag
  • Movies Unlimited Case Study Triggered Shopping Cart Abandonment Email Campaigns email info@listrak.com web www.listrak.com twitter @listrak phone 877.362.4556 Upon purchase shopper is removed from campaign
  • Movies Unlimited Case Study Tested several factors email info@listrak.com web www.listrak.com twitter @listrak phone 877.362.4556
      • Timing of first message
        • 6 hours vs 24 hours
      • Number and cadence of messages
      • Subject lines
      • Offer vs non-offer
      • HTML message showing items left in cart vs plain text message
  • Movies Unlimited Case Study Subject Line & Offer vs Non-Offer Results email info@listrak.com web www.listrak.com twitter @listrak phone 877.362.4556 Open Rate Read Rate Click Thru Rate Conversion Rate 1 Your movies are waiting for you, <<FirstName>> 42.4% 41.4% 25.2% 10.45% 1 Save $5.00 On Your Order, <<FirstName>> 35.1% 33.9% 21.1% 11.38% 2 Speedy checkout for the movies you saved, <<FirstName>> 25.9% 23.9% 12.3% 9.09% 2 Speedy checkout + $5.00 savings for your order, <<FirstName>> 24.5% 22.8% 12.7% 9.63% 3 We're saving your movies for you, <<FirstName>> 71.5% 68.1% 36.2% 24.49% 3 Here's a $5.00 coupon for your order, <<FirstName>> 73.2% 70.5% 43.7% 12.70%
  • Movies Unlimited Case Study Offer Results email info@listrak.com web www.listrak.com twitter @listrak phone 877.362.4556 Offer drove 26% More Orders SCA program had 27.7% higher AOV than website Offer drove 37% more products ordered
  • Movies Unlimited Case Study Final Outcomes email info@listrak.com web www.listrak.com twitter @listrak phone 877.362.4556
    • Shopping Cart Abandonment program accounted for 10% of all email marketing revenue while representing less than 1% of overall email volume
    • 25% Click Thru Rate
    • 20% Conversion Rate
    • Program paid for itself in the first month
  • email info@listrak.com web www.listrak.com twitter @listrak phone 877.362.4556 Triggered shopping cart abandonment campaigns: When to send Movies Unlimited increased conversions from 13% to 20% by sending first email 6 hours after abandonment opposed to 24 hours Results of McAfee's &quot;Digital Window Shopping: The Long Journey to Buy&quot; report
  • email info@listrak.com web www.listrak.com twitter @listrak phone 877.362.4556 Triggered shopping cart abandonment campaigns: What to send
    • A reminder that the shoppers left items in their carts
    • Pictures of the items left in the cart and links to product reviews
    • An easy way to complete the purchase
  • email info@listrak.com web www.listrak.com twitter @listrak phone 877.362.4556 Triggered shopping cart abandonment campaigns: What to send
    • An easy way to contact customer service to complete the purchase
    • Alternative payment information
    • Product reviews
  • email info@listrak.com web www.listrak.com twitter @listrak phone 877.362.4556 Triggered shopping cart abandonment campaigns: What to send
    • Personalization, including the shopper’s name
    • An unsub link that allows recipients to opt-out of SCA campaign without unsubscribing from list
  • email info@listrak.com web www.listrak.com twitter @listrak phone 877.362.4556 Triggered shopping cart abandonment campaigns: What to send
    • Scarcity clauses stating that the cart will expire soon or the inventory levels are low
  • email info@listrak.com web www.listrak.com twitter @listrak phone 877.362.4556 Triggered shopping cart abandonment campaigns: What to send
    • A simple prompt to complete the purchase
  • email info@listrak.com web www.listrak.com twitter @listrak phone 877.362.4556 Triggered shopping cart abandonment campaigns: What to send
    • An incentive to complete the purchase
  • email info@listrak.com web www.listrak.com twitter @listrak phone 877.362.4556 Triggered shopping cart abandonment campaigns: What to send
    • Related items for cross-sell and upsell opportunities
  • Listrak surveyed 398 of the Internet Retailer 500 and found email info@listrak.com web www.listrak.com twitter @listrak phone 877.362.4556
    • Only 42 sites (10.5%) sent a shopping cart abandonment email
    • 19 of the 42 offered an incentive = 45.23%
    • 10 of the 19 involved free shipping w/ no purchase minimum = 52.63%
    • 6 of those 10 were also personalized = 60.00%
    • 4 programs sent an email within 1 hour = 9.52%
    • 7 programs sent after 1 hour and up to 24 hours = 16.67%
    • 14 programs sent after 24 hours and up to 72 hours = 33.33%
    • 17 programs sent after 72 hours = 40.48%
  • email info@listrak.com web www.listrak.com twitter @listrak phone 877.362.4556 877.362.4556 [email_address] Twitter: @listrak Or download free shopping cart abandonment whitepapers and case studies at www.listrak.com We’re here to help Contact our experts at