Cart abandonment
 

Cart abandonment

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Discover the powerful stats for abandoned cart emails that prove they work. Learn how to put the campaigns together including: timing, messaging and frequency. Plus, see some real life examples.

Discover the powerful stats for abandoned cart emails that prove they work. Learn how to put the campaigns together including: timing, messaging and frequency. Plus, see some real life examples.

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Cart abandonment Cart abandonment Document Transcript

  • Abandoned Cart Emails:The facts, the data and the how-to.What you will learnDiscover the powerful stats for abandoned cart emails that prove they work. Learn how to putthe campaigns together including: timing, messaging and frequency. Plus, see some real lifeexamples.The factsDefinition: Cart abandonment occurswhen a shopper adds an item to their cart,but does not complete the purchase.According to industry experts, cartabandonment rates range anywhere from60-70%, which coincides with data wehave collected from our own clients whichshow an average of 69% abandonment.Reduce cart abandonment rates with marketing automation. Clients running abandonedcart emails have an 18% lower abandonment rate than those that are not runningthe campaigns. Cart abandonment campaigns also have higher: open rate, click rate,average time spent on website, average purchase value, conversion rate and per visit valuewhen compared to standard emails. PLUS, they have a substantially lower bounce rate.Using internal client data all operating within the same industry, we compared cartabandonment rates of those running abandoned cart campaigns targeting vs. those that werenot running the campaigns. www.whereoware.com 2
  • The dataThe data tells the story. When aggregating Whereoware’s emaildata we found distinct differences between abandoned cart (AC)mailings and normal, blast mailings that go to everyone (SeeAppendix). Open + Click Rate80% Email activity60%40% AC We found a 40% lift in open rates and a 47% lift in click Mailing through rates. This type of uplift would be expected since it is a20% 0% Normal highly targeted email. An abandoned cart email is generally sent just Mailing 1-3 days after the customer visited the site and abandoned their cart. Open Click Rate Rate So the email is both highly relevant and timely. Time on site (engagement)Engagement 10 ACWe found that site engagement increases by almost 28% and Mailingbounce rate decreases 151%; expected stats as these are customers 5 Normalare highly qualified. Mailing 0 Orders Order Conversion Bounce Rate Rate We are capturing 9% of carts that have been 30% abandoned, allowing us to recover revenue that10% AC AC would have otherwise been lost. Compared to 20% Mailing Mailing normal mailings, the order conversion rate 5% increases by 69%. Not surprising, as these 10% Normal Normal Mailing Mailing customers already have items in their cart in 0% which they are interested. More 0% interestingly, the average order value Average Order Value increased by 23%. Not only do they purchase more often, but they also tend to purchase more.$600 AC Based on the data, it is easy to conclude that sending abandoned cart$400 Mailing emails is highly beneficial. What’s not to love? You capture revenue that Normal otherwise would have been lost. Plus those that receive them are more$200 Mailing likely to open and click the email, engage on your site, place orders and $0 order more than those that do not receive the emails. www.whereoware.com 3
  • The how-to So the data says abandoned cart emails work. So how do you implement it? The first thing you need is data. At the minimum, you need to be able to pull users emails who abandon their cart on your website. Ideally, you would also capture additional information, like what they abandoned, when they abandoned and when their cart expires. Use this data to form a segment in your marketing database to which your email will be targeted.Once you have the data settled you will need to decide on a couple of matters: 1. Timing: A general rule of thumb for abandoned cart emails is to send one to three days after cart abandonment. This will vary based on the type of product you are offering, how long you are able to keep items in your cart and your visitors preferences. Of course, the only way to truly know your visitors preferred timing is to test. 2. Messaging: There are a few common types of abandoned cart messages. a. Basic: In the basic abandoned cart email you simply remind your visitors that they left something in their cart and ask if they need any help. Provide a link to complete their transaction and phone numbers, contact pages, or live chat links to answer any questions they may have about the order. Bump it up a notch: If you are able to capture abandoned products, it would be great to include their images and details in the email to remind visitors what they left behind. b. Your Cart is Expiring: Here you can add urgency to the basic messaging encouraging users to purchase their products before the items in their cart are deleted. c. Discount/Offer: You can add an incentive for visitors to complete their order. Warning: It is possible that you may train your visitors to abandon their cart. We recommend avoiding giving discounts unless you can put business rules in place that help avoid training users. 3. Frequency: You may want to send multiple cart abandonment emails, ensuring your visitors don’t forget they left something in their cart. www.whereoware.com 4
  • A Few Examples Basic Message: Simply reminding customers that they left items in their cart can help recapture lost revenue. Basic Message, bumped up: This bumped up basic message still reminds users that they left items in their cart and offers help, but it takes it a step further by reminding users the number of items in the cart, the value and the date they last touched the cart. www.whereoware.com 5
  • Basic Message, bumped up 2: This message takes the basic message, reminding users that they left items in their cart a step further by including an image of the of item left in the cart along with details about the product. * not a Whereoware client Expiring Cart: Here the messaging is applying a sense of urgency by stating the “shopping bag will expire in a few days.”* not a Whereoware client www.whereoware.com 6
  • First time abandoned Discount/Offer Message: Using business rules, we avoid training customers to abandon their cart. Customers only receive the discount the first time the abandon. Second time abandoned www.whereoware.com 7
  • Appendix Average Order Per Open Click Average Bounce Averages Value Conversion Visit Rate Rate Time on Site Rate Spent Rate Value Abandoned Cart 58% 54% 9 minutes 10% $504 9% $41 Mailing Normal Mailing 35*% 28% 6.5 minutes 26% $387 1% $12 Difference 41% 48% 28% -151% 23% 69% 71% *Wheroware normal open rates are higher than industry average due to specific techniques we use. www.whereoware.com 8
  • About WhereowareWhereoware is an online strategy, design, development and marketing company. We recognize each clients needsand objectives as unique. We dive deep into each clients business through consultative assessments and analyticalbenchmarking. We then craft an individual solution for each client. Our solutions are Smart because they solve eachclient’s business problems.Contact us today 505 Huntmar Park Drive Phone: (877) 521-7448 Jay Beutler Suite 200 Fax: (703) 889-1218 Senior sales consultant Herndon, VA 20170 Email: sales@whereoware.com Phone: 701-205-1463 Email: jbeutler@whereoware.com www.whereoware.com 9