Automated Shopping Cart Abandonment: Using Email to Recapture Lost Sales<br />Ross Kramer, Listrak<br />
Why are we here today?<br />60 – 75% of shoppers on <br />your eCommerce site<br />Abandon<br />
What does this mean?<br />
What does this mean?<br />Most Abandons Happen Here<br />
What’s my abandonment rate?<br />
Funnel Visualization<br />
What To Do?<br />web site behavior <br />+<br />triggered email marketing<br />=<br />massive ROI <br />
MoviesUnlimited.com<br />600,000 monthly unique visitors<br />37,000 carts created<br />27,952 shoppersabandoned<br />3,00...
Web Analytics<br />11% Email Capture <br />+<br />11% - 30% Conversion Rate<br />=<br />300 recovered orders per month<br />
Shopper Abandons Cart<br />Wait 3 Hours<br />1st Message<br />Wait 2 Days<br />2nd<br />Message<br />Upon purchase shopper...
Shopper Abandons Cart<br />Wait 24 Hours<br />1st Message<br />Wait 5 Days<br />
MoviesUnlimited.com Strategy<br /><ul><li>Offer vs. non-offer testing
Campaign timing testing - 1 Hour / 6 Hour / 24 Hour delay
Multiple follow-up messages
Items displayed in HTML email</li></li></ul><li>
Shopping Cart Abandonment<br />Email Remarketing Best Practices<br />Leverage data for maximum campaign ROI<br />Optimize ...
Data Driven Approach<br />Data Driven Approach<br />INSIGHTS<br /><ul><li>Cart Amount
Past Purchaser (Y/N)
Days since last purchase
Spend - 1YR
Spend - 2YR
Spend - 3YR
Spend - Lifetime
RFM score</li></ul>OUTCOMES<br /><ul><li>Increase AOV
Margin Optimization
Maximize re-engagement
Promote brand loyalty</li></li></ul><li>Best Practice: Campaign Design<br />Understand behavior and intentDetect Stage of ...
Billing page abandonment</li></ul>OUTCOMES<br /><ul><li>Shipping offer
eBillMe, Credit Card offer</li></li></ul><li>Campaign Timing<br />
Campaign Timing<br />Shopper Abandons Cart<br />Wait 3 Hours<br />1st Message<br />Wait 2 Days<br />2nd<br />Message<br />...
1 hour wait has higher CTR, 6 hour wait has a higher AOV
Send a series of emails – not just one!
Shorten the delay from one message to next if shopper clicks but does not convert</li></li></ul><li>Why wait?<br />Effect ...
Promotion & Margin Optimization<br />Campaign Promotion Concepts<br /><ul><li>Promotions should be used to drive demand, d...
Use single-use coupons if possible
Test using promotion in second series email
Test discount ladder concept as latency increases
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Automated Shopping Cart Abandonment - Ross Kramer, Listrak

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  • &gt; Connect Web Site Behavior and Email MarketingEd: Perhaps here you can give your reaction as a retailer to this stat – did you find this high, low? Was it a shock? How does it compare to your catalog business?
  • Common reasons for cart abandonment:Hidden charges at checkoutHaving to register before buyingComparison shoppingLooking for a coupon code at a coupon siteShipping costs too highCheckout process too longED: Perhaps you can explain your checkout process as well as shipping options and some of the inherent challenges with getting people to complete a purchase.
  • Ed will set Ross up for this slide.
  • Ross will handle this slide.Essentially there are a number of good vendors who can help you understand your abandonment rate.
  • Ross will handle this slide.
  • Ross will handle this slide.
  • Ross will handle this slide.11% / 11%11% Email Capture (3,000)11% Conversion Rate (300 Orders)
  • Ross will handle this slide.
  • ED:Perhaps you can describe the email itself – ie, your thoughts on the promotion (is it something you use everyday?) also, you can point out that we’re putting the boxcovers in the email which has shown in increase conversions.
  • Ross will handle this slide.ED – once you have it setup it doesn’t cost anything…..
  • Shopping Cart Abandonment program accounted for 10% of all email marketing revenue; while representing less than 1% of overall email volume
  • 24 Hour – 12%1 Hour Wait - 30%6 Hour Wait - 26%
  • $10 off versus 10% off
  • $10 off versus 10% off
  • Ross will handle this slide.ED – There is a $25 min order….
  • $10 off versus 10% off
  • 33% Open Rate12% Click Thru Rate…after a 3 day wait.
  • $10 off versus 10% off
  • $10 off versus 10% off
  • ED – I think you and I can banter back and forth on this. I can ask you … “did you receive many calls to your call center?” “since the offer seems to be so effective do you care that a small number of saavy shoppers might try to game the system?” etc.
  • Ross will handle this slide.
  • Automated Shopping Cart Abandonment - Ross Kramer, Listrak

    1. 1. Automated Shopping Cart Abandonment: Using Email to Recapture Lost Sales<br />Ross Kramer, Listrak<br />
    2. 2. Why are we here today?<br />60 – 75% of shoppers on <br />your eCommerce site<br />Abandon<br />
    3. 3. What does this mean?<br />
    4. 4. What does this mean?<br />Most Abandons Happen Here<br />
    5. 5. What’s my abandonment rate?<br />
    6. 6. Funnel Visualization<br />
    7. 7. What To Do?<br />web site behavior <br />+<br />triggered email marketing<br />=<br />massive ROI <br />
    8. 8. MoviesUnlimited.com<br />600,000 monthly unique visitors<br />37,000 carts created<br />27,952 shoppersabandoned<br />3,000 emails captured<br />11% email capture<br />
    9. 9. Web Analytics<br />11% Email Capture <br />+<br />11% - 30% Conversion Rate<br />=<br />300 recovered orders per month<br />
    10. 10. Shopper Abandons Cart<br />Wait 3 Hours<br />1st Message<br />Wait 2 Days<br />2nd<br />Message<br />Upon purchase shopper is removed from campaign<br />
    11. 11. Shopper Abandons Cart<br />Wait 24 Hours<br />1st Message<br />Wait 5 Days<br />
    12. 12. MoviesUnlimited.com Strategy<br /><ul><li>Offer vs. non-offer testing
    13. 13. Campaign timing testing - 1 Hour / 6 Hour / 24 Hour delay
    14. 14. Multiple follow-up messages
    15. 15. Items displayed in HTML email</li></li></ul><li>
    16. 16. Shopping Cart Abandonment<br />Email Remarketing Best Practices<br />Leverage data for maximum campaign ROI<br />Optimize campaign timing<br />Manage content assets for best user experience<br />
    17. 17. Data Driven Approach<br />Data Driven Approach<br />INSIGHTS<br /><ul><li>Cart Amount
    18. 18. Past Purchaser (Y/N)
    19. 19. Days since last purchase
    20. 20. Spend - 1YR
    21. 21. Spend - 2YR
    22. 22. Spend - 3YR
    23. 23. Spend - Lifetime
    24. 24. RFM score</li></ul>OUTCOMES<br /><ul><li>Increase AOV
    25. 25. Margin Optimization
    26. 26. Maximize re-engagement
    27. 27. Promote brand loyalty</li></li></ul><li>Best Practice: Campaign Design<br />Understand behavior and intentDetect Stage of Cart Abandonment<br />INSIGHTS<br /><ul><li>Shipping page abandonment
    28. 28. Billing page abandonment</li></ul>OUTCOMES<br /><ul><li>Shipping offer
    29. 29. eBillMe, Credit Card offer</li></li></ul><li>Campaign Timing<br />
    30. 30. Campaign Timing<br />Shopper Abandons Cart<br />Wait 3 Hours<br />1st Message<br />Wait 2 Days<br />2nd<br />Message<br />Best Practices<br /><ul><li>Best conversion rates are seen as close to abandonment as possible
    31. 31. 1 hour wait has higher CTR, 6 hour wait has a higher AOV
    32. 32. Send a series of emails – not just one!
    33. 33. Shorten the delay from one message to next if shopper clicks but does not convert</li></li></ul><li>Why wait?<br />Effect of reminder email timing on conversion rate<br />
    34. 34. Promotion & Margin Optimization<br />Campaign Promotion Concepts<br /><ul><li>Promotions should be used to drive demand, don’t forget to test hold-back
    35. 35. Use single-use coupons if possible
    36. 36. Test using promotion in second series email
    37. 37. Test discount ladder concept as latency increases
    38. 38. First Email: No promotion
    39. 39. Second Email: $5 off
    40. 40. Third Email: $10 off
    41. 41. Test promotions that increase AOV</li></ul>blog.minethatdata.com<br />
    42. 42. Promotion & Margin Optimization Testing<br />Campaign Success<br />Movies Unlimited Promotion<br />$5 off $25<br />
    43. 43. Offer drove<br />26% more orders<br />SCA Program<br />had 27.7% higher AOV than normal website<br />Offer drove 37% more products ordered<br />
    44. 44. “Judie”Past Purchaser: Y<br />Days Since Last Purchase: 23<br />1YR$: $1,200.00<br />No Offer<br />“Linda”<br />Past Purchaser: N<br />Days Since Last Purchase: null<br />1YR$: $0.00<br />Offer<br />
    45. 45. Content Best Practices<br />Content Concepts<br /><ul><li>Pictures of products</li></ul>Source: Listrak 2nd Annual Shopping Cart Abandonment Study<br />
    46. 46. Content Best Practices<br />Source: Listrak 2nd Annual Shopping Cart Abandonment Study<br />
    47. 47. Content Best Practices<br />Content Concepts<br /><ul><li>Recommended products
    48. 48. Leverage an asset you might already own
    49. 49. Certona, Baynote, RichRelevance, etc.</li></li></ul><li>Certona IntegrationContent rendered by<br />Certona’s Resonance Image Server<br />
    50. 50. Easy Idea!Hard-code block of content based on best sellers<br />Source: Listrak 2nd Annual Shopping Cart Abandonment Study<br />
    51. 51. Content Best Practices<br />Content Concepts<br /><ul><li>Available in store
    52. 52. Find your nearest store CTA
    53. 53. Video
    54. 54. Safety and Security
    55. 55. Shop with confidence
    56. 56. Ratings and Reviews</li></li></ul><li>Social Proof: Ratings & Reviews<br />Case in Point: Vintage Tub & Bath<br /><ul><li>IR500 Retailer
    57. 57. Bazaarvoicecustomer since 2006
    58. 58. 12,500 parent SKU's
    59. 59. 1,887 reviews
    60. 60. Over 86% of reviews have a 4 star rating or better</li></li></ul><li>
    61. 61.
    62. 62. Social Proof: Ratings & Reviews<br />Review Criteria<br /><ul><li>Approved reviews only
    63. 63. 4 (out of 5) star reviews only
    64. 64. “Featured Reviews” and reviews from “Top Reviewers” given priority display</li></li></ul><li>
    65. 65. Management Concerns<br />Savvy Users Might “Game the System”<br /><ul><li>Do you even care?
    66. 66. Randomize offers
    67. 67. Suppress offer for 90 days to individual shoppers</li></ul>Multi-Channel Retail<br /><ul><li>Promotions / messaging need to be in sync between channels
    68. 68. Consider ROPO effect</li></ul>Call Center Orders Might Need Extra Help<br /><ul><li>Inform call center of abandon cart shoppers</li></li></ul><li>Closing Thoughts<br /><ul><li>Know your abandonment rate
    69. 69. Leverage data for maximum campaign ROI
    70. 70. Optimize campaign timing
    71. 71. Manage content assets for best user experience
    72. 72. Test timing of your triggered messages
    73. 73. Test number of messages sent
    74. 74. Test different offers
    75. 75. Add value – don’t just sell
    76. 76. Get it up and running … ASAP!</li></li></ul><li>Questions<br />

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