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Cart Abandonment Masterclass - Email Marketing Strategy

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ADVANCED TACTICS FOR A FULL-FUNNEL TRIGGERED EMAIL PROGRAM
You’ve set up a cart abandonment series, now what? For most retailers, 95% of their email revenue still comes from daily marketing emails. We’ll discuss how you can decrease your reliance on batch-and-blast by exploring ways to increase your abandonment email reach, and scaling your trigger events beyond just abandonment.

Published in: Retail
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Cart Abandonment Masterclass - Email Marketing Strategy

  1. 1. 9:30 - 9:45 am PT 11 - 11:45 am PT TINUITI PRESENTS: BUILD A CART ABANDONMENT RECOVERY STRATEGY VIA SOCIAL ADS Today’s Timeline 10 - 10:45 am PT 1 - 1:45 pm PT12 - 12:45 pm PT TINUITI PRESENTS: CART ABANDONMENT STRATEGIES TO CLOSE THE FUNNEL TINUITI PRESENTS: IMPORTANCE OF AN INTEGRATED MEDIA STRATEGY VWO PRESENTS: OPTIMIZING THE POST-CLICK EXPERIENCE TO IMPROVE CHECKOUT RATE BOUNCEX PRESENTS: ADVANCED TACTICS FOR A FULL-FUNNEL TRIGGERED EMAIL PROGRAM
  2. 2. Today’s Logistics ● Session recording and slides will be sent ● Submit questions to our panelists ● Join in on our poll questions throughout ● Resources available as handouts Analicia Santaella Partner Coordinator
  3. 3. Today’s Speakers Kris Mobayeni AVP of Marketing | Digital, Brand, & Content
  4. 4. CONFIDENTIAL | DO NOT DISTRIBUTE Advanced Tactics for a Full-Funnel Triggered Email Program May 22, 2019
  5. 5. 6CONFIDENTIAL | DO NOT DISTRIBUTE Today we’ll cover 1. Some industry benchmarks 2. Identify the revenue opportunity 3. Steps to maximize performance 4. Additional triggers to move up funnel
  6. 6. Quick Poll This is the place for subtitle 01
  7. 7. 2CONFIDENTIAL | DO NOT DISTRIBUTE Are you currently running a cart abandonment program?
  8. 8. 2CONFIDENTIAL | DO NOT DISTRIBUTE What percentage of your total digital revenue comes from abandonment emails?
  9. 9. Every retailer here can make their abandonment program: 10CONFIDENTIAL | DO NOT DISTRIBUTE 1. Their top remarketing channel 2. A top-five revenue channel overall
  10. 10. Industry Benchmarks Let’s review some key metrics 02
  11. 11. Batch and blast emails vs. abandonment emails Performance Comparison 12CONFIDENTIAL | DO NOT DISTRIBUTE Batch & Blast Abandonment Emails Open Rates13.9% 29.92% Click Rates9.78% 20.96% Conversion Rates2.71% 11.11% Revenue Per Send$0.04 $0.95 *Data observed across hundreds of BounceX retail clients
  12. 12. Batch and blast emails vs. abandonment emails Performance Comparison 13CONFIDENTIAL | DO NOT DISTRIBUTE Batch & Blast Abandonment Emails Open Rates13.9% 29.92% Click Rates9.78% 20.96% Conversion Rates2.71% 11.11% Revenue Per Send$0.04 $0.95 2.2x 2.1x 4.1x 24x *Data observed across hundreds of BounceX retail clients
  13. 13. 2CONFIDENTIAL | DO NOT DISTRIBUTE However....
  14. 14. Triggered emails make up a fraction of the typical retailer’s email program, and less than 1% of their overall revenue. 15CONFIDENTIAL | DO NOT DISTRIBUTE
  15. 15. Identifying the Opportunity What are the levers to boost revenue? 03
  16. 16. 2CONFIDENTIAL | DO NOT DISTRIBUTE Let’s try a thought exercise
  17. 17. 18CONFIDENTIAL | DO NOT DISTRIBUTE CART ABANDONERS 800K EMAILS TRIGGERED 40K EMAIL CONVERSION 1.3% AOV $100 REVENUE $52K 10M (traffic) x 10% (add to cart rate) x 80% (remaining traffic that hasn’t already bought) 30% (Open Rate) x 40% (CTR) x 11% (Triggered Email Conversion Rate) 5% identification rate
  18. 18. The conversion fallacy 19CONFIDENTIAL | DO NOT DISTRIBUTE
  19. 19. The conversion fallacy 20CONFIDENTIAL | DO NOT DISTRIBUTE
  20. 20. 21CONFIDENTIAL | DO NOT DISTRIBUTE Drive More Traffic Convert More Traffic Two paths to digital revenue
  21. 21. 22CONFIDENTIAL | DO NOT DISTRIBUTE Limited eligibility limits performance Current send pool
  22. 22. 23CONFIDENTIAL | DO NOT DISTRIBUTE Poor eligibility limits performance Current send pool Potential send pool
  23. 23. 24CONFIDENTIAL | DO NOT DISTRIBUTE CART ABANDONERS 800K EMAILS TRIGGERED 40K EMAIL CONVERSION 1.3% AOV $100 REVENUE $52K
  24. 24. 25CONFIDENTIAL | DO NOT DISTRIBUTE CART ABANDONERS 800K EMAILS TRIGGERED 40K EMAIL CONVERSION 1.3% AOV $100 REVENUE $52K 30%
  25. 25. 26CONFIDENTIAL | DO NOT DISTRIBUTE CART ABANDONERS 800K EMAILS TRIGGERED 40K EMAIL CONVERSION 1.7% AOV $100 REVENUE $68K 30%
  26. 26. 27CONFIDENTIAL | DO NOT DISTRIBUTE CART ABANDONERS 800K EMAILS TRIGGERED 40K EMAIL CONVERSION 1.3% AOV $100 REVENUE $52K
  27. 27. 28CONFIDENTIAL | DO NOT DISTRIBUTE CART ABANDONERS 800K IDENTIFICATION RATE 5% EMAIL CONVERSION 1.3% AOV $100 REVENUE $52K
  28. 28. 29CONFIDENTIAL | DO NOT DISTRIBUTE CART ABANDONERS 800K IDENTIFICATION RATE 15% EMAIL CONVERSION 1.3% AOV $100 REVENUE $156K
  29. 29. 30CONFIDENTIAL | DO NOT DISTRIBUTE CART ABANDONERS 800K IDENTIFICATION RATE 40% EMAIL CONVERSION 1.3% AOV $100 REVENUE $416K
  30. 30. 31CONFIDENTIAL | DO NOT DISTRIBUTE CART ABANDONERS 800K IDENTIFICATION RATE 100% EMAIL CONVERSION 1.3% AOV $100 REVENUE $1.1M
  31. 31. 2CONFIDENTIAL | DO NOT DISTRIBUTE So what’s the point?
  32. 32. 33CONFIDENTIAL | DO NOT DISTRIBUTE CART ABANDONERS 800K IDENTIFICATION RATE 100% EMAIL CONVERSION 1.7% AOV $100 REVENUE $68K CART ABANDONERS 800K IDENTIFICATION RATE 40% EMAIL CONVERSION 1.3% AOV $100 REVENUE $416K Increase conversion rate by 30% Increase identification rate by 7x
  33. 33. Boosting Identification04
  34. 34. 2CONFIDENTIAL | DO NOT DISTRIBUTE 1. Scale and diversify email capture strategy
  35. 35. 36CONFIDENTIAL | DO NOT DISTRIBUTE High-intent captures
  36. 36. 37CONFIDENTIAL | DO NOT DISTRIBUTE Captures at drop-off points
  37. 37. 2CONFIDENTIAL | DO NOT DISTRIBUTE 2. Maintain first-party cookie identification
  38. 38. Maintaining identity 39CONFIDENTIAL | DO NOT DISTRIBUTE 1. Leverage ESP/CRM/CDP cookie 2. Maximize lifetime of cookie (at least 1 year) 3. Stop reliance on logins and repeat opt-ins
  39. 39. 2CONFIDENTIAL | DO NOT DISTRIBUTE 3. Scale using identity resolution
  40. 40. Scaling with identity resolution 41CONFIDENTIAL | DO NOT DISTRIBUTE 1. Recognize existing contacts without repeat opt-in 2. Target offline contacts 3. Maintain eligibility across multiple/new devices
  41. 41. Moving Up-Funnel05
  42. 42. Product Feed Modules 43CONFIDENTIAL | DO NOT DISTRIBUTE ● Trigger on product change events ○ Price Drop ○ Low Stock ○ Back In Stock ○ Etc. ● Target abandoners months after a session (instead of days) ● Begin new purchase journeys
  43. 43. Discovery Modules 44CONFIDENTIAL | DO NOT DISTRIBUTE ● Generate automated emails with recommend products based on past shopping behavior ● Replace generic daily marketing emails with relevant 1-to-1 emails ● Reduce reliance on discounts and sales ● Open bandwidth within internal resources
  44. 44. Want to learn more about the impact of identity on marketing performance? kris@bouncex.com
  45. 45. Q & A Kris Mobayeni AVP of Marketing | Digital, Brand, & Content
  46. 46. 9:30 - 9:45 am PT TINUITI PRESENTS: CART ABANDONMENT STRATEGIES TO CLOSE THE FUNNEL 11 - 11:45 am PT Today’s Timeline 10 - 10:45 am PT 1 - 1:45 pm PT12 - 12:45 pm PT TINUITI PRESENTS: IMPORTANCE OF AN INTEGRATED MEDIA STRATEGY VWO PRESENTS: OPTIMIZING THE POST-CLICK EXPERIENCE TO IMPROVE CHECKOUT RATE BOUNCEX PRESENTS: ADVANCED TACTICS FOR A FULL-FUNNEL TRIGGERED EMAIL PROGRAM TINUITI PRESENTS: BUILD A CART ABANDONMENT RECOVERY STRATEGY VIA SOCIAL ADS
  47. 47. Please hold for our next presentation starting at 12pm PT / 3pm ET VWO PRESENTS: OPTIMIZING THE POST-CLICK EXPERIENCE TO IMPROVE CHECKOUT RATE

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