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Top 5 Ways to Fight Shopping Cart Abandonment


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My International Ecommerce Day talk from last year.

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Top 5 Ways to Fight Shopping Cart Abandonment

  1. 1. 1WordStream Confidential Top 5 Ways to Fight Shopping Cart Abandonment Navah Hopkins 11.03.2016 Copyright 2016 WordStream, Inc. All rights reserved. #InternationalEcommDay
  2. 2. 2WordStream Confidential A Little About Me + WordStream Customer Success – Team Lead #InternationalEcommDay
  3. 3. 3WordStream Confidential We’ll Be Talking About: • Why Does Shopping Cart Abandonment Exist • Cross Ad Medium Messaging • Mobile • Retargeting • The Localization of eComm #InternationalEcommDay
  4. 4. 4WordStream Confidential What Makes People Abandon Shopping Carts? #InternationalEcommDay
  5. 5. 5WordStream Confidential Shopping Cart Abandonment is at 80% Baymard Institute #InternationalEcommDay
  6. 6. 6WordStream Confidential Some Reasons Why • 66% of online consumers abandon their cart because of problems with the payment process. ( #InternationalEcommDay
  7. 7. 7WordStream Confidential • 63% of online consumers said they were more likely to return to a website that offers live chat. ( #InternationalEcommDay
  8. 8. 8WordStream Confidential 57% Won’t Recommend A Retailer With Bad Mobile UI/UX #InternationalEcommDay
  9. 9. 9WordStream Confidential SEM Can Only Send The Leads #InternationalEcommDay
  10. 10. 10WordStream Confidential Let’s Work Magic With What We Can Control #InternationalEcommDay
  11. 11. 11WordStream Confidential Trick #1 Cross Platform Messaging #InternationalEcommDay
  12. 12. 12WordStream Confidential First A Confession: I’m An Avid Witcher Fan #InternationalEcommDay
  13. 13. 13WordStream Confidential So It Stands To Reason I’d Engage With Witcher Merch #InternationalEcommDay
  14. 14. 14WordStream Confidential Alas, They Didn’t Have My Size, So I Bounced No matter how much I love it, it won’t fit…guess it wasn’t meant to be #InternationalEcommDay #InternationalEcommDay
  15. 15. 15WordStream Confidential Within 5 Seconds: On My Facebook Page #InternationalEcommDay
  16. 16. 16WordStream Confidential 85% of orders From Social Media Sites Come From Facebook #InternationalEcommDay
  17. 17. 17WordStream Confidential #1 In Shopping Box #InternationalEcommDay
  18. 18. 18WordStream Confidential Don’t Forget YouTube #InternationalEcommDay
  19. 19. 19WordStream Confidential Even Bing Had Me #InternationalEcommDay
  20. 20. 20WordStream Confidential What Went Right?  Consistent experience: Return visitors are up to 6X more likely to convert, but only if they’re sure they’re in the right place  Contextual placement was great (particular on the youtube video)  The ad followed around at a reasonable pace of impressions. #InternationalEcommDay
  21. 21. 21WordStream Confidential What Went Wrong? • Title is not keyword centric • Price stayed the same/no promos to get me to buy • Missed opportunity to hit me in my Facebook feed. • No accounting for why I didn’t buy in the first place! #InternationalEcommDay
  22. 22. 22WordStream Confidential Trick #2 Owning eComm By Owning Mobile #InternationalEcommDay
  23. 23. 23WordStream Confidential Newsflash: Shopping Gets A Lot of Love On Mobile Credit: Andy Taylor/ #InternationalEcommDay
  24. 24. 24WordStream Confidential Average Click Through Rates Compared to 2015 0.00% 0.20% 0.40% 0.60% 0.80% 1.00% 1.20% 1.40% 1.60% 1.80% Computer Smartphone Tablet Average CTR July2016-Oct2016 July2015-Oct2015 1.64% Data based off of 550 accounts with at least one shopping campaign #InternationalEcommDay
  25. 25. 25WordStream Confidential Average Conversions Compared to 2015 0 20 40 60 80 100 120 140 160 180 200 Computer Smartphone Tablet Average Conversions July2016-Oct2016 July2015-Oct2015 180 Data based off of 550 accounts with at least one shopping campaign. #InternationalEcommDay
  26. 26. 26WordStream Confidential Average Cost Per Acquisition Compared to 2015 $0.00 $5.00 $10.00 $15.00 $20.00 $25.00 $30.00 $35.00 $40.00 Computer Smartphone Tablet Average CPA July2016-Oct2016 July2015-Oct2015 $37 Data based off of 550 accounts with at least one shopping campaign. #InternationalEcommDay
  27. 27. 27WordStream Confidential Mobile Might Be More Expensive, But The Volume Is Clear 70% of online transactions occur on a mobile device. #InternationalEcommDay
  28. 28. 28WordStream Confidential One Reason For This Might Be Price Extensions Behold the Mighty Price Extension! #InternationalEcommDay
  29. 29. 29WordStream Confidential Price Extension’s – The Hybrid Extension With Over 10% CTR The aggregated data in this post is based on a sample of four WordStream client accounts with early beta access to Price Extensions who were advertising on the Google Search Network in May 2016. @navahf #InternationalEcommDay
  30. 30. 30WordStream Confidential Avoid Shopping Cart Abandonment By Accounting for Device #InternationalEcommDay
  31. 31. 31WordStream Confidential Trick #3 The Power of Promos #InternationalEcommDay
  32. 32. 32WordStream Confidential Sales/Coupons Excite people Over 80% of shoppers say they use more than one promotional media type to make purchase decisions. (Market Track) 40% of shoppers prefer receiving discounts on purchases over loyalty program points or a gift basket (Precima) 91% of brand loyal shoppers use coupons (Valassis) #InternationalEcommDay
  33. 33. 33WordStream Confidential Begin with Dynamic Product Ads Characteristics of good Dynamic Product Ads: • Include price (hopefully with some sort of discount) • Include product • Include your brand • Simple design! #InternationalEcommDay
  34. 34. 34WordStream Confidential Your Shopping Ads Mean You Already Have the Feed! #InternationalEcommDay
  35. 35. 35WordStream Confidential Contextual Images Are Powerful #InternationalEcommDay
  36. 36. 36WordStream Confidential Even if I Already Booked, This Is Helpful #InternationalEcommDay
  37. 37. 37WordStream Confidential Out of Place “Images” Are Not #InternationalEcommDay
  38. 38. 38WordStream Confidential Search With Display Select RLSA = Bad Time • Budget should exclusively go to search – display select directs budget towards display campaigns without crafting display ad. • Don’t want to engage with PPC ad on shaving site, no matter how much I love both #InternationalEcommDay
  39. 39. 39WordStream Confidential Trick #4 RLSA/Customer Match #InternationalEcommDay
  40. 40. 40WordStream Confidential Abandoning = You’ve Been Tagged! #InternationalEcommDay
  41. 41. 41WordStream Confidential Retargeting Lists Search Ads(RLSA) For Shopping • Membership has been extended to 540 (display) days! • Catch folks who abandoned you before • One of the most receptive audiences to promos #InternationalEcommDay
  42. 42. 42WordStream Confidential Layering in RLSA Focuses the Budget #InternationalEcommDay
  43. 43. 43WordStream Confidential Customer Match: Use Emails From Promos/Past Orders! #InternationalEcommDay
  44. 44. 44WordStream Confidential New Customer Can Be Up To 6X More Expensive Than Returning Customer Source: invesp #InternationalEcommDay
  45. 45. 45WordStream Confidential Trick #5 Local + eComm #InternationalEcommDay
  46. 46. 46WordStream Confidential 53% of consumers are willing to share their current location to receive more relevant advertising. #InternationalEcommDay
  47. 47. 47WordStream Confidential 62% of consumers share local deals with friends. #InternationalEcommDay
  48. 48. 48WordStream Confidential When Local + Ecomm Meet #InternationalEcommDay
  49. 49. 49WordStream Confidential What’s the Experience Like? #InternationalEcommDay
  50. 50. 50WordStream Confidential Let’s Go Shopping! #InternationalEcommDay
  51. 51. 51WordStream Confidential “In Store” Signals the Local Landing Page #InternationalEcommDay
  52. 52. 52WordStream Confidential What catches your eye? #InternationalEcommDay
  53. 53. 53WordStream Confidential What’s Working Well? #InternationalEcommDay
  54. 54. 54WordStream Confidential What catches your eye? #InternationalEcommDay
  55. 55. 55WordStream Confidential Biggest Risk: I Can’t Convert on That Page! #InternationalEcommDay
  56. 56. 56WordStream Confidential These Are Still in Beta #InternationalEcommDay
  57. 57. 57WordStream Confidential What Did We Learn? #InternationalEcommDay
  58. 58. 58WordStream Confidential Keep messaging consistent across content mediums #InternationalEcommDay
  59. 59. 59WordStream Confidential Own Shopping By Owning Mobile #InternationalEcommDay
  60. 60. 60WordStream Confidential Promos Are the Lifeblood of Shopping #InternationalEcommDay
  61. 61. 61WordStream Confidential Adding Retargeting Through RLSA & Customer Match #InternationalEcommDay
  62. 62. 62WordStream Confidential Bridge the Gap Between Local Retail and eCommerce #InternationalEcommDay
  63. 63. 63WordStream Confidential List of sources outside WordStream Data Sets • Retail’s Main Event: Brick & Mortar vs. Online, RetailNext • Retail’s Impact, National Retail Federation • 13 Alarming Stats About Retail in Digital, Digiday • 15 Holiday Retail Stats That Every Marketer Needs to See, AdWeek • 2014 US Retail Industry Overview, • Hold the Phone: 66% of Time Spent With e-Retail is on Mobile, Internet Retailer • How Proximity Marketing Is Driving Retail Sales, Forbes • 15 Retailer Resources, Stats and Tactics, SnapRetail • Speed of Delivery Is Important for Retail Shoppers, Accenture • Trends in Retail Show US Consumers Plan To Spend More on Holiday Shopping, Accenture • 12 Illuminating eCommerce Stats from January-March 2015, eConsultancy • 5 Ecommerce Stats That Will Make You Change Your Entire Marketing Approach, Kiss Metrics • 40 Amazing Online Shopping And Ecommerce Statistics, Selz • Five 2015 Ecommerce Stats & Trends You Should Know About, PixelMEDIA • 5 Stats Every Ecommerce Business Should Know, Gigya • 7 Statistics About E-Commerce Shoppers That Reveal Why Many Consumer Stereotypes Don’t Apply Online, Business Insider • 13 Startling Customer Service Statistics, Parature • 10 Useful Customer Experience Statistics For Your 2015 Strategy, Neosperience • 38 Powerful Customer Experience Stats for 2015, Christine James of HissingKitty • 10 Statistics from the Online Marketplace Seller Survey, Web Retailer • 12 Retail Trends and Predictions for 2015, Vend HQ • U.S. Social Commerce – Statistics & Trend, AdWeek #InternationalEcommDay
  64. 64. 64WordStream Confidential @navahf #InternationalEcommDay