See Why Presentation 8 2010

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See Why Presentation 8 2010

  1. 1. Remarketing Using Email and Social Media with SeeWhy
  2. 2. Introduction The problem & the opportunity Case studies & remarketing emails SeeWhy Conversion Manager Set up and configuration SeeWhy Social Conversion Summary, questions & answers Agenda 2
  3. 3. About SeeWhy Featured by • Founded in 2003, headquartered in Andover, MA • The only real time shopping cart recovery service to follow up in real time via email and social networks • Delivered as a service (SaaS) • Integrated with leading email service providers & social networks • Best practices education • Primary research in ecommerce 3
  4. 4. Fully automated Multi-stage campaigns Real time Email SeeWhy services we’ll present today “2009’s Best of E- Commerce for Web Pros” Real time Drive $ from fans Share with fans friends Social 4
  5. 5. Introduction The problem & the opportunity Case studies & remarketing emails SeeWhy Conversion Manager Set up and configuration SeeWhy Social Conversion Summary, questions & answers Agenda 5
  6. 6. Approximately 70% of conversion processes are abandoned before reaching the end: + Applications + Quotes + Shopping carts + Insurance claims This causes: + Lost revenue + Channel switching (such to phone, or mail which may increase costs for the company) 71% Industry average Source: SeeWhy The problem 6
  7. 7. • 88% of web buyers have abandoned shopping carts – 136m US shoppers in ‘09 • Visitors that abandon shopping carts: – Spend 17% more online than those that don’t – Are 85% more likely to research online to ensure they get the best price Causes and characteristics 7
  8. 8. Top 5: Why visitors abandon shopping carts 8 Potential solutions: 1. Tune the shopping cart process 2. Remarket None of the top 5 reasons for abandonment can be addressed by tuning the conversion process #1 Price #2 Not ready to buy
  9. 9. Real time responses are: + Immediate + Relevant + In sync with customer The real time imperative “It’s all about speed here. The faster you contact the consumer, your chances are dramatically increased.” 1 2 3 4 5 6 7 8 9 10 100 90 80 70 60 50 40 30 20 10 Hours LeadTemperature After just 1 hour, 90% of ecommerce leads go cold 9
  10. 10. Best practices: + ‘Respond immediately. If possible, automate your first message so that it will be sent out within minutes of the abandoned order.’ + Service tone + Multi-phase follow ups + Offers can generate incremental lift What’s best practice for shopping carts? 10 “Utilizing an incentive to recapture abandoned carts has proven to be one of the simplest and most cost-effective email marketing techniques that we have tested.”
  11. 11. • Study by etailing Group of the etail 500, 5/10 • Average follow up time was 6.1 days after the shopping cart was abandoned • 90% of ecommerce teams that don’t follow up want to • Historical barriers to entry – Lack of understanding (52%) – Automation is required (57%) – Too hard Most brands don’t follow up at all Yes 16% No 84% 11
  12. 12. • Getting out of step with the customer – Any delay between the customer actions and the trigger = problems Issues you need to deal with 12 • Returning visitors – Visitors may return to the website by many different routes. Unless you track individual customers you’ll get out of step • Your email is no longer relevant – 90% of ecommerce leads go cold within one hour. Following up days late will annoy the customer • Integration with your email service – Real time integration with email engines can be a painful IT project SeeWhy makes this simple by integrating Tracking and Triggering into one process SeeWhy makes this easy by automatically tracking ALL returning visitors SeeWhy triggers real time follow ups SeeWhy has already done this integration for you
  13. 13. Using Email and Social Media: + Real time + Fully automated + Multi-stage campaigns The SeeWhy solution 13 Get recovery rates up to 10-30%
  14. 14. For a $20m ecommerce company… $127,000 /day $5,000 /hour $46.6 million /year The industry’s best ROI What’s being left on the table? Annual ecommerce revenue (1- Abandonment rate) - Annual ecommerce revenue 20,000,000 1- 70% - 20,000,000 = $46.6 million annually or $127k daily 14 Increase conversion rates with SeeWhy… Percentage Daily $ Amount Annual $ Amount 10 % $ 12,700 $ 4.66 M 20 % $ 25,400 $ 9.32 M 30 % $ 38,100 $ 13.98 M
  15. 15. Introduction The problem & the opportunity Case studies & remarketing emails SeeWhy Conversion Manager Set up and configuration SeeWhy Social Conversion Summary, questions & answers Agenda 15
  16. 16. Guthy-Renker Proactiv: Three step campaign • Payback in less than one week Immediate 23 hrs after 6 days, 23 hours after
  17. 17. Rockler: Single step campaign “It’s worked really well – right out of the gate we’re generating 2% of sales from this one email. I can’t disclose an exact dollar figure for sales generated, but it is a significant number.” Jason Bernloehr, E-Commerce Manager, Rockler • Estimated $1m+ revenue earner • Payback in 9 days
  18. 18. Immediate 23 hrs Multiple follow-ups 6 days, 23 hrs • Tight connection between onsite behavior and email is essential – Simplifies your job dramatically – Ensures your program is always in step with the customer • Intelligent visitor tracking required >> Multi-stage converts more Two or more follow-ups work best + Cadence varies based on: + the site + the time sensitivity of the transaction
  19. 19. Email design considerations >> Max your open rates • Sender persona • Ideally use a person not a dontreply@email.com • Expect replies • Read them! • Make it searchable e.g. • Gaylord.aaron.bronson@gaylord.com • Use a personally relevant subject line • Use the data to personalize the content
  20. 20. • Multiple ways to convert – Easy finish up link – Phone number – Email • Reassurance – Trials – Returns – Warranties – Testimonials – Customer reviews Make it easy to convert 20
  21. 21. Email design tips 21 • Service tone – Service over sales • Personal – Personalized, directly relevant • Emotional connection – With the product abandoned – With the brand – With a person • Strong Call to action – Return to cart / item button • Multiple methods of contact – Phone number – Email address – Link to stores locator
  22. 22. + Three stage follow up campaign + Real time + ~24 hours later + ~7 days later with a promotion Example campaign performance Cumulative conversion Conversion per stage Unsubscribe rate 1 2 3 Lift Stage Conversion Open Rate Revenue / Email 1: Real time 14% 70% $11 2: 24 hours 6% 65% $4 3: 7 days 5% 60% $3 Total 25% Average 65% Average $6 A ecommerce company generating $20m in revenues per annum loses $127k every day due to abandonment 22
  23. 23. Real life performance 23 Customer Segment Market Promotion Recovery rate Order value 1st year recovered revenues 1 Retail Youth and Teen No 9% $50 $6m 2 Retail Middle aged & retirees No 21% $110 $4m 3 Retail All ages Yes 6% $75 $750k 4 Gaming Youth No 13% $7 $250k 5 Software All ages No 37% $35 $1m Average 17% $55 $2.4m
  24. 24. • Generates $0.75m in incremental revenues • 3 stage campaign with a promotion on #3 • The first few hours after the abandonment are critical – $700/hour initially – Falls to $50/hour after 5 days Cart recovery campaign performance 24 Hours elapsed after abandonment Revenuerecoveredperhour #2 sent here #3 sent here #1 sent here
  25. 25. Introduction The problem & the opportunity Case studies & remarketing emails SeeWhy Conversion Manager Set up and configuration SeeWhy Social Conversion Summary, questions & answers Agenda 25
  26. 26. Batch uploadBatch upload; convert sessions to visitors Email follow up sent Campaign logic applied Email system Without real time tracking, it’s complex Website Batch based integration Customer activity here Triggering here Elapsed time ~24 hours later 26 Your webpage Web analytics Ecommerce platform
  27. 27. Multiple follow ups sent Email system The SeeWhy difference makes it easy Synchronized customer activity tracking & triggering here Social Networks Website & SeeWhy 27
  28. 28. Conversion Manager makes remarketing easy Real time • Immediate first follow up • Multi stage, send-time optimization Intelligent • Automatically tracks returning visitors • Synchronizes tracking and triggering in one process Easy • Simple page tag to place on your site • Prepackaged integration with Email Services and Social Networks 28
  29. 29. Real time architecture = immediate follow up Seamless integration with ESP, Social Networks and Ecommerce Platforms Real time trigger Real time data Real time message In development & planned: 29
  30. 30. Introduction The problem & the opportunity Case studies & remarketing emails SeeWhy Conversion Manager Set up and configuration SeeWhy Social Conversion Summary, questions & answers Agenda 30
  31. 31. Detecting abandonment: Shopping cart 31 7 6 5 3 Intent Goal / Sale
  32. 32. Email address not captured here but presumably could be. Funnel Level 3 sent on page load. 7 6 5 3 Intent Goal / Sale Start of tracking: Intent shown
  33. 33. Funnel Level 5 sent on page load. Email address captured. Any abandonment from here on in would trigger a real time email 7 6 5 3 Intent Goal / Sale Email address captured
  34. 34. But, if the purchase is made then a Funnel Level 7 is sent. No email is sent out. Also automatically stops a current running campaign 7 6 5 3 Intent Goal / Sale No email sent: Goal achieved
  35. 35. • Captured live – Captured on entry of the email address as part of the shopping cart or web form process • Account creation / registration / log-in – Captured on entry of the email address • Newsletter sign up /other opt-in – Captured on entry of the email address • From a Facebook account – Captured when the visitor logs into their account on your site • From a cookie – Stored in a cookie from any previous visit where an email address is captured 5 ways to capture email addresses 35
  36. 36. Introduction The problem & the opportunity Case studies & remarketing emails SeeWhy Conversion Manager Set up and configuration SeeWhy Social Conversion Summary, questions & answers Agenda 36
  37. 37. • Real time triggered email messages to the visitors' social network account email address – Facebook: Either the email address, or a proxy e.g. proxy@facebook.com • Top revenue generating message triggers: 1. Abandoned shopping carts reminders 2. Browse based email promotions / following a ‘Like’ but no purchase 3. ‘Thank you’ promotion following a purchase with a promo code to share with their network Social Remarketing Using Facebook ID’s
  38. 38. • What it is – A simple button to allow visitors to log in to your site using their Facebook account – Rebranding of Facebook Connect • How it works – ‘Faces’ show friends who have already logged in – Visitors ‘log in’ = sharing their Facebook credentials with your site • Why it matters – Captures Facebook fans’ email addresses & more – Visitors are 200% more likely to login to your site using their Facebook account – Simple to implement Login with Faces
  39. 39. How 1-to1 social marketing works Log In • Triggers a real time message to be sent to the visitor using their Facebook email address 39
  40. 40. Introduction The problem & the opportunity Case studies & remarketing emails SeeWhy Conversion Manager Set up and configuration SeeWhy Social Conversion Summary, questions & answers Agenda 40
  41. 41. • Deep expertise in remarketing = Highest return – More experience, with more customers, in more sectors – Extensive remarketing education program • Real time technology – Real time response and multi-stage triggers – Intelligent visitor tracking ensures you stay in step • Leverages your environment – Email Service Provider – Social networking integration captures visitors on the homepage SeeWhy’s formula 41
  42. 42. Resources & questions Website conversion blog – http://www.seewhy.com/blog Visit www.seewhy.com – To sign up for the Free Abandonment Tracker – Whitepapers – Link to webinar recordings • Shopping cart recovery best practices • Facebook Social Media Plugins Email us for: – Recording of this briefing – Copies of slides info@seewhy.com http://twitter.com/webconversion 42
  43. 43. Conversion Academy: Top 10 Converting Websites Research report • Lessons learned from the Top 10 Converting Websites – Average visitor-to-sale conversion of 23% (industry average 2-3%) – What they do differently – To get your free copy of the report go to: http://www.seewhy.com/top-ten- converting-websites.htm • Conversion academy recordings on www.seewhy.com 43
  44. 44. Thank you for your interest! SeeWhy Inc 300 Brickstone Square, Andover, MA 01810 Telephone +1 617 502 2077 info@seewhy.com www.seewhy.com Blog: www.seewhy.com/blog Twitter: www.twitter.com/SeeWhyInc Featured by 44

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