More engagement with the engaged visitor - IgnitionOne Lunch & Learn
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More engagement with the engaged visitor - the power of money lost. KEVIN VAN DEN BOSCH
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More engagement with the engaged visitor - IgnitionOne Lunch & Learn
- 1. THE POWER OF MONEY LOST Engaging with cart abandoners pays off P r o p r i e t a r y & C o n f i d e n t i a l 1 Kevin Van den Bosch September, 25th MARKETING TECHNOLOGY. SIMPLIFIED.
- 2. on average 70%of overall cart abandonment rate P r o p r i e t a r y & C o n f i d e n t i a l THE SCENE
- 3. P r o p r i e t a r y & C o n f i d e n t i a l 65 70 72 74 76 80 Health & Beauty Home & Furnishing Style & Fashion Electronics Food & Drinks Travel PER VERTICAL
- 4. WHY DO THEY ABANDON P r o p r i e t a r y & C o n f i d e n t i a l
- 5. P r o p r i e t a r y & C o n f i d e n t i a l 5 WHO ARE THE ABANDONERS Data source: Forrester Research 19% EDUCATION SPEND GENDER
- 6. WHAT IF…NEW VISITORS ABANDON 99% Won’t buy on the first visit. Of those who don’t buy… Abandon to never return 25% 75% Abandon with intent to return P r o p r i e t a r y & C o n f i d e n t i a l
- 7. WHAT IF…RETURNING VISITORS ABANDON P r o p r i e t a r y & C o n f i d e n t i a l 53% 47% 53% won’t return again in the next 28 days 47% will return – out of those 1 in 4 will make a purchase
- 8. P r o p r i e t a r y & C o n f i d e n t i a l SO…
- 9. SMART (ON-SITE) P r o p r i e t a r y & C o n f i d e n t i a l REMARKETING Offer a service to get the sale 9
- 10. P r o p r i e t a r y & C o n f i d e n t i a l 10 HOW DOES IT WORK
- 11. TAKE IT TO THE P r o p r i e t a r y & C o n f i d e n t i a l BANK The flow explained
- 12. P r o p r i e t a r y & C o n f i d e n t i a l 12
- 13. P r o p r i e t a r y & C o n f i d e n t i a l
- 14. P r o p r i e t a r y & C o n f i d e n t i a l
- 15. P r o p r i e t a r y & C o n f i d e n t i a l
- 16. P r o p r i e t a r y & C o n f i d e n t i a l
- 17. CASE STUDY - RETAILER AVERAGE ORDER VALUE 46% 29% +38% P r o p r i e t a r y & C o n f i d e n t i a l OPEN RATE COMPLET E PURCHAS ES
- 18. Give it a try and BOOSTyour returns immediately P r o p r i e t a r y & C o n f i d e n t i a l
- 19. 19 THANK YOU Kevin Van den Bosch Kevin.vandenbosch@ignitionone .com www.ignitionone.com www.digitalmarketingsuite.com @ignitionone
Editor's Notes
- According to the Baymard Institute 67,95% of all filled shopping carts are abandoned. The rate Baymard publishes is a figure compiled of 21 other stats and publications. Some even speak of higher % based on specific sectors
- Cart abandonment rates per sector / vertical
- A survey by WorldPay revealed in 2013 the main reasons for shopping cart abandonment. Many of those reasons are of course pricing related… If we just look at reason 1, 3 and 4 we see they are price related. Although ashtoningly also technical reasons, such as website timeouts and unclear navigation clearly stand out. A common reason however is the fact the reason a consumer is just browsing or not yet ready to purchase… We need to go a bit deaper in the buying process psychology to find those explanations
- Research by Forrester Research revealed an abandoner earns more than the average income, is higher educated (with a college degree) and has been shopping online longer than non-abandoners. More importantly abandoners spend 19% more each year, compared to visitors who don’t abandon. There is also a clear disctinction between men and women. A man is likely to compare prices beforehand and make an informed decision immediately, so he is less likely to abandon. A woman is likely to save products for later and takes longer to buy. They are more sensitive to shipping and handling costs.
- Prospecting wise this is very useful information – when you are attracting new customers and leads to your site - New visitors to the site – 99% won’t buy on the first visit. Of those who leave without buying 245% leave with an intention not to return.. HOWEVER 75% leaves with an intent to return to the site. KEY TAKE AWAY HERE: although most advertisers (+80%) believe that focussing on abandonners is a waste of time and effort .. In truth, 3 out of 4 abandonners has an intent to purchase and will return for one of 2 things: to purchase or abandon again.
- When a visitor comes back to the site and abandons a second time … 53% won’t return in the next 28 days to the merchant site. BUT… 47% will return to the site and 1 in 4 will make a purchase. KEY TAKE AWAY HERE: although we would want to… most visitors don’t buy immediately but require a series of visits and abandons over time while considering to purchase
- A visitor comes to the site and is tracked the moment he lands on the landing page. The IgnitionOne profiling engine starts profiling the customer and his/her behaviour on your website. Our self-learning predictive algorithm calculates the propensity to convert of each individual customer and can intervene when the customer that has put items in the shopping cart and intends to leave the site. Goal is not to scare people away and push them towards the exit as that could deliver a negative / too pushy customer experience. To offer a service and help them out by holding on to their shopping cart can help them to convert later on. The moment they are about to leave (mouse tracking on closing and back button) a popin is shown asking the customer if we can send him his personalised shopping bag contents. He then gets an automated personlised email with the contents of his shopping bag containing a custom link to immediately go back to his shopping bag to complete the pruchase. The goal is to simplify to the customers life and make it easy to find back his abandoned cart to continue with his purchase when ready to buy. A strong benefit of the on-site remarketing is the crossdevice capabilities. Customer can browse on the desktop at work , get the email and open it later on at home on his smartphone or mobile. As the customer comes in via clicking a link in the email we can track crossdevice and still alocate sales to earlier customer journeys and research behaviour.