Automated Shopping Cart Abandonment - Ross Kramer, Listrak
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Automated Shopping Cart Abandonment - Ross Kramer, Listrak
- 1. Automated Shopping Cart Abandonment: Using Email to Recapture Lost Sales Ross Kramer, Listrak
- 2. Why are we here today? 60 – 75% of shoppers on your eCommerce site Abandon
- 3. What does this mean?
- 4. What does this mean? Most Abandons Happen Here
- 5. What’s my abandonment rate?
- 7. What To Do? web site behavior + triggered email marketing = massive ROI
- 8. MoviesUnlimited.com 600,000 monthly unique visitors 37,000 carts created 27,952 shoppersabandoned 3,000 emails captured 11% email capture
- 9. Web Analytics 11% Email Capture + 11% - 30% Conversion Rate = 300 recovered orders per month
- 10. Shopper Abandons Cart Wait 3 Hours 1st Message Wait 2 Days 2nd Message Upon purchase shopper is removed from campaign
- 11. Shopper Abandons Cart Wait 24 Hours 1st Message Wait 5 Days
- 13. Campaign timing testing - 1 Hour / 6 Hour / 24 Hour delay
- 16. Shopping Cart Abandonment Email Remarketing Best Practices Leverage data for maximum campaign ROI Optimize campaign timing Manage content assets for best user experience
- 19. Days since last purchase
- 20. Spend - 1YR
- 21. Spend - 2YR
- 22. Spend - 3YR
- 23. Spend - Lifetime
- 31. 1 hour wait has higher CTR, 6 hour wait has a higher AOV
- 32. Send a series of emails – not just one!
- 35. Use single-use coupons if possible
- 36. Test using promotion in second series email
- 37. Test discount ladder concept as latency increases
- 38. First Email: No promotion
- 39. Second Email: $5 off
- 40. Third Email: $10 off
- 41. Test promotions that increase AOVblog.minethatdata.com
- 42. Promotion & Margin Optimization Testing Campaign Success Movies Unlimited Promotion $5 off $25
- 43. Offer drove 26% more orders SCA Program had 27.7% higher AOV than normal website Offer drove 37% more products ordered
- 44. “Judie”Past Purchaser: Y Days Since Last Purchase: 23 1YR$: $1,200.00 No Offer “Linda” Past Purchaser: N Days Since Last Purchase: null 1YR$: $0.00 Offer
- 46. Content Best Practices Source: Listrak 2nd Annual Shopping Cart Abandonment Study
- 48. Leverage an asset you might already own
- 50. Easy Idea!Hard-code block of content based on best sellers Source: Listrak 2nd Annual Shopping Cart Abandonment Study
- 52. Find your nearest store CTA
- 53. Video
- 59. 1,887 reviews
- 63. 4 (out of 5) star reviews only
- 66. Randomize offers
- 69. Leverage data for maximum campaign ROI
- 71. Manage content assets for best user experience
- 72. Test timing of your triggered messages
- 73. Test number of messages sent
- 75. Add value – don’t just sell
Hinweis der Redaktion
- > 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.