cart abandonment email marketing
DESCRIPTION
TRANSCRIPT
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Everything you need to know for cart abandonment email remarketing success
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cart abandonment
Everything you always wanted to
know aboutcart abandonment
emails*
Explained byLisa Moling
Loren McDonald
*BUT WERE AFRAID TO ASK
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Speakers
Loren McDonald, Vice President of Industry Relations, Silverpop
• Leads industry leadership activities including more than 500 articles on email marketing, blogs, educational sessions and Webinars.
• 28 years experience in marketing, consulting and strategic planning with executive level positions at Lyris, EmailLabs, USWeb/CKS and Arthur Andersen.
• eec Marketer of the Year - 2011
Lisa Moling, E-Marketing Manager, DEMCO
• Develop & implement e-marketing programs including email marketing, online promotions, web analysis, paid search, social and CRM
• Over 15 years online and direct marketing experience in diverse industries including tourism, insurance and industrial safety.
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About DEMCO
About DEMCO• Based in Madison, WI• Sell library supplies
– Originally a catalog company– Now web is a primary order source
• B2B, but respond like consumers
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About Silverpop
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Agenda: 5 Categories > 12 Questions
Background
Business Case
Data / Integration
Timing / # of Emails
Creative / Incentives
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- We started with 25+ questions
- Rehearsed with 19
- Cut to 12 for today
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0. Are we cool with what cart recovery is, why you should do
it, ….?
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Building the Business Case
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1. How do we get the necessary budget, IT and marketing
resources to make it happen?
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Assess capabilities & articulate goals
• “Batch & Blast” emails via a small business email service provider.• Using Adobe SiteCatalyst• Read research studies which demonstrated conversion rates on abandoned cart
emails could be 4-6x conversion rate of a “regular” email
Current Capabilities
• Increase sales by optimizing conversions – Identify and market to cart abandons• Free up manpower by automating routine tasks - API integration allow us to
automate opt-outs/opt-ins from our email system to our business system• Track Revenue per Send - New email service provider could integrate with web
analytics so we could track email sales
Program Goals
Gap analysis demonstrated that we needed to search for a new ESP
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Build Revenue Forecast
Open Shopping Carts Program
Qty 25,000
Open rate 60%
Opens 15,000
Click to Open 40%
Clicks 6,000
Potential RR 15%
Orders 900
AOV $215
Potential Sales $193,500
Sales/Email $7.72
Estimate incremental revenue analysis - demonstrates potential huge revenue win.
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Demonstrate the ROI
Q3/Q4
2008 2009 2010Sales Triggered Emails $500,000 $750,000 $1,000,00
0
Cost (ESP, Analytics Integration,
etc.)
$50,000 $55,000 $55,000
Sales/Spend $10 $14 $18
Expecting ROI Positive in year 1!
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2. What kind of conversion rates and revenue can I expect?
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Following up with abandoners by email
yields
up to 50% conversion.
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Relative VolumeAbandon Cart
Emails0.3%
Promotional Emails99.7%
DEMCO: Cart vs Broadcast Emails
Relative Sales
Abandon Cart Emails18.6%
Promotional Emails81.4%
High % of sales relative to volume
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Cart Recovery: Percentage of Email Revenue
70% 50%
12% 10%
5% 5% 4% 2%2% 1% 1% 0.50%
30% 25% 25% 20% 20%
Source: Silverpop 2010 Benchmark Study
Cart Abandonment Recovery Email Programs:
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Cart Email ADay 1
Cart Email BDay 3
Cart Email CDay 5 AVERAG
E
Open Rate 40% 39% 32% 37%
Click-to-Open 44% 47% 28% 41%
Click-thru-Rate 18% 18% 9% 15%
Conversion Rate
22% 15% 24% 20%
Sales/email $8.60 $8.40 $5.04 $7.46
DEMCO Results
Conversion rate is just as high on the first email as it is on the last email – without an offer
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Data and Integration
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3. Where do we get the email addresses from?
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2 sources for email addresses
Launch promotional emailSystem: Silverpop
Go to demco.comSystem: Adobe
(Genesis)
Launch abandoned cart emailSystem: Silverpop
Data feeds:• Abandoned cart date• Product purchase date• Product IDs• Shopping cart URL (business
system)
Web visitors(from search, bookmarks, etc.)
Go to demco.comSign in & save cart
Launch abandonedcart email
System: Silverpop
Data feeds:• Abandoned cart date• Shopping cart URL
(business system)
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4. How do I get the data between my ESP and Adobe Site
Catalyst?
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Genesis Integration with your ESP Makes it Easy!
No need to add code to your web pages to launch an integration!
GenesisEmail Partners
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5. How long will it take from setup to launch?
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DEMCO: 4 months start to finish
25
ESP & Adobe Genesis integration
Start w/new ESP
25
IT programming - Changes to cookie, cart ID in URL, carts from signing inCreative development
Create triggered rules & testing
JanLaunch
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Timing and Number of Emails
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6. When should the first cart recovery email be sent?
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Timing Factors
1. Within 1-2 hours, but 24 at latest2. 23 hours3. 3-5 days, 1 week
• Factors/Issues:• Product type (e.g., travel)• Feed timing• Did they purchase after abandoning?
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7. How many cart recovery emails should we send?
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How many emails should you send?
At least 1
2 is better
3 is even better
4 or more – may be too many, but test it
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Message A – 1 day after
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Message B – 3 days after
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Message C – 5 days after
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Creative – Design, Content, and Incentives
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8. Should we use incentives?
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Use Promotions, but with care
• Promotions will generate lift, and incremental profit
• Best practice is to promote on the last of your sequence• Capture maximum margin• Avoid training the customer to expect a
promotion
Cumulative conversion
Conversion per stage
Unsubscribe rate
1 2 3
Lift
Stage Conversion Open Rate Revenue / email
1: Real time 22% 70% $11
2: 24 hours 7% 65% $4
3: 7 days 6% 60% $3
Total 35% Average 65% Average $6
Source: SeeWhy
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Simple – Save 15%
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9. Should we include product photos, pricing, reviews and
recommendations?
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25% conversion on cart abandoners.
Cart program account for almost 1/3 of TOTAL yearly email sales
First and most effective in the series sent within hours after abandonment.
Price
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Product Inclusion – No price…yet
Next step add in price and
average reviews
The results:
• 38.5% open rate
• 10.15% CTR
• 50% conversion rate
• $4.80 revenue/email
Next step add in price and average
reviews
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10. What kind of design/layout approach should we use?
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Clean / Multiple “reminders”
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Stylish…
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11. What kind of tone and style of copy should we use?
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• Service tone
• Human • Multiple
channel options
• Reassurance• 50%
conversion
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12. What are subject line best practices and examples?
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From Name Subject Line
Soft Surrounding Good News! Your Shopping Bag is Still Available
Simple Shoes Want to get free shipping on your next order on simpleshoes.com?
Fabric.com Don't Go Yet! Come Back to Your Shopping Cart & Save!
Exclusively.In Hurry! You Have Items In Your Cart, Get Them Before They're Gone.
Exclusively.InHurry! You Have Items In Your Cart, Get Them Before They're Gone & Get Free Shipping Until The 15th Of Dec.
Cuddledown Items in your shopping cart are still available for purchase
CircuitCity.com You Left Something at CircuitCity.com…
Advance Auto Parts How can we help you with your purchase?Yankee Candle Company Is it something we said…
TigerDirect.com You Left Something at Tiger…
Smarthome You've left items in your cart!
Smarthome You still have items in your cart!
Smarthome Your cart is gathering dust!
Smarthome Only 24 hours left to use your cart!
Smarthome Your cart items are getting lonely!
SmartPak Canine A reminder from SmartPak Canine
SmartPak Equine Did you forget something?
Soft Surroundings Good News! Your Shopping Bag is Still Available
Spalook.com Forget Something From Your Bag?
DEMCO.com Courtesy Reminder
DEMCO.com Important Notice
DEMCO.com Special Offer for You
Sample From Names/Subject Lines
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Subject line considerations/best practices
Be helpful
Include incentives when applicable
Be positive
Don’t make them guess
Create a sense of urgency
Test, test and test
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Summary / Takeaways…
Just get started – don’t try to boil the ocean
Series, better than single email
Test timing, but early can be key
Use incentives carefully, later in series
Take a helpful, human approach with content/copy
Test and optimize over time
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13. Your questions here __________________________________________________
__________________?
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Q & A / Contact Information
Lisa [email protected]
Twitter: @Silverpopwww.slideshare.net/silverpopwww.silverpop.com
Loren McDonaldTwitter: @[email protected]+: Loren McDonald
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14. What is it and why do consumers abandon carts?
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What is cart abandonment?
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Top 5: Why visitors abandon shopping carts
Potential solutions:
1. Tune the shopping cart process2. Remarket
None of the top 5 reasons for abandonment can be addressed by tuning the conversion process
#1 Price #2 Not ready to buy
Source: SeeWhy
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15. How big is the challenge / opportunity?
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87% of consumers abandon carts
…75% say they will return to complete the purchase.
Source: Amaze/University of Glasgow
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— Multiple Sources “60–70%”
Abandoned Carts, Lost Revenue
57
Up to 70% of Shopping Carts are Abandoned before Checkout
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Cart Abandonment: 1-step from revenue
Sent
Delivered
Opened
Clicked
Product Views
Cart Additions
Checkouts
Orders
Revenue
Units
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16. Are we the only company NOT deploying cart recovery
emails?
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Do you deploy cart recovery emails?
Still quite a few who have not deployed this email remarketing technique.
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17. What are the typical costs involved in setting up a cart
recovery program?
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Costs - $ and resources
Email service provider - startup
Integration costs between ESP & Adobe Site Catalyst
Email design
Promotional cost (margins)
Programming – data feeds
Set-up of triggered campaigns
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18. Are there things other than abandonment that we can trigger a cart email off of?
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Sample Cart Abandonment Types
Recency
Cart Expiration
Product Availability
Price Change
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19. Don’t consumers game the system?
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What about gaming the system?
It isn’t a big issue
You can suppress gamers
Most marketers will take the revenue regardless
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20. What are some of the business rules and exceptions
we need to be aware of?
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Sample Rules and Lessons learned…
Price minimum
Suppress frequent abandoners
Suppress after purchase
Other abandons, not just via email
Add an opt-out flag for abandoned carts only
Don’t say “we’re going to empty your cart!”
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21. What kind of reports can I see for cart recovery in
SiteCatalyst?
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Integrated Email Data Looks Like This
Email campaign data from partner• Campaign Attributes • Opens• Bounces• Click-through
Email Campaign Metrics
With site conversion data from SiteCatalyst Revenue
Orders
Conversion Rate
Average Order Value, etc.
Site Conversion Metrics