Abandonment Issues: Achieving abandoned basket remarketing success

Transcription

1 Abandonment Issues: Achieving abandoned basket remarketing success

2 Mass Marketin g Direct Marketin g Behaviour al Marketing Customers are a single audience Customers are many little audiences Customers are individuals

3 Behaviour Driven s Deliver! 9x Note: Metrics and salary costs based on JupiterResearch executive survey. Broadcast assumes $3 CPM, and all others assume $4.5 CPM. All assume $89 AOV, 50 percent product margin, and 2.8 million pieces of mail per month.

4 Agenda: 4 Categories > 8 Questions Business Case Creative / Incentives Data / Integration Timing / # of s

5 Building the Business Case

6 1. How do we get the necessary budget, IT and marketing resources to make it happen?

7 Assess Capabilities & Articulate Goals Gap analysis demonstrated that we needed to search for a new ESP Current Capabilities Manual send, once per week Time consuming Dependent on staff availability Program Goals Automated Timely Revenue stream

8 Build Revenue Forecast Open Shopping Carts Program Qty 25,000 Open rate 60% Opens 15,000 Click to Open 40% Clicks 6,000 Potential Recovery Rate 15% Orders 900 AOV 215 Potential Sales 193,500 Sales/ 7.72

9 2. What kind of conversion rates and revenue can I expect?

10 Cart vs Broadcast s Relative Volume Abandon Cart s 0.3% Relative Sales Abandon Cart s 18.6% Promotional s 99.7% Promotional s 81.4%

11 Low Volume, High ROI Volume of s sent Sales Generated 4.1% Triggered Campaigns 95.9 % Batch Campaigns 40.2% Triggered Campaigns 59.8 % Batch Campaigns

12 Data and Integration

13 3. How do I get the data into my marketing platform?

14 Data Integration From e-commerce platform From web analytics From specialised abandoned basket tracking tools

15 Timing and Number of s

16 4. When should the first cart recovery be sent?

17 Wait Period Time taken to send 1 st Conversion Open Rate Revenue / 1: Real time 11% 60% $11 2: 24 hours 6% 55% $4 3: 7 days 3% 50% $3 Total 20% Average 55% Average $6

18 5. How many cart recovery s should we send?

19 DEMCO Results Conversion rate is just as high on the first as it is on the last Cart A Day 1 Cart B Day 3 Cart C Day 5 AVERAGE 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/ $8.60 $8.40 $5.04 $7.46

20 Creative Design, Content and Incentives

21 6. Should we use Incentives?

22 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 Stage Conversion Open Rate Revenue / 1: Real time 22% 70% $11 Conversion per stage Cumulative conversion 2: 24 hours 7% 65% $4 3: 7 days 6% 60% $3 Total 35% Average 65% Average $6 Lift Unsubscribe rate Source: SeeWhy

23 7. What kind of design/layout approach should we use?

24 Clean / Multiple reminders

25 8. What are subject line best practices and examples?

26 Sample From Names/Subject Lines From Name Soft Surrounding Simple Shoes Fabric.com Exclusively.In Exclusively.In Cuddledown CircuitCity.com Advance Auto Parts Yankee Candle Company TigerDirect.com Smarthome Smarthome Smarthome Smarthome Smarthome SmartPak Canine SmartPak Equine Soft Surroundings Spalook.com DEMCO.com DEMCO.com DEMCO.com Subject Line Good News! Your Shopping Bag is Still Available Want to get free shipping on your next order on simpleshoes.com? Don't Go Yet! Come Back to Your Shopping Cart & Save! Hurry! You Have Items In Your Cart, Get Them Before They're Gone. Hurry! You Have Items In Your Cart, Get Them Before They're Gone & Get Free Shipping Until The 15th Of Dec. Items in your shopping cart are still available for purchase You Left Something at CircuitCity.com How can we help you with your purchase? Is it something we said You Left Something at Tiger You've left items in your cart! You still have items in your cart! Your cart is gathering dust! Only 24 hours left to use your cart! Your cart items are getting lonely! A reminder from SmartPak Canine Did you forget something? Good News! Your Shopping Bag is Still Available Forget Something From Your Bag? Courtesy Reminder Important Notice Special Offer for You

27 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

28 Summary / Takeaways Just get started don t try to boil the ocean Series, better than single 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

29 6 Behaviour Rules & Takeaways

30 6. It s really HUGE!

31 5. Right time = Right message

32 4. Get automated

33 3. Get personal, get human

34 2. Just do it, fail fast

35 1. You can leave the office earlier!

36 4,000+ Brands & 15,000+ Marketers Financial Services Powered by Silverpop Retail Energy & Utilities Media Business Services Software Travel & Hospitality Non-Profit Food & Beverage Hardware Entertainment Education

37 Thank you!