Cart abandonment email remarketing silverpop
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Transcript of Cart abandonment email remarketing silverpop
Tips for remarketing with email
Don’t let a good shopping cart get away:
Presented at Adobe Summit 3.6.13
3 HUGE reasons why you are here …
@LorenMcDonald
3
— Multiple Sources
“60–70%”
1. Cart abandonment is a HUGE challenge
Up to 70% of Shopping Carts are Abandoned before Checkout
@LorenMcDonald
Sent
Delivered
Opened
Clicked
Product Views
Cart Additions
Checkouts
Orders
Revenue
Units
Cart Abandonment: 1-step from revenue
2. A HUGE revenue opportunity
@LorenMcDonald
Following up with abandoners by email
yields
up to 50% conversion.
@LorenMcDonald
% of email revenue from cart remarketing
70% 50%
12% 10%
5% 5% 4% 2%2% 1% 1% 0.50%
30% 25% 25% 20% 20%
Source: Silverpop Benchmark Study@LorenMcDonald
3. You know you are leaving a HUGE amount of money on the
table?”
7
@LorenMcDonald
@LorenMcDonald
… so let’s dive in … and make some money!
Who am I, anyway …
• VP, Industry Relations• Silverpop
Loren McDonald
@LorenMcDonald
YouSendIt Background
Business Case
Data / Integration /
Set Up
Results / Next Steps
5 Tips
Q & A
Agenda
• Sn. Mgr, Business Application Services
• YouSendIt
Wilson Fung
• Marketing Analyst• YouSendIt
GinaLongo
Speakers - YouSendIt
We bring ease to customers’ work lives by helping them share and manage
business content online
Content collaboration services
Across all devicesand platforms
Send. Share.Sync.Sign.
“Consumerized” B2B Business Model
Premium individual subscriptions
Viral adoption of freemium services
Enterprise-gradesolutions
15
YouSendIt Background
Business Case
Data / Integration /
Set Up
Results /Next Steps
5 Tips
Q & A
Agenda
Why Cart Abandonment
What’s the opportunity?
The Daily Cart Abandonment Opportunity
Site visitorsRegistrations
Lite Users
12,000 “Cart Abandons”
2,000Pro Orders
CC Paywall
So What?
Daily Conversion Daily Average Annual Initial Abandonment Rate Conversions Order Business Days Bookings
12,000 1% 120 $35.00 270 $1,134,000
12,000 2% 240 $35.00 270 $2,268,000
12,000 3% 360 $35.00 270 $3,402,000
The Cart Abandonment Opportunity
YouSendIt Background
Business Case
Data / Integration
Set Up
Results /Next Steps
5 Tips
Q & A
Agenda
Audit Your Cart
Understand your business flows
Genesis Setup
#1Tags
#2 Genesis settings
Secret Sauce Alert !!!
Setup Email eVar to be passed instead of Recipient
ID
#3 Set up variables
#4 Custom Segments (are FUN !)
Custom Segments are EASY!
Custom Segments are REALLY EASY!
ESP (Silverpop) Setup
#5 Add Genesis integration in ESP
#6Map the data
#7Create business rules
#8Create / Schedule Message
YouSendIt Background
Business Case
Data / Integration / Set Up
Results / Next Steps
5 Tips
Q & AAgenda
Measuring success …
What counts as a Goal?
Initial Results –Phase 1, 1 week
Phase 1
Sends 71,606
Opens 12,532
Open Rate 17.50%
Clicks 1130
Click-through Rate 9.02%
Orders 143
Conversion Rate 12.65%
Daily Scrum – Are We Succeeding?
Initial Results –Phase 2
Phase 1 Phase 2 Lift
Open Rate 17.50% 20.25% 16%
Click-through Rate 9.02% 12.80% 42%
Conversion Rate 12.65% 15.31% 21%
Phase 3, Phase 4…
Activity Triggered Engagement Platform
YouSendIt Background
Business Case
Data / Integration / Set Up
Results /Next Steps
5 Tips
Q & AAgenda
Take it Up A Notch (or 5)@LorenMcDonald
1. Develop a cart series
DEMCO Cart Remarketing Series
Cart Email ADay 1
Cart Email BDay 3
Cart Email CDay 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/email $8.60 $8.40 $5.04 $7.46
2. Add recommendations, reviews
The results:
• 38.5% open rate
• 10.15% CTR
• 50% conversion rate
• $4.80 revenue/emailDynamic product
recommendations
Recommendations
Reviews
3. Go near real-time
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
4. Humanize and test content
• Aaron - Real person• Service tone• 50% conversion rate
“Human” Cart abandonment
“David”
Contextual – Know your customer
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.In Hurry! 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
You still have items left in your cart!
Is it something we said …
5. Think beyond “recency” of abandonment
Get creative – think beyond “recency”
“Only 100 items left”
“Price is going up”
“Sold out … recommend..”
“Cart is about to expire …”
Don’t try to be perfect …
… dive in … and make more money!
Email Marketing
Mobile
Social
Marketing
Automation
Interested In Learning More?
silverpop.com/marketing-resourceswww.slideshare.net/silverpop
Twitter.com/silverpopFacebook.com/silverpop