Cart abandonment email remarketing silverpop
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Cart abandonment email remarketing silverpop
- 1. Don’t let a good shopping cart get away: Tips for remarketing with email Presented at Adobe Summit 3.6.13
- 2. 3 HUGE reasons why you are here … @LorenMcDonald
- 3. 1. Cart abandonment is a HUGE challenge Up to 70% of Shopping Carts are Abandoned before Checkout ―60–70%‖ — Multiple Sources @LorenMcDonald 3
- 4. 2. A HUGE revenue opportunity Sent Delivered Opened Clicked Cart Abandonment: Product Views 1-step from Cart Additions revenue Checkouts Orders Revenue @LorenMcDonald Units
- 5. Following up with abandoners by email yields up to 50% conversion. @LorenMcDonald
- 6. % of email revenue from cart remarketing 70% 30% 12% 5% 50% 25% 10% 5% 25% 4% 2% 20% 2% 20% 1% 1% @LorenMcDonald 0.50% Source: Silverpop Benchmark Study
- 7. 3. You know you are leaving a HUGE amount of money on the table?‖ @LorenMcDonald 7
- 9. … so let’s dive in … and make some money!
- 10. Who am I, anyway … Loren • VP, Industry Relations McDonald • Silverpop @LorenMcDonald
- 11. YouSendIt Background Q&A Business Case Agenda Data / 5 Tips Integration / Set Up Results / Next Steps
- 12. Speakers - YouSendIt Wilson • Sn. Mgr, Business Application Services Fung • YouSendIt Gina • Marketing Analyst • YouSendIt Longo
- 13. We bring ease to customers’ work lives by helping them share and manage business content online
- 14. Content collaboration services Send. Share. Sync. Sign. Across all devices and platforms
- 15. Viral adoption of freemium services Premium individual subscriptions Enterprise-grade solutions “Consumerized” B2B Business Model 15
- 16. YouSendIt Background Business Q&A Case Agenda Data / 5 Tips Integration / Set Up Results / Next Steps
- 19. The Daily Cart Abandonment Opportunity Site visitors Registrations Lite Users CC Paywall 2,000 12,000 Pro Orders “Cart Abandons”
- 20. So What?
- 21. The Cart Abandonment Opportunity 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
- 22. YouSendIt Background Business Q&A Case Agenda Data / 5 Tips Integration Set Up Results / Next Steps
- 23. Audit Your Cart
- 24. Understand your business flows
- 25. Genesis Setup
- 26. #1 Tags
- 28. #3 Set up variables Secret Sauce Alert !!! Setup Email eVar to be passed instead of Recipient ID
- 29. #4 Custom Segments (are FUN !)
- 30. Custom Segments are EASY!
- 31. Custom Segments are REALLY EASY!
- 33. #5 Add Genesis integration in ESP
- 34. #6 Map the data
- 37. YouSendIt Background Business Q&A Case Agenda Data / 5 Tips Integration / Set Up Results / Next Steps
- 38. Measuring success … What counts as a Goal?
- 39. 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%
- 40. Daily Scrum – Are We Succeeding?
- 42. 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%
- 43. Phase 3, Phase 4…
- 44. Activity Triggered Engagement Platform
- 45. YouSendIt Background Q&A Business Case Agenda Data / 5 Tips Integration / Set Up Results /Next Steps
- 46. Take it Up A Notch (or 5) @LorenMcDonald
- 47. 1. Develop a cart series
- 48. DEMCO Cart Remarketing Series Cart Email A Cart Email B Cart Email C Day 1 Day 3 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/email $8.60 $8.40 $5.04 $7.46
- 49. 2. Add recommendations, reviews
- 50. The results: • 38.5% open rate • 10.15% CTR • 50% conversion rate Dynamic product • $4.80 revenue/email recommendations Recommendations Reviews
- 51. 3. Go near real-time
- 52. 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
- 53. 4. Humanize and test content
- 54. “Human” Cart abandonment • Aaron - Real person • Service tone • 50% conversion rate
- 55. “David”
- 56. Contextual – Know your customer
- 57. Sample From Names/Subject Lines 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? Is it something we said … Fabric.com Exclusively.In Don't Go Yet! Come Back to Your Shopping Cart & Save! 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 Advance Auto Parts You still have items left in your cart! You Left Something at CircuitCity.com… 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
- 58. 5. Think beyond “recency” of abandonment
- 59. Get creative – think beyond “recency” “Only 100 items left” “Price is going up” “Sold out … recommend..” “Cart is about to expire …”
- 60. Don’t try to be perfect …
- 61. … dive in … and make more money!
- 63. Interested In Learning More? silverpop.com/marketing-resources www.slideshare.net/silverpop Twitter.com/silverpop Facebook.com/silverpop
Hinweis der Redaktion
- ability to track the responder’s behavior not only to the landing page of a … but also from there through the Web site to ultimate sale, hesitation, or outright cart abandonment. This tracking is critical to testing modifications in the construction and targeting of the email that might improve results.” - IDC Worldwide Web Analytics Software Applications 2006 - 2010 Forecast and Analysis: 2005 Shares and Current Out look in the Year of IntegrationJune, 2006But that is exactly what we enable ourselves to do when we integrate email and analytics in the online worldSegments: Thick Slices = High ImpactFrom the information we gain - as we learn about groups within our visitor segments - we can refine and tailor the conversation with “thinner” custom slices of our population. Omniture’s Data Warehouse give you the option of any number of segment definitions for a more custom segmentation and thinner slices.Integrating email and web analytics behavior data lets you listen to what your customer is telling you through their website behavior, interact with them in a dialog of additional offers, and refine your knowledge until ultimately you and the customer determine how you can best fulfill the customer’s needs. When you send a spray and pray email, you are putting earmuffs on your concierge.But when you complete an integration, you are taking off the earmuffs, and letting the conversation flow.
- Ever send an email with an attachment? (show of hands)Ever send an email with an attachemnt that was so big it bounced? (show of hands)We solve that problem.Ever use FTP? (show of hands)We place that. Ever use Dropbox at work? (show of hands)We replace Dropbox with Enterprise grade services. We sell to IT , they love our solution b/c it makes their lives and their end-users lives easier.
- YouSendIt’s bread and butter business is all about sending big files, that you needed to FTP or FedEx a disk.In the last year, we added the “S’s” – sharing syncing and signing – to round out the enterprise suite.Sharing among work groups in or out of the company (e.g. with clients, or an agency)Syncing files and folders between desktop and iphone, ipad, and android devices so you “save once” and “access anytiime, anywhere” from the cloud. Sign on the go, without the hassels of downloading, printing, signing, scanning and refaxing. Just sign with your finger on the ipad or iphone, android, or with your mouse on the desktop.
- *** Create a Story to tellOur model is a “B2B Freemium” business model“B2B” because 90% of our use is comprised of business professionals like yourselves who have to send or share files and work content to get your job done.“Freemium” because we offer a free level of service to all, from which we upsell individuals to paid plans, and paid plans to group plans, and group plans to enterprise deployments. “Consumerization of B2B Sales and Marketing”
- ***Talk about why you did cart abandonment
- We realized we had at least six discrete “carts” we had to bring into the project (webapp, mobile, desktop app, trial flow, direct buy flow, upgrade flow, PPU flowWe also realized we needed to be able to track SEM from email marketing, from affiliates, so each cart and each channel needed to be uniquely tagged
- Soccer analogy - 20 people on the field – 20 sends. That has nothing to do with the success of your campaign.10 people got passed the ball – 10 opens. This shows the success of your subject line and possibly brand recognition, but not success of your campaign.5 people took a shot – 5 click-throughs. Marketers are tempted to stop here and call a higher click-through rate a winner. But you might be getting clicks from people who are otherwise uninterested in purchasing.1 person makes a goal – 1 successful order. This means that one person out of 20, or 5%, did exactly as you intended – they were swayed by the email to make a purchase.
- Good news – performing better than we expected.Better news: opportunity at every level of the funnel.Sends: represents 1/3 of the carts we have today.Opens: not yet optimizedCTR: not yet optimizedConverstion rate: not yet optimized3 email cadence – is phase 2 – launches in June, after we get phase 1 tuned. 143 order per business day gets us over the $1m annual hurtle already. Wow. Thank you Silverpop.
- The QB convened daily scrum to check status, blockers, next steps. Blockers were escalated to VPs on each side when needed and resolved same day. Would not have made the 45 day window without this tightly-managed process.
- The biggest opportunity we found was with the turn-around time. Having a once-a-day email that dropped the next morning was too late – our product is not like a pair of shoes, but it is a service, and we find that our best opportunity is when the person needs to use our service. So we needed a much faster turnaround – and for that we started doing 1-hour realtime emails.
- Obviously this is a fantastic result. When we tweak, we usually don’t expect to double the impact with a single iteration. We expect to make small tweaks with incremental results.
- Must keep on iterating – this is not a set-and-forget deal! As the style and focus of the business changes, so should the email. Our emails are focusing more on engagement and on sharing our apps – and it is shown that users who engage with our apps produce a higher lifetime values. Could we use our cart abandonment email to increase the value of persons who open the email, but aren’t up for the trial offer?
- Over 3,000 shopping cart abandoned emails sent, per monthSegment versions between supplies versus SmartPaks cart abandonmentSent in AM to customers who abandon cart day prior
- Good news – performing better than we expected.Better news: opportunity at every level of the funnel.Sends: represents 1/3 of the carts we have today.Opens: not yet optimizedCTR: not yet optimizedConverstion rate: not yet optimized3 email cadence – is phase 2 – launches in June, after we get phase 1 tuned. 143 order per business day gets us over the $1m annual hurtle already. Wow. Thank you Silverpop.
- Silverpop brings the expertise and experience to support your marketing needs. We are the only digital marketing technology provider that brings together email marketing, marketing automation and social sharing, including location-based marketing.Silverpop serves over 1,400 clients across a variety of industries, geographies and business sizes. We have been in marketing technology for over 12 years, this brings you a partner with the financial and operational stability to support your business, it brings you a partner with a depth of experience and with a highly scalable infrastructure. Silverpop is a global company, we have over 400 employees worldwide. Our US headquarters is in Atlanta. We also have offices in London and Frankfurt and do business in Asia Pacific through a reseller.
- Also available at silverpop.com/marketing-resources is more information about future webinars, recordings from previous webinars, You can also access slides from Silverpop presentations on social media and countless other topics at slideshare.net/silverpop. You can also find us on Twitter and Facebook.