cart abandonment email marketing silverpop summit
TRANSCRIPT
Challenge/Opportunity
DEMCO – sell library suppliesOriginally a catalog companyNow web is a primary order sourceB2B, but respond like consumers
Challenge – cart abandonsOur cart abandon rate was 30%We knew from research studies - abandon cart emails could result in 4-6x
conversion rates as promotional emailsWe did an analysis and determined it could be a potential huge revenue win
Steps to Solve
1. Developed a strategic email plan– part of a more sophisticated
& targeted email program– increased relevancy
2. Completed an analysis to determine ROI
3. Integrated with web analytics provider (Omniture)
4. Launched emails!
Open Shopping Carts Program
Qty 25,000Open rate 60%Opens 15,000CTR 40%Clicks 6,000Potential RR 15%Orders 900AOV $215Potential Sales $193,500Sales/Email $7.72
Process for Data Feeds & Email Launches
Launch promotional emailSystem: Silverpop
Go to demco.comSystem: Omniture
(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)
Strategy & Messages
Started with a 3-step messaging approach…
Message #
Days after cart filled Message Offer
A 1 Courtesy reminder – you still have items in your shopping cart
None
B 3 Important notice – we have reserved these items for you
None
C 5 Special offer Free tote with offerNote that if they place an order during this sequence of emails, they don’t receive the
2nd or 3rd email
Email Examples
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
Results: Email Series
• Conversion rate is just as high on the first email as it is on the last email – without an offer
Results: Compared to Promotional Emails
These relevant and timely emails had significant results!
Abandoned Cart Emails
All Promotional
EmailsComparison
Open Rate 37% 8% 4.6xClick-to-open 41% 14% 2.9xConversion rate 20% 5% 4.0xSales/email $7.46 $.08 97x
Relative VolumeAbandon Cart
Emails0.3%
Promotional Emails99.7%
Cart vs. Broadcast Emails
Relative Sales
Abandon Cart Emails18.6%
Promotional Emails81.4%
High % of sales relative to volume
In Summary…
Lessons learned• Add in other abandons, not just those triggered by email• Added an opt-out flag for abandoned carts only• Don’t say “we’re going to empty your cart!”
Potential improvements• List products in the email with thumbnails• Test offers ($ off, % off, different free gift)• Test timing of offers
Key takeaways• Significant revenue can be generated from abandoned cart emails• 4x conversion rate and 100x $ per email than promotional emails