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Transcript
The Cost of Lazy Email Marketing
Listrak’s Email Marketing Best Practices Webinar Series: June 17, 2009
Visit www.listrak.com/resources.asp to view other webinars on demand after today’s presentation.
• Best conversion rates are seen as close to abandonment as possible• 1 hour wait has higher CTR, 6 hour wait has a higher AOV• Send a series of emails – not just one!• Shorten the delay from one message to next if shopper clicks but does not convert
Campaign Timing
Shopper Abandons
Cart
Wait 3 Hours
1st Message
Wait 2 Days
2nd
Message
1 Day 2 Day 5 Day0.00%
2.00%
4.00%
6.00%
8.00%
10.00%
12.00%
14.00%
Why wait?Effect of reminder email timing on conversion rate
Promotion & Margin Optimization
Campaign Promotion Concepts
• Promotions should be used to drive demand, don’t forget to test hold-back• Use single-use coupons if possible• Test using promotion in second series email• Test discount ladder concept as latency increases
• First Email: No promotion• Second Email: $5 off• Third Email: $10 off
• Test promotions that increase AOV
blog.minethatdata.com
Campaign Success
Movies Unlimited Promotion
$5 off $25
Promotion & Margin Optimization Testing
Offer drove26% more orders
SCA Programhad 27.7% higher AOV than normal website
Offer drove 37% more
products ordered
“Judie”Past Purchaser: YDays Since Last Purchase: 231YR$: $1,200.00
“Linda”Past Purchaser: NDays Since Last Purchase: null1YR$: $0.00
No Offer Offer
Content Best Practices
Content Concepts
• Pictures of products
Source: Listrak 2nd Annual Shopping Cart Abandonment Study
Content Best Practices
Source: Listrak 2nd Annual Shopping Cart Abandonment Study
Content Best Practices
Content Concepts
• Recommended products• Leverage an asset you might already own• Certona, Baynote, RichRelevance, etc.
Certona IntegrationContent rendered byCertona’s Resonance Image Server
Easy Idea!Hard-code block of content based on best sellers
Source: Listrak 2nd Annual Shopping Cart Abandonment Study
Content Best Practices
Content Concepts
• Available in store• Find your nearest store CTA
• Video• Safety and Security
• Shop with confidence• Ratings and Reviews
Case in Point: Vintage Tub & Bath
• IR500 Retailer• Bazaarvoice customer since 2006• 12,500 parent SKU's• 1,887 reviews• Over 86% of reviews have a 4 star rating or better
Social Proof: Ratings & Reviews
Review Criteria
• Approved reviews only• 4 (out of 5) star reviews only• “Featured Reviews” and reviews from “Top Reviewers” given priority display
Social Proof: Ratings & Reviews
Savvy Users Might “Game the System”• Do you even care?• Randomize offers• Suppress offer for 90 days to individual shoppers
Multi-Channel Retail• Promotions / messaging need to be in sync between channels• Consider ROPO effect
Call Center Orders Might Need Extra Help• Inform call center of abandon cart shoppers