Reclaim Revenue: How to Create Effective Abandoned Cart Campaigns

Reclaim Revenue: How to create effective

abandoned cart campaigns

TWEE

T!

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@WhatCounts

Today’s hashtag:

#ReclaimRevenue

Today’s Speakers

Erin Devine

Strategist, WhatCounts

[email protected]

Emily Keye

Director of Strategy, WhatCounts

[email protected]

What is an Abandoned Cart Campaign?

▪ Lifecycle Messages

▪ Remarketing Messages

▪ Transactional Message/Promotional Messages

Abandoned Cart Campaigns

▪ Why do people abandon?

▪ One Abandoned Cart

Campaign or more…

▪ How to make your abandoned

cart strategy more effective!

Today’s Agenda:

Understanding Abandonment

According to expert studies, shopping cart abandonment statistics

show a 68% rate industry-wide overall.

That means that only roughly 1 in every 4 customers actually

finish the purchase.

Business Insider estimates that collectively,

as much as $4 trillion worth of shopping carts

Were abandoned in 2014.

Abandonment Issues!

Two Sides of Abandonment

Prevention Recovery vs.

▪ User Experience

▪ Indecision

▪ Technical Issues

▪ Total Order Cost

Why do people abandon?

User Experience

▪ Guest checkout keeps the buying process going

▪ VMO Report: 23% abandoned because they did not want to create an account

▪ Account sign-in for returning customers

▪ Time consuming to get forgotten password

▪ Forrester: 14% didn’t pay because of this

User Experience: Required Registration

▪ Click password reminder link

▪ Enter email or ID info

▪ Wait for the email

▪ Click link

▪ Create new password

▪ Log in

▪ Go back to cart

User Experience: How many steps?

▪ Keep it short and sweet

▪ A 2-3 page process could be ideal to keep the customer flowing

through the cart process

▪ Make sure you capture email address as early in the cart process as

you can

▪ 5.6 average pages from the cart to the order confirm

User Experience: Too many pages

User Experience: Keep it Simple

▪ Different calls to action

▪ Different buttons

▪ Different selection options

User Experience: Site Functionality

▪ Excitement

▪ Confusion

▪ Anxiety

User Experience: Emotions

▪ Cart overloaders- we all know one.

User Experience: Emotions

▪ What happens next?”

▪ Set expectations

▪ Include breadcrumb

trail or step indicator

User Experience: Emotions

Indecision

▪ Not Ready

▪ Changed Mind

▪ Decided to Save Product

Indecision

▪ Wait until payday

▪ Wait to get home from work

▪ Wait for spouse to weigh in

▪ Multiple device shopping is also

something that needs to be top

of mind

Indecision: Not Ready

Telco 2.0 Research

▪ Result of price

▪ Shipping timeline

▪ No longer want product

Indecision: Changed mind

▪ Wish List

▪ Save for later

Indecision: Decided to save product

Technical Issues

▪ Slow load times

▪ Not enough product info

▪ Not reinforcing security

Technical Issues

▪ 35% of brands do not display information about the security of an

order during the checkout process.

Technical Issues: Security

Technical Issues: User-Friendly Promo Codes

▪ Code copied in email

▪ Pasted in check out

Technical Issues: User-Friendly Promo Codes

▪ Code must be:

- Memorized

- Written

- Inbox revisited

▪ O or 0?

▪ Offering live chat

▪ Providing a customer service phone number

▪ Include these in the cart as well as in abandoned cart messages

Technical Issues: Customer Support Options

▪ 66% of consumers believe accessible customer service contact

information is the most important

Technical Issues: Customer Support Options

Total Order Costs

▪ Price Comparison

▪ Shipping Costs

Total Product Cost & Additional Fees

36% didn’t pay for items because they felt the total cost was higher

than anticipated

27% didn’t pay for items because they wanted to comparison shop

▪ 36% of brands did not include actual or estimated shipping costs

▪ People want fast & free shipping

▪ Clearly communicate shipping costs

▪ Show totals or estimated totals early in the cart

Total Product Cost: Shipping Costs

Checkout not

optimized for

mobile

Even More Reasons…

Preferred

payment type

not accepted

User got

distracted

Device

Toggling

Using as

wish list

From Prevention to Recapture

Identify at which stage people are

commonly abandoning & make any site

adjustments necessary

Post Abandonment

Let’s recover that lost revenue!

Don’t assume they will come back on

their own.

Do send an Abandoned Cart Message!

Over an eighth (13.3%) of cart abandonment emails are

clicked.

The average order value (AOV) of purchases from cart

abandonment emails is 19% higher than typical purchases.

Nearly half (46%) of all cart abandonment emails are opened.

Over a third (35%) of clicks lead to a purchase back on site.

The shopper has abandoned cart.

What now?

▪ Option 1: API

▪ Option 2: Conversion Tracking

▪ Option 3: Partner Integrations

▪ Option 4: Manually

Do you know how long you save abandon cart data?

Where to Start

One is better than none!

Testing is key!

There is no magic strategy

▪ Subject Lines

▪ Content

- Urgency

- Personalization vs. “generic”

- Offer vs. No Offer

▪ Timing

One & Done!

Balance Service & Urgency

• “We are saving your cart for you”

• “You left something in your cart”

• “Can we help you complete your purchase”

• 46% of brands included a note about the cart

• 77% of brands took a customer service tone with their subject lines

Subject Line Strategy

Be sure your message includes:

▪ Determine your approach

▪ A sense of urgency (your cart is going to expire)

▪ Show the product(s) that are in the cart

▪ Link back to the cart

▪ Consider including an offer

▪ Option to complete over the phone

Message Content Strategy

Extra credit

• Show the price

• Show the availability

Content: The Honest Co. – Friendly Reminder

Content: Zulily – Sense of Urgency

Content: UGG – Fear of Loss

Content: doggyLoot – Fear of Loss

Content: Dell– Cart Expiration

• Generic message, reinforces the brand

Guess – Shipping Offer/Generic

ProFlowers - Incentive

Old Navy – Reminder/Shipping/Fear of Loss

Content: Disney Destinations - Be different!

▪ 30 hours? 45 minutes? 3 days after abandonment?

▪ Testing will be key to find out what the optimal time is

▪ 45 minutes post-abandonment starting point

• Remember, 64% of carts can be recaptured within the first 48 hours – determining

when in that time frame depends on testing

Timing: When to Send?

Take it a step further…

Create an Abandoned Cart

Series!

Expanding from one message to a series:

• 38% of brands send a second abandoned cart

message

• 5% used personalization in the subject line of the

second message

• 14% mentioned the cart

Timing: When to Send?

• What is your AOV?

• The higher the AOV, typically the later you can send message 3

▪ More comparison shopping is typically done for large ticket items

• Someone may wait several weeks to shop for a $2,000 TV, but not so much

for a pair of shoes

Timing Considerations - AOV

▪ Think about offering an incentive

▪ Don’t train customers to wait for coupons

▪ Subject lines for later abandoned cart messages:

- Message 1: “Friendly reminder, “we’re saving your cart for you.”

- Message 2: “Sense of urgency, cart will soon expire, possible incentive.”

- Message 3: “Last chance on offer, cart is expiring, quantities limited, etc.”

Expanding from one message to a series

Be sure your message includes:

▪ A sense of urgency (your cart is going to expire)

Content: Abandoned Cart Series

SL: “You Left Some Things In Your Shopping Bag + Get FREE Shipping!” SL: “Your Shopping Bag Expires Soon!”

Content: Abandoned Cart Series

Customer Service Friendly Reminder Incentive

Content: Abandoned Cart Series

Customer Service IncentiveIncentive

Content: Abandoned Cart Series

Friendly Reminder Incentive

Testing is key!

There is no magic strategy

Top 5 Takeaways

• Audit the purchase process

• In the cart include Customer Service Contact information, Security Icons and

Shipping Costs

• Send at least one Abandoned Cart Message/s

• Determine your strategic approach

• Test, Test, Test!

Reach out to us

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Suite 900

Atlanta, GA 30326

Call us! 1-404-995-8600

whatcounts.com

Twitter: @whatcounts

[email protected]

THANKS FOR ATTENDING!