7 out of every 10 customers abandon their online purchases, resulting in over 300 billion dollars of lost E-Commerce sales each year. The top 5 reasons for abandoning are split between price and timing. If a visitor leaves the shopping cart and does not return within the first hour, the probability of them returning to complete the sale is reduced by 90%.
With 90% unlikely to purchase from your site within the first 60 minutes of leaving, this means you have a very small window of opportunity to make an impact. Executing an effective remarketing campaign is difficult and why only 26% of e-commerce sites remarket.
Remarketing to web visitors that abandon your shopping cart is at the top of US marketers activity list, according to E-Consultancy, One of the main reasons for this is a recent report from Forrester Research that found that remarketing emails can generate nearly 4 times more revenue and 18 times greater net profits compared with marketing using simply non-ntargeted mailings.
Shoppers that abandon your website are visitors that almost purchased from you. It’s no surprise that real time, personalized emails within the first hour at highly effective. The more personal and relevant the email campaign is, the more likely the shopper will convert.
Many shopping cart recovery emails under perform because they look either like generic promotional emails or automated messages. Based on research from SeeWhy and E-Consultancy, there is a formula to getting the best out of your remarketing campaigns. Here are five tips for effective email remarketing:
1. Send your email remarketing campaigns within the first hour of abandonment in order to keep your brand at the forefront of the customers mind. Remember, they almost bought from you.
2. Personalize and tailor each remarketing campaign to the abandoned shopperr. Address them by name and offer your support in helping the visitor purchase your product or service. They may have left due to a technical error and are in need of assistance.
3. Tell your customer when his/ her shopping cart will expire. Make it clear that you will save the product/ service and you are happy to keep it until X(eg. 30) days before you put it back on sale on the site.
4. Show which item is in the shopping cart to remind the abandoned shopper what they almost purchased. Provide a clear image of the product and support it with guest reviews within the email.
5. Make your call to action prominent and link directly to the saved shopping cart. You want your abandoned shopper to see where to click within the email and that they arrive at the shopping cart checkout page. Do not send your shopper to your home page. Make it as easy as possible.
As online marketers look to find new ways to generate traffic and sales, get ahead of your competition and implement remarketing. For best in class campaigns, each email sent will probably be your most profitable campaign, generating up to 100 times the return that you would expect from a regular email campaign.
How you seen a significant increase in conversion rate since implementing email remarketing? Please share your comments below.