Abandonment programs bring back consumers
While we do everything we can to convert shoppers into customers, there’s no denying that up to 97% of them will leave your site without a purchase. It’s imperative that you do everything you can to bring them back – because consumers tell us that when they abandon your site, 60% of the time they are going to Amazon or Google to look at the same products. So if you don’t bring them back to purchase from you, you’ve effectively become the marketing arm for someone else. And that’s not a fun place for any marketer.
The other reason to deploy abandonment programs is that they really work – on average you can drive up to 25% higher revenue from abandoners by deploying comprehensive tactics to bring them back.
Both site and cart abandonment
It’s important to think about two forms of abandonment and deploy separate strategies for each.
First is site abandonment – those people who came to your site, browsed for products and services, but never put anything in a shopping cart. These consumers expressed interest but not yet intent – but they are very important because there are on average sixteen times more of them than cart abandoners.
Cart abandoners are more straightforward – these are the people who put products into a shopping cart on your site and then leave without purchasing. They tell us that when they do this, it’s either because they are not completely ready to buy, or they are checking pricing, shipping or other offers from your competitors.
Site and Cart Abandonment strategies that work
So what can you do about it?
You can use display advertising to retarget both site and cart abandoners – in fact if you don’t have a consumer’s email address, you can only use display retargeting for this. What works best is a series of relevant advertisements designed to personally draw the consumer back to your site – both with the products and services they were browsing, but also related options and choices they might like even better.
For known consumers and existing customers, email is the most effective tactic for bringing back abandoners. You can use email to target both site and cart abandoners, as long as you have their email address. What is key is that you must individually personalize every single email message you send with relevant products and offers – and you must do it quickly. The best practice is to send a series of three emails – on the first day, the second day and the fourth day after abandonment.
What works best overall by far is to use an omni-channel approach, using display retargeting and abandonment email together, in a coordinated fashion. It’s really 1 + 1 = 3. If you do this, you can expect up to 25% conversion to purchase.
All upside – and a lot of it
MyBuys is unique in offering Customer-Centric Marketing products and services that address both site and cart abandonment, via both display advertising and email. It’s highly effective, it’s being used by hundreds of leading firms like yours, and our pay for performance pricing model means that we only charge when we successfully bring your abandoners back to purchase.
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