The transactional email is a staple of the customer communications process for online retailers -- from confirming purchases to updating shipment status. But all too often retailers allocate minimal resources to optimising the transactional email for increased engagement, brand experience and additional revenue opportunities. Sophisticated retailers and ecommerce organisations, however, are moving transactional emails beyond the “purchase process” and generating significant results by deploying “pre- and post-purchase” email streams.
For many online retailers, these “low volume, high ROI” triggered emails comprise less than 5 percent of their email volume, but produce 40 percent or more of their email revenue. This session reviewed several, successful “transactional 2.0” email techniques, including cart and browse abandonment programs, product review requests, bounceback, order replenishment and more. Session explored best practices, reviewed ROI examples of each message type and reviewed the technologies and resources required to implement them through a highly interactive session.
Originally presented for NMA UK Webinar.
34. Transactional triggered email sells 4.1% Triggered Campaigns Sales Generated Volume of Emails sent 95.9 % Batch Campaigns 40.2% Triggered Campaigns 59.8 % Batch Campaigns 80% of revenue is from shopping cart recovery emails 25
35. Top 5: Why visitors abandon shopping carts 26 #1 Price #2 Not ready to buy Potential solutions: Promotions Remarketing to shopping cart abandoners Average Shopping Cart Abandonment Rate 71%
36. Based on 2009.... From 2nd week in September Through 2nd week in November Sales volume Abandonment Christmas is coming...... 27 Prime time for email remarketing
37. Recover abandoned carts – The best ROI $46.6 million /year For a $20m ecommerce company… $127,000 /day $5,000 /hour What’s being left on the table? Increase conversion rates by… Percentage Daily $ Amount Annual $ Amount 10 % $ 12,700 $ 4.66 M 20 % $ 25,400 $ 9.32 M 30 % $ 38,100 $ 13.98 M Annual ecommerce revenue - Annual ecommerce revenue (1- Abandonment rate) = $46.6 million annually or $127k daily 20,000,000 - 20,000,000 1-70% 28
38. Real life performance 29 Average SeeWhy Recovery Rate: 19.8% Average payback period: 11 days
39. Best practice formula: Cart recovery campaign checklist ID your visitors Real time first follow up Multiple follow ups Automation Service tone 30
40. Incentivised sign up’s work well Recognised the value of getting personally identifiable data with a simple reward ID your visitors 31
41. And here’s your sign up reward Free shipping Simple promo code Share with friends Must be sent real time Increases conversions Also works with Social Network logins E.g Facebook Login
44. In sync with customer“It’s all about speed here. The faster you contact the consumer, your chances are dramatically increased.” 70 60 50 40 Lead Temperature 30 20 10 1 2 3 4 6 7 8 10 5 9 Hours 33
48. ~7 days later with a promotionConversion per stage Cumulative conversion Lift 1 2 3 Unsubscribe rate A ecommerce company generating $20m in revenues per annum loses $127k every daydue to abandonment
49. Generates $0.75m in incremental revenues 3 stage campaign with a promotion on #3 The first few hours after the abandonment are critical $700/hour initially Falls to $50/hour after 5 days Multiple follow up email performance in action Revenue recovered per hour #2 sent here #3 sent here #1 sent here Hours elapsed after abandonment
57. Transactional email The time between abandonment and recipient receiving the email should be <1minute Transactional API’s are essential (such as Silverpop Transact) Real time triggering Individual behaviour on site directly drives an immediate response Data cannot be moved in batch, (or even extracted manually!!!) Staying in step with visitors Returning visitors need to be spotted irrespective of how they come back to the website Return to my cart button Direct Search engine Banner ad etc Automation 40
58. Top 10 Converting Websites Research report Lessons learned from the Top 10 Converting Websites Average visitor-to-sale conversion of 23% (industry average 2-3%) What they do differently To get your free copy of the report at www.seewhy.com 41
0.7% of product views convert to orders8% of cart additions convert to orders
30% Open Rate (40% Higher than Broadcast average) 7% Click through rate (18% Higher than broadcast average) 15% Higher conversion rate than overall average Surprisingly slightly lower than average order value