Industry: Ecommerce
Improve your Return on Investment with abandoned basket emails
Al Keck, managing director of retail specialist toinfinity, looks at how to turn abandoned baskets into sale conversions
not only to reach their target audience, but to win their loyalty. One of the biggest frustrations for retailers can be understanding what goes wrong, when and possibly why at the crucial point of sale stage. The standard abandon basket rate is oſten between 40% - 60%.
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What defines an abandoned basket? An ‘abandoned basket’ happens when a
customer browses, chooses an item and places it in their shopping basket ready to buy, but then leaves during the checkout, for what could be a number of reasons. For example, they might go off to compare other prices and return to buy, but more oſten than not, they’ll decide against making the purchase with issues such as poor user experience, lost passwords and shipping costs cited as reasons for not returning.
There are a number of questions to ask: • Why are your customers abandoning their baskets?
• What is the most common time of day, week or month it happens?
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hether it’s Pay Per Click (PPC), social media campaigns or print advertising, online retailers know how hard it is
• Is there a pattern of when customers leave their purchase?
• What could be the barrier to buying? For example a complicated checkout or button not clearly signposted on the page.
Insight and intelligence: Understanding online buying habits and
building a picture of customer insight is the key to creating a robust email campaign which should include an abandonment strategy. Recognising consumer habits will help any marketer take advantage of the key times to send emails. For example, Friday is proven to be a good day to send abandoned basket emails leading to good click through rates at the weekend. Lunchtime is a common abandonment time, so think when the target audience is most likely to be back online with the freedom to make the purchase. Strategies such as simplifying the password recovery process and offering free delivery when you spend £x are effective. With only 13%* of companies sending out
abandoned basket emails, there is a great opportunity to counteract these problems and save the lost sales.
Abandoned basket emails are your last
chance of winning your customer back, so it’s important to get them right. There are a number of retailers who know they are missing out on revenue with a high percentage of abandoned baskets. After reviewing sites from the customer journey and experience perspective, then working with them to optimise their pages and reporting back for maximum efficiency. After undergoing this review process, clients
on average experience conversion rates of 15% in the first two months. After further optimisation this can reach 20%, with the order value increasing by as much as 28%. As you only pay for a conversion,
abandoned basket emails are a guaranteed money-maker for retailers. These emails can also be used to encourage testing of subject lines, calls to action and offers.
*Bronto: From Abandoned to Conversion Whitepaper 2014
Al Keck is an ecommerce/digital marketing
consultant and managing director at retail specialist
toinfinity.co.uk
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