remarketing Best practices guide

Transcription

1 remarketing Best practices guide

2 What is remarketing? remarketing is the practice of sending targeted s to Website visitors based on their unique site behavior. It involves the use of behavioral data to target extremely relevant and timely communications. This type of campaign is very effective and has become increasingly popular over the past few years, with data showing lifts in opens, clicks and transactions over regular, promotional s. For example, as the chart on the right shows, the simple act of sending an to remind site users of an item left in their online shopping carts (also known as an abandoned cart remarketing campaign) increases purchases at a rate that is 19 times higher than promotional mailings (1.53 percent transaction rates for abandoned cart mailings compared to 0.08 percent for promotional All industry mailings). Remarketing examples include marketing campaigns triggered by abandoned shopping carts, product browse behavior and cross-sell/upsell campaigns based on recent purchase behavior. Source: Experian Marketing Services

3 How remarketing works The diagram to the right illustrates the typical flow of an abandon cart or form remarketing campaign. On average, our data shows lifts in opens, clicks and transactions for remarketing s sent closer to the time of the activity. Many marketers also send more s (up to 5) after step 4, as customers may need to be reminded multiple times of the abandoned items in their carts before they make a purchase. Most marketers send remarketing s one to three days post abandon or activity. However, real-time remarketing meaning a remarketing sent within minutes of an abandoned cart or form, or other activity has become increasingly popular over the past few years, showing increases in opens, clicks and transactions Initial sent Customer clicks through to website Web browsing / shopping Customer browses and carts items Abandoned cart or form Customer leaves website without making purchase Remarketing sent Customer receives abandon cart reminder Online purchase made Customer clicks through and makes purchase

4 Abandoned cart or form s Abandoned cart or form s are the most popular type of remarketing . As of late 2013, more than half of Experian Marketing Services clients were deploying abandoned cart or activity s. Examples: Retail brands will typically trigger an (or multiple s) from an abandoned cart, such as the example on the left. Publishers may trigger an from an abandoned form Financial services companies may trigger a message to prospect that failed to complete a credit card application. Here is a simple abandon cart with a typical site navigation and a linked image to the product that was left behind in the cart.

5 Abandoned cart facts 40.3% Average unique open rates for abandon cart/activity s 41% Lift vs regular promotional s Open rates are much higher for abandon cart s than for regular promotional mailings because of the timeliness and relevancy to the customer. In light of these statistics, it is undeniable that abandon cart s should be a part of every digital marketer s program. Source: Experian Marketing Services Q Benchmark Study

6 Design considerations for abandoned cart s Though any type of abandon cart generally is successful, there are various details to consider when launching or optimizing an abandon cart program. Each of these elements can help your s achieve the best results. As the chart above shows, s that display products from a customer s abandoned cart and links to access them online achieve very high click and transaction rates, whereas rates for s without links to customer specific carts are much lower. Quick tips for design layout: Incorporate images of the products a user has carted in the body of the whenever possible. If you are unable to incorporate product images, think about promoting other product recommendations, or use them in addition to the existing images. Include a direct link to the checkout page to enhance the convenience of the customer experience. Always ensure the renders well on a mobile device. Remind customers how easy it is to shop on your site. If you are integrated with PayPal, tout it.

7 Design considerations for abandoned cart s Example: In this example, Overstock makes its look like an actual checkout page. Notice the personalization of the customer s first name; the prominent images of the products that were left behind; and the large, mobile userfriendly buttons to continue to the checkout page, including the option to make the transaction via PayPal.

8 Frequency and timing for abandoned cart s Cadence: We recommend sending at least two abandon cart s. Our benchmarks show a 54 percent lift in revenue when a second abandon cart is sent. We also recommend that the s in a series have a consistent look and feel and to include a discount if you have tested offers and the ROI makes sense. Because customers often purchase without an offer, it is best to offer a discount in the last of a series as a last ditch effort to entice a sale. Timing: We have seen lifts in revenue when abandon cart s are sent closer to the time of abandonment. That can be as early as 30 minutes or one day. However, we always recommend testing what is right for your brand and customers. Think about the specific products you re selling and the path to purchase. A customer may need extra time and considerations for an expensive couch versus a lower-ticket item like a vase. 54% Lift in revenue when a second abandon cart is sent 30min to 1day s sent closer to time of abandon see lifts in revenue

9 Browse s Browse s are sent when a user clicks through an to a Website, browses and then leaves the site. There are a few different types of browse s that can be sent. The most common are category and product browse. We see varying degrees of dynamic elements within those types of s. Example: Fast facts: We see a 4x lift in transaction rates and a lift of six times in revenue per for browse s over promotional s Transaction rates are much higher for browse campaigns dynamically displaying products similarly to the example on the right (0.04 percent without and 0.08 percent with) In this example, Bare Necessities displays the exact product the customer browsed in a note near the bottom of the , showing the item is in stock.

10 Thank you for purchase s In addition to sending customers order and shipment confirmations or a review , it is important to also say Thank you. Thank you s can say more than just Thanks. They can go a long way in terms of enhancing the customer experience if you include a link to the UPS or FedEx tracking number. You also can use incentives like discounts to get customers to return to a store or a Website, and these discounts can be targeted based on average order size.. Example: Fast facts: We see a 14x lift in transaction rates for thank you s over promotional mails Thank you s also achieve a 13x lift in revenue over promotional s Bare Necessities sends a thank you that also includes a 20% off discount on the customer s next purchase if she returns to the website specifically through the link in the .

11 Other types remarketing s Wish list on sale An sent to a customer based on an item on his or her online wish list that is going on sale. Example: Here is an example of how ModCloth sends its customers a simple reminder when an item in their wish list goes on sale. Replenishment An sent to a customer reminding him or her of a purchased product that may need to be replenished. Possible examples include a makeup staple a customer buys every month or office paper refills. Upsells An that is triggered once a customer purchases a specific item that may have other items that accompany or complement it. For example, when a customer buys a desk chair, he or she may receive a follow-up promoting desk chair mats.

12 Summary remarketing is a tried and true tactic for marketers seeking different ways to keep their digital customers engaged. Remarketing programs that include abandon cart or form and browse s, for example, have seen significant increases in open and click rates, as well as revenue per , proving that even the simplest reminder can inspire customers to make repeat purchases and encourage their loyalty to the brand. Key takeaways: Types of remarketing s include abandon cart, browse, thank you, wish list on sale, replenishment and upsells / cross-sells The simple act of sending an to remind site users of an item in their shopping cart increases completion and purchase rates by 1.53 percent Benchmarks show a 54 percent lift in revenue when a second abandon cart is sent We typically see lifts in revenue when abandon cart s are sent within 30 minutes to 1 day, but the exact right time to send depends on the specific brand and products being sold Transaction rates are much higher for browse s dynamically displaying products (0.04 percent without versus 0.08 percent with) Saying thank you to your customers is important - thank you s receive a 14x lift in transaction rates and a 13x lift in revenue over regular, promotional s

13 About Experian Marketing Services Experian Marketing Services is a leading global provider of consumer insights, targeting, data quality and cross-channel marketing. We help organizations intelligently interact with today s empowered and hyperconnected consumers. By helping marketers identify their best customers, find more of them, and then coordinate seamless and intelligent interactions across the most appropriate channels, Experian Marketing Services clients can deepen customer loyalty, strengthen brand advocacy and maximize profits. For more information on remarketing and other integrated tactics, contact your Experian Marketing Services account team, call or visit us online at

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