In my last article, Marketing is for the Dogs, I discussed the various types of digital remarketing and their best practices. In an attempt to continue with my dog analogy, I discovered that there was no way I was going to proceed without getting ridiculous or mildly inappropriate, so today we are just going to move forward with the second type of remarketing: EMAIL REMARKETING.
As you recall, remarketing is a way for companies to re-contact you using various methods, in hope to make their product visible at a time when you are ready to purchase.
When I ponder email marketing (yes, I know what that makes me…) Newegg.com comes to mind because they are email marketing geniuses and do it more completely than any other company I purchase from – or abandon. Let me walk you through it.
Day 1– I am looking into purchasing a new monitor or two for my office so I shop the usual culprits: Amazon – ebay – and Newegg. I look for a while and find a few great bargains at Newegg and put those in my cart and continue looking, and then back and forth between Amazon until finally Wilbur – my dog (I know–it is weak) distracts me and I leave my computer and end up logging out.
Day 2 – I get an email from Newegg with the latest information and deals on new computer monitors.
Day 4 – Another email. This time showing a number of good deals, and of course a great deal on one specific monitor. (If I was a newbie I would probably buy it at this point—but wait there’s more!)
Day 7– Here it is folks, the one I was waiting for. New, used, and refurbished monitors along with a time sensitive subscriber only discount. This is an excellent price and now substantially below the Amazon price, so I make the purchase.
That was hypothetical but a fairly typical example of my shopping experiences with them and a few of their smart competitors.
Abandoned cart remarketing is one of the primary targets of Email Remarketing. According to current statistics from Cloud-IQ, almost 75% of consumers abandon their cart, and an average of 20% of that business can be recovered with decisive re-engagement. At Cazbah, we have noted much higher recovered business rates. (Note: For email marketing, the company must have captured the email at some point, either with a capture form or member sign up etc)
Key points that makes this type of remarketing successful.
- Personalized emails – at this point in the sales process, the company has already garnered your email and name. This enables them to have personalized contact. This is often done before you have left the site as a reminder using an overlay/pop up of what is in your cart.
- Follow through timing – Successful remarketers use a strategy that involves properly timed emails. This is essential as you can easily turn a customer off by being too aggressive or missing the opportunity if you reply too soon. Good practice is to start with a reminder or nudge within 30 minutes to an hour of leaving the site, another in a day, and then the last toward the end of a week. Each one with a progressively larger incentive.
- Call to Action – For good conversion it is essential to have a clear call to action and an easy way for customers to get back into the buying process right where they left off. E.g. sending them to the cart checkout page versus just sending them to your home page or product category.
- Incentive – It is not necessary to give everything away immediately but the longer the customer has been away from your site, the probability of the completion of the purchase is less. To better your odds you must include an incentive in your emails with the last incentive being most aggressive. These can include free shipping, discounts, freebies etc…
Besides email remarketing for abandoned carts, other ways email remarketing can be used is to re-engage customers who have been inactive for a long time, rewards programs, or for purchase follow up as a thank you or survey.
At first this may appear like a very time hungry process, but that’s not the case. As with the other types of remarketing, there are ways that you can automate these targeted emails to make your job much easier and more profitable with pre made templates that utilize proven design practices. A few of the common providers are Remarkety, Constant Contact, Rejoiner and Criteo. Personally, we have had tremendous success with Remarkety, and one client had near 100% recapture rate! That is more of an exception than the rule but there is opportunity for tremendous gains.
We work with numerous companies who use this successfully and find it an indispensable tool. Send us a message or give us a call and we can get you on the right track to increasing your potentially lost revenue.