Retargeting Campaigns that Increase ROI
Shopping cart abandonment campaigns are extremely effective at recouping lost revenue. When customers abandon carts, you know several things about them – which products they’re interested in, you know they have a need, and you know they’re ready to purchase. This information makes it very easy to reach back with relevant, beneficial messaging. Yet, in a recent poll including 200 of the Internet Retailer 500, only 14.5% have a shopping cart abandonment program in place. Resulting in a lot of lost revenue! The process has been proven to significantly increase sales. Movies Unlimited, an online movie retailer, implemented an automated shopping cart abandonment program that has an 11%+ sale conversion rate and returns a 28% higher average order value than its regular email marketing programs. But it’s not the only retargeting campaign you should be running. You can find out how much revenue you can recoup through a simple reachback campaign with our online shopping cart abandonment calculator.
Replenishment campaigns are another type of email retargeting campaign that you should consider. Like shopping cart abandonment campaigns, you know which products the shoppers are interested in and you can estimate the buying cycle based on the average product life or past purchase behaviors. These campaigns are extremely important in enforcing brand loyalty, as well as increasing customer lifetime value. When it’s time to restock a product, it is very easy for shoppers to perform a simple online search and choose the lowest price instead of returning to the retail site where they made the original purchase. A lot of online retailers don’t do enough to differentiate their product offerings and transactions from their competitors so in many cases shoppers might not even remember where they made the original purchase. However, if you send them an email at the time when they’re likely in need of a product, say a week or two before your identified purchase cadence; and you give them an easy way to repurchase the item, the shoppers will have no need to search competitive sites. This strategy not only generates additional revenue, but it lengthens your customers’ lifecycles and increases their value to your organization.
Similarly, you could create a predictive retargeting campaign surrounding cross-sell or upsell opportunities using your own purchase history data or a product recommendation engine to create targeted, individualized product alert messages. Because these emails are based on historical purchase data analysis, the messages are extremely accurate and highly likely to convert to a sale.
As you develop your behavioral retargeting campaign strategy, here are some things to keep in mind:
First Name:
Last Name:
Email:
Phone:
Company Name:
L_Submission_ResourceSource:
Campaign:
L_Submission_Newsletter:
L_Submission_ResourceID:
L_Submission_ResourceTitle:
L_Submission_TrackingID:
L_Submission_TrackingLabel:
L_Submission_CampaignGroupID:
L_Submission_CampaignGroup:
L_Keyword:
L_Source: