The biggest problem with cart abandonment is small volumes. Let's assume
- 10% of visitors put something in the cart
- 50% of carts convert (50% are abandoned)
- 50% of the site visitors can be identified to have an email address
In this case site abandonment emails will target 18 times as many people as cart abandonment.
The Math
Your cart abandonment email will address only 2.5% of all site visitors. It will convert well, but it's impact on overall revenue will be small. (10% * 50% * 50%)
Consider a site abandonment email. If you sent an email to everyone you could address that didn't convert or put something in the cart (this assumes you have both a cart abandonment and site abandonment email), then your site abandonment email would target 45% of site visitors. (90% * 50%).
An Example - ProFlowers
The travel industry has been doing site abandonment (travel search abandonment) emails for years. I helped create one of the first search abandonment emails back in 2003 with Hotwire, which was recognized by both Jupiter Research and the NCDM for it's innovation.
http://findarticles.com/p/articles/mi_m0EIN/is_2003_Dec_15/ai_111257917
Isn't it time more retailers evaluated site abandonment email's usefulness?
1 comment:
Very good example, although by offering an extra discount you are probably running into another dark area. Those, who are familiar with your "site abandonment triggered emails" will probably abandon your shopping cart every time.
Any idea how you can tackle it?
Thanks
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