Abandoned Cart Emailing That Performs

According to Experian Marketing Services Email Benchmark Report, abandoned cart emails have significantly higher revenue per email than promotional mailings. The study found that personalized abandoned cart emails that show the actual customer cart had 25% higher transaction rates than abandoned cart emails that just linked back to the brand’s Website. And, personalized subject lines had 12% higher unique open rates than mailings without personalization.

Key findings in the report include the following (Q1 2014 vs. Q1 2013):

  • Email volume rose by 15.6% in Q1 2014 compared to Q1 2013
  • Unique open rates were 17.7% in Q1 2014, slightly ahead of 17% in 2013
  • Unique click rates were 2.3% in Q1 2014, declining from 2.7% in Q1 2013
  • Revenue per email was $0.11 in Q1 2014 compared to $0.10 in Q4 2013
  • Average order values rose by 7.2% year-over-year to $196.02

Two-thirds of the brands in the study sent two abandoned cart emails, while one-third sent three. All abandoned cart emails had significantly higher revenue per email than promotional mailings ($0.10). Abandoned cart emails should be delivered in a three-part series, suggests the report. Brands that send second abandoned cart reminders had a 50% increase in abandoned cart revenue compared to just their first abandoned cart mailing. Those sending three mailings saw a 56% increase in revenue compared to just sending the initial abandoned cart email.

Revenue Per Email For Each Mailing In An Abandoned Cart Series

 

1st  Mailing

2nd Mailing

3rd Mailing

2 in series

$1.76

$1.90

-

3 in series

2.17

1.79

0.87

Source: Experian Marketing Services, June 2014

All of the brands in this study sent the first abandoned cart email within one day of the online cart abandonment. During the first day, the mailings that were sent in real time had 62% higher transaction rates (2.0% vs.1.23) than mailings sent by bulk mail at a later time in the first 24 hour period. This lift in transaction rates for real-time vs bulk was not seen in subsequent abandoned cart mailings. For brands sending two abandoned cart emails, the second email was sent on day 2, 3, 5, or 6, with day 3 being the most popular.

Abandoned Cart Transaction Rates (2 part series) By Day Delay Mailed

Mailed

Transaction Rate

Day 1

1.24%

Day 2

0.57

Day 3

3.08

Day 5

1.02

Day 6

0.46

Source: Experian Marketing Services, June 2014

Including an offer in the first abandoned cart mailing boosted transaction rates by 54%. The highest transaction rates for offers were for dollar-off offers (2.05%), followed by free shipping (1.87%) and% off (1.15%) offers.

Abandoned Cart Transaction Rates (3 part series) By Day Delay Mailed

Mailed

Transaction Rate

Days 1,2,3

2.05%

Days 1,3,6

0.71

Days 1,4,7

1.13

Source: Experian Marketing Services, June 2014

The average transaction rates for each touch point of the three part series generally declined, but all stayed well above the 0.06 percent transaction rate for promotional mailings.

The study found, says the report, that including an offer in the first abandoned cart mailing boosted transaction rates by 54% (1.81% with an offer compared to 1.17% with no offer). Second and third mailings with offers had transaction rates that were 2.4 times higher than comparable mailings with no offers (1.74% with an offer compared to 0.72% without offer). The highest transaction rates for offers were for dollar-off offers (2.05%), followed by free shipping offers (1.87%) and% off (1.15%).

Abandoned cart emails that dynamically showed the actual customer cart had 25%higher transaction rates than abandoned cart emails that just linked back to the brand’s Website.

Abandoned Cart Email Inclusion

Inclusion

Transaction Rate

Link to brand website

1.14%

Link to see cart

1.27

Dynamic cart included

1.43

Source: Experian Marketing Services, June 2014

Peter DeNunzio, GM, cross-channel marketing, Experian Marketing Services, says “… mastering email remarketing through a series of personalized content... understanding impact of timing… creative messaging… and personalization… (has) direct impact on a brand’s bottom line… “

For the complete PDF report from Experian, please visit here.

 

 

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