The survey by Silverpop, a leading provider of email marketing and marketing automation solutions, shows that 83 per cent of respondents will be distributing cart abandonment emails by the end of 2011 and nearly 75 per cent will have implemented browse abandonment campaigns by the end of the year.
Recipient driven messaging such as cart abandonment campaigns are helping struggling retailers generate incremental boosts in revenue and customer loyalty with minor time investment. Such programmes have been shown to deliver 25 to 40 per cent or more email revenue for retailers, while often comprising less than 5 per cent of a company’s total email volume.
With online shoppers’ inboxes overflowing, timely, relevant emails tied directly to consumer behaviour will deliver much higher results than broadcast emails, says Silverpop. In fact 80 per cent of survey respondents reported an open rate of 21 per cent or higher for cart abandonment reminders while only 31 per cent experienced similarly impressive results from their general broadcast emails. And even more impressive is the impact these programmes have on conversion (and ultimately revenue), with 45 per cent of survey responders reporting that their cart recovery emails yielded a conversion rate of 11 per cent or higher— nearly four times that of their corresponding broadcast emails.
However the survey results highlighted room for improvement in the areas of frequency and timing with the following findings: 83 per cent of survey responders waited five or more hours to send the first recovery email; 61 per cent wait more than 24 hours to send the first cart recovery email; and 67 per cent only send a single cart recovery email
The benchmark survey also indicated a high level of interest in other transaction-based messaging, such as post-purchase emails. Nearly three-quarters of survey respondents send a notification after a sale is completed, with service satisfaction surveys (50 per cent) and product review requests (43 per cent) popular examples. However, there is still room for growth in this area as well. Only 2 per cent are sending notifications that the review has posted, missing an additional opportunity to engage with the consumer, and possibly increase revenue even further.
Silverpop works with a range of clients across the UK, US and Europe including Air New Zealand, Continental airlines and fashion online retailer Oki Ni.
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