Today’s deal-savvy shoppers are utilizing price comparison applications and search strategies across channels to ensure they’re receiving the best buy. As a result, many retailers aren’t achieving optimal ROI due to abandoned shopping carts and lackluster conversion rates. Men’s and women’s apparel retailer Lucky Brand is among the retailers that have implemented remarketing strategies to address this trend. By implementing the SeeWhy Conversion Manager, the company doubled online conversion rates and tripled revenue from its e-Commerce site.
SeeWhy’s Conversion Manager helps retail marketers track web site visitors in real time and trigger one-to-one follow-up emails shortly after a shopping cart is abandoned. Prior to implementation of the SeeWhy platform, Lucky Brand leveraged a standard batch-based remarketing solution that wasn’t reaching potential buyers successfully, according to Charlie Cole, VP of Online Marketing for Lucky Brand.
In an effort to drive more profit from its online storefront, the retailer integrated the SeeWhy Conversion Manager with its Demandware-powered e-Commerce site, and email service provider ExactTarget. Following implementation, SeeWhy ran an A/B split test to measure campaign improvements accurately, according to Charles Nichols, Founder and CSO of SeeWhy. To date, Lucky Brand has increased conversion rates by 100% and boosted online revenue by 300%. Furthermore, the retailer improved remarketing email open rates by 15% and experienced a 10% spike in click-through rates.
With the new solution, Lucky Brand sends remarketing initiatives in a timelier manner to encourage shoppers to complete purchases. “After any abandonment, the first few hours are critical, with up to 90% of the leads going cold within the initial hour,” Nichols said. “The previous campaign was powered by a batch-based web analytics architecture. In practice, this means that the recovery emails were sent 24 hours after visitors had abandoned their shopping carts. Now, Lucky Brand can track all customer activity on e-Commerce sites in real time; this enables remarketing emails to be sent immediately following an abandonment, which drives more revenue.”
Although Lucky Brand executives anticipated that the partnership would boost purchase rates and basket size, a top goal of the implementation was to drive a more personalized, engaging brand experience for loyal and prospective customers, noted Cole.
“Initially, the ROI was a tremendous, motivating opportunity,” Cole said. “However, a better customer experience also is very important. People are more inclined to buy something they actually want if they follow their first impulse, so it makes sense to send a reminder when the thought is still fresh in their minds.”
“Customers tell you so much solely in how they interact with your web site and respond to your marketing,” Cole said. “This should drive your decision-making regarding how to deliver that marketing as well as how not to present it. If you show a customer something five times and they don’t open, click or engage with it, stop showing it to them.”