Shopping cart abandonment is a top pain point retailers across verticals face daily. In fact, approximately 80% of all online transactions are discarded before transaction, according to research from Rejoiner, an email retargeting solution provider. To stand out among competitors and bring shoppers back to the e-Commerce site, retailers are implementing compelling and relevant marketing strategies.
VTech Electronics, a provider of electronic learning toys, has partnered with Rejoiner to develop personalized retargeting emails that engage consumers and recover lost online sales. The relationship kicked off with a campaign during the 2012 holiday season that recouped $63,000 in revenues by encouraging targeted shoppers to finalize uncompleted transactions. The initiative also encouraged a 32% aggregate open rate, as well as an 11% click-through rate.
Within the first few weeks of implementing the Rejoiner platform, VTech recovered “a significant portion of our holiday revenue,” according to Mike Reall, Director of E-Commerce at VTech. “The conversion rate of Rejoiner traffic was 8.9%, and average order value was 10% higher than other orders.”
Due to this success, VTech is continuing to work with Rejoiner to tackle shopping cart abandonment. “These emails alone are driving 2% of overall site revenue, with a recent conversion rate of 10%,” Reall said in an interview with Retail TouchPoints.“These results actually are better than what we experienced during the 2012 holiday season.” (Editorial note: At time of publishing, the VTech parent company in Hong Kong took over all e-Commerce operations.)
Driving Consumers Back To The E-Commerce Site
For the holiday email campaign, VTech sent consumers personalized offers and calls-to-action 10 minutes, then 24 hours after they abandoned their online shopping carts. Focusing on parents between the ages of 25 and 44, VTech taped the Rejoiner platform to “retarget customers and, if appropriate, offer a compelling promotion as an incentive to get them to return to our e-Commerce site,” Reall said. “Because our customers are frequent comparison shoppers, being able to get them to return quickly is key to winning the purchase.”
Reall and the VTech marketing team tested a variety of messages for the holiday-focused retargeting campaign. In one message, VTech provided a breakdown of active promotions available on the e-Commerce site. Another more personalized email showcased photos of the items that were left sitting in the customer’s cart when it was abandoned.
“The latter email actually did not perform as well as the first,” Reall stated. “It was apparent that customers relied on promotions related to potential purchases, so we then created a hybrid of those two messages, showing a list of the items in the cart along with any relevant promotions.”