Email retargeting makes a difference when it comes to getting your email marketing campaigns to be really effective. If you have an online store to sell your products, this tool can help eliminate one of the most common problems of ecommerce: the abandoned shopping cart.
Spain is the fifth European country with the highest turnover of ecommerce, but it is not free of dropouts: according to different sources, between 55% and 80% of users are leaving their purchases unfinished. The most common reasons are:
- Shipping costs are too high.
- You want to know the final amount, but are not ready to buy.
- The user wants to make a shopping list to buy at a later time.
- The online store does not offer the desired payment method.
- Some external factor interrupts the user before he or she can finish.
The good news is that if you remind the user that they have a pending purchase, between 15% and 25% of abandoned carts can be recovered. It is therefore essential to create an automated and personalized retargeting email campaign, that is able to segment the users based on different criteria:
- What which step was the process abandoned? If the problem is the shipping, maybe we can offer a discount.
- Is it a repeat purchase, or a first time customer?
- What product or products were in the abandoned cart?
- What was the total value of the order? Is it enough for shipping to be free?
Retargeting Emails in retail: a missed opportunity
According to a study conducted in April 2015 on ten major fashion brands in Spain, the retail sector is lucky when it comes to email marketing: the open rate of emails is 22.3% and click is 6.14%, spectacular figures when compared with other sectors. In addition, email has the highest ROI of all channels: obtaining $28.5 of benefits for every dollar invested.
However, it is clear that the retail sector is not exploiting the possibilities of email retargeting, as none of the ten brands studied had a recovery strategy for abandoned carts. Customization reached even the most basic aspects of email: only 2 of the 10 brands using the user name, a very simple technique that increases both open rates and interaction. In conclusion, if you manage an online store in the fashion industry, you have a very easy way to get ahead of the competition by retargeting. Do not miss this opportunity!
Photo by Serge Kij (Flickr)