The ever-evolving landscape of technologies and terminology ecommerce marketers are tasked with navigating is utterly dizzying. It’s tough for a vendor delivering distinct functionality and dozens of integrations to help trim the chaos. So, here is a level set about what we do and why.
SeeWhy “rapidly improves conversion rates across channels by automatically triggering the right marketing message on the right channel at the right time.” There’s a clear need for the technology and the ROI it yields.
MarketingSherpa asked online businesses in 2013 what types of automated emails they send. The study, summed up in Marketing Land, found that about 75% of businesses are missing out on the email marketing “sweet spot,” which was explained as sending targeted marketing messages based on what your users do. This spot falls between direct marketing emails that yield a 20% open rate and transactional emails, which yield about 52%, they reported.
Remarketing is the use of behavioral marketing campaigns triggered by website visitors’ onsite behaviors via email, advertising and phone. The best practice elevates marketing from irrelevant noise into personal service – extending and differentiating the brand, and stimulating purchase.
With remarketing, any number of behavioral signals should trigger real time marketing, such as:
Likes product on Facebook
Adds to wish list
Adds to cart
Requests link to cart
Shows EXIT intent
On average, 8% of shoppers will return to buy if you do nothing (organic recovery). However, ecommerce marketers will see 18% additional recovery with Remarketing.
Two-to-three times more abandoners will buy when re-marketed to. However, the greatest impact occurs in the first few hours after the shopper has indicated intent. According to a MIT study, 90% of ecommerce leads go cold within ONE hour, making the ability to capture and then act on/trigger a 1-to-1 campaign for any of the behaviors outlined above is critical for conversion. (…)
Showrooming (when consumers check online prices when in store) used to be considered a potential threat for retailers, but new research shows that showroomers are almost twice as likely to purchase in store than from an online competitor.
How many mobile purchases are actually taking place while consumers are in stores? Who is showrooming? When? What are they doing? And, how can retailers capitalize on the behavior?
The SeeWhy Conversion Academy surveyed more than 60,000 U.S. consumers about online and mobile shopping behaviors. We’ve published findings from the study in two Digital Commerce Reports that reveal how men and women, spanning incomes and locations, browse and buy when considering a purchase. One of the reports, Showrooming Realities:When Worlds Collide, which includes key takeaways for retailers, can be found here.
Here are some study highlights:
#1 – Showroomers are almost two times as likely to purchase from the retailer in store or online (38%) than to buy elsewhere (21.6%). It’s not so scary after all, particularly for omnichannel retailers.
#2 – Most shoppers are checking prices and reading reviews. One third of shoppers with mobile devices have used them for showrooming. The most common uses are to check prices online and read reviews online.
#3 – The demographics are important. The typical showroomer is a young, affluent, urban, male who will check reviews using his iPhone and then proceed with purchasing the item in store. Most often, women are looking for coupons or promo codes online. The least affluent shoppers are most likely to purchase from an online competitor and more affluent are more likely to purchase in store.
Four key learnings for retailers include:
Get ‘close enough’ on price to online competitors. Customers want to touch, feel, smell or try on many products before purchasing and the instant gratification of getting the product instantly is highly compelling.
We’re all familiar with the common remarketing tactic where retargeted brand ads follow you around the web. Some of us will actually add an item to a shopping cart and show clear intent to purchase, but within half a day, three quarters of us will have lost interest, never returning or buying.
Abandon rates don’t need to be so dismal. The marketers striving for Gold in conversion seek out a deeper understanding of each buyer’s behavior, measure how well the ads work, AND add speed to the mix – realizing upwards of 9x better conversion.
Winning requires speed. You need to reach these prospects fast while they remain interested in your brand and products. In advertising terms, we’re talking about a minimal few hours to find your visitors on other websites – thus why Real Time Bidding (RTB) is the crux of retargeted display ads. RTB lets you buy the ads served up to your found visitors on the web so that you only pay for the media impressions that you really want. You can focus your budget on the highest value prospects right when visitors are most likely to buy.
Train with some best practices in retargeted advertising:
Recovering and converting buyers has to be done at Olympic speed. The secret to winning comes from finding the highest quality prospects ASAP and hitting them hard. RTB lets you do exactly this, but is only half of the strategy. Finding visitors fast also means that you need to be listening on as many of the major ad exchange bidding streams as possible. That way, you can pick and choose which impressions you want to bid on, since you now have choice across a broad number of publishers.
Even today, it’s tough to figure out which half of every ad spend is the wasted half. (…)
Mobile conversions on smartphones and tablets grew rapidly in 2013, and now account for 19% of ecommerce conversions, representing a growth rate of 46% over the last 6 months. This growth can be attributed to widespread adoption of smartphones and tablets, ‘always on’ shopping, and changing consumer behavior.
One element that is often overlooked in understanding mobile conversions is the traffic source. Analysis by the SeeWhy Conversion Academy team of more than 150m web events in December shows that a staggering 62% of smartphone conversions came from an email.
By contrast, 21% followed a link to the site and arrived on a product page, 12% went straight to the site by entering the web address, and 5% via a search engine (though this is probably understated due to Google’s obfuscation of search terms).
That almost two thirds of conversions come from an email is a significant finding for marketers looking to drive more conversions on mobile.
There are two main reasons for email being so dominant in driving mobile conversions:
(1) Remarketing emails carry identity and context across devices
A consumer that browses on a desktop device but doesn’t purchase, and then receives a remarketing email will more than likely open it on their mobile device – more than 50% of consumer emails are now opened on a mobile device. Clicking through from the email passes both their identity (in the form of their email address) as well as products they were browsing or were added to their online shopping cart. This enables the shopping cart to be reconstructed on the mobile device, recreating the desktop session and enabling them to pick up from where they left off. The passed through identity also means that the session can be personalized, and when it comes to checking out, eliminates the need to enter account (and possibly payment and address) details. (…)
Total attendance reached a record high of close to 9,600 people, making it the world’s largest e-commerce event. And, SeeWhy was front and center making a BIG splash as the market leader in Shopping Cart Recovery.
SeeWhy Size Matters? Note the look of surprise coming from our very own CEO, Scott Silk!
SeeWhy’s Founder and Chief Strategy Officer, Charles Nicholls, unveiled SeeWhy Browse Manager, the first solution that triggers personal marketing campaigns in real time based on a shopper’s everyday website browsing behavior. Learn more about Browse Manager.
We ran a live Twitter photo stream in our booth to encourage booth visitors to enter into our “Size Matters” competition. After the show, we gave out gift cards to the following loyal @SeeWhyInc Twitter Followers. Click to check out their entry photos!