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!
Amazon is well known for its personalized recommendations, both on the site and delivered by email, but they don’t always get it right.
Take a look at this browse abandon email I received from Amazon on my PC and on my phone:
There are some things about this email which are best-in-class:
Amazon personalized the email by prominently featuring the image of the product I had previously evaluated
They used responsive design, delivering an email perfectly sized for my mobile device
They suppressed the secondary call to action so my attention is drawn to the main activity they would like me to pursue
However, Amazon also made a major mistake with this email that plagues many companies who build their remarketing tools in-house: they are out of step with the visitor!
You see, in the Amazon example above, I had already purchased and received a PC headset from Amazon, just a few days before I got this email.
I only have one pair of ears, so exactly what was Amazon thinking? Perhaps through some super-advanced profiling they were able to determine that I have a dog, and that I might need an extra headset for him? I can tell you that I tried it on him and he didn’t like it very much…
On a more serious note, out-of-step problems like this hurt a retailer’s relationship with their customer. By sending an email that is no longer appropriate, they make the customer:
Question if their purchase actually was completed with the retailer
Feel like perhaps they made a bad decision and purchased the wrong product
Wonder if the brand has a disorganized and inaccurate tracking and recommendation system
In a nutshell, sending promotions for an item that the customer has just bought will betray your brand and could potentially lose you a customer for life. (…)
We are very excited to introduce the newest product to be added to the SeeWhy suite of high ROI applications: Browse Manager. SeeWhy’s Browse Manager is the first of its kind: it is the first real time software that triggers real time personalized marketing campaigns based on a shopper’s everyday website browsing behavior. The press release can be found here.
SeeWhy Conversion Manager, our market leading real time ecommerce shopping cart recovery software service, targets cart abandoners, while SeeWhy Browse Manager targets visitors at the top of the conversion funnel, before they reach the cart.
Browse Manager focuses on individual visitors browsing behaviors that signal intent to purchase or affinity with a particular product or product category. These are the visitors who haven’t gone as far as adding something to their carts, but represent a significant opportunity for eMarketers. Because there are many more visitors at the top of the funnel, these campaigns reach more potential purchasers than a cart abandonment campaign can.
This means that individual visitors browsing behaviors can now be used directly to trigger real time 1-to-1 campaigns. Gone are the days of ‘blast’ marketing where marketing messages are blasted out to large audiences in the hope of securing a 2% conversion rate. Now your marketing campaigns can be directly relevant to each individual member of your target audience, transforming marketing communications into a precision marketing tool with spectacular ROI.
Browse Manager is fully integrated with Conversion Manager so browsing and cart abandon campaigns are fully co-ordinated and never out of step with what the customer is doing. Browse Manager also includes SeeWhy Slider, which is an onsite email capture service which significantly increases the numbers of browsers in your campaign.
Top 3 Key Features of Browse Manager
Jumpstart the Shopping ProcessAs Soon As Possible: Our research has shown that less than 1% of first time visitors will convert and only 3% of all visitors, first time or returning, will actually buy. (…)