Retailers lose 18 billion in revenue annually due to shopping cart abandonment, and 90% of online leads go cold after one hour.
Learn how to use Google Shopping and proprietary customer retention strategies to regain cart abandoners and prevent shoppers from leaving at all part of the conversion funnel.
Beginners Guide to TikTok for Search - Rachel Pearson - We are Tilt __ Bright...
Act on Cart Abandonment Webinar: CPC Strategy & UpSellIt
1. Rick Backus
CPC Strategy
Co-Founder & CEO
Acting On Cart Abandonment
Customer Retention: The Secret to Long Term eCommerce Success
Max Loewenthal
UpSellIt
Director of Development
2. WEBINAR HOUSEKEEPING
Webinar Recording &
Questions
Stay tuned for recording email
Q&A following the presentation
Chat box to the right
Mary Weinstein
Director of Content
mary@cpcstrategy.com
3. Founded in 2007
Manage over 35 Million in Ad Spend
Top 50 Fastest Growing Company in San Diego
We Create the Best eCommerce Content on the Planet
ABOUT CPC STRATEGY
Retail Search Resources: http://cpcstrategy.com/resources-retail-search/
4. WEBINAR HOUSEKEEPING
Max Loewenthal
UpSellIt Director of Business Development
mloewenthal@upsellit.com
Shopping Cart Abandonment expert
10+ years PPC & customer revenue
recovery
MBA from Pepperdine University
5. WEBINAR HOUSEKEEPING
Rick Backus
Co-Founder, CEO
rick@cpcstrategy.com
Speaker at IRCE 2013
Speaker at SearchLove San Diego
Monthly Retail Contributor for Search Engine Land
On Twitter @CPC_Rick
Presenting at SearchLove Boston on April 8th
6. What We’ll Cover
Key Customer Acquisition Programs
The Retail Funnel
Customer Retention Strategy
7. All Products
Google Product Listing Ads
Google Product Listing Ads Guide
http://bit.ly/1lvY1gm
Google PLA Guide 2.0
http://bit.ly/1kfuasp
ACQUISITION PROGRAMS
There are over 1 billion products on Google Shopping
Google PLA clicks increased 200% YOY since Sept (2012)
PLAs are available in 23 countries globally
8. Google Shopping Is Now Paid
Display ads have a 22% higher click-through rate than traditional text ads
Google Shopping accounted for 13.28% of Site Traffic (2013)
Google Shopping accounted for 12.21% of Site Revenue
#Tweetable Google PLA Facts
ACQUISITION PROGRAMS
2013 Google Ecommerce Research Study
http://bit.ly/1cRxftw
9. Google Dynamic Remarketing
CUSTOMER RETENTION STRATEGY
2% of web traffic converts on the initial visit
95% of site traffic doesn’t convert
67% of online shoppers abandon the cart
$18 billion is lost annually due to Shopping Cart Abandonment
The Google Dynamic Remarketing Guide
http://bit.ly/1iwFZc5
10. THE RETAIL FUNNEL
Convert
= Customer Retention
EDUCATE
CURATE
CONVERT
Mens Shoes
Nike Shoes
Nike Air Max +2013
12. Building a Product Line:
Requires Unique Selling Proposition at the product level
Requires high volume of product reviews
You need a large network of distributers
Profit growth is typically slower than building an experience
As profit grows, pricing enforcement becomes a bigger challenge
CUSTOMER RETENTION STRATEGY
13. Building an Experience
Requires Unique Selling Proposition as a Seller
Requires high volume of seller reviews
Doesn’t work with commodity products (your customers won’t
care)
Requires up-front capital and frequent innovation
Experience must be consistent across the entire conversion funnel
CUSTOMER RETENTION STRATEGY
16. ① About UpSellit
② Types of Abandonment
③ Reasons for Abandonment
④ Optimizing for Abandonment
⑤ Acting on Abandonment
TOPICS
17. • Founded in 2005
• Headquartered in Los Angeles
• 2,000+ eCommerce Partners
• 18M Recovered Conversions
• Increase Conversions Up to 25%
• 100% Pay-for-Performance
ABOUT
18. FULL FUNNEL
REVENUE RECOVERY
Email ReMarketing
Lead Recovery + Email Delivery
Abandonment Chat
Simulated Live Chat Sales Support
Targeted Offers
Highly Personalized Exit Engagements
20. UpSellit, 2013
Slow Load Times
Lack of Trust/
Recogni on
Usability Issues
Display Issues
Other
Misaligned Click Intent
27.5%
21.0%
17.3%
13.4%
13.6%
8.2%
REASONS FOR
SITE BOUNCES
22. with Abandonment Chat
Assist Site Navigation
Usability Issues (17.3%)
Build Trust & Loyalty
Lack of Trust/Recognition (21.0%)
Gather Business Intelligence
Learn Reasons for Bounces
FIGHT THE BOUNCE
23. UpSellit, 2013
Comparison Shopping
Insufficient Info
Sizing/Compatibility Concerns
Quality Concerns
Other
Availability
Lack of Trust
40.8%
22.5%
12.3%
9.4%
6.6%
5.3%
3.1%
REASONS FOR
PRODUCT ABANDONMENT
24. OPTIMIZE FOR
PRODUCT ABANDONMENT
Promote Urgency
Show when limited inventory
Rotate site-wide incentives
Paint a Complete Picture
Easy photo navigation
Show all color options
Answer Buying Questions
Prominently Display Policies
Provide Size/Compatibility Charts
25. FIGHT
PRODUCT ABANDONMENT
with Email ReMarketing
Keep Brand Front of Mind
Comparison Shopping (48%)
Provide Additional Info
Insufficient Info (22.5%)
Promote Return Policies
Sizing/Compatibility Concerns (12.3%)
26. UpSellit, 2013
Product/Shipping Cost Ratio
Additional Charges
Comparison Shopping
Not Ready to Purchase
Unclear Return Policy
Didn't Want to Register
Other
33.1%
23.5%
16.9%
12.3%
6.9%
5.8%
1.5%
REASONS FOR
CART ABANDONMENT
27. OPTIMIZE FOR
CART ABANDONMENT
Provide Shipping Costs Early
Offer shipping calculators
Offer flat rate domestic shipping
Minimize Shipping Costs
Min. Order Qty. incentives
Location-based incentives
Eliminate Additional Charges
Factor all costs into product prices
28. FIGHT CART ABANDONMENT
with Targeted Offers
Minimum Order Incentives
Product / Shipping Cost Ratio (33.1%)
Cross Sell & Down Sell
Comparison Shopping (16.9%)
Dynamic Discounts
Additional Charges (23.5%)
29. UpSellit, 2013
Additional Charges
Excessive Info Requested
Lack of Trust
Process Confusing
Didn't Want to Register
Process Too Lengthy
Lack of Payment Options
Other
23.9%
19.9%
15.8%
13.6%
11.4%
6.5%
5.5%
3.4%
REASONS FOR CHECKOUT
ABANDONMENT
30. OPTIMIZE FOR CHECKOUT
ABANDONMENT
Streamline The Process
Allow guest checkouts
Auto-populate form fields
Reinforce Trust
Prominently Display Security
Provide Visual Cues
Provide a Clear Path
Show over progress
Provide real-time feedback
31. FIGHT CHECKOUT ABANDONMENT
with Email ReMarketing
Provide Targeted Incentives
Additional Charges (23.9%)
Build Trust with More Info
Lack of Trust (15.8%)
Pre-Populate Forms
Process Too Lengthy (6.5%)
32.
33. Complete Abandonment Analysis
Identify problem-areas in your funnel
Custom Traffic Segmentation
Learn which customers are least likely to return
Targeted Strategy Development
Segment messaging and incentives
Opportunity Projection
Identify probable revenue increases
DATA-DRIVEN CUSTOM CAMPAIGNS
Mary: We’re excited to get started, but first some quick housecleaning before we begin. My name is Mary, and I’m the Content Director here at CPC Strategy. My job is to find, create and share useful content for you. So please feel free to reach out to me with any questions during or following the webinar. I am a bit chatty, and have an unhealthy relationship with both coffee and bacon, but I’m mostly harmless. We will be recording this webinar, so stay tuned for an email follow up later this week. Additionally, if you have any questions during the webinar, there will be a brief Q&A following the presentation. To ask questions, you can use the chat box to the right.
With over $35 milliion a year in managed ad spend, CPC Strategy is dedicated to creating order out of the chaos that is online search. Whether its optimizing PLAs for a higher ROI, or highlighting Google best practices for our readers, we are the knowledge source on Google Shopping, and we’re here to help. Our main goal is to provide you value- so please reach out with any questions, or areas of retail search that you’d like to read about and we’ll put Biff to work.
Mary:Our featured speakers are Rick Backus, CPC Strategy Co-Founder and CEO, and Max Loewenthal
Mary:Our featured speakers are Rick Backus, CPC Strategy Co-Founder and CEO, and Max Loewenthal
With over $35 milliion a year in managed ad spend, CPC Strategy is dedicated to creating order out of the chaos that is online search. Whether its optimizing PLAs for a higher ROI, or highlighting Google best practices for our readers, we are the knowledge source on Google Shopping, and we’re here to help. Our main goal is to provide you value- so please reach out with any questions, or areas of retail search that you’d like to read about and we’ll put Biff to work.
Explain similarities of us helping to maximize marketing / conversion opps for our advertisers and this should be beneficial for both companies’ current and prospective clients.Take a look at our blog at blog.upsellit.com and follow us on LinkedIn, Facebook, and Twitter.Many topics I’ll touch on today are covered in more detail in our online resources.BRYAN ADDED ICON for our eBook so reiterate that the audience can download our latest eBook re: abandonment tips, tricks and best practices.
Set the stage, UpSellit defines abandonment with more granularity than many marketers might commonly use when discussing this topic. The different types of abandonment we’ll discuss align with the different STAGES of the typical conversion funnel.I’m going to define each… Abandonment Type Reasons for each TYPE Ways advertisers can optimize to mitigate each TYPE Ways advertisers can ACT on abandonment, leveraging UpSellit’s powerful services (tech and human)
Background on USI:US, CAFounded 2005, over 18 million recovered conversions
Campaigns and clients all over the world, all languages, multiple solutions (dynamic email, targeted offers, automated chat, and more)
As mentioned previously, these different types of abandonment are based on the abandonment point within the conversion funnel.Site Abandonment is our general, catch-all termSite, Product, Cart, and Checkout are the specific stages broken down based when the user leaves the site…
Highest level of the funnel, here, which means Site Bounces are based on reasons one would associate with “first impressions” upon web site arrival.(next slide discusses LACK OF CLEAR CTA)
TinyPNG: webapp to reduce image file size as much as 70% (pictured to the left)Minify: app to condense multiple CSS files into one file and remove unnecessary charactersProvide One, Clear CTA (lenovo hero features this traitEnhancing usability and user experience is no simply task. A couple common guidelines can be found in the 2 accronyms on screen here:MAYA: Most Advanced, Yet Acceptable. No experimental experience, stick with the familiar. Evolution, not revolution. KISS: Keep it simple, stupid. Provide a clear and direct path to conversion. Minimize distractions and overly-complicated options.
IN PARALLEL TO OPTIMIZING YOUR SITE PAGES TO REDUCE BOUNCES, YOU CAN LOOK TO A PARTNER LIKE UPSELLIT TO HELP FIGHT ABANDONMENT TOO.INTRO UPSELLIT’S AUTOMATED CHAT SOLUTION. This will engage users the moment they abandon a site in order to provide assistance and sales encouragement…Assist Site Navigation – With usability as a top reason for a site bounce, Abandonment Chat reduces abandonment by directly visitors to the info/products they were looking for..Build Trust & Loyalty – Providing instant, accurate answers to visitor questions will build trust and loyaltyGather Business Intelligence – learn why customers were leaving, and segment reasons by geo-location, traffic source, etc.
PRODUCT ABANDONMENT IS 2nd level down in the conversion funnelAt this stage, user knows a product or SKU so their reasons for abandonment may be related to those seen on this chart….
Promote Urgency: make note of limited availability, exclusive offers, Paint a clear picture: Allow users to quickly and easily browse mult photos. Consider mobile devices for both file size and navigationprovide mult (quality) photos, show different color options, don’t rely on manf. descriptions, provide colorful product descriptions (which also good for SEO)
AGAIN, PARALLEL TO YOUR OWN OPTIMIZATION EFFORTS, YOU CAN FIGHT PRODUCT ABANDONMENT using UPSELLIT…Visitors abandoning a product page are probably in the consideration phase where they are comparing different products and vendors. Provide incentive to gather emailsUpsellit sends perfectly timed dynamic emailsRelated productsEducate users about return policiesStay top of mind for consumer
3rd in the funnel is CART ABADNONMENT Reasons here are magnified from previous stageMeaning, user I comparing other resellers and has even more intent associated with a particular item
ComScore study stated that 54% of respondents felt that shipping costs made the total cost more than expected. Provide Shipping Costs Early: Calculator is a good ideaBalanced Shipping Costs: Make sure you include the least expensive shipping option, abandonment rates spike when shipping costs exceed 15% of the AOVOffer free shipping: 55% of online shoppers have come to expect free shipping (ComScore)Minimum Orders: (incentivize customers to spend more to get incentives and drive larger AOVs)Factor All Costs In: Present any additional charges before the visitor begins checkout. Sneaking in last minute charges will only reduce profitability.
Armed with the knowledge about how to optimize against cart abandonment, you can also use UpSellit’s leading tools to help REMINDER: these aren’t the only ways we can reduce abandonment and these are not our only solutions… just an example of one way we can reduce abandonment.
LAST STAGE is Checkout abandonment, these are the final funnel pages typically associated with personal info, shipping details, and of course… payment.Various reasons for abandonment are listed above (list some)
Auto-Populate CITY AND STATE: by collecting a user’s ZIP code first, you can eliminate the need for them to type out their city, state, countrySpeak Security: ie: say secure checkout instead of simply checkout. Visual Cues to reinforce security: inset areas of sensitive information in greyed out boxes, use padlock icons and secure badges, TRUSTe, McAfee, BBB and Norton badges have also proven to have a profound impact. Clearly Define the Process with something like a progress bar:Real-Time Feedback with checkmarks and error messages when appropriate: provide a checkmark if info is entered correctly, display errors before
DISCUSS using PRECAPTURE AND QUICKCONNECT, UPSELLIT’S PROPRIETARY EMAI LREMARKTING SOLUTIONS.
RECAPSTAGES OF FUNNEL ARE IMPORTANTYOU CAN OPTIMIZE BUT UPSELLIT CAN HELP REALLY FIGHT MOST EFFECTIVELYONLY LIMITED PRODUCT OVERVIEW TODAY, WE ENCOURAGE TO LEARN MORE ABOUT UPSELLIT’S SERVICESWE HAVE GIVEN AN OVERVIEW WITH EXAMPLES OF OUR SOLUTIONS AT EACH STEP, BUT REMEMBER THAT WE DEVELOP CUSTOMIZED CAMPAIGNS AT EACH STEP USING OUR CORE TECHNOLOGIES LEVERAGED IN DIFFERENT WAYS.
Talk about UpSellit’s campaign development, optimization, and above details
Thank you and come learn more
With over $35 milliion a year in managed ad spend, CPC Strategy is dedicated to creating order out of the chaos that is online search. Whether its optimizing PLAs for a higher ROI, or highlighting Google best practices for our readers, we are the knowledge source on Google Shopping, and we’re here to help. Our main goal is to provide you value- so please reach out with any questions, or areas of retail search that you’d like to read about and we’ll put Biff to work.