You know when someone tells you you’re amazing and that anyone would be lucky to have you, and then you never hear from them again? That’s kind of what cart abandonment feels like. To take away some of that sting, you can send them emails to hopefully bring them back. And to do that, you’ll need the help of some engaging abandoned cart templates.
Before we get to those, let’s cover some of the basics when it comes to these email campaigns — like why they are so important to your retention marketing strategy.
With cart abandonment rates as high as 80 percent for some companies, that’s a lot of revenue you are missing out on if you aren’t doing something to bring them back. That’s why it’s imperative you set up an automated cart abandonment email series to send those wayward shoppers back to their carts to convert.
But don’t just take our word for it. Check out some of these encouraging abandonment rate statistics that will help you forget that 80-percent one we threw at you already:
Those stats show you that when you reach out to customers with a targeted message after they take action, you can get results. You’re able to recognize when a customer is interested in a product (they did just add it to their cart, didn’t they?), and you can then reach out to them and send them to their cart.
Ready to start experiencing some of those numbers for your brand? We’ll walk you through ways to do that in this guide, covering topics including:
We’ll share tips, techniques, abandoned cart templates, and more that will help you improve the effectiveness of your abandoned cart emails.
The shopper has browsed your site, added one or more items to their cart, and left for some unknown reason, never completing their purchase. For example, we’ve added this item to our cart on Amazon. But instead of clicking the button to checkout and providing our billing and shipping details, we left the website altogether.
The idea of “cart abandonment” is the equivalent of someone walking into a brick-and-mortar store, putting items in their cart, and then leaving before heading to the checkout counter.
It’s pretty straightforward, but that doesn’t make it hurt any less. Luckily, there are things you can do to bring them back, and one of the best methods is via email.
This type of email marketing campaign helps you recapture lost sales by engaging shoppers who abandoned their carts. Basically, the email reminds them to complete their transaction — of course in a nice, fun way.
If you’ve ever added a product to your cart and then ditched it, you’ve seen exactly what we’re talking about. They have subject lines like, “Did you forget something?” or “Your cart misses you.”
Inside the email, you’ll most likely find some engaging copy that encourages them to head back to their cart, along with a photo and description of the product(s), and at least one CTA. Some brands also include information on their shipping, returns, and other selling points at the bottom of the email.
Abandoned cart emails are examples of automated campaigns. Here’s how they work:
So once the shopper adds an item to their cart and leaves your site, the platform will register this action (or lack of action, really) as an abandoned cart.
E-commerce sites like Shopify and BigCommerce will automatically track the shoppers’ actions and metrics, making your job that much easier. (And Retention.com has integrations with both of those platforms that allow you to track your revenue from contacts we provide.)
Some of these e-commerce platforms have basic abandoned cart emails, but you can also integrate with your email service provider (ESP) to create and house them there. That will give you more options when it comes to abandoned cart templates. You will simply need to integrate your e-commerce shop with your email marketing tool to create fully customizable, multi-step email campaigns that send multiple emails at certain times based on when they abandoned the cart.
Whether you use the basic abandoned cart templates available in the e-commerce platforms or in your ESP, these will automatically be sent out to potential customers who have abandoned their carts.
While you will be more limited when it comes to abandoned cart templates on sites like Shopify, BigCommerce, and WooCommerce, you can use these platforms to send your abandoned cart emails. So, we’ll walk you through how you can create emails on these platforms.
You’ll find some basic functionality on Shopify when it comes to creating and managing your abandoned cart emails by going to Settings > Checkout (under Abandoned Checkouts). However, if you want to be able to control the abandoned cart templates and content, you’ll have to install an app like Consistent Cart App, Abandoned Cart Recovery, Jilt, or Privy.
Since WooCommerce doesn’t have built-in functionality for cart abandonment emails, you could use either the platform’s official extension, Follow-Ups, or a free plugin like Abandoned Cart Lite for WooCommerce.
If you go with the plugin option, you’ll see a new section in your WooCommerce dashboard: Abandoned Carts. That section will be where you can check recovered carts, edit your email content, change the sending settings, and other features.
Of these three e-commerce platforms, BigCommerce is the only one that gives you full control over your abandoned cart emails. You’re able to control the email design — like what products, text, and images they include — as well as how many emails and when you send them. You’ll find the settings in Marketing > Abandoned Cart Notifications.
If you want to go beyond basic abandoned cart templates and settings, it’s time to turn to a third-party ESP. That will give you full control over the look, text, and automation functions.
You can integrate your ESP with your e-commerce platform making it a seamless transition: They leave something in their cart, and the ESP triggers an automated email campaign series that will (hopefully) bring them back to their cart. There are dozens of ESPs to choose from, so find one that best fits your needs.
Now that you have a way to send shoppers an abandoned email, you need to know what tactics that email should include to increase your chances of bringing them back. Here are six ways to boost your recovery rate.
Now, let’s dive into each of these techniques a bit more to see how you can implement them into your cart abandonment email strategy.
In this day and age, it’s harder to earn online consumers’ trust because they’ve become accustomed to scams and unprofessional business practices on the Internet. If they’ve never done business with your brand before, you have to work even harder to earn their trust if you expect them to return to their cart and make a purchase. They aren’t going to turn over their credit card information to just anyone.
You can do that by showing them customer reviews and ratings for the product(s) they left in their cart. Make sure your site and emails look professional and include the basics: physical address, reply to email address, logo, and any payment verification information (showing it’s safe for them to use their credit card on your site).
Everyone loves a good discount. That’s why you see so many abandoned cart emails that offer shoppers a deal if they come back to their cart. For example, “We have great news! That [PRODUCT] you liked is now 20 percent off!”
But as consumers become accustomed to this tactic, it can lose its effect. So, instead of offering them a deal, try a different approach by giving them rewards in your loyalty program. Again, this is something you can try out to see if it works better than your regular discount message.
You could give them enough rewards points to move up to the first/next tier in your loyalty program — which then gives them a discount. Maybe 100 points is enough for a 10-percent discount. Or, 200 points will give them a $10 discount. They are still getting a deal out of returning to their cart and making a purchase, but you go about it in a different way — and they are able to move up in your program in the process.
It can be tempting to include both the item they left in their cart and also other recommended products in an attempt to up-sell the shopper or catch their attention. While it’s a good practice to try different approaches with your cart abandonment emails, try only focusing on one product when they add multiple, similar items to their cart.
For example, if a shopper has five different computers in their cart, you can bet they don’t plan on purchasing all five of them — or at minimum, they don’t have equal purchasing intent for all of them. So, your abandoned cart template could include one of the items as the main image, along with the product description.
Sending one email letting them know they forgot something in their cart is most likely not going to be enough. Just like you would send someone multiple welcome emails, you need to create an automated series to engage shoppers who have left items behind.
Don’t wait too long before sending the first email in the series. The moment an online shopper leaves their cart, your opportunity to engage this potential customer is narrowing. To make the most of this opportunity, make it a priority to reach out to shoppers within the first hour of cart abandonment. Make this part of a three- or four-email sequence to engage with the shopper.
For example, the first email can go out an hour after they abandon their cart. Then, the next one can follow up one or two days later if they don’t complete their purchase, using a different approach with the email’s content and approach.
If both of those email attempts don’t work, you can try a third (or fourth) campaign that focuses more on the product’s category or general new products. They might not have been that interested in what they added to their cart, so taking a more general approach might be a better way to engage them. The third or fourth email attempt is more of a last-ditch attempt to re-engage with a shopper who has been unresponsive to the first ones in the series.
Sending more than three or four runs the risk of annoying the recipient and getting placed in their spam folder. And we all know that’s the last place you want your messages to go.
There’s nothing like a reminder that a certain deal is about to expire or that the product in their cart is about to sell out to push them to take action. Use that fear of missing out and urgency as a marketing tactic.
Subject lines are a great place to include this method:
You can also let them know they only have a certain number of days until the items will be removed from their cart. And who really wants to have to go and add them back, right? Find a way to motivate them to head back, sooner rather than later.
There are a dozen reasons why they may have left their cart behind. Maybe they changed their mind or found something else they liked better. There’s not much you can do about those two things, but there are other potential roadblocks you can remove and/or address to get them back:
The more potential issues you can eliminate and be proactive about, the better your chances are that they will come back.
One of the best ways to get ideas for your brand’s abandoned cart emails is to see what other brands are doing and what templates are available in different ESPs. So, we’ve put together a list of templates and real email examples to get your creative juices flowing. You can find others in your ESP’s template library, depending on which platform you use.
We’ll also show you what we like about the actual examples and what they could have done better.
Robly has several pre-designed abandoned cart templates, in addition to other template options you can design to be for abandoned cart emails. Here’s the first of three template examples we’ll show you:
And being a template, you can edit the text, colors, images, links, and everything else to best brand your email.
Obviously, you’ll need to change out the photos, product descriptions, branding, etc. with your own materials. But what we like about this template is that it gives you usable text — like “Don’t Forget Me” and “Hey [FNAME], looks like you left some great items in your cart! Don’t worry, we’ve saved them for you below.” The CTAs even fit the content, so you can use what’s already there.
Subject line: Go ahead, take another look
This email from Topo Designs doesn’t scream “abandoned cart,” but that helps make it different and less forceful. (Though the subject line does allude to it.) When you first look at it, the email seems to be about offering customers a deal on items the brand thinks they will enjoy. But when you scroll down, you see that there’s an item that was left in the cart.
The approach in this abandoned cart template would be especially effective if it was used in the second or third email in the series.
What else we like:
What could have been better:
Another Robly option, this abandoned cart template shows how the email design can be as targeted and personalized as the text. The header image is a pair of headphones, the same thing they added to their cart.
Sure, you might not be able to have an image like that to match each product, but you could probably create one for your main categories — like a shirt for the clothing department, a computer for electronics, or flowers for the gardening/outdoors category. Anything you can do to personalize the email, the better.
This template also comes with filler text that you could use as is (after changing out the products and images, of course): “We noticed you found these [PRODUCTS] but haven’t checked out yet — here’s some more details to help you decide!”
The template then includes the product photo, price, a product review, and star rating. And of course, there’s a CTA to take them back to their cart.
Subject line: Nomad Gear is Selling Out Quick
Selling accessories for electronics, Nomad really nails its brand with this abandoned cart email example: “Did your Wi-Fi crash? Fret not — we saved that shiny Nomad product you were just ogling.” The Internet and electronic accessories go hand in hand, and it’s also a lot more fun to read than, “You left something in your cart.”
What we like about this email example:
What they could have done better:
The last of the Robly abandoned cart templates goes straight for a personalized approach with the header having their name front and center: “[FNAME], you left something behind!”
The design then gives you a spot to put the product photo, name, quantity, and price. While it’s not the main focus of the email, there’s also a place to give them a discount code at the bottom.
Subject line: You forgot something
Seeing this abandoned cart email from Public Rec makes us happy that a brand is addressing some of the consumer's top concerns right away. Right after their header text, “Take another look,” they go straight into, “Enjoy free shipping and free returns on all orders.” If a shopper failed to purchase the items in their cart because they were concerned about either of those things, now they know those won’t be an issue and can complete their purchase.
Here are more things we like about this email:
What they could have done better:
Mailchimp also has abandoned cart email templates, which include a default logo placeholder and Cart content block. That block inserts the abandoned item(s) into the follow-up emails. You can also use one of their other email templates. Just be sure to drag a Cart content block into the email layout.
They offer three pre-designed abandoned cart templates:
Here’s an up-close look at one of them:
You can also customize the email information:
Subject line: Your basket is having abandonment issues… 🙁
We were hooked on this email from Jack Wills as soon as we saw the subject line. You don’t want to be the reason your shopping cart has emotional issues as they grow up, right?
They carry over that tone into the email with text like, “Don’t worry, we’ve got you,” and “We know life can be hectic.” So, they prove the subject line isn’t just a gimmick to get the shopper into the email: They stay true to that approach throughout the messaging.
What else we like about this email:
What they could have done better:
Abandoned cart emails allow you to provide a targeted, personalized campaign to already engaged online shoppers. Anytime you can do all of those things, you have a winning recipe for ROI.
One question many people ask, though, is if these emails are too good to be true. In other words, are they compliant? To answer that question, we’ll ask you one:
The CAN-SPAM Act for the United States doesn’t require that a subscriber opt-in to your list, just that they can opt-out to any email you send. That’s why Retention.com can collect anonymous traffic off of your website and send you their contact information so that you can target them with emails. Just remember: This approach only works in the United States and isn’t GDPR compliant, which does require you to have explicit consent to email EU consumers.
To take that a step further, Retention.com is also Spamhaus compliant because, in part, we provide verifiable consent (the source record and opt-in date) of every email we pass along to our users. Those source websites’ privacy policies state that by opting in, the subscriber is agreeing that their information will be shared with a partner network for marketing purposes.
Now that you have a firm grasp on what does and doesn’t work with abandoned cart emails, it’s time to start creating some of your own and adding them to your automation series. Add your brand’s personal touch to the templates so your subscribers know exactly who it’s from, and test different versions until you find the winning combination. And if you want to start collecting engaged, anonymous traffic you don’t already have off of your site, we can help!
Getting customers to visit your site and place items in their cart is only half the battle. According to Baymard Institute, cart abandonment rates average around 70% on most e-commerce sites. Re-engaging even a fraction of these customers can drastically increase a business's revenue. Luckily, there are numerous straightforward ways shopping sites can reclaim abandoned cart revenue.
Abandoned cart emails are nothing new; you’ve likely received these emails from Amazon and other e-commerce sites you frequent. However, many abandoned cart emails feel more like advertisements than personalized messages.
Personalized abandoned cart emails drastically improve revenue potential, especially those acknowledging your customers’ shopping habits. For example, triggered emails that recognize first-time shoppers may read differently than those sent to long-time customers. Emails sent to new buyers can offer introductory gifts or how-to guides, whereas those sent to long-time customers may provide benefits for their loyalty.
Reclaiming abandoned cart revenue gets trickier when you realize how many of your customers are unidentified. In some cases, these customers aren’t on your email list. In other cases, they’re on your email list but aren’t logged in.
Emails aren’t the only way to get a customer’s attention; text messages can be a more engaging medium for retention marketing. Some sign up for website mailing lists using emails they’ve created to collect spam mail. Although abandoned cart emails aren’t spam, some of your contact attempts won’t be seen if you only use emails to engage cart abandoners.
SMS notifications can’t be flagged as spam and are more likely to be seen than emails. Additionally, some studies suggest mobile customers are more likely to abandon their carts than desktop users. Text messages are an ideal way to communicate with your mobile site users.
Personalizing communication is an exercise in futility if you know nothing about your customers. Apps like Retention.com’s Enrich tool can provide valuable information about the people visiting your site. Learning more about your shoppers’ demographics and interests can enhance your email-campaigning efforts.
Knowing whether a customer has a kid, a pet, or a specific hobby will improve your site’s product recommendations. The Enrich tool, combined with your abandoned cart information, is vital to building a customer profile to enhance your triggered emails.
Sometimes, people abandon their carts because they decide an item’s price is too high. Offering a discount can be an excellent way to reclaim abandoned cart revenue. As a matter of fact, some customers abandon their cart specifically because they think they’ll receive a discount.
Popular sites like LifeHacker teach customers to use cart abandonment as a method for buying products at a lower price. It isn’t uncommon for a customer to place a product in multiple carts across multiple sites and buy it from the one that sends them a coupon. Still, you don’t have to cut into your profits to engage customers.
Sites like Amazon observe products that customers leave in their carts and send them emails when they go on sale. This method lets you re-engage cart abandoners while making the most of your planned discount events.
Many customers abandon carts because they don’t want to waste time creating an account. Customer accounts are ideal for collecting emails, phone numbers, and addresses for future engagement campaigns. Still, customers who can’t buy your products without creating an account may choose to shop elsewhere. Guest checkout pages are a simple way to make it easier for customers to shop on your site.
Some customers abandon their carts because the shipping costs catch them off guard. Some sales methodologies suggest obscuring a product’s price by hiding shipping costs until the customer is ready to check out. However, the modern consumer has grown tired of dishonest sales practices.
Although you may not be able to reduce shipping costs, being upfront about them can reduce your abandoned cart rates.
There’s no such thing as a one-size-fits-all approach in retention marketing. You shouldn’t spend time on campaigns that you run blindly. Monitoring your engagement campaigns and investing more time and effort into the methods yielding the best results is essential.
If you’re considering an application or service to help you with customer retention, you should ensure it offers in-depth reporting. Retention.com tracks revenue and ROI weekly and monthly, making it easy to access your needed data. Additionally, Retention.com has valuable insights into the domains, landing pages, and times of day that generate the most emails.
Customer retention refers to the number of people who make repeat purchases from a business. Growth hackers will tell you that by increasing customer retention rates, you can often increase your revenue faster.
The thing is, customer retention can be difficult for e-commerce businesses because there are so many alternatives available for consumers. However, a retention marketing plan can help you improve customer retention and increase your bottom line.
Without retention marketing, you're constantly prospecting for potential customers rather than focusing on building a loyal customer base. The truth is you need to do both, but many e-commerce businesses focus on the new consumer.
Here we discuss retention marketing and industry technology and offer five solutions to keep customers coming back.
Retention marketing focuses on engaging returning customers rather than targeting new ones. The goal is to increase customer loyalty by consistently giving them added value and more opportunities to purchase your products.
McKinsey Insights reports in 2022, more US consumers switched brands and retailers, looking for value. What's more, a little over a third of consumers opted to buy from private labels.
While your business needs new and returning customers, retention marketing will increase customers' lifetime value and long-term profitability.
Retention marketing is about communication with your customers and using available technology to leverage data for actionable insights. Technology is a driver in retention marketing.
It leverages strategies to keep customers engaged and loyal to your brand based on relevant data. Real-time reporting tools provide deep insights into:
Additionally, an integrated dashboard enables businesses to connect seamlessly to top email marketing applications, such as SalesForce and Marketo. Using technology to leverage insights and act on them is the foundation of customer retention.
If you want loyal customers, focus on building long-term relationships and delivering value throughout the customer journey.
Loyal customers spend more and will likely refer their friends and family to your brand. Reliable customer support is vital to building brand trust.
Today, customers expect to be able to reach customer support 24/7. Automation makes it possible to be there at all hours, and you can follow up if needed.
Provide customer service with easy access and accurate responses to solve customer issues. Listen and collect customer feedback. Then use it to improve customer experiences.
Nurturing customer relationships by providing ongoing service and support helps build lasting customer relationships that drive revenue.
When your customers give social endorsements, it increases customer retention. Encourage current customers to share their thoughts on your product or service, or implement a refer-a-friend campaign encouraging customers to endorse your brand.
Communities increase customer retention. Share your vision, and talk about topics your customers are interested in that naturally relate to your products or services.
Retention marketing is all about knowing your customers. To that end, you can leverage customer data to understand their preferences and motivations. Customers will come back to make purchases if they're getting value from your brand.
Use the data to build buyer personas that represent the type of person who uses your product or service. Then create campaigns that add value for them.
Loyalty programs reward your customers for buying your products and services. It can be anything from surprise swag to exclusive access that only loyal customers can purchase.
Loyalty programs and discounts show your repeat customers that you appreciate their business. Similarly, referral programs reward your customers when they send friends and family to your business.
E-commerce loyalty programs help brands build community and generate data to gain personalization insights. Consider implementing VIP benefits to increase customer lifetime value.
Social media contests encourage brand loyalty, build trust, and are a low-cost way to engage customers.
Email is an opt-in channel. Once they sign up, you can use customer emails to follow up, offer discounts, and find upsell opportunities.
To that end, it's essential to dedicate more attention to email campaigns to increase customer retention.
Email represents 50% of Latico Leathers' total revenue, and they wanted to dramatically increase their email list, drive a positive ROI, and maintain or increase their sending reputation. The company integrated Resolve with Klaviyo and experienced a 45% open rate from Resolve contacts.
You can customize email marketing campaigns and messaging for your audience. Analytics reveal which emails your customers open and don't open.
The data allows you to refine your email campaigns to suit your customers' preferences. Retention emails help build your email list, and you can segment it according to the most engaged to the least active recipients.
First, use data analytics to measure your cart abandonment rate. If it's high, revisit your email marketing campaigns to determine why they don't resonate with your audience.
Cart abandonment could also be website related. For example, checkout may not be a user-friendly experience. Once you gather insights into why customers abandon their carts, you can set out to re-engage them.
Leverage industry-leading identity technology to increase cart abandonment revenue. For example, GetEmails enables businesses to send abandoned cart emails to users, even if they still need to opt into your newsletter.
Retention.com specializes in retention marketing and e-commerce solutions, including cart abandonment and re-engaging potentially lost customers. We provide one-click integrations with leading marketing automation platforms.
Our dashboard features a user-friendly interface to easily connect to any email marketing application in under a minute. Retention's integrations automatically update and suppress contacts daily.
We can help you reclaim up to ten times more abandonment revenue by leveraging industry-leading Identity Resolution technology. When an unidentified customer abandons a cart, we identify them. Then a personalized flow automatically triggers in the messaging platform.
Scale up your abandonment flows and improve your retention marketing strategy. Get in touch with Retention.com today to find out how we can help.
7 out of 10 online shoppers abandon their carts, representing billions of dollars in lost revenue.
Imagine if you could instead reliably recoup even some of those lost sales.
Using retention marketing tactics, you can re-engage customers who have abandoned their carts and bring them back to your shop.
Read on to understand everything you need to start putting that lost revenue back in your pocket where it belongs.
Retention marketing encourages customers to return to your website or store to make repeat purchases. It means focusing on the customer's experience and building brand loyalty to boost word-of-mouth advertising.
At its core, retention marketing means keeping the customers you already have and increasing their spending on future purchases.
Your business can utilize many effective retention marketing strategies, including reclaiming abandoned cart revenue.
The bottom line is to create engagement and loyalty in the customers you have already converted.
This loyalty also leads to reaching new customers or clients through word of mouth.
Retention marketing aims to keep customers engaged with your company and product to increase their lifetime value to your business. The end goal of retention marketing is to increase your profits. For example, in a recent article, American Express noted that it costs 6 to 7x more to get new customers than to retain old ones.
By changing the focus to keeping customers interested and engaged with your brand, you can spend less to make more profit in a shorter time.
Spending less on marketing while making more sales is a dream come true. This is why retention marketing is essential to any modern business.
In addition, advertising on every platform has become much more expensive. According to Digital Information World and Business Insider, we are seeing huge increases in social media marketing costs.
For example, Facebook ads rose 89%, while advertisements on YouTube now cost 108% more than last year.
Clearly, the cost of acquiring new customers is only going up, so retention marketing is becoming even more critical.
There are many benefits to retention marketing.
One of the most significant benefits, besides the increase in profit margins, is that it increases the lifetime value of your customers.
Happy and loyal customers will buy more, come back more often and tell others about you.
When you make efforts to engage with old customers, they reward you with increased sales. As a result, you will have to spend less on advertising.
Understanding your customer's wants and needs deeply enough that you can keep them happy and engaged takes some work.
Likewise, setting up the required metrics to accurately measure your campaigns' results can take time.
Making sure your customers have a positive experience with your brand takes time and effort.
Customer service can be expensive and hard to get right if customers have unrealistic expectations.
It can also be challenging to show customers over time that they are still appreciated.
Retention marketing and acquisition marketing are two very different types of marketing. They have different goals and employ different tactics.
Acquisition marketing is more direct and easier to measure.
In contrast, retention marketing is often concerned with subjects such as loyalty, which is more of an indirect result of many combined efforts.
The most significant difference between these tactics is the type of customer they focus on.
Retention marketing focuses on customers you already have, while acquisition marketing focuses on getting new customers.
The actions taken in Retention marketing campaigns ensure that customers continue purchasing products in the long term.
Retention marketing tactics build loyalty and connection with your customers.
In contrast, acquisition marketing strategies focus on advertising to gain new customers.
Deciding how to divide your marketing budget between retention and acquisition depends on your current customer profile.
Brandalyzer does a great job of breaking down the mathematics of this complicated formula.
However, you can't go too far wrong if you spend 75% of your marketing budget on retention.
However much you decide to spend, it is clear that focusing more on retention than on acquisition will lead to greater success for your business.
Forbes recently conducted a study, and one of the notable findings was that merchants that spent more on retention in the last 1-3 years had close to a 200% more likelihood of being successful than their counterparts who spent more on acquisition.
There are many types of retention marketing, and you can choose the tactics that resonate most with your business.
For example, an online coaching portal could send personalized messages to encourage clients through SMS messaging.
Here are some other types of retention marketing campaigns:
Retention marketing tactics don't have to be expensive. However, the most effective strategies are thoughtful to engage repeat customers.
Email marketing to recapture abandoned cart revenue is one of the most profitable and effective strategies.
According to the Harvard Business Review, It is best to concentrate on the initial experiences a customer has with you in your retention marketing efforts.
Focusing on the first purchase experience statistically brings the most ROI and should be taken care of first in a retention marketing campaign.
Personalization can be used to enhance any of the other highly effective tactics mentioned above. You can employ personalization as a tactic through the many stages of the customer's journey.
Personalization as a retention marketing strategy has been shown to increase the number of customers a business gains and their lifetime value to you.
This personalization tactic provides valuable content across channels like email, social media, or even (SMS) text messages!
Finding the right tactics for your business can depend on your niche. Make data-driven decisions to decide on the best customer retention strategy.
First, find the right tools and formulas and measure your customer's data.
Then find out what successful metrics are for your business.
Looking at what successful metrics are for your industry is an effective way to begin. Then measure your customer data.
With the data in hand, you can see where you fall short. This will empower you to create the best retention marketing tactics for your business.
Decide what tactics will bring you the most profit and quickest returns. Target these first to create an effective retention marketing strategy.
Using the right tools is integral to creating an effective retention strategy. They will help you determine your goals and inform your strategy.
For example, if you recognize that you have a lot of dead emails on your list and want to bring these lost customers back, you can utilize Retention.Com's Reactivate campaign. This can help you increase your email opening rate from 2-3% all the way up to 40%.
What Tools Should be Implemented?
Having Customer Retention Management tools and identity resolution software can make all the data about your customer base easily accessible.
Another way to increase customer satisfaction while gathering data about them is to install a chatbot on your website.
When you have the information you need about your customers, it is much easier to tailor content for them.
To create an effective retention marketing strategy, we recommend the following steps:
It is a great idea to concentrate first on the projects that will give you the most significant return and then go to the less profitable but still rewarding projects. For example, focus on the first purchase.
Measuring the success of your marketing efforts with cutting-edge tools that give you accurate data will bring you the most accurate results.
Use mathematical formulas that allow you to accurately pinpoint your statistics.
You can find many of these on the Appcues Blog, where they explain the different statistics you can measure along with the formulas.
For example, churn rate = (number of customers at the end of the year - new customers)/number of customers at the beginning of the year.
Here are some of the ways you can measure your success with your retention marketing efforts:
Peter Drucker, the first thought leader in business management, famously said, "If you can't measure it, you can't improve it."
To guide your strategy, measure which tactics work best with your customers. This way, you can direct your budget to the most effective campaigns.
In retention marketing, some of the most profitable success measures are product return rate, ROI, revenue and customer churn, customer lifetime value, repeat purchase ratio, and time between purchases.
It is best to find the measures that mean success for your niche. For example, in some niches, buying only one or two products in a lifetime is common.
Comparing the repeat purchase ratio for that business to the ratio desirable for most stores would create unrealistic expectations.
Finding out what metrics are considered successful for your niche is worthwhile.
Every website needs tools that measure your marketing data. These tools will let you know the ROI of your retention efforts.
Some of the essential tools are Google Analytics and Retention.com.
Combining these two tools will give you the information you need to gather the statistics to measure your retention marketing efforts.
For example, with Retention.Com, you can measure and keep track of your cart abandonment rate and the abandoned cart recovery rate.
On your Retention.com dashboard, you get real-time reporting. For example, you can easily see your revenue and ROI tracking and how many people have added to the cart, all in one place.
Now that you know how to start measuring your data and how you can utilize retention marketing to 5- 10x your current profit margins, nothing can stop you!
If you're still unsure how to re-engage with your customers and reclaim those abandoned carts, then book a demo with Retention.com. We can show you how easy it is.