More and more the concept of basket abandonment is mentioned as a method for increasing conversion - be it baskets in retail, quotes in insurance, bookings in travel or registrations in gambling.
Indeed, I am beginning to feel like it has been around forever. The real question for me is how to go from talking about it to actually producing the goods and enjoying the results.
Is anyone aware of organisations doing properly segmented basket abandonment at the moment (answer by return please!).
I’ve become bored of hearing what a good idea it is, and having personally been involved in doing it for the more forward thinking companies I decided it was time for an article that actually talked about what to do, rather than why.
Let’s start with the basics. Pick a conversion on your site that will drive the most business if it improves - quote not confirm, basket abandonment, register don’t deposit/purchase; there are many to choose from depending on the site in question.
That done (and yes it should be that easy) we are ready to build the lists and send out the emails daily to those matching rules.
Start by proving to your business it works and that doesn’t mean put it live and look at the results - it means build the list with 10% of the prospects removed to act as a control cell.
Compare these results for a period of time to show that those receiving the triggers are more likely to convert.
OK, so we have proved it works now let’s see what sort of creative message works best for the email.
The simple test (if you want more detail then contact me, this isn’t free consultancy you know!) would be to test between brand and offer, to find out which is most likely to convert.
Once you have your preferred message, start looking at email follow ups but remember people are different and some will be ready to purchase at different times. Follow ups to the initial email have accounted for over 20% of the new conversions in some campaigns. Test 3 or 4 days; 6 or 7 days; see which produces the best results.
Finally (for this example), start looking at the information you have on your site.
The web is a unique medium in that the prospect tells you what they are interested for you without you having to ask, so look at their visitor behaviour and split the creative message based on what they do on site, for example if you know they have looked at the delivery policy prior to dropping out, focus the message around a delivery offer.
So, without any complicated segmentation strategy meetings, big planning days or any of the other reasons that delay you actually getting a project started, we have gone from one good idea to 10 segments - along the way proving to your business the benefits and instigating a testing process, so you are ready to roll out to more areas.