Although mitigating the rate of cart abandonment is about more than just marketing, one of the easier starting points is an abandoned cart email journey. Some marketers don’t bother with this because they feel that their email capture rates are too low to make it worthwhile. However, many companies have managed to increase their email matching to about 40% and since you can achieve a 6-12% conversion rate on these emails, they can be a very cost-effective way of remarketing. Furthermore, over half of all frequent and occasional shoppers find abandoned cart reminder emails helpful and 46% of shoppers actually expect them. 32% say it makes them more likely to complete the order.
So, since an abandoned cart email is basically a must-do, how do you go about it? One of the main questions we get frequently is ‘When should I send my email?’. Although consumers typically say they expect an abandoned cart email reminder to come within 24 hours, numerous tests have shown that the sooner you send it, the better response rate you get. Emails sent within an hour have the highest conversion rate, which is more than 2x the rate of those sent after a few hours and 5x larger than the conversion rate for emails sent 24 hours later. In one test, the exact same email drove 105% more revenue and a 66% higher average order value when sent within an hour instead of after a day. So the research is pretty clear on this question.
What about sending additional emails? The purchase rate starts to level off after about 1-3 hours. Sending subsequent emails after this point can add another ⅓ to the conversion, but most people stick with less than three emails today. You may want to consider only sending additional emails to high-value targets, such as serial cart abandoners, those who have high average order values, or those with an interest in high margin products.
As far as messaging, the most impactful messages actual vary based on how frequently the shopper buys online. People who shop with you frequently are more influenced by messages around practical things, like the order total, photos of the product, and shipping details. Those who shop less often will respond better to savings/coupons.
Of course, as with most email campaigns, the key is to figure out what works for you and institute a program of A/B testing to confirm that these standards apply to your specific use case and audience.
*Statistics sourced from Experian, Conversion, Bronto, Magento, LYONSCG, and SeeWhy