The following post is written by Rachel Peters, a Listrak marketing research intern. Rachel's observations are based on a research study the team is conducting on approximately 200 various mid-market retailers across a number of verticals.
Holiday strategy planning is upon us! A crucial time of year for retailers, every site visitor offers a connection and conversion opportunity. Many retailers, however, are not fully taking advantage of the opportunity.
Browse abandonment campaigns play an important role in leveraging site traffic. Listrak’s Director of Product Strategy Andrew Rotteveel recently published an article containing research on the significant impacts that browse abandonment campaigns have on average order value, incremental revenue and customer acquisition.
In a recent in-house research project we found that only about half of the mid-market retailers we are studying are utilizing a modal pop-up for email acquisition on-site. Without obtaining an email address to identify and connect with the customer, retailers are missing the opportunity to optimize proven, revenue-driving email campaigns..
Even visitors who do not go so far as to place an item in a shopping cart are still providing retailers with valuable clues about what they are interested in. This is where browse abandonment campaigns come in. Sending personalized messages (like the ones below) to the browser keeps your product in the forefront of their minds, driving traffic (and money) back to your site.
Our research also found that fewer than 8% of retailers have browse abandonment campaigns in place. Looking at the chart below, which is based on Listrak clients who have both shopping cart and abandonment and browse abandonment campaigns, you can see how much revenue these retailers are missing out on:
As you strive to keep your brand in front of shoppers this holiday season, consider the impact a browse abandonment campaign would have to your bottom line this year and for many years to come as you continue to interact with your browsing customers.
Want to learn more about browse abandonment best practices? Sign up for our webinar herebe on the lookout for the complete research report packed with insights on modals mobile and more…oh my!