Unlock the Power of Abandoned Carts
Who doesn’t love a good makeover? Today, we’ve got a behind-the-scenes look at the glow-up we’ve given to our abandoned cart campaigns. In this blog, we will reveal why abandoned carts are a big deal. We’ll highlight the juicy customer data that fueled our decisions and the changes we’ve made to amp up your customer’s shopping journey and ultimately lead to more conversions.
The Revenue Boost You Didn’t See Coming
We took a deep dive into our customers’ email marketing performance this year, and what caught our attention were those abandoned carts – baskets of potential revenue left stranded in the digital aisles. We saw an opportunity to turn things around and decided to make data-backed changes that could bring these abandoned carts back to life.
Abandoned carts aren’t just missed transactions; they are a goldmine of insights into your shopping habits. Want to learn more about what an Abandoned cart email campaign is? Lucky you, we’ve got a whole blog on the topic. Click here to view.
Our mission became clear: to optimize our abandoned cart campaigns based on real data. We believed that if we could align our studio’s campaigns with industry standards for design and workflow, we could not only recover lost revenue but create a shopping experience that truly resonates with your customers.
We’ve now also instated split testing into our abandoned cart rollout. Things change so it’s important to have a dynamic response to customer shopping behavior. With this in mind, we’ll constantly be theorizing, testing, and improving the abandoned cart emails.
The Data Is In
We compared customer conversion data between August 1st, 2022 – October 15th, 2022, and August 1st, 2023 – October 15th, 2023. Looking at the same period year over year ensured we took into account the seasonal nature of the industry. So what did we find? Our updates to the campaigns worked! For 2022, the average viewed conversion rate from opening an abandoned cart email was 21%; in 2023, this rose to 24%.
What do we mean by conversion rate? For the data outlined in this blog, we looked at customers who received the abandoned cart email and made a purchase shortly after.
This data took into account a range of different studios that use Fotomerchant. With the demographics of the studio customer base undeniably impacting the data, some studios saw more of a change than others. For example, one of our studios saw a 9.11% increase in abandoned cart conversions between 2022 (14.19%) and 2023 (23.30%). Whereas another studio in a different part of the country only saw a 2% increase in conversion from the updated campaign. Progress is still progress! As we continue to track and update these campaigns, we’re interested in digging deeper into the demographic influence on abandoned cart email conversions.
The Data-Driven Evolution
What exactly have we changed? Everything from the timing of our emails to the design elements – it’s all been meticulously crafted to scoop up those extra sales. Let’s break it down:
Initial Email: Now sent a mere hour after customers have shown interest in those must-have items. We’re striking in the moment.
First Reminder: A friendly nudge 23 hours later for those moments when life gets in the way.
Second Reminder: If they’re still contemplating, there’s another reminder three days after the first.
But here’s the exciting part – our changes aren’t static. Oh no, we’re running a split test. The Control group gets personalized copy, while Variation A showcases subtle design tweaks. Why? Because we want to know what resonates with your customers the most.
Data-Informed Customer Marketing
What sets our approach apart is the magic of data-informed customer marketing. We’re not shooting into the dark; we’re using your data to hit the bullseye. By understanding your customer’s behaviors, preferences, and even hesitations, we’re crafting an email that leads to conversions. It’s just that simple.
To learn more about how you can supercharge your revenue with the use of abandoned cart emails, book a demo using the button below: