Top 5 Ways To Combat Shopping Cart Abandonment
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Transcript of Top 5 Ways To Combat Shopping Cart Abandonment
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1WordStream Confidential
Top 5 Ways to Fight Shopping Cart AbandonmentNavah Hopkins
11.03.2016
Copyright 2016 WordStream, Inc. All rights reserved. #InternationalEcommDay
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2WordStream Confidential
A Little About Me + WordStream
Customer Success – Team Lead
#InternationalEcommDay
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3WordStream Confidential
We’ll Be Talking About:
• Why Does Shopping Cart Abandonment Exist
• Cross Ad Medium Messaging
• Mobile
• Retargeting
• The Localization of eComm
#InternationalEcommDay
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4WordStream Confidential
What Makes People Abandon
Shopping Carts?
#InternationalEcommDay
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5WordStream Confidential
Shopping Cart
Abandonment is at 80%
Baymard Institute
#InternationalEcommDay
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6WordStream Confidential
Some Reasons Why
• 66% of online consumers abandon their cart
because of problems with the payment process.
(RetailMeNot.com)
#InternationalEcommDay
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7WordStream Confidential
• 63% of online consumers said they were more
likely to return to a website that offers live
chat. (RetailMeNot.com)
#InternationalEcommDay
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8WordStream Confidential
57% Won’t Recommend A Retailer With Bad
Mobile UI/UX
#InternationalEcommDay
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9WordStream Confidential
SEM Can Only Send The Leads
#InternationalEcommDay
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10WordStream Confidential
Let’s Work Magic With
What We Can Control
#InternationalEcommDay
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11WordStream Confidential
Trick #1 Cross Platform Messaging
#InternationalEcommDay
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12WordStream Confidential
First A Confession: I’m An Avid Witcher Fan
#InternationalEcommDay
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13WordStream Confidential
So It Stands To Reason I’d Engage With
Witcher Merch
#InternationalEcommDay
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14WordStream Confidential
Alas, They Didn’t Have My Size, So I
Bounced
No matter how
much I love it, it
won’t fit…guess it
wasn’t meant to
be
#InternationalEcommDay#InternationalEcommDay
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15WordStream Confidential
Within 5 Seconds: On My Facebook Page
#InternationalEcommDay
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16WordStream Confidential
85% of orders From Social Media Sites
Come From Facebook
#InternationalEcommDay
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17WordStream Confidential
#1 In Shopping Box
#InternationalEcommDay
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18WordStream Confidential
Don’t Forget YouTube
#InternationalEcommDay
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19WordStream Confidential
Even Bing Had Me
#InternationalEcommDay
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20WordStream Confidential
What Went Right?
Consistent experience: Return
visitors are up to 6X more likely to
convert, but only if they’re sure they’re
in the right place
Contextual placement was great
(particular on the youtube video)
The ad followed around at a
reasonable pace of impressions.
#InternationalEcommDay
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21WordStream Confidential
What Went Wrong?
• Title is not keyword centric
• Price stayed the same/no promos to get
me to buy
• Missed opportunity to hit me in my
Facebook feed.
• No accounting for why I didn’t buy in the
first place!
#InternationalEcommDay
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22WordStream Confidential
Trick #2 Owning eComm By
Owning Mobile
#InternationalEcommDay
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23WordStream Confidential
Newsflash: Shopping Gets A Lot of Love On
Mobile
Credit: Andy Taylor/SearchEngineLand.com
#InternationalEcommDay
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24WordStream Confidential
Average Click Through Rates Compared to 2015
0.00%
0.20%
0.40%
0.60%
0.80%
1.00%
1.20%
1.40%
1.60%
1.80%
Computer Smartphone Tablet
Average CTR
July2016-Oct2016 July2015-Oct2015
1.64%
Data based off of 550 accounts with at least one shopping campaign
#InternationalEcommDay
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25WordStream Confidential
Average Conversions Compared to 2015
0
20
40
60
80
100
120
140
160
180
200
Computer Smartphone Tablet
Average Conversions
July2016-Oct2016 July2015-Oct2015
180
Data based off of 550 accounts with at least one shopping campaign.
#InternationalEcommDay
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26WordStream Confidential
Average Cost Per Acquisition Compared to 2015
$0.00
$5.00
$10.00
$15.00
$20.00
$25.00
$30.00
$35.00
$40.00
Computer Smartphone Tablet
Average CPA
July2016-Oct2016 July2015-Oct2015
$37
Data based off of 550 accounts with at least one shopping campaign.
#InternationalEcommDay
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27WordStream Confidential
Mobile Might Be More Expensive, But The
Volume Is Clear
70% of online transactions occur on a mobile device.
#InternationalEcommDay
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28WordStream Confidential
One Reason For This Might Be Price Extensions
Behold the Mighty Price Extension!
#InternationalEcommDay
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29WordStream Confidential
Price Extension’s – The Hybrid Extension
With Over 10% CTR
The aggregated data in this post is based on a sample of four WordStream client accounts with early beta access to Price Extensions who were
advertising on the Google Search Network in May 2016.
@navahf
#InternationalEcommDay
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30WordStream Confidential
Avoid Shopping Cart Abandonment By
Accounting for Device
#InternationalEcommDay
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31WordStream Confidential
Trick #3 The Power of Promos
#InternationalEcommDay
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32WordStream Confidential
Sales/Coupons Excite people
Over 80% of shoppers say they use more
than one promotional media type to make
purchase decisions. (Market Track)
40% of shoppers prefer receiving discounts
on purchases over loyalty program points
or a gift basket (Precima)
91% of brand loyal shoppers use coupons
(Valassis)
#InternationalEcommDay
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33WordStream Confidential
Begin with Dynamic Product Ads
Characteristics of good Dynamic Product Ads:
• Include price (hopefully with some sort of discount)
• Include product
• Include your brand
• Simple design!
#InternationalEcommDay
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34WordStream Confidential
Your Shopping Ads Mean
You Already Have the Feed!
#InternationalEcommDay
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35WordStream Confidential
Contextual Images Are Powerful
#InternationalEcommDay
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36WordStream Confidential
Even if I Already Booked, This Is Helpful
#InternationalEcommDay
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37WordStream Confidential
Out of Place “Images” Are Not
#InternationalEcommDay
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38WordStream Confidential
Search With Display Select RLSA = Bad
Time
• Budget should exclusively go to
search – display select directs
budget towards display campaigns
without crafting display ad.
• Don’t want to engage with PPC ad on
shaving site, no matter how much I
love both
#InternationalEcommDay
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39WordStream Confidential
Trick #4 RLSA/Customer Match
#InternationalEcommDay
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40WordStream Confidential
Abandoning = You’ve Been Tagged!
#InternationalEcommDay
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41WordStream Confidential
Retargeting Lists Search Ads(RLSA) For
Shopping
• Membership has been extended to 540 (display) days!
• Catch folks who abandoned you before
• One of the most receptive audiences to promos
#InternationalEcommDay
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42WordStream Confidential
Layering in RLSA Focuses the Budget
#InternationalEcommDay
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43WordStream Confidential
Customer Match: Use Emails
From Promos/Past Orders!
#InternationalEcommDay
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44WordStream Confidential
New Customer Can Be Up To 6X More
Expensive Than Returning Customer
Source: invesp
#InternationalEcommDay
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45WordStream Confidential
Trick #5 Local + eComm
#InternationalEcommDay
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46WordStream Confidential
53% of consumers are willing to share
their current location to receive more
relevant advertising.
#InternationalEcommDay
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47WordStream Confidential
62% of consumers share
local deals with friends.
#InternationalEcommDay
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48WordStream Confidential
When Local + Ecomm Meet
#InternationalEcommDay
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49WordStream Confidential
What’s the Experience Like?
#InternationalEcommDay
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50WordStream Confidential
Let’s Go Shopping!
#InternationalEcommDay
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51WordStream Confidential
“In Store” Signals the Local Landing Page
#InternationalEcommDay
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52WordStream Confidential
What catches your eye?
#InternationalEcommDay
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53WordStream Confidential
What’s Working Well?
#InternationalEcommDay
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54WordStream Confidential
What catches your eye?
#InternationalEcommDay
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55WordStream Confidential
Biggest Risk: I Can’t
Convert on That Page!
#InternationalEcommDay
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56WordStream Confidential
These Are Still in Beta
#InternationalEcommDay
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57WordStream Confidential
What Did We Learn?
#InternationalEcommDay
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58WordStream Confidential
Keep messaging consistent across content
mediums
#InternationalEcommDay
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59WordStream Confidential
Own Shopping By Owning Mobile
#InternationalEcommDay
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60WordStream Confidential
Promos Are the Lifeblood of Shopping
#InternationalEcommDay
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61WordStream Confidential
Adding Retargeting Through
RLSA & Customer Match
#InternationalEcommDay
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62WordStream Confidential
Bridge the Gap
Between Local
Retail and
eCommerce
#InternationalEcommDay
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63WordStream Confidential
List of sources outside WordStream Data
Sets• Retail’s Main Event: Brick & Mortar vs. Online, RetailNext
• Retail’s Impact, National Retail Federation
• 13 Alarming Stats About Retail in Digital, Digiday
• 15 Holiday Retail Stats That Every Marketer Needs to See, AdWeek
• 2014 US Retail Industry Overview, About.com
• Hold the Phone: 66% of Time Spent With e-Retail is on Mobile, Internet Retailer
• How Proximity Marketing Is Driving Retail Sales, Forbes
• 15 Retailer Resources, Stats and Tactics, SnapRetail
• Speed of Delivery Is Important for Retail Shoppers, Accenture
• Trends in Retail Show US Consumers Plan To Spend More on Holiday Shopping, Accenture
• 12 Illuminating eCommerce Stats from January-March 2015, eConsultancy
• 5 Ecommerce Stats That Will Make You Change Your Entire Marketing Approach, Kiss Metrics
• 40 Amazing Online Shopping And Ecommerce Statistics, Selz
• Five 2015 Ecommerce Stats & Trends You Should Know About, PixelMEDIA
• 5 Stats Every Ecommerce Business Should Know, Gigya
• 7 Statistics About E-Commerce Shoppers That Reveal Why Many Consumer Stereotypes Don’t Apply Online, Business Insider
• 13 Startling Customer Service Statistics, Parature
• 10 Useful Customer Experience Statistics For Your 2015 Strategy, Neosperience
• 38 Powerful Customer Experience Stats for 2015, Christine James of HissingKitty
• 10 Statistics from the Online Marketplace Seller Survey, Web Retailer
• 12 Retail Trends and Predictions for 2015, Vend HQ
• U.S. Social Commerce – Statistics & Trend, AdWeek
#InternationalEcommDay
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64WordStream Confidential
@navahf
linkedin.com/in/navahhopkins
#InternationalEcommDay