- Retail sector is shown the way by gambling companies
Online PR News – 25-March-2011 – – Internet Retailing Expo 2011, NEC Birmingham: New research revealed by RedEye, the leader in behavioural email, shows abandoned basket email can achieve a 12% conversion to sale. However, only 13% of online retailers are using it to target abandoned basket users. This means 87% of online retailers are missing a huge opportunity to recapture lost sales and improve online conversion. The good news is, compared to RedEye’s previous Benchmark Study released in November 2010, 6% more retailers are now using the process.
Not following up on abandoned baskets, or any inactivity in the buying process, is a massive missed opportunity (worth £billions). Also, importantly, retailers are significantly lagging behind other sectors in automating this ability to target nearly-customers. In a world where over 70% of customers are regularly abandoning baskets this should be a standard tool for marketers, but evidence shows the opposite. Compared to retailers, Gambling companies are shown to be much more proactive at targeting users with 70% using a register not deposit email to improve conversion.
This new research is unveiled in RedEye’s second Behavioural Email Benchmark Study. The study looks at the use of behavioural email by over 200 online companies. Data was collected February-March 2011, and compares research with results from RedEye’s first Behavioural Email Benchmark Study released in November 2010.
Matthew Kelleher, Commercial Director at RedEye explains: “Our second Behavioural Email Benchmark Study shows the growth of behavioural email is slowly taking off – it is now implemented by 6% more online retailers than 4 months ago – but there is still a very long way to go.
“There’s no reason for companies not to try it - an automated abandoned basket system is relatively quick and easy to set-up, and results can be achieved from otherwise lost sales in just 24 hours.”
• Across all sectors (retail, insurance, gambling) the use of behavioural email has increased since November 2010.
• The percent of online retailers sending abandoned basket email has increased by 6%.
• The percent of Insurance companies sending quote not buy email has increased by 8%.
• The percent of gambling companies sending a register not deposit email has increased by 50%.
• Retail companies are still sending the least amount of behavioural emails, compared to insurance and gambling.
• The use of registration follow-up emails has increased greatly across both retail and gambling. The number of retail companies now using a registration follow-up email has increased by 34%, and the number of gambling companies now using a registration follow-up email has increased by 40%.
• In retail, welcome programmes are most commonly used. However 27% of retailers monitored fail to offer pre-purchase registration, preventing them from implementing the trigger.
• Some of the most successful behavioural emails implemented by RedEye clients can be viewed as abandoned basket, welcome and saved quote follow-up. Results from these campaigns include click through rates as high as 73% and conversion rates as high as 20%.
Abandoned basket recovery is underutilised in all sectors, yet yields one of the best revenue opportunities and ROI available. Many companies claim they are exploring it, yet it is available almost immediately, and with little integration, to any ecommerce operation. Taking the first steps is relatively easy and fast – results are achievable from otherwise lost sales in just 24 hours.
The study researched the online email processes of the likes of Amazon.co.uk, Play.com, Next.com, Thomas Cook and Halfords
The full report will be available at the end of the month. If you would like to receive a copy please call Katie Traynier on 01908 340 990 or email Katie.email@example.com.