For the majority of online retailers, keeping shoppers on their site and avoiding category browse abandonment is a significant challenge. Various types of abandonment can cost U.S. e-commerce merchants billions of dollars in sales every year. Estimates range from 70% cart abandonment to almost 80 percent of all possible orders are lost from a form of visitor abandonment. This post will cover the various types of abandonment and introduce 3 ways to tackle the most common one – Category Browse Abandonment. Types of Visitor Abandonments Website bounce A bounce refers to a single page session on your site. It takes
It is particularly frustrating to see online visitors go thru the entire shopping journey – finding their desired product, add to cart, and hit checkout – only to drop out at the very last step at checkout. This is a common challenge eCommerce marketers and owners face. Which also explains why our earlier article on eCommerce Checkout Best Practices is one of the most read pieces. So, we created an eCommerce checkout best practices infographic with all the best practices of the checkout process that may help you reduce your checkout abandonment rate, thereby boosting your store’s conversions What causes eCommerce
Each year, online retailers make new records during the Black Friday and Cyber Monday shopping period. In 2016, consumers spent a total of $12B online over the Black Friday weekend alone. This year is no exception, as growing number of consumers opt for the comfort of their home (office) over the crowded streets and malls when it comes to grabbing the best Black Friday deals. At ContactPigeon, we analyzed over millions of transactional records for a sneak peek into how Black Friday 2017 is shaping up. We have wrapped up our key findings in the Black Friday 2017 Email Marketing
This year, 20% of Millennial shoppers won’t make a single holiday purchase in a brick-and-mortar store. Instead, they will likely continue escalating an unstoppable national trend toward e-buying by holiday shoppers. Dollars spent online already outpace those spent in retail stores during this Christmas shopping season. According to the National Retail Federation, 154.4 million shoppers bought products on the Thanksgiving/Black Friday weekend in 2016. Of those, 108.5 million shopped online while 99.1 million shopped in stores. Nearly half of Black Friday and Cyber Monday are Millennial Shoppers Millennial shoppers love Black Friday and Cyber Monday. 2016 Black Friday sales buried 2015 numbers
In our September newsletter, we posed the following question to 2000+ fellow digital marketers and eCommerce readers: As eCommerce marketer, what’s your biggest eCommerce challenge to growing your business? To limit the range of possible options, we proposed 3 general areas. Grow visitor traffic Convert visitors into customers Get more returning customers Well, the results are in! 📊 While the responses are insightful, we are not entirely surprised by the results. Nearly half of the respondents (45% to be exact) considers sales conversion optimization as a major eCommerce challenge. This corresponds to recent studies that place visitor abandonment to ~92% of
Retention is a key part of selling and growing an e-commerce business. Keeping existing customers on for repeat business is often a more cost-effective and easier way to sustain your company than putting the time and money into gaining a new customer. In fact, the most commonly quoted “average” is 7 times more to sell to a new customer than to an existing one. Not only that, but repeat customers typically spend up to 67% more. Overall, managing to hang onto a customer improves the lifetime value of that customer. But it is a major challenge for marketers to retain
Winning a customer is hard, winning a loyal customer is even harder. Despite the difficulty, it’s worth the effort because the ability to effectively re-engage existing customers is vital for the longevity of an eCommerce business. Afterall, having a larger percentage of returning customers significantly increases the average customer lifetime value of your business. Consequently, when it comes to investing in marketing automation, it’s efficient to start with scenarios that will win back customers. Today, we cover a top scenario for re-engagement email strategy – Repurchase Reminders. Remind and conquer The most popular forms of Repurchase Reminders are automated messages that remind customers
In recent articles, we have established why marketing campaign automation is an important part of eCommerce for nurturing leads and increasing conversions. Our post today will explore the final part of the customer journey – engaging your customers after first purchase. We will address how marketing automation can play a key role in extending your customer’s lifetime value (CLV). What is a customer worth? For any eCommerce to be truly successful, it’s key to really understand the unit economics related to your customer acquisition, retention and finally lifetime value. Too often businesses invest substantially in paid advertisements to acquire new customers.
Unless you sell magical elements or proclaim to be a wiz in online marketing, chances are, a good majority of your online visitors don’t convert immediately. Acquiring leads and turning them into customers requires a gradual process. This process, also known as lead nurturing, can not only bring customers but also increase the overall customer lifetime value. In eCommerce, you can tap into the power of marketing campaign automation for leads nurturing to win conversions in the long run. Today, we will cover the key Marketing Automation scenarios that work wonders in establishing trust and rapport with your potential leads.
In a recent article, we discussed the rising role of marketing campaign automation in e-commerce marketing due to the tremendous benefits it has on e-commerce sales. In this post, along with the two subsequent articles as part of our Marketing Automation trilogy, we dive deeper to explore the essential e-commerce automation workflows that nurture leads, optimize conversions and increase returning customers. We start by addressing the number ONE concern of all e-Commerce marketers – converting web visits to sales. So, let’s dive right in. The eCommerce conversion challenge Let’s face it, getting visitor conversion is tough. Even after you’ve worked hard