When we here at Bluecore took a look at the levels of customer abandonment and disengagement across over 100 of our retail partners, we found something pretty amazing. An astonishing 47.71% of customers who abandon retailers’ sites at any point will not return within 14 days.
That’s nearly half of your customers who are leaving with no intention of re-engaging with your brand. So now that I’ve broken that awful news I have an important question for you, what the hell are you doing about it?
How are you addressing this 47.71% of customers who just leave? Triggered emails can help, but sometimes a timely search abandonment or product abandonment email won’t get the job done. Before you know it, a customer hasn’t been back to your site in six or seven weeks. So how do you bring them back?
Enter Product Notification triggered emails. It’s important for retailers to develop alternative strategies to bring these lost customers back into the purchase cycle, and product notification emails are the perfect way to do this.
Product Notification triggers, which combine knowledge of customer browsing data with significant product catalog changes, are able to produce personalized messages for customers that notify them of everything from price decreases and low inventory to back-in-stock items. These emails, which are a powerful way to extend the customer shopping experience, have a proven ability to return customers who have become disengaged to the customer journey. They enable retailers to extract additional revenue from customers they may have lost permanently otherwise.
Take this Price Decrease product notification email sent by Blue Nile.
The customer who received this email viewed the 2.31-Carat Radiant Cut Diamond that changed in price, but never made a purchase. By utilizing a product notification trigger that automatically detects price changes in their product catalog, Blue Nile is able to immediately inform potentially disengaged customers about this change and price. When this is done, customers will often come back and complete their purchase.
Not only can these emails effectively retarget customers who haven’t returned to retailers’ sites for more than sixty days, they also can produce large amounts of revenue from those customers.
Take a look at the table below. It shows that on average 50% of re-activated customers receive at least one more Bluecore email, and on average 4.5% convert over the two week period post re-activation. Additionally, converting customers will spend substantial amounts post re-activation.
Let’s take a look at the retargeting capabilities of these emails with the chart below, which shows the indexed values for audience size based on week since last visit across over 100 of our retail partners using product notification triggers.
By enabling retargeting for customers who haven’t returned to the site in as long as three months, these emails are able to produce incremental revenue gains for retailers equivalent or greater than the value of their Abandoned Cart email programs.
Look, no retailer will be able to retain 100% of their customers. Even with triggered emails, retailers can’t retain 100% of abandoning customers. But Product Notification triggers, by integrating up-to-date catalog data seamlessly with individual customer insights, can help retailers regain lost customers and further increase the Average Lifetime Value of every person on their site that makes a purchase.