Cart abandonment happens to every online retailer, but successful merchants know how to minimize their loss and capitalize on the opportunity.
A new study from ecommerce personalization solution Barilliance (see an infographic on the results here) reveals that sending out timed, multi-stage retargeting emails increase cart recovery and conversions among abandoned ecommerce site visitors, leading to an 18 percent conversion rate from shopping cart abandonment emails.
The Barilliance report indicates that that the best converting email campaigns consist of three triggered emails sent out at intervals of within 1 hour, 24 hours and 72 hours after cart abandonment.
The conversion rate of website visitors retargeted with a first triggered email sent out within one hour of cart abandonment is 20.3 percent compared to a 12.2 percent conversion rate if the email is sent after 24 hours from abandonment.
The conversion rate of the 2nd triggered email sent out after 24 hours of cart abandonment is 17.7 percent compared to a 7.7 percent conversion rate if the email is sent after 48-plus hours from abandonment. The conversion rate of the third triggered email sent out after 72 hours of cart abandonment is 18.2 percent.
The study also examined best practices email marketers use to better increase email acquisition and found that by offering website visitors the ability to email themselves a copy of their filled shopping carts or a summary of their website visits, email marketers achieved 29 percent and 14 percent conversions rates, respectively.