Jul 27, 2018
Utilizing an eCommerce retargeting strategy is the BEST way to boost revenue in your online business. It allows you to secure money that’s been left on the table and profit from customers that your competitors are ignoring. I have found that eCommerce professionals that use these 2 strategies earn more, sell more, and enjoy more success.
On this episode of Marketing For eCommerce I walk you through the retargeting strategies that will change the way you pursue customers and explain how these strategies will save you money in your marketing budget. You don’t want to miss these insights - listen now!
The average Shopify store sees a mere 2% conversion rate. If you’re seeing these low rates, don’t be alarmed! It’s, unfortunately, the norm. Only 2% of all visitors were the customers ready to buy right now. And if you utilize a sales funnel, the conversion rate increases to 10%. But what happens to the other 90%?
Most eCommerce businesses simply ignore them! That’s when these 2 eCommerce retargeting strategies come into play. Why spend marketing dollars on getting 100% of your customers to your store, only to have 90% of them abandon carts and leave? You NEED to use these strategies to retarget and remarket to this majority of visitors and convert them into customers.
The first eCommerce retargeting strategy simply augments your existing “abandoned cart” email prompt. To increase the number of “almost customers” on your email list, create a 2-step order form. A guest will go from the sales page, click “yes I want to buy,” and will be prompted to enter their email. After submitting their email, that’s when they’ll be taken to the payment information page. By capturing their email before they have the chance to abandon a cart, you’ll have thousands of more emails in your CRM that can now receive additional marketing emails. It’s a simple strategy, but it works! Many eCommerce businesses see up to 30% more closures after implementing this strategy. For the full story, don’t miss this episode.
The second eCommerce retargeting strategy involves Facebook messenger chatbots, something I’ve talked about at length on episode 6 of Marketing For eCommerce. If you integrate your existing abandoned cart marketing strategy into highly personalized messenger texts, you’ll see sky-high click rates of 60-70%. The engagement rates for these types of messages are so high because it’s personalized - prospective customers love seeing their recently viewed items pop up in their Messenger app. Retargeting through Facebook ads are also a solid way to secure these additional sales. I outline everything you need to know about this strategy on this podcast - it’s one not to be missed!
So many eCommerce professionals lose money by investing in acquiring prospective customers, but then letting them walk away without committing to a purchase. “Almost buyers” that abandon carts have already made so many micro-commitments to your business and product. They said “Yes!” to clicking on an email or social media ad and they said “Yes!” to browsing your site. You need these 2 strategies to help them say “YES!” to the final purchase.
Think about these strategies in terms of your marketing budget. These eCommerce retargeting tactics typically cost less than $5 per person to employ. Compare that to your original customer acquisition budget, which tends to be upwards of $30 per person. It’s easy to see how these small additions can make all the difference in your eCommerce profits. If you start using these strategies now, I promise you’ll see results. Listen now to hear how.
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