Case Study Released: Lead Follow-up Strategy
The following case study reveals the most efficient strategy of prospect engagement resulting up to 18% lift in revenue.
Shopping cart abandonment is a widespread problem across the eCommerce industry. Statistics show that an average cart abandonment rate is 67,89% for online merchants. This is an impressive number, and software vendors just cannot afford to leave so much money on the table. Unfortunately, many companies do nothing to tackle the problem.
Nowadays, most businesses blame poor email marketing, lack of global SaaS compliance, unimpressive advertising, and weak targeting for major losses in sales. However, studies show that 36% of leads who didn’t finish the purchase were ready to complete the purchase but weren’t given enough attention from the supplier. This attention can be built using a combination of several lead engagement practices:
- lead collection: gathering filled-in information from the abandoned shopping cart
- IDP (Instant DroP Notification): sending all collected data automatically to the remote database
- Automated follow-up emails: 3-step emails sent automatically to collect leads at scheduled intervals with the ability to add a certain discount
Email follow-ups have proven to be one of the best and most effective practices of lead engagement resulting in an 18% lift in revenue. This strategy allows a vendor to build a strong connection with profits, increasing the total number of sales. The case study demonstrates how the lead follow-up strategy helped ManiacTools to achieve the following results:
- monitor and analyze reasons of shopping cart abandonment
- achieve product brand recognition
- get 31,8% open rate for follow-up emails
- 10,6% lift in captured revenue
Do you currently use an automated lead management solution to recover abandoned shopping carts? What are your results?
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