Every e-commerce company is familiar with the dreaded abandoned cart. Consumers visit your site, put items in their shopping cart, and then leave without making a final purchase. Whether they get busy with something else or want to take time to think about their purchase, it is vital that you take the opportunity to reengage these customers. With email automation, you can send an automated email message to these consumers, encouraging them to come back to your site and finalize their purchase.
Based on all the information we have gathered during our in-depth research we assign a magic score to each vendor. This is based on factors that affect any solo ad purchase (for e.g: CPC, Sales, Conversion rate etc). We use our proprietary algorithm to do this. As a rule of thumb, higher the Magic Score, better the solo ad experience is going to be.
For example, If you’re a retailer specializing in hip, modern home decor, you probably wouldn’t waste your time sending mailers. Instead, you’d target your core audience of hip, modern millennials by posting breathtaking staged rooms on Instagram, or ads when individuals search for such decor. Or you might create an exciting contest on social media (check out our guide here).
Get them to buy a second time! This seems obvious, but it has serious implications for your email marketing strategy. Due to high customer acquisition costs, most retailers break-even on the first purchase, the F1, and it’s only on repeat purchases that they generate profits. And yet if you were to look at all your customers today, you’d probably have 80%–90% F1s. Put another way, 80%–90% single-purchase, marginally profitable customers.