What Will Re-Engage the Most? Email vs. Retargeting Ads vs. Push Notifications or Multi-Channel Marketing
While defining the primary objective of marketing, the term revenue generation tops the list of any marketer. And revenue generation depends on the number of sales you make. However, what happens when your users choose the products from your website, add them to their carts, but did not complete the purchase?
Once the user forgets to buy the products they added to their cart, your marketing ROI might go haywire due to the lowering of the sales volume.
If you know what I am speaking off, let me tell you that you are not alone who are suffering from the issue of cart abandonment. Cart abandonment is a persistent issue with all the merchants. The global average for cart abandonment stands at 69.57%, as per studies. When speaking about the loss of revenue, the cart abandonment revenue loss translates to approximately $4.6 trillion.
The stats are scary, isn’t it? Well, the good news is, studies suggest that a total of $2.75 trillion from the abandoned carts are recoverable through various means. Therefore, if you are looking to boost your revenue, reducing cart abandonment is one of the best things to do.
When we are looking to bring back our users to complete the purchasing process, three channels are known to perform the best. These are - emails, retargeting ads, and push notifications. Let’s get a peek into the impact of these channels in reducing the abandoned cart for you.
One of the most used and trusted channels for marketers, email marketing has indeed shown some great returns when it comes to re-engagement. You can improve the conversion rates of your abandoned shopping carts by as much as 18.64% with an email.
However, around 18% of the conversion rate with your email doesn’t change your revenue substantially. This is because you have to invest in your email marketing platform too. Moreover, the effort you put in to bring those users back has to be accounted for.
Still, there are ways you can improve the email response rate and conversion rates of your users. Additionally, including CTAs, rich-media, or an offer can boost up your sales by quite a margin.
Despite all these, there still seems to be a problem that can crop up now and then. Email marketing has become quite commonplace, so every merchant is using them now. Moreover, users receive tons of emails every day, making the possibility of your email about cart abandonment standing out low.
Therefore, if you are unable to send the email about their cart at the perfect moment of them opening the inbox, the chances of re-engaging them with it remain slim. Since predicting the exact time a user opens their inbox is nearly impossible, the rate of re-engagement remains low for the email channel.
Another method of re-engaging users to complete the purchase process other than email is retargeting ads on Facebook. Retargeting ads are shown to the users who are already looking to buy the product from you, and have either checked out the product or added them to their cart.
Since retargeting ads work by displaying the products to users depending on their buying intent, the conversion rate is naturally higher. Moreover, retargeting ads depends on the keywords used for searching the product, allowing a better response. Additionally, it takes into account the users’ buying history and preferences, therefore can target them better.
Although retargeting ads and abandonment emails work great, push notifications can perform better than these two due to its nature and mechanism or communication. This is because push notifications serve as an instant alert to users. Further, they work on any device that the user is on, including mobile or desktop through apps or browsers.
Since push notifications are instantaneous, the engagement rates become quite high when it comes to click-through rates and conversions. Additionally, push notification takes user consent into account, therefore, are high intent messages as users have already agreed to receive it.
Marketers can improve push notification performance in several ways. They can insert rich-media, carousel notifications, product labels, or CTAs, according to the requirement and invoke an action from the users. The provision of deep-linking, along with targeted landing pages can improve the efficiency of push notification by quite a notch.
However, push notification has a few downsides too. Users can turn off his notification preference if they wish to no longer receive notifications from you, resulting in non-delivery of the message. Moreover, they can also start ignoring your notifications if you send them too many or too few of them.
Multi-channel marketing - Making marketing channels work in sync
Since all of the above-mentioned channels have lots of positives but suffers from a few drawbacks, you might wonder what is the best channel after all. Well, the answer is using all three in coordination as a part of the multi channel marketing channel.
A multi channel marketing platform allows you to bind all the positives of these marketing channels. However, they minimize the risk of a lowered engagement rate that may arise when operating them as singular channels. The multi-channel marketing practices understand the users’ online behavior and communicate with them according to the channels they are more active at a particular moment.
Let’s have a look at what multi channel marketing can do to benefit you to make the situation clear.
1) Get more CLV out of your marketing communications:
Allow you to carry out marketing campaigns using the user data points to understand and recommend the product they want. It helps you to reduce the guesswork in offering product that they don’t want by consolidating all the information collected. This helps in improving the customer lifecycle value and increase conversions efficiently.
2) Optimize marketing communication across devices and channels:
Multi channel marketing allows you to leverage the benefits of email, retargeting ads, and push notification across marketing channels and devices. Therefore, you can engage your users irrespective of the devices they are using, or on the channel they are most active on.
3) Drive meaningful conversion with accurate targeting:
Using multiple channels allow you to reach your users with the right content at the right time. Thus, you can build their intent for completing a purchase by giving them all the relevant information they want.
4) Reduce cannibalization of marketing channels:
As a multi-channel marketing platform works on automation, the chances of cannibalizing your users across the channels reduces. Multi-channel marketing relies on the user journey, and send them marketing communications according to their position on the sales funnel. Therefore, the chances of sending repeat message, or sending a communication to a converted users reduces.
5) Optimize your marketing ROI:
Since all of your marketing channels work in tandem, the chances of spending extra on all the marketing channel reduces. As your expenditure reduces, your ROI for converting the users improves. Since the complete process is automated, you can expect a better reaction to at least one of these messages. Subsequently, it would improve your conversion rates and your revenue generation substantially.
Emails, retargeting ads, and push notifications to have the power to revamp your marketing efforts to reduce the cart abandonment issue to quite a large extent. Hence, if you use all three of them together in sync, you can generate even more engagement than using them individually.
Multi-channel marketing is the method that allows you to seamlessly integrate your emails, retargeting ads, and push notification. It ensures that you get your users to complete the purchase process and increase your revenue.
For more details into multi-channel marketing, get in touch with us at firstname.lastname@example.org.