This is the first monthly report by Fresh Relevance, to provide statistics on the effectiveness of real-time marketing. This report covers cart and browse recovery over a 30-day period in June-July 2013. (Next report for August 2013)
|Number of customers whose anonymised data was used||1.2 million||From a representative sample of Fresh Relevance clients, mainly in the USA and UK.|
|Proportion of Carts Abandoned||61.48% by number
64.48% by value
|Click Through Rate on recovery emails||14.8%||By campaign. Cart recovery emails.|
|Purchase Rate after click-through||30.98%||Cart recovery emails.|
|Average Order Value of recovered purchase as opposed to regular purchases||15.0% Higher for a recovered purchase||Cart recovery emails.|
|Proportion of revenue from browse recovery||23.7%||Browse recovery revenue / cart+browse recovery revenue (for clients doing both)|
|Average return from a single cart recovery email||$10.35||Cart recovery emails.|
|Average return from a single browse recovery email||$1.32||Browse recovery emails.|
|Sales uplift||15.61% (11.91% from cart and 3.70% from browse recovery)||Extra sales attributed to Fresh Relevance, compared to normal sales.|
- The average sales uplift of 15.61% is very pleasing and - because Fresh Relevance's fees are deliberately low - the average profitability of our clients has increased by significantly more than this.
- There is a huge variation in sales uplift across our clients. Everyone is making money, but not equally so. In part it is because some clients have added browse abandonment and done work to help us identify more customers, thus boosting recovery (advice), but there are other big effects such as market sector.
- I think this is the first time anyone has published a hard figure for the effectiveness of browse abandonment recovery. Fresh Relevance may get significantly better results than the competition for this, because we collect more behavioural data.
- NB: As with all such data, there is room for error in these figures. The recorded results could be too high, because some customers were going to buy anyway even if we didn't send recovery emails, or too low because some were reminded by the emails but bought in a way that we couldn't measure. We do our best, but nothing is 100% accurate, m'kay?
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