The ultimate abandoned cart flow: “I see you started an order but didn’t get round to completing it. Here’s a free one to try...” Does it work? I emailed Frank. He tells me yes: “The cost of posting a can is $10. People get hooked and buy subscriptions. And the lifetime value of a subscriber is $3,000!” So if you convert 1/300 “freebies to subscribers” you're profitable. It's a *ridiculously* well targeted direct mail campaign. Throwback marketing. Credit to (the excellent) Randy McHugh (where I first saw this).
Love this. But why mention what it costs the company to acquire a new customer? The customer won't give a toss. Great work from Frank - but I'd have left that bit out.
Harry Dry hope you don't mind me asking, but I wonder did Frank mention how he managed to get postal addresses for the abandoned cart shoppers? My experience is the vast majority of abandoned carts are from people browsing without signing in or providing postal addresses. Maybe I'm missing a really important piece of the puzzle ... and always willing to learn.
A lot of marketing decisions are made a lot easier if you fully understand the commercials of doing / not doing something. Plus some nice copy chucked in for good measure 👏
Goddamn. And now here they have Lord Harry talking about it on social, because it's that remarkable. Mission Accomplished, Frank.
Wow... that's brilliant. I especially love how open they are about their acquisition cost.
such a refreshing campaign, Harry. and love that you emailed Frank to get the details! you're a journalist, too 👏🏼 👏🏼 👏🏼
Once a customer, always a customer. The LTV of a customer for a business is huge, especially when the relationship is in the long-run. Incredibly high value returns Harry!
Crazy idea. He thought out of the box ☑️
I usually give the products away (I have a premium brand of underwear for men), when they have a sizing issue. So customer buys a 3 pack, but it’s not his perfect size. So I send the correct size right away, and instead of asking to return the unused part of his order, I ask him to gift the product to someone he cares about. Customer loves the fact he doesn’t need to ship anything back, and he will gift someone a new pair of awesome undies. It works wonders, as the customer is already a fan of the product, and will probably convert another person, as the product is excellent. Cheaper acquisition and a nice way to introduce the brand to new people.
Founder of MarketingExamples.com
1yIf you like examples (like this one) you might like my weekly newsletter. Six short, practical examples once a month: https://MarketingExamples.com/subscribe