Case Study: RFID
Do you know how many of your web site visitors abandon your registration forms and never come back? Industry abandonment rates range from 30% to 65% depending on the type of business. Since these abandoners “almost purchased,” they are some of your best prospects for conversion from visitors to “butts in seats.” In this case study you’ll learn how RFID Journal was able to convert 22% of their abandoners into registrations!
Recovery rate to paid registration
Higher open rates compared to regular emails
Click to open rate (CTO)
Amount recovered from one campaign
RFID Journal is the world’s leading RFID news and information source and it runs multiple conferences every year. These conferences are paid events and are attended by thousands of interested professionals. Typically, when a person registers online they need to fill in a dozen or so fields relating to their personal preferences and conference tracks they want to attend. During the registration process for the RFID Journal Live! event, a percentage of prospects (around the low end of industry averages) abandoned the registration forms for one reason or another. RFID Journal wanted to see if it could increase its conference registrations by utilizing the LassoBack platform to recover some of these abandoners prospects.
“The platform and service have been extremely reliable. We like the ability to segment our list and deliver targeted content. Their cart abandonment system helped us recover some customers that otherwise might have been lost”
-Mark Roberti – Director
OpenMoves placed some invisible LassoBack tracking code on the RFID Journal web site as well as on the secure registration pages. The tracking code enables RFID Journal to track a visitor’s behavior from initial visit to registration. If the visitor leaves the registration pages before completing the registration, he or she is tagged as a “Registration Abandoner” and LassoBack stores the their activity details for a later recovery.
Triggered Email Series: Once you abandon the RFID Journal Live! registration page a series of two reminder emails are sent to you at a predetermined frequency based on your behavior. The first email is sent within 30 minutes of the abandonment with a customer service message, to the effect of, “We noticed that you started the registration process… Click here to complete your registration.” If you do not complete the registration after the first email, you are sent a second email reminder 5 days later with a 15% discount sweetener. Once you complete a registration you are not sent any more reminder emails so as not to irritate you.
By implementing the LassoBack Registration Abandonment emails, 22.5% of those abandoners were converted into paid registrations! In other words, of every 100 RFID Journal LIVE! Prospects who abandoned the registration checkout process, 22 were recovered!
Reporting and insights: At a high level, you are interested in knowing how may people abandoned and how many were recovered. However, if you want to drill down further the OpenMoves’ LassoBack platform allows you to have infinite insight to see when and what a visitor did on your site as well which email was more effective in recovery. You can even map the question fields where each person abandoned and optimize your form and questions to minimize abandonment.
The reason that registration abandonment emails work so well is because you are sending 1:1 emails to people who are already interested in your service and simply need a little “nudge.” Readers engage with these emails at a much higher level than regular email marketing campaigns. The RFID Journal triggered emails have a 3-4X higher open rate (46%) than the normal newsletters. And more importantly, the engagement is 3X higher with a Click-to-Open Rate of 48% (of those that opened the email how many went back to the registration page).
Do you use registration forms to sign people up to a trade show, a conference, for lead generation, or other marketing or fundraising events? Don’t let those that abandoned get away so easily! Talk to us about implementing LassoBack Registration Abandonment or Cart Abandonment on your site!
Read more about the LassoBack Platform
Read more about cart abandonment best practices