Back in Stock Alerts are an amazing tactic that satisfies the needs of both the consumer and the retailer.
Lititz, PA (PRWEB) April 02, 2014
Listrak, an innovator of omnichannel digital marketing solutions for retailers, recently released a new whitepaper, Back in Stock Alerts – Save the Sale and Boost Your Subscriber Base. The whitepaper details how retailers can turn the negative experience of having an online shopper try to purchase a product that is out of stock into an opportunity to generate additional revenue.
Inventory is a challenging aspect of retailing, and each year retailers lose an estimated $93 billion due to out of stock inventory. On one hand, potential future sales can be lost by removing out of stock items from a website. On the other hand, consumers who attempt to purchase a product that is out of stock are likely to leave the site and purchase elsewhere, resulting in lost revenue for the retailer.
Listrak’s latest whitepaper explains how a Back in Stock Alerts solution can not only help save the sale, but also result in additional revenue. With a Back in Stock solution, a customer who attempts to purchase a product that is out of stock gets a popup notification offering the option to provide an email address to be contacted when the product comes back in stock. If and when the product comes back in stock, an email is automatically generated that reminds the shopper about the item and her wish to be alerted and makes it easy for her to return to her cart to complete the purchase.
In addition to the obvious benefit of saving the sale, the whitepaper explains, a Back in Stock Alerts product allows the retailer to collect email addresses that may be used to continue to engage shoppers with other emails, such as daily or weekly email blasts and shopping cart recovery, and even to recommend alternative products in the event that the out of stock product gets discontinued or takes a while to come back in stock.
The whitepaper also notes that a Back in Stock Alerts program provides the additional benefit of providing retailers with insights that can help them to improve inventory management. Back in Stock Alerts reporting helps retailers to identify brands or products that are often out of stock and the number of shoppers interested in them. This information can be crucial in avoiding both under- and over-stocking and is particularly helpful for retailers who crowdsource or stock and re-stock based on customers’ expressed interest in particular products.
Listrak Co-founder and CEO Ross Kramer comments, “Back in Stock Alerts are an amazing tactic that satisfies the needs of both the consumer and the retailer. We know that consumers value alerts, because Back in Stock emails receive exceptionally high open and read rates, as well as click through and conversion rates. And retailers value them because they clearly allow them to generate additional revenue.”
The whitepaper concludes with best practices for implementing a Back in Stock Alerts campaign, such as keeping the customer engaged until the product comes back in stock and using alerts to present additional personalized product recommendations. The whitepaper, Back in Stock Alerts – Save the Sale and Boost Your Subscriber Base may be downloaded on the Listrak website.
Listrak is an omnichannel digital marketing solutions provider that works with retailers to drive revenue growth, profitability and increase the lifetime value of customers. Founded in 1999, the company’s solution suite boasts analytics technology that enhances campaign performance, shopping cart abandonment solutions that help recoup lost revenue, post purchase solutions to increase lifetime value, seamless integration across multiple platforms, as well as email, mobile, social and more. Listrak has more than a decade of digital marketing experience and works with leading U.S. online retailers, including Deb Shops, Waterford, Swell, Speigel, The Grommet and La-Z-boy. For more information, visit http://www.listrak.com.