PeC: What does Second Bite do for online businesses?
Herman: Second Bite gives the merchant the opportunity to remarket to any individual who, for whatever reason, is not able to complete the purchase at the time of the site visit. We get back in front of that consumer with a targeted, branded email with a link in the email that’s coded to bring them directly back to the page where they abandoned. So, shoppers are not going to have to reselect the items, they will still be there waiting for their return.
PeC: Clearly you need an email address to make this work. What if customers don’t submit an email address?
Herman: There are three ways we can capture an email address. The first is that the customer enters an email address. The big thing about our product is that customers don’t have to hit the “submit” button to capture that data. Second, we can associate “known shoppers” for that merchant. If someone is a registered user on your site, we can capture an email address by associating it with a known user. We also have the ability to recognize people on our network. We know you’ve made a purchase on “Merchant A.” You leave that merchant to go to “Merchant B.” If merchant A and B are on our network, we’re able to associate a known email address with an individual user.
PeC: How do I know you are being careful with my customer’s data and not providing that information to any competitors?
Herman: We provide a very specific and a very explicit privacy and use policy. We promise not to share, sell or rent that information.
PeC: How does Second Bite make money?
Herman: Second Bite works as an affiliate so the only cost ever associated with using Second Bite is any recovered sales or recovered sign-ups. We sign up as an affiliate in their affiliate network manager and accept whatever payout terms that are listed for that merchant. It it’s a percent of sales, we take a percent of sales. If it’s a dollar amount, we take that dollar amount.
PeC: Does this kind of technology really work? What kind of results could I expect if I deploy order recovery solutions like Second Bite?
Herman: On average, we are showing 35 percent to 40 percent click-through on the emails we send. On the smaller to mid-sized merchants, we’re actually seeing a 3 percent to 6 percent increase in monthly revenue.