Transforming Wishlist Intent into Purchase Reality

Objective: Convert Saved Wishes into Completed Sales

This playbook outlines strategies for developing personalized campaigns to re-engage shoppers who have added items to their wishlists but have not yet made a purchase. The goal is to transform browsing and saving behavior into tangible sales, increasing conversion rates and customer engagement.

Play Concept: Tailored Engagement for Wishlist Shoppers

The core concept revolves around leveraging wishlist data to understand customer interests and purchase intent. By creating targeted, personalized campaigns, businesses can re-engage these potential buyers with offers and communications that directly address their saved items.

Ideal Target Audiences

This strategy is specifically designed for customers who exhibit the following behaviors:

1. Active Wishlisters:
   Customers with multiple items in their wishlists, indicating strong product interest.
2. Long-Time Savers:
   Shoppers who have had items in their wishlists for an extended period without purchasing.
3. Frequent Visitors:
   Customers who regularly browse and add items to their wishlists but rarely proceed to checkout.
4. Notification Requestors:
   Those who have signed up for back-in-stock or price drop alerts for wishlisted items.

Execution Framework

The execution framework involves the following steps:

• Pick the right Data Segment:
  We expose a number of data segments. Pick the segment that correlates to the set of customers who have Wishlisted or Saved products for later by have not purchased:

• Pick the segment you are interested in and the duration for the data segment:
  Pick the customer intent signal - Wishlist, Save For later or both. Once you have the intent signal chosen, pick the time interval for which you are looking to extract the data. Once that has been chosen, then pick the duration for how long the shopper has not made a purchase on the site.
  

• Personalized Outreach:
  Set up the email campaigns. Either use your existing email provider to send out the emails or SMS’es or use Swym to send out the price drop emails
  

• Schedule when you want the emails/SMS’es to go:
  ‍You can choose to send the emails or SMSes immediately or choose to send it at a specific time and then schedule the campaign to be run:

‍

• Sit back and let the conversions begin:
  ‍Once this campaign has been setup, sit back and start to track which customers engaged with the campaign and track the conversions. 

Performance Measurement Framework

Monitor these metrics to assess the effectiveness of the combined alert strategy.

Wishlist Conversion Rate:
Percentage of customers who purchase wishlisted items after receiving the campaign.

Customer Engagement:
‍Increase in site visits, time spent on site, and interactions with notifications.

Revenue Generated:
‍Total revenue from purchases made directly based on the campaign .

Average Order Value (AOV):
‍Comparison of AOV between the customers who received the campaign and general customers.

Notification Open Rate:
‍Percentage of campaigns  opened and viewed by customers.

Click-Through Rate (CTR):
‍Percentage of customers who click on links within the alerts to visit the product page.

Time to Purchase:
‍Time between receiving the alert and making a purchase.

Conclusion: Bridging Digital Intent and Purchase

By developing personalized campaigns for wishlist shoppers, businesses can effectively bridge the gap between digital interest and physical purchase. This strategy not only enhances conversion rates but also strengthens customer relationships by acknowledging and acting on their stated preferences. Tailored outreach, combined with clear measurement and continuous refinement, transforms saved wishes into a thriving sales channel.