Remarketing cart and booking abandonment: Q&A with SaleCycle Founder/CEO
We spoke with Dominic Edmunds, Founder & CEO of SaleCycle, to learn more about his company and what they’re working on with clients like Puma and Hertz.
Many online brands use behavioral targeting as part of a remarketing strategy to track customers on websites and use that data for smarter remarketing campaigns. As any Amazon shopper knows, sometimes being reminded of products you previously viewed or added to your cart will nudge you toward going back and purchasing those items.
SaleCyle is one such martech company that increases sales via remarketing cart and booking abandonment, primarily suited for retail, travel, and financial services industries.
SaleCycle works with companies including Nike, Versace, Hertz, Panasonic, TopShop, Sony, HP, and Ralph Lauren, among many others.
We spoke with Dominic Edmunds, Founder & CEO of SaleCycle, to learn more about his company and what they’re working on.
ClickZ: Briefly describe SaleCycle – what’s your elevator pitch?
Dominic Edmunds: We are a behavioral marketing company that focuses on driving conversions.
CZ: What is the biggest problem SaleCycle solves for customers?
DE: Cart / booking abandonment.
CZ: What impact your technology or solution would have if a company were to implement it tomorrow?
DE: It would increase sales, every hour of every day. We can see an uplift in sales as high as 10%.
CZ: Why do customers choose you over your competitors? What do you do that they don’t?
DE: Not only is our solution fully transparent, but I can’t remember us ever losing a head-to-head test as we generate more revenue.
That said, this wouldn’t be possible without the rest of our team. Our customers in particular benefit from best-in-class service to support our technology.
CZ: How many competitors are in your space?
DE: Elements of our offering cross over with the wider marketing space. However, as far as soft direct competitors, we have no more than a handful globally.
CZ: What are you focusing on for the next year?
DE: We will further enhance our product offering and we have new routes to market that we would like to explore.
CZ: What challenges do you see in the industry and what are you doing to prepare?
DE: Legislative changes are the new norm and businesses that aren’t prepared will hit the wall.
It’s my job to keep us ahead of the pack.
CZ: What are some example case studies of value you’ve added for clients?
DE: We worked with Hertz to remarket to visitors who had abandoned a booking. In the auto rental industry, the average booking abandonment rate is currently more than 75%. We set up a retargeting email that achieved a more than 58% open rate and 28% click rate, with a 37% conversion from click.
We also worked with Puma to implement an intelligent cart abandonment email campaign, segmented by location. Those emails secured an average order value of $204 in recovered sales — which added up to a 3% uplift in overall sales.
CZ: What’s your pricing model?
DE: Our pricing can incorporate fixed fees and revenue share.
CZ: Who is your target customer?
DE: The largest brands and businesses with transactional websites across retail & travel.
CZ: If a customer started today, how long would it take them to 1)onboard your product, and 2)start seeing results?
DE: The onboarding process is roughly four weeks with initial results being almost immediate and optimal results within the first month of “go-live.”
Year founded: 2010
Employees: 150
Customers: 500
Martech category: Remarketing
Last funding: Institutional investment from BGF in 2018 (£11.5m)
