“I basically sell money” opens Darryn Hall, SaleCycle’s SVP of Sales in EMEA. “Because in a nutshell, our software makes money for our clients,” as we walk into a pub near their London HQ. SaleCycle is the global leader for cart recovery and they focus on big brands. The company was founded 3 years ago and has grown substantially since, with offices now in 9 countries.
“Everyone thinks that all the travelling I do is very glamorous. But the fact of the matter is, once you’ve seen one airport, you’ve seen them all” expands Darryn. I was also there with Chris Sheen, SaleCycle’s Head of Marketing who promptly gives me an smart envelope stuffed with client stories, and a small Dairy Milk square. I’m glad they want to keep me sweet.
Darryn flips open his laptop and shows the dashboard of their cumulative clients’ data. It shows the amount of carts abandoned, the value of those carts, and how many of those carts have been recovered.
Because it’s so clear, says Darryn, their clients are very happy with it. Their clients know exactly what’s going on, and how SaleCycle are making money for them. If you get to see it yourself, it’s a very straight-forward interface and exactly the kind of thing I imagine you’re looking for!
One of the things which SaleCycle were keen to emphasise was that they don’t actively encourage clients to offer discounts and promotions. Why? They said that competing software companies may offer these discounts to increase cart recovery. But this does hurt the bottom line.
It trains consumers to deliberately abandon carts in order to get a discount. In one instance, a cart abandoner was sent a discount code and they put it on vouchercodes.co.uk. Hundreds of customers then redeemed this code and the retailer had to give many more discounts than they expected. This gave that software provider, and the industry, a bad name at the time.
What surprised me about the cart recovery industry as a whole, was that SaleCycle appear to be one of the few cart recovery software which offer A/B testing. It’s such a simple marketing technique, you’d think that every software provider would offer it. But apparently not.
Chris and Darryn told me about how their teams test different wording, different pictures, email timings, subject lines, colours and Call-to-Action buttons in their cart recovery emails. It was impressive to hear – how focused they were on improving cart recovery rates and average order value (AOV). If you’re with another provider your techniques may stagnate. Whereas SaleCycle appear to be much more dynamic, and look to improve your bottom line. Read their ebook to find out how they do it.
In fact, they said one Oxford Street retailer had just switched to SaleCycle from an alternative software provider. Why? Because SaleCycle could recover more revenue, and they had that potential to grow as well.
It’s worth mentioning that SaleCycle offers beautiful creative emails. They have design in-house, which can put together cart recovery emails that reflect the brand of a client. Have a gander at their lookbook here for other examples of their work. Chris said that design and wording plays a huge in role in whether a consumer clicks through or not.
In a sense, SaleCycle have been a bit too successful. They currently have over 100 clients in the queue for implementation. Therefore, they tend to limit themselves to enterprise-level brands which typically turn over £10m+ a year. That’s their sweetspot for an ideal client.
SaleCycle’s software integrates with all of the major Email Software Providers (ESPs) and Ecommerce platforms.
Pricing tends to be based on a Cost-Per-Acquisition (CPA) or a Cost-Per-Lead (CPL) basis because that gives SaleCycle the incentive to improve their results. It’s typically a percentage, but it’s always negotiated, since different industries operate with different profit margins.
I can whole-heartedly recommend SaleCycle to you if you’re a big brand with a big online presence They are the market leader for cart recovery software. And for good reason. They’re very transparent and honest with their results. They’re always looking to improve your profitability. They were also really friendly to work with!
If you’re a larger company, they’re likely to be the right choice for you.
Disclosure: SaleCycle did pay for lunch and a beer.
Monsoon’s statistic of a 4.3% increase in sales (above) was independently audited and had legal sign off.