Earlier this year, we helped migrate one of our first clients onto Shopify Plus. As part of that re-platforming, we tried a new app called Retention Rocket that had dramatic results.
That shouldn't be a surprise if you're familiar with the co-founder. Dylan Whitman started BVAccel, the largest Shopify agency. His experience as an agency owner directly led to the creation of Retention Rocket
- How insights as an agency owner led to the creation of Retention Rocket
- Why rising acquisition costs are the biggest threat to your business
- The intentional reason they're NOT in the app store
Ryan Somrak Started in the eCommerce industry 10 years ago running sales for Bronto software where they grew the company from 0-50M having never raised a single penny of VC funding. Successfully sold to Netsuite for 200M in 2015, and eventually purchased by Oracle in 2016 where he helped open their 1st Santa Monica location. Now Ryan heads up sales at Retention Rocket.
Tune in for more details!
Special Offer from Retention Rocket
- Retention Rocket: Free Install & Free Trial
- 50% Off 1st 2 months Platform Fee
- Dedicated resources to install for non-Shopify Plus stores.
- Example store: Yvonne Estelle's
Kurt: Hello and welcome back to the unofficial Shopify podcast. I'm your host Kurt Elster in a beautiful kind of gray, rainy, but I don't mind Skokie, Illinois, high top, Westfield Old Orchards professional building in. This is my version of Wayne Tower in Gotham city. Anyway, I want to hop in the time machine and tell you a story.
Kurt: A good eight years ago, early in my career before I was the Shopify guide and fully committed to it, I had an office and below that office where some retail shops and there was one wonderful shop called [inaudible 00:00:37] that sold fine linens and tableware and basically expensive French home goods for your house. And it really is very pleasant store to go into and it turned out the owner had an interesting background and was a fun person to talk to and she said, you know, right now my website, I think she used to like Front Page. She's like, I wish I had something better. I said oh I cold help you out with that.
Kurt: And we got them on Presta Shop. And it was way better. But you know, over time it was a big pain. And she stayed on that custom Presta Shop theme we developed for seven years until at the very beginning this year we moved her to Shopify plus and it was just phenomenal. I mean you can imagine going from like old and busted to the absolute super car of a E-commerce platform that is Shopify plus, really had a phenomenal impact on her business. First just in time savings, then second in a better user experience that resulted in a higher KPIs across the board. And then third, the sheer number of opportunities that were opened up by apps. Like in the past, her Google shopping was, she was literally like writing her own Google shopping feed, manually uploading it.
Kurt: I mean, just crazy stuff. So now we get to automate that stuff, which freed up bandwidth for this single owner seven figure business to then turn around and start trying new things. And of the new things we tried was one that utterly prints money and has been a phenomenal experience that I want to tell you about, and that's retention rocket. So it was new to me, I was skeptical, but it looked cool. The more I learned about it it sounded good. So I said, okay, well let's give it a shot. We tried it, and just utter phenomenal success. So I've got with me Ryan Somrack from retention rocket and I'm going to, we're going to pick his brain and hear about retention rocket and why he believes it is absolutely crucial to your marketing, along with a brief history of the platform because it's kind of interesting.
Kurt: So Ryan started in the E-com industry ten years ago running sales for Bronto. It's my understanding that Bronto is like the enterprise equivalent of Klaviyo and he while with them went from zero to 50 million and ACV having never raised a single penny of AVC funding. Yes, a man after my own heart, successfully sold to NetSuite for 200 million in 2015 eventually purchased by Oracle where he helped them open their first west coast office in Santa Monica. And now Mr. Ryan, where are you?
Ryan: Hey Kurt, now we are in San Diego.
Kurt: And whatcha doing in San Diego?
Ryan: Yeah. So I'm running the sales team here at retention rocket.
Kurt: Cool. And what the hell is retention rocket? Describe it for me?
Ryan: What retention rocket does right, is essentially we are a retention platform that is going to gear conversations with folks, sending the right message at the right time to folks, but most importantly through the right channel, right? So if you look at how E-commerce continues to become more competitive as merchants are duly pressured by the increased ad cost and new online competitors, as a consequence of that, right? Teams are getting leaner, larger merchants are cutting staff and smaller upstarts or are comfortable running lean, teams leveraging technology. Essentially what we want to do, right, is build a retention platform that can drive on its own for clients. So that way, again, when they are paying these customer acquisition costs to get people on their site, we're then capturing their information, whether it's email or SMS or Facebook or push, right? And so that way what we're able to do with deliver messages to retain those customers through whatever channel it is that they prefer.
Kurt: All right, so recapping, we run, presumably a lot of folks run Facebook ads. Facebook ads, as we've discussed on the show, are getting more expensive than ever. So you've got this high acquisition cost to drive someone to your website and then once they're there, obviously we want to compete, keep them there. But even if we had some extraordinary conversion rate, like 5% , which would be super high. That still means that 95 out of a hundred people don't buy, but they still, we still spent the money on the ad, right?
Kurt: So we want to convert, retain, as many people as possible into customers. So in the past that's all right, we're going to follow up with some dynamic remarketing and we've got like, if we're really sophisticated, we're going to send it a multi part, so like three or four abandoned cart emails. And that would be part of like a larger piece of software. What I'm hearing is in retention rocket, the sole focus of your automation suite is cart abandonment recovery, really. And in that like just have it, that's just the pure focus and it's doing it in more than just email, to multiple channels.
Ryan: Yeah. So think about it in this way. Right? So we started off, it was only natural for us to start off in the SMS space. Right? So to kind of give you a brief history of retention rocket, right? So our co founder Dylan Whitman was running one of the largest Shopify agencies in North America, BB Excel.
Kurt: Well truthfully, I like, BB Excels' reputation is great. I like Dylan with a lot. I met him a few times and that was part of my interest and willingness to try retention rocket. I'm like if Dylan is behind it, I need to pay attention to it.
Ryan: Yeah. And so that's kind of the initial reaction that most people get when we talk about our, when we introduced SMS right up front, a lot of people are hesitant about it because their initial response is, hey, we don't want to pester the customer through text messaging. And usually our response behind that is, is, well, whether you're sending them a text message, right, versus an email, if you're sending out a four part abandoned series email, how much non pestering are you doing versus you know, sending them out a one time text message to try to recoup that through a different channel?
Ryan: But essentially going back, right, so Dylan working with BB excel, what he was able to do is work with a variety of merchants in the world, right? Surrounding E-commerce. And he kept coming across a consistent problem with these E-commerce shops specifically on Shopify, which was retention marketing was just taking too many systems, too many technologies, and it was way too complicated to execute. And for the people who were executing it, it was costing them so much money to where they were constantly having to worry about the overhead cost of it. So at the end of the day, again, marketing tools should empower marketers and technology should not essentially bog you down. And so that's kind of where we wanted to focus the core solution, is how do we make a tool that's easy to use for everyone. And also a tool that when we turn it on right, you can start seeing demonstrable revenue day one.
Kurt: That's, yeah. Well, that's always a great win for customers. I love that. The common story that we hear from entrepreneurs, from merchants on the show is they have a pain or problem in their own life. They identify a problem and they go, "Hey, I could do this better. Why not me?" And it sounds like that exact same path got followed in software by Dylan, and having you, you said, you know, hey, this thing's going to be easy. It's going to be a quick, fast to use. Having used the thing, that is how it feels like it is no nonsense. It's not bloated. It's not over complicated. Coming from a software development background. I appreciate dashboards like that. All right, so we've established where it came from. Walk me through a certain, you've got to have a roster of cool clients on this thing. Give me a few. Just drop those names.
Ryan: Yeah. We work with a variety of clients. So think of like Ivory Ella, Pura Vida, Kopari Beauty, Head Kandi Pro, Brooklyn. And so those are just a variety of clients that we work with. And then from a total demographic standpoint, right? We work with over a hundred clients today, I, and we're constantly growing again, being only a 13 month old company, having a hundred plus clients. You can kind of see the adoption rate that this is starting to take place.
Kurt: Yeah, I was going to ask, hey, when did this start? All right, so just over a year ago?
Ryan: Yeah, February. That like the first week of February of last year is when we officially kicked things off.
Kurt: Oh, so I'm imagine, you're just starting, you've probably got like these are the core things we fixed and I mentioned you've got a long roadmap, run me through, or we've established what it does, it's retention, but really, you know, we're gonna stop browse abandonment, cart abandonment. Walk me through currently the tools in your toolbox that let me do that. And then some of the stuff that's on the roadmap that's going to be coming down the pipe soon?
Ryan: Yeah, so currently what we do today, right from think of it, from when we launched our MBP, was an SMS abandonment feature, right? So somebody reaches your cart, right? Or they reached the checkout page. Most people are already collecting a phone field in that checkout or cart page, right? And so what we're doing is we're collecting that opt in, right, and then we're triggering out an abandoned text message that goes out to those customers.
Ryan: Additionally from that, right, we're also providing different opt in widgets. So think of tools like texts to opt in. So you'll walk into a lot of stores, especially on Shopify, what you see today, these clients are starting to run pop up shops. So what we're doing right, is we're allowing those customers to do like a text in campaign. So, you know, text Kurt, right to 12345 to receive a SMS, like specific promotions. Right?
Kurt: Those are like, those work well as radio ads. I always hear those on like Sirius.
Kurt: You know, like Howard Stern and they're like text blah blah blah 2345 to get here, you know, free info.
Ryan: Yup. Yup.
Kurt: Okay cool.
Ryan: Yeah. We also do things like form builders, right? So we created, after speaking with some of our customers when we launched them, right? One of the biggest things, or the concerns that they had were, hey, we've been in business right, for ten plus years we've collected a substantial amount of emails, but we've never done text message marketing before. How can we start to convert those people in a rapid growth type way. So what we've done right, is allow them to create a separate landing page, whether it's on their site or whether it's one that we actually can create in the platform itself to where you can now start leveraging the email subscribers that you have and push them through like your normal monthly newsletters that encourage those customers to then sign up for like, mobile VIP offers through the site. Right?
Ryan: So now you've got an email that's triggering out to your normal customers, giving them the ability to now sign up for another channel where they might receive let's say one to two messages per month and that could be just exclusive only to like those mobile users. So that's one of the other tools.
Ryan: We're just also about to release a push notification tool, right? So our whole goal right, is to start now rolling out a lot of these separate performance marketing channels. And then for us, right, it's going to start to determine when these customers are so because we're integrated into Shopify, we're able to track when that order is completed. And so for us, right, it's again, it's not focusing on, hey, we want SMS to be the main driver of it. It's really to understand, hey, this customer is receiving three to four messages a month across email, push, Facebook and text, right? We're now able to track when this customer is purchasing so we can determine like when they should receive which message at what time and when they should start falling off the different engagements from those channels.
Kurt: Oh, so you're adding machine learning to it?
Ryan: Yeah. That's going to be towards like the second half. Now that we're starting to collect all this data, right? Our longterm goal is to start collecting those algorithms on when the customer is purchasing, when they're making that purchase, what channel they're making that purchase on. Right? So let's say if I set up, you know, a five part abandoned series, that five part abandoned series might be a five part multichannel engagement, right? Between SMS, push, email and Facebook. But if I know that the customer purchased after receiving a text message, they automatically fall off the funnel of the remaining channels that are supposed to go out. And then now I know, hey, this customer purchased through a text message at a, you know, a 5% off coupon as opposed to purchasing through an abandoned email where I might have leveraged at 15% off coupon. So again, it's starting, we want to start to leverage again, how you want to start sending out those messages to the customer.
Kurt: All right let's walk through a practical example here, cause my fear is that people aren't grasping how cool this is 'cause it may be hard to picture between, you know, buzzwords like sales channel. Yeah. All right. That wasn't a great example of a buzzword, but the ...
Ryan: AI, AI is a great buzzword.
Kurt: Yeah I did say machine learning. Okay. So let's walk through an example. I'm, we'll go with you Yvonne Stills, since you started with that one, I'm on Yvonne Stills dot com ,I find like, oh, these are the place mats for me. I add these to my cart. I start to check out, the doorbell rings, I moved on. What happens? How are you going to fix this for me?
Ryan: Yeah. Yeah. So from there, right on the backend, we've set up based on, again, working with Yvonne and understanding what she doing from an abandoned email standpoint because it's safe to say, right, most people are sending some type of abandoned email today. Right?
Kurt: Lord I hope so.
Ryan: Right. Yeah. And if you're not ...
Kurt: Get to work.
Ryan: Yeah, right. Yeah. You're behind the game already. So essentially what we did right, is we sat down with Yvonne to understand when those emails are going out from a time perspective, we know from our end, right, that went an abandoned text message is sent out. 97% of the time that message is opened within the first three minutes of receiving that text. So again, you got to think about when a customer is abandoning, they're really essentially abandoning for a couple of reasons. One, there's customers out there that are really just looking for a discount. The other ones, there is something that could come up where they might actually have a question of they abandoned, does the short coming a different color does the shirt, do the shoes coming in different size. Right. My kid threw up in the kitchen sink, right? So now I've got to attack that.
Ryan: So essentially what we're able to do then, right, is trigger out that automated text message to go out after a unique set of timing that the customer chooses. Right. Some of them send a text message out within the first 30 minutes of someone abandoning. Some people send it out after two hours of when someone abandons. So for us it's understanding when they're sending an email. So that way we can determine when we should send out a text. So now let's say I've got an abandoned text that goes out after 30 minutes, right? I follow that up after let's say four hours of sending an abandoned email and then let's say 24 hours from then, right? I want the last notification to be through, let's say their Facebook messenger account if we've collected that opt in.
Ryan: So now I've got three different channels that I'm now following up with the customer to say, to remind them the purchase. So let's say they then received that text message, they open that text, right? They click on the link that's provided there and then they make that purchase. As soon as that purchase is made, right? It's an notifying Shopify on the back end that that order has been completed. So what happens is, is they fall off any abandoned email program that was set up and they would fall off any Facebook notification that's scheduled to be pushed out.
Kurt: Oh dude, sweet. It's painless and seamless. All right. So for my experience with Yvonne was like literally she was like, yeah, let's set it up. And then you guys set a meeting, and then like by that afternoon it was up and running and going. Is that, did she get special treatment because this is, this is one of Kurt's clients? Or is this just because it's this easy?
Ryan: Yeah, no. So it really is that easy, right? So if you, if you look at it, right, the new breed of advanced and fast growing merchants, they just want, they just want software that works, right? They don't want to have to think about it too much. They want it to produce revenue in a way where you aren't bombarding individuals X number of times. And they also want to be able to turn it on. Right? And then kind of let it go from there.
Ryan: So essentially during all of our on boards, that's when we, we sit down with the customer, right, to understand like, hey, what are the different channels that they're already working in today? And then the strategies behind that and then we introduce, right, what are the strategies that we see from a multichannel perspective work for our clients. We set up their campaigns, we configure the best practices behind that and then from there moving forward, right as soon as we turn it on. Right. They've got dedicated teams behind them to help assist in any way because at the end of the day, right, it is software. It's a certain channel that most people have not gotten into. So they need that hand holding experience, which is where we typically win most of the time.
Kurt: All right, so devil's advocate question here is this thing lets you some retention messages through text, number one, and it's actually we should, it wasn't noted, you know when I tested it, it's MMS. So like I got a text message with the product photo in it. It was really cool. You're in push notifications, there's Facebook messenger, there are existing solutions that do all of those things individually. Devil's advocate question, like what's the difference or the advantage here?
Ryan: Yeah, no, that's a great question. Right? So I think the biggest thing that we're going to be focusing on is that these tools that we're going to collectively put into the platform, right, are not going to be things where it takes an entire team to run those technologies, right? So I think that's primarily like the first and biggest thing is that, so ease of use is really our biggest focus. I think the next thing that is going to be the biggest game changer is that we're going to be able to start collecting all of the data and from a predictive intelligence standpoint, right? Predict from an automation way of like, Hey, we noticed that customer A converts 10X higher, throw an email at a 10% off coupon, push them down this flow. But we know customer B converged 20X higher through an SMS and no coupon at all. Right?
Ryan: So maybe we want to save that coupon, right? For someone that we know purchases more through, let's say email, we're going to now push customer B through like the text message funnel. So again, it's starting to understand like, where the customers are purchasing and how often they're purchasing. So then that way you can start leveraging. Another thing that we're looking at right now is, is think of like post mail, right? So companies that we know have purchased, like maybe they purchased one time and they haven't purchased within the last six months, right? Send them actual postcard, a with an offer tied to that, right?
Kurt: Does it do that? Can I do that now? No?
Ryan: No. It doesn't do that now, but that's exactly what we're working on. Right? So ...
Kurt: That's be cool.
Ryan: It's not leveraging just one channel to try to steal an attribution from another channel. We could care less about what, you know, what channel makes the sale. Right? We literally just want to understand from a customer viewpoint, right, which channel is communicating to that person and which channel they're responding the most with. So instead of say, hey, I want to have an email platform, right? And then I want to have a Facebook message platform that's going to try to take the acquisition away from my email, right, now you've got two conflicting platforms trying to steal the attribution. For us it's more about understanding what these customers, or where in the funnel they're making these purchases from first and foremost.
Kurt: Yeah, it's an important distinction that I had not picked up on, that is a big advantage is you've got better attribution as opposed to like last, touch attribution that a lot of these platforms use, so you have like multiple apps all taking credit for the same thing. It's silly.
Ryan: And the hard part of balancing that is right is when we start chatting, like when we go that deep with customers, a lot of the times we're having those conversations with customers that have never done SMS before, So now like you really have to kind of dial it all the way back and and look at first and foremost and say, okay, what are the retention strategies that you're doing today? Most people that we talk to are like, our retention strategy isn't that strong. We're really focused on the customer acquisition side, which we can completely understand and relate with, especially as technologies are changing and the rapid pace that E-commerce is going through. That's a valid point. But people, I think in the next, you know, in the next twelve to 24 months, you're going to see a dramatic change and people trying to focus on how do they grow the LTV of a customer and then how do they grow the AOV of a customer. And that's where I think retention is going to like take over by storm, right?
Ryan: It's because now you've spent all this money to get somebody to your page, so now it's a matter of like how do you get that person to then not only convert one time on that page, but to keep that customer for let's say 12 months, 18 months, 24 months, and to take them from $60 in revenue, right to $120 in revenue over the course of that 12 months.
Kurt: It's absolutely a safe bet, as acquisition costs keep getting higher, eventually currently profitable E-commerce businesses won't be sustainable anymore unless they have that shifted focus to, okay, let's focus on retention and we're going to, you're going to see that represented in a few key performance indicators where, all right, what's our lifetime value? What's our average order value? What's our repeat customer rate? And I think you're absolutely right. Not like, if you're thinking, oh, that's a hot take, it's really not. It's inevitable.
Ryan: It really is. And again, it's not to focus on one channel over the other, like email, like you hear these things, that email is dying, right? Or email is going away, right? That's just 100% false. What's happening, right, is that there's just been so many email providers, right, that the space in general is just a bit saturated and email is so cheap, right? That people can send, you know, five, six messages a week to the same customer. Right. And it's relatively inexpensive, which is why I think email is going to continue to be around.
Ryan: Our position, right, is you need to find, you need to find a real like, almost like painting a picture, right? You need to find a way to where you're not just focused on one specific outlet to start responding to that customer and that's all part of like what we're even learning as a company. Right? Do we know if a back in stock reminder is better notified through push notifications than email or text? Do we, you know, do we notice that hey, a new product launch or, or let's say you know, basically hey an update to some new products that we're rolling out. Like should that be going through an email as opposed to anything else? Do we think a buy one get one free sale is more geared towards SMS then email or push? These are all things that like we're starting to at, and which is I think going to be the biggest proponent of like how customers start to trigger out their marketing messages.
Kurt: No, absolutely. Okay. Going backwards a little bit. What is the, if we've got all of these channels unified in one app and we don't have to deal with a bunch of separate apps and now we're collecting this data. Okay. Then it stands to reason. You may have a cool dashboard, but it's also, it's a 13 month old app so, I don't know if it isn't there yet. Talk to me about the reporting and what that dashboard it looks like a little bit?
Ryan: Yeah. So right now we're able to look at total messages sent right from a channel perspective. So if you sign up and you use like our Facebook tool, if you sign up for obviously SMS and push, right? We'll the able to tell you how many messages are going out through those various channels. We'll be able to report on how many people have opted in through those various channels. Then we can take a look at a sales attribution's as well as revenue generated. Right? So what we're going to be doing moving forward is we're actually going to dive in a little bit deeper from a reporting standpoint. So from like a customer level, right? You can actually look at the customers who have opted in. You can see things like their their last purchase. You can see things like the last item that they abandoned.
Ryan: You can see things like total orders that they have on your site. You can see the average order value that they have on your site and we're actually putting them into predefined segments. So then that way when people start to send like outbound promotionals through text or through push or through Facebook, right? You're now able to maybe not send the same message to everyone. You can now start to dissect, hey, I want this message with free shipping to go to customers that we know have purchased more than twice. We want the customers who have purchased less than twice, right to receive, maybe like 5% off or something like that.
Ryan: So from there, right, we're also going to be tracking things like opens, clicks, conversions, and then we're also going to be, from a diagraph standpoint, being able to show you exactly where customers are opting in. So, for example, right, if we know that we've got 30 customers that sign up for the text to join campaign versus maybe 15 people who have signed up by abandoning a product versus 10 people who have signed up after completing a purchase, right? You obviously want to know where some of these folks are are signing up. So then that way you can also determine like, which message should be going out to those folks as well.
Kurt: So dope, dude, so sick.
Ryan: Yeah, it's exciting. So we're super stoked, you know, like at the same time we've got, you know, we've got a two year roadmap, that like we're looking ahead on which is, you look at that and you're like, shit, like that's a long roadmap. But you think of like where E-commerce is going to be, you know, two years from now. I mean just over the last 12 months, like it's changed so radically, just with the changes that are happening within Facebook itself, right? Like, and the customer acquisition costs between now and 12 months ago. There's just always a constant radical shift. So for us, right, it's the challenge for us is, is staying on focus to the roadmap that we have in hand and making sure that we develop a product that again, is easy to use for the customer. And then first and foremost drives them revenue the moment that they turn it on.
Kurt: So cool. Yeah. Well that was what amazed, me was how rapidly we were able to get the thing going and making sales. But one objection possible, objection here some of the brands you rattle off, I know her on Shopify plus Yvonne Styles is on Shopify plus. Do you have to be on Shopify plus for this thing to work?
Ryan: Yeah, great question. No, you don't have to be on Shopify plus a to use the APP. So right now in its current state, right, we work with Shopify plus and people who are on Shopify, you know, either regular, or if they're on Shopify advanced and Shopify itself is just such an easy platform to work with. It's also a reason that we wanted to start there before venturing out.
Kurt: That makes sense, on the topic I noticed like all right, another devil's advocate question. This thing's not in the Shopify APP store and I noticed like there's some big popular apps that aren't in the APP store. What's the deal with that?
Ryan: Yeah. So in our current state, right, we're really focused on building, with how young we are still in our current state, we're focused on building one to one relationships with our customers and solving their problems. I think over time, right, as our product eve continues to evolve, you'll see retention rocket in the app store. So we're definitely looking at something like that. We just want to make sure that from a timing perspective, that we're able to deliver right, what the customers are looking for.
Kurt: That ambulance you order just arrived. Okay. Nope, that makes sense. The way I'm hearing that as if it was in the APP store, anyone could just click install retention rocket. It's much harder to scale that experience, versus right now it's easier for you to work one on one and have that very high touch onboarding by having it just, okay, you sign up for it on the retention rocket website.
Ryan: Yeah, because here's a perfect example of it, right? We get someone who's never done text messaging before, right? They download the retention rocket app in the APP store having never done anything with text messaging before. Like, their question is going to be, you know, what's the best way to op customers, via SMS, what's the best practices on sending SMS, right? Do I send once a week? Do I send twice a day, right? Do I send once a month? So these are all questions that for each customer, they're all going to be different, right? It depends on are, you know, are you a Pura Vida, right? Versus you know, a TAF clothing. Like are you selling $30 items right, where you don't care what the discount is a or are you selling, you know, $400 pairs of shoes that you're not discounting at all?
Ryan: So for us, right? It's really a matter, the tool we know will be effective, right, when done the right way. And that's why we want to sit down with those customers and really understand like what they're doing today and how we can incorporate retention rocket to take them to the next level.
Kurt: Cool. So what's, what's the typical ROI or results of using retention rocket?
Ryan: Yeah, that's a good question. Right?
Kurt: 'Cause it says you've got so far, you've got a 20 million that you've revenue increase for retention rocket customers. I see that on your website.
Ryan: Yeah. I mean our average, I would say for people who do, from an abandoned cart standpoint, right? I'm just from a recovery standpoint and we've got customers that average anywhere from 300 to a thousand bucks a day, even more, right? Like I don't want to single out the people that we see doing like 4K a day. And I know that's a big average, but it also determines, right, again, like the amount of traffic that they're driving on their site, right? And the actual, the cart value of when someone abandons, right?
Ryan: So I'd say typically, on average you can see about 300 to a thousand bucks per day in revenue. The conversion rates that we're seeing a range anywhere from 19 all the way up to 38% right? We've got a reach a fashion retailer down in Auburn that when we turn it on and we ran a 30 day performance forum, they drove over 40K and sales. They had a 46% open rate and a 38% conversion rate.
Kurt: That's crazy. That's nuts.
Ryan: Yeah. You think about it, right? If you, if you're doing an abandoned cart emails exceptionally well, you're seeing anywhere from let's say like a 12 to 15% conversion rate. Right? That could be fair. So imagine, right? If you increase that even another 9% or 10% what's that doing to the bottom line of the business, and for some of these folks, right? Who are just starting, you know, on a Shopify, an extra 300 bucks a day in revenue is a really big impact for them. So that's kind of some of the things we've seen from an outbound standpoint, people who were doing, I think you'll start to see more and more of this as people start to engage with SMS more, right?
Ryan: The average ROI that we see is anywhere from a nine to 10X on those out bounds.
Kurt: Alright, you've already sold me on it, stop selling, I want it. How much is it going to cost me?
Ryan: Yeah. Right. So we do it based on different tiers, right? So it's based on the amount of orders that they do per day. So it could be anywhere from 99 bucks a month all the way up to 1000 bucks a month. And then from an outbound standpoint, right, they just pay a per message costs on those out bounds. So if they send a regular text message, or like a regular hundred 60 character SMS, you're looking at a penny per message. If they send an MMS like you were referring to earlier where they send something like a picture in there or a Gif, right, you can even include a two minute video inside those tax. You're looking at two cents per message.
Kurt: That's cheap. Is there a set up fee for it?
Ryan: Yeah, so typically there's a setup fee. So what we're going to do for anyone who wants to try it out, right from, from viewing on the podcast is we're going to do a free install for them as well as ...
Kurt: Alright they're gonna shake you down. All right. We'll do a free install. What else do they get, any more? Keep it coming.
Ryan: A free install. We're going to do a free trial for them.
Kurt: How long is the free trial?
Ryan: Yeah, the free trial will last up to 30 days.
Kurt: Okay. Free install ,free trial. Gimme more. I need more?
Ryan: Yup. Yup. You're going ...
Kurt: Let's turn those pockets inside out.
Ryan: So if they want to sign on right after after the trial, right. We're going to do 50% off their first two months of the platform fee.
Kurt: Oh yeah. Okay. All right. That's you've been properly shaken down so we get free install free trial, 50% off for the first 60 days. Did I miss anything? Is that everything? I mean this is pretty good. All right, where do I go to get started?
Ryan: So you're going to, there should be a link that's provided to the podcast, right?
Kurt: In the show notes, all right. Exactly. Yeah, so in the show notes that they sign up through that link, it will then generate back to us to give them that special promotion. All right, listener note. If you're on you're on your phone, tap or swipe up on the episode art and it will open up the show notes and you'll find I will stick that in there. Like big heading, special offer from retention rocket. We turned Ryan's pockets inside out and then that will have the link, like a special shortened link that will take you to the page to get the offer. Or if it doesn't, I'm sure you could just, when you're doing the onboarding doc, I heard about you for Kurt, give me those free 60 days nerd and they should help you out there. Don't call him a nerd though, I guess
Ryan: Say whatever they want when they sign up.
Kurt: Cool. All right, well here I got one. An odd ball question for you. What apps have really good synergy with retention rocket? Like if I really want to make sure that I'm getting the most out of retention rocket, is there anything I should already be doing that would make me a good candidate for it?
Ryan: Yeah, right. So I'd say the, the platforms right? That we're working right now on to build some pretty cool use cases. So [inaudible 00:34:56] won, right? Clavio from like an email perspective, smile.io from a rewards.
Kurt: Love smile.
Ryan: Yeah. Right. So we're working on some really good use cases with them on how they can incorporate SMS to their client base. Right. And then we're also working, we're going to be working pretty closely with recharge from a subscription standpoint, which I think will be, will throw out some really good use cases on people who obviously are abandoning subscriptions or things like auto refill reminders. So stuff like that is going to be down, actually not, pretty far away. So we'll be rolling those out pretty soon. So I think like people that are using those technologies seem to play really well with retention rocket.
Kurt: Super Cool. Wow. All right. I got to go sign up. I gotta go sign my wife up for retention rocket. Thank you Ryan. This has been fantastic. I'm inspired. I got to go set this thing up.
Ryan: Yeah, we appreciate it, man. So thanks for the help.