Consumers are more distracted than ever thanks to the availability of information at our fingertips. For the eCommerce industry, this means shoppers are doing more window shopping, price comparing, wish-listing and exploring gift options, all decreasing the likelihood of completing the purchase within the same session. In fact, 58.6 percent of US online shoppers have abandoned a cart within the last 3 months because they were “just browsing” or “not ready to buy.” While sure, this is the reality of online shopping in a hyper-connected world, there are still several issues that can be addressed to avoid the loss of a sale. For marketers, this means engaging customers and bringing them back to their site before it’s too late.
With approximately $4 trillion worth of merchandise being abandoned in online shopping carts per year, 63 percent of that revenue is potentially recoverable. That’s $252 million in potentially recoverable sales! $252 million, all by introducing a streamlined Cart Abandonment series to your marketing strategy. Using a Cart Abandonment series will remind your customers that they abandoned their cart before purchasing by utilizing timing and critical offer to engage them before it’s too late.
Identifying shoppers who abandon their carts
Often times, retailers will send cart abandonment emails only to those who are logged into their accounts as that is the easiest group to message to. It's important to extend reach by capturing everyone who has abandoned their cart - a behavioral marketing platform will keep track of all your shoppers regardless of when or where they shop.
Boost results with these quick tricks
You’ve probably heard quite a lot about the importance of “real-time” email triggered sends, but is it really that effective? We put it to the ultimate test - the A/B test - with nearly all of our customers to find out when the best time is to send cart abandonment emails. Read our A/B test blog post that reveals when the best time to send cart abandonment emails.
If at all possible, include the items abandoned and direct consumers to the cart instead of the product page.
How to set up your cart abandonment emails to send in real-time
Sending triggered emails directly from your ESP can have its challenges. Often there is a delay in data collection from your ESP. Or they don’t recognize that someone is on your website unless they are logged into their account. That’s why having a behavioral marketing platform integrated with your ESP and analytics will allow you to send cart abandonment messages in real-time. Beyond cart abandonment, with a behavioral marketing platform, you’ll be able to set up triggered messaging based on any real-time behaviors.
Go further into the cart funnel and message based on checkout
It's not enough to simply set up a cart abandonment email regardless of where they abandoned. Go further and set up a separate email series based on abandonment in the checkout process. To make it easier - we compiled 6 Fixes for Checkout Abandonment.
It’s essential to remind the customer of the items they abandoned in your email. Do this by putting the product in the hero image, and finish off the email with a strong, relevant call-to-action such as “Complete your purchase!” Don’t give your customer the option to walk away before buying. See visual examples of email creative at the bottom of this blog post!
Cart Abandonment Results
Value City Furniture Let’s take a look at Value City Furniture. They used their existing ESP to trigger cart abandonment emails, but knew that they weren't capturing all visitors. They used our integration with their ESP to target all visitors who had abandoned their cart and include the images of the products they had abandoned. By automating this personalized shopping cart abandonment program, they were able to capture 283% more revenue in just a few weeks compared to their ESP's performance alone.
Boston Proper Then, there’s Boston Proper, who had also been running a cart abandonment program with their ESP before working with SmarterHQ. Using their previous cart abandonment program, they weren’t getting proper reach, timing, or successfully inserting products into their email. With SmarterHQ, they ran a single drip cart abandonment program containing personalized messaging to remind abandoners of items they’d shown interest in before leaving the site. With this approach, the retailer’s reach increased by 24%, conversion increased 13%, and last-click revenue increased 81%.
With our own clients, we’ve seen on average a 345% increase in cart abandonment revenue when they replace their cart abandonment vendor with SmarterHQ. Seems like a no-brainer right?
So there you have it-- Cart Abandonment. Ready for more? Check out our Behavioral Marketing Playbook for eCommerce >>