We bet it’s hardly possible to find an online merchant who has never faced the problem of cart abandonment. According to the latest statistics by Sale Cycle more than 73% of customers leave their carts without completing the purchase. But does this tendency really pose a threat to your business? In our article we’ll share some complex marketing solutions that will definitely help to win back abandoned shopping carts and significantly increase your revenue.
Why do customers leave their shopping carts?
First of all let’s define the triggers that make customers leave online stores. This is a very important step as it helps to correctly segment your target audience and find appropriate approach to each audience group. In the most recent studies provided by Ritholtz.com, researchers innumerate a whole range of reasons why online shoppers abandon their carts:
Among other reasons customers also specify the following:
– There is no guest visitor checkout option (14%)
– Too complex checkout process (11%)
– Slow website (11%)
But marketing specialists suggest paying attention to one more group of customers – to those, who abandon their carts in the time period between 1 pm and 2 pm.
Who are those people who browse through online shopping websites and then abandon their carts during the lunch time? Usually these are the office employees who try to grab a couple of free minutes during the lunch break to find the products they need. But when the break is over they have to close the website without making a purchase.
Effectiveness of Email Retargeting
As soon as we’ve defined the reasons that make shoppers leave online stores without purchases, it’s high time to act. Taking aside usability aspect which, of course, is very important (see the above statistics), we want to concentrate on the effective customer motivation tools.
Sale Cycle asserts that each abandoned cart recovery email brings back up to $6 to the online store and according to SeeWhy.com indecisive cart abandoners spend about 55% more than customers who are ready to pay at once.
Moreover, it’s also noted that abandoned cart emails generate much higher revenue than other marketing campaigns. So, why ignore this great tendency depriving ourselves of the opportunity to win customers back and visibly boost conversions? Especially if to take into consideration that you can make it with one single Magento extension.
Best Email Strategy
While each particular business as well as each particular client requires a unique approach, it’s worth creating a single reminder email first and then turning it into a full sequence of emails if needed.
In the table below you’ll see the example of a sequence of triggered emails that should be sent to customers to effectively motivate them recover their carts:
|Email #1 – is sent within 24 hours (according to the research results by marketingcharts.com)||Write the email in a neutrally-helpful manner and don’t sound too official. The subject line can be like: “Hey…. having any problems checking out?” or “Did you forget something?”
Remember to add your support phone number, satisfaction guarantee, a quick recovery link and a call to action phrase.
|Email #2 – is sent in 23 hours after the first reminder||In case the cart abandoner ignored your first email, you send the second reminder that offers not only to recover the cart, but provides customers with a discount.
The discount should be mentioned in the email subject. For instance: “10% off your [company name] order”
Make sure you’ve included the coupon code and placed the quick recovery link so that customers will easily notice it.
|Email#3 – is sent in 7 days after the second reminder||If after the second email a customer still hasn’t recovered his/her abandoned cart, send the third email. It may be identical to the previous one, but contain a bigger discount, let’s say 20% or 25%.|
Note! According to your business specifics the frequency of emails, as well as the discount amount and the template content should be thoroughly tested to find the combination that fits you better.
Along with optimal email frequency it’s very important to provide customers with relevant content and quality product images. That’s why we recommend you pay attention to the following aspects:
Product images – they are a must-have for each recovery email you send. Let customers see what they buy quickly refreshing their memory with clear product images.
Phone number – show to customers they can contact you any time they have a question or need your assistance, thus increasing your shop credibility.
Quick recovery link – help your clients easily restore their carts in just one click. Remember, the easier customer’s way to the cart is, the higher conversions rate you have.
Still aren’t satisfied with the results?
And that’s perfectly OK while you’re ready to work on your abandoned cart emails. Here are more ideas!
Make sure you’re aware of your competitors’ shopping cart abandonment policies. Check emails they send from time to time and pay attention to:
- Style and tone. Maybe you need to add some fun or friendly suggestions to your email. Like that:
- Add a bit of urgency. A bit only! You can inform the customer that the products left in his cart are still on sale, but soon won’t be, or the product quantities are limited. But don’t be too pushy, as this may spurn your potential customers.
- Don’t forget to look at emails from big retailers like Macy’s, Fab, Apple etc. They have great opportunities for testing new practices, and you can be sure they won’t use any strategies that won’t help reducing shopping cart abandonment rates.
- Consider including an opt-out link, especially if you’re planning a series of follow-up emails.
- Car abandonment emails can be of real help when it comes to revenue, but don’t overdo it. Some customers are really smart! If they know they’ll get the discount for sure, they are going to abandon carts deliberately and treat your products as overpriced if you provide discounts easily. In other words, be generous, but don’t train your customers to abandon their carts just for getting a freebie and also do your best to persuade them before they are going to leave their carts for good.
Now, we hope, you can answer the question whether cart abandonment poses a real threat to your business or not. Numerous surveys prove that a carefully planned marketing campaign can not only win your customers back, but to increase your revenue and encourage satisfied visitors actively spread the word about your online store.
Please feel free to ask questions and share your ideas in the comments field.