Seven out of ten users that come to your Magento 2 store don’t complete the purchase leaving the cart abandoned. That is the reality.
Then we thought whether there was some way to keep users in store converting them into customers. The things we tried and that worked we’ve described below.
How much you lose because of abandoned carts
Before we will make some calculations, let’s take a look at the general situation in e-commerce. What percent of abandoned carts is normal?
According to Statista, 69,57% of online carts were left without purchasing in 2019. By the way, this number is stable for 5 years already:
How much is this? Let’s take an example. Say, you have a Magento 2 store, you get 10 orders a week, with an average check in $40. So you earn at least $400 a week. Now we’ll calculate what revenue you can have if all the users who visit a cart page will place an order. We know that 10 orders are only 30% of your potential income, according to the statistics. The total number will be 33 orders a week. And they will bring you $1320, which is 3 times more than now. Just multiply this figure by the number of weeks in a year, and you will get almost $50 000 of lost profit.
Everyone understands this is a hypothesis because it’s impossible to achieve 0% of cart abandonment. But just keep this ideal number in mind.
Now you can make the same calculation for your own Magento 2 store and see how much of the lost profit you have.
Why your customers leave the store
To get real growth, you need to find and eliminate the main reason for cart abandonment. Perhaps you already have an idea of what the problem could be. But knowledge of branch statistics will bring you confidence in this question.
Baymard Institute reports that the main reason for cart leaving is “I was just browsing / not ready to buy”. But if we cut the percentage of users who aren’t ready, you can see the following statistic:
Looking at this graph from the abandoned cart report you may meet the case of your Magento 2 store. Fortunately, to find a solution to each problem from the list is quite simple. Below we offer some ideas for better conversion optimization of your Magento 2 store:
- Enable one-step checkout without obligatory logging in or add the opportunity of a quick login via social networks.
- Make clear all the extra costs and fees such as shipping, taxes, etc.
- Minimize delivery costs or even enable free shipping for your customers under certain conditions.
- Keep the cart notable with AJAX shopping cart and show the total price with every click on the Add to cart button.
- Add safe payment options to your Magento 2 and 3D Secure support.
- Add cash on delivery as a payment method to your store.
In other words, you should provide your customers with a clear and convenient checkout that won’t bring any unpleasant surprises.
Abandoned cart add-ons by Amasty
If you want to motivate abandoners on the purchase, try our Abandoned Cart Email for Magento 2. This extension allows you to send special promotions for those users who have abandoned carts automatically. It has pre-made templates that you can customize and a built-in coupon generator.
You can customize fonts, colors, and add different variables to the pre-made template, including coupon codes. You can set the schedule of your email dispatch to automate the process.
Also, you can track your results in the Magento 2 Abandonment Cart report on the statistics page to make data-driven decisions.
This module provides you with the opportunity to return up to 90% of abandoners and convert them into purchases. Stop losing your profit, try Abandoned Cart Email!
How to make your abandoned cart emails work
Here are a couple of tips on how to get the most from your abandoned cart emails.
Timing is everything
Your best bet is to send a total of three emails at separate stages. The exact timing is a relative subject. However, a study shows that the first 24 hours have the highest return rate.
The first email should be rather helpful than selling. Bigcommerce estimates that sending the initial email the same day the cart has been abandoned, gives the highest return, after approximately 4 hours.
A good time to send the second email is about 2 days after the abandonment, as Shopify suggests. It can contain a sense of urgency, notifying that the stock is running low, or there is a limited-time discount available.
If by then, the customer has not decided to make the purchase, you can send a third email with an incentive, such as free shipping via our Magento 2 Abandoned Cart email extension.
Important note! Take these numbers as examples and tweak them while testing your email campaign to get optimal results. All clients react differently to email remarketing, so adjust your campaign according to what the majority of your customers like.
Let’s check out some examples of email templates designed to bring customers back to their abandoned carts by using different techniques for attracting attention.
Keep a friendly tone
“They’ve got my bag? How sweet!”
Clarity over creativity
“I always forget my coffee cup up there…”
What customers are missing out
“They have a pool? Well, count me in!”
“I do have great taste! Thank you!”
Show off your great return policy
“Well, if they are so cool with returns, why not try that dress anyway?”
Offer free shipping
“That skirt was expensive, it doesn’t make sense paying for shipping… wait, free delivery?”
Call to action
“£14.60 from Leeds to London? I didn’t see that while browsing, let’s take a look…”
Urgency boosts conversion
“I really liked those drawers and I can’t find them anywhere else…”
Give an incentive
“Levi’s is offering 25% off those cool jeans I saw? Why not?”
Segment the abandoners, start testing and optimizing
You can determine why your customers abandoned their carts by running surveys and simply ask them. Based on the feedback, you can segment the users according to the exact reasons such as “unexpected costs”, “too long checkout process”, “better prices elsewhere.”
From there on, start testing your email campaign, track how things are going, and optimize certain elements to see which strategy fits your customer base the most. There are a lot of variables you can use:
- The timing
- Template design
- Call-to-action phrases & buttons
- Graphics and images
For better results, we recommend you use Abandoned Cart Email together with the Exit Intent Popup. According to eCommerceMILO, exit pop-ups can help you convert 10% of abandoned carts into completed orders. This module shows users a catchy popup with subscription possibility when they intend to leave your store.
You can customize the popup content any way you wish: offer your abandoner something they won’t refuse. Set up automatic email dispatch involving users into purchasing without wasting your time. But not only the content is customizable, but also the visibility.
Exit Intent Popup helps you retain users’ attention and increase sales. Start using this plugin and reduce the abandoned carts rate!
That’s all for today.
Share your thoughts about solving this problem in the comments below! We will be glad to make an experience exchange.