Before you beat yourself too hard, it will interest you to know that at least 7 out of every 10 people who add items to their cart are likely to abandon them. That is to say that, for all your efforts to get visitors to your website and interest them enough to want to make a purchase, you are only likely to reap 30% of your effort. This value, however, varies across industries. For example, the Fashion industry faces a cart abandonment percentage as high as 90%, followed closely by cosmetics and electronics stores.
Why Potential Customers May Abandon Their Carts
Though there are various reasons a potential customer might abandon their cart, the most common reasons among them, according to a research survey from Baynard Institute, are:
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Extra or additional cost to purchase goods, e.g. shipping
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The need to create an account before completing a transaction
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The required payment method is unavailable
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Long or tedious checkout processes
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Unclear pricing
While you cannot convert every website visitor to complete a purchase, there are various marketing and abandoned cart strategies that can help you get your numbers up.
This post outlines 5 abandoned cart strategies that eCommerce and marketing managers can employ to improve revenue generation from abandoned carts. Recovering 1% of your abandoned cart improves your revenue by 10%.
5 Abandoned Cart Automations to Increase
Your Revenue
1. Cart Abandonment Emails
Email marketing has one of the highest returns on investment for small businesses. Most eCommerce businesses resort to email automation when dealing with cart abandonment. Email automation software can help tracking visitors who have added an item to their cart and send them intentional and regulated emails to get them to go back and complete a purchase. Though an estimated 66% of abandoned carts are recoverable, it is essential to use intuitive marketing strategies to increase the conversion rate of your cart abandonment emails. The best way to use email marketing to return these abandoned carts is by sending a first email a few hours after a cart was abandoned, and if the user still hasn’t returned and finished their purchase, send another email 24 hours later with a special offer - free shipping, discount for next purchase, etc.
2. Text Messaging (SMS) Automation
Abandoned carts are also recoverable through SMS messages. These SMS messages, usually short and easy to read, are sent at regular intervals to potential customers with a link that returns them to the cart to complete transactions. According to Mobile Usage Report (2019), 90% of all text messages are read within the first three minutes, making SMS automation a viable approach to recover abandoned carts from potential customers.
3. WhatsApp/Telegram Automation
WhatsApp and Telegram are widespread messaging platforms. WhatsApp averages two billion monthly active users. The probability of your potential customers using either of these platforms is always high. Use cart abandonment WhatsApp/Telegram automation to send messages including a link to return to their cart and complete their purchase.
4. Exit-Intent Pop-up
Exit-intent pop-ups can take the form of chatbots or polls that pop up on the shopping cart page when triggered by user actions such as mouse clicks or scrolling. These pop-ups can alert your potential customers of items in their cart when they try to exit or activate a chatbot to find out why they may want to leave without completing a purchase. Typical among them is the use of polls, which are easier to respond to.
5. Remarketing Ads
Remarketing Ads is a form of online advertising that allows you to market directly to your site visitors. Potential customers who abandon their cart can be remarketed to on the various other websites they visit. This approach is most effective for users who abandon their cart because they need to think about it. It serves as a subtle reminder.
Conclusion
Cart abandonment cannot be dealt with entirely. There is no such thing as a 0% cart abandonment rate. Your potential customers are likely to abandon their carts for far-fetching reasons you can ever think of. The logic is to increase revenue through abandoned cart automation and strategies.
With FORTVISION, you can implement all of these cart abandonment strategies seamlessly in our all-in-one marketing automation platform. Utilizing behavior targeting and segmentation, we help companies and eCommerce brands deliver highly personalized customer experiences that increase engagement and lead to higher conversion.