Abandoned carts are a common phenomenon in the eCommerce world. In fact, it's generally recognised that between 50 and 75% of carts are abandoned before the final sale. A simple follow-up email is sometimes all it takes to recover sales and up to 30% of potential buyers can be tempted back.
CRM tools allow for monitoring when a sale falls through and abandoned cart re-marketing has regularly seen conversion rates of up to 30%. Major online retailers, such as Amazon, practice this form of re-marketing as a matter of course and it can boost the bottom line of any e-commerce provider.
Some of the most common reasons for shopping cart abandonment are:
A follow-up email gives you the chance to address these concerns and to sell the product a second time.Of course you can opt to reduce the shipping costs, or even offer free shipping for certain products with this 'second chance' offer, which can sometimes make the difference between making a sale and losing a customer.
Simply presenting the product to the customer, once they have had a chance to look at alternatives, can be enough to entice them to complete the purchase, too, and if you can provide them with a friction-less way to click through from the email to the final purchase page can tip many buyers over the edge and help make their mind to buy now and buy from you.
The most successful abandoned cart re-marketing strategies carefully analyse the stage at which the potential buyer discontinued the purchase, as this will often reveal the root cause of the problem. Different re-marketing emails can then be sent to the specific customer that deal with the shipping costs, alternative items within your store that might suit a lower budget or even more expensive items that might equally catch their eye and close the deal.
Adopt a scientific approach to your abandoned cart re-marketing using the latest CRM software and you can recover those lost sales.