Connect, Educate, Learn, Collaborate...
Connect, Educate, Learn, Collaborate...
With the holiday season around the corner, merchants are excited about the opportunities to increase sales and maximize revenue. They make sure that their holiday marketing strategy intact and everything is running smoothly for the upcoming holiday season.
Every retail store associate knows this basic fact: if a customer takes their cart or basket up to the cash register and then turns back, you need to see to that customer’s needs. Asking if they forgot something or if there was something they couldn’t find is the best place to start, but there is no good reason a customer should opt-out of making a purchase when they are all set to check out.
Like brick and mortar retail, e-commerce also uses a cash register: the digital shopping cart where items are added to a customer’s order. If your customers are adding items to their cart and then abandoning your site, there must be a reason. Every customer that creates a cart and then bounces is abandoned revenue, and your e-commerce site is leaving money on the table if you aren’t trying to salvage or close abandoned carts in some way.
You can reach out to your most engaged audience, your customers and subscribers via email. Showing these audiences the value that your store offers, particularly within the holiday period, is the secret to conversions. Tweak your checkout system and start sending out emails to reconnect with customers and potentially close those abandoned cart sales.
Want to see your sales and order numbers go up? Let’s talk about how you can avoid abandoned revenue using abandoned cart emails.
According to a study by Klaviyo’s Abandoned Cart Benchmark Report of 3,000 brands, abandoned cart revenue accounts for roughly $60 million in lost sales over ninety days.
Sixty. Million. Dollars.
I’ll let that sink in.
If you aren’t trying to win at least some of those lost sales back, you’re in the wrong business. The good news is there is a solution: sending timely, relevant emails to customers who abandon their digital carts at checkout.
With the amount of research and data available, it’s fairly easy to ascertain why so many customers abandon carts during ecommerce transactions. Here’s a quick rundown:
-Shipping is too expensive (63 percent)
-Discount Code Malfunction (46 percent)
-Extended Shipping Delay (36 percent)
-Credit Card Info Re-Entry (30 percent)
-Shipping Info Re-Entry (25 percent)
Potential customers aren’t abandoning their cart because they don’t want your product; they abandon their cart because there are significant obstacles to a smooth transaction and quick delivery. If you address these issues and reach out via email, you may just get to keep that potential revenue after all. The secret is in how your emails market to those customers who bounced instead of buying.
The idea of sending emails to customers who abandon their carts is not new, but it does require some strategy and subtle writing to be truly effective. We’re also going to assume that customers have already entered their login or their email address to get to the checkout page. If you’re not collecting that information now (though why on Earth wouldn’t you?!?), there is no time like the present. Here are the critical components of an abandoned cart email that drives conversion from lost sales:
Keep your subject lines brief, clear and on point to garner customer interest. There are three strategies for doing this, and you need to weigh the pros and cons of each to decide what is best for your brand:
The purpose of your subject line is to get those potential customers who abandoned their cart to open your email. Don’t make it a typical subject line, though. You need to create a sense of urgency. For example: “Your new product is almost sold out! Use this coupon for an extra 10 percent off!”
Or, you could simplify it even further with “Get your new favorite products before they’re gone!”
Remember 1. Short 2. Get to the point! 3. The objective is an opened email and a potential clickthrough.
Everyone wants to feel known, appreciated and respected. These are basic human needs that can pay large dividends in repeat business and brand loyalty when you apply a little strategic marketing. Brands who personalized abandoned cart emails using automated tools (adding names and items to mass email) saw a 17 percent increase boost to revenue. Here’s how to make these emails convert:
Category= “Get Your New Accessory Before We Sell Out!”
Type= “Get Your New Magnetic Phone Clip Before We Sell Out!”
[John], Get Your New Accessory Before We Sell Out!
[Jacqueline] Get Your New Magnetic Phone Clip Before We Sell Out!”
[Jason] You forgot something!
Most people feel compelled to answer when you ask them a question. Using this tendency is a great way to convert more abandoned cart shoppers into buyers. Here are some techniques:
“Did you forget to add something to your order?”
“You might have forgotten something…”
Using these techniques and test marketing your abandoned cart email campaigns, you will see a jump in both revenue and sales numbers. Strategize, organize and compose your emails from the type of abandoned cart customer you are attempting to win back, and you will see those numbers jump even more. Stop losing revenue and sales, and start winning your customers back with abandoned cart emails.
Every week, we share insider tips to building your brand, increasing your traffic and growing your sales online