As the holiday fervour escalates, Black Friday and Christmas window shopping surge, leaving a trail of abandoned transactions. Annoyingly, each abandoned cart represents potential revenue slipping through the cracks, costing businesses hundreds to thousands of pounds. With an estimated 70% of shoppers leaving carts during checkout, this epidemic stems from various issues—from website performance and trust concerns, to unexpected shipping costs. The real challenge, however, lies in enticing these window shoppers back to your site to complete their purchase.
What is cart abandonment?
Let’s start by clarifying cart abandonment—it’s the percentage of eCommerce visitors who add items to their cart but exit without making a purchase. Retailers find it frustrating because when customers add items to their cart, it signals clear interest in products. However, something hinders them from completing the purchase.
How to calculate your cart abandonment rate
Calculating your cart abandonment rate is crucial for understanding the gap between potential sales and actual conversions. It’s a simple yet powerful formula that any business can try.
Abandonment Rate = [(Total Carts Created – Total Orders Placed) / Total Carts Created] * 100
For instance, if your store generated 500 carts but only completed 250 orders, the calculation would be [(500 – 250) / 500] * 100, resulting in a 50% abandonment rate. To get precise numbers, try using online tools or platforms to track your cart activity. Similarly, cart abandonment rates can be tracked using Google Analytics.
Monitoring this metric is helpful because a high cart abandonment rate often indicates issues like a subpar user experience (UX), complex site navigation, or glitches in the sales process.
Retargeting ads: Your persistent brand presence
When budget constraints limit a comprehensive UX overhaul, turning to strategies aimed at re-engaging cart abandoners becomes pivotal. Among these tactics, retargeting ads take the lead, offering a focused approach to recapture lost opportunities.
Segmentation for tailored campaigns
By tracking and segmenting those who left without making a purchase, businesses can create tailored campaigns to reignite their interest. These ad campaigns span diverse platforms, from Google Ads to social media and beyond, increasing the chances of re-engagement.
Sharing compelling ad content is at the heart of this strategy. These ads aren’t mere placeholders; they’re attention-grabbing, persuasive messages. By creating captivating visuals, punchy headlines, and irresistible offers, you can effectively beckon users back to the carts they abandoned.
Dynamic and personalised product ads steal the spotlight, showcasing the exact items left behind. Add a pinch of urgency with personalised discounts or time-limited offers, and watch hesitation turn into action.
Don’t forget to test, tweak, and refine your ads. A/B testing helps discover the winning formula—what message resonates, which visuals compel action—leading to higher conversion rates and better ROI.
Through tailored campaigns, compelling messaging and personalised content, businesses can notably boost conversion rates with retargeting ads. These ads ensure businesses are staying top of mind with the customer, enabling them to seize sales opportunities even after cart abandonment.
Email reminders: Perfect timing for customer engagement
What is a cart abandonment email?
A cart abandonment email serves as an effective reminder and reengagement tool for users who leave items in their online shopping carts. Initially, it gently reminds users of their abandoned cart without offering an immediate incentive, prompting them to revisit the items they left. Subsequently, it strategically creates urgency and enticement, nudging users toward completing the purchase.
Initial email: The first email is sent within a couple of hours after cart abandonment, focusing on reminding users about their left-behind items without offering any immediate incentive. You can do this by incorporating the shopper’s actual shopping basket that was left behind into the email thread.
Second email: The second email, sent 24 hours after abandonment, creates a sense of urgency by presenting a limited-time offer, emphasising that the items might not be available for long, and showcasing social proof to motivate a purchase.
Final Touch: The third and final email introduces an incentive to entice the user to complete the purchase, such as a discount, free shipping, or a special offer, encouraging them to take action before the opportunity expires.
The combination of timely reminders and compelling offers straight into your shoppers inbox is proven to not only significantly enhance customer engagement but ultimately boost conversions, making it a highly effective strategy for tackling cart abandonment.
To capture wavering shoppers, targeted on-site conversion messages work wonders in reducing abandonment rates. These messages appear when it seems the shopper is ready to bounce from the page and show up as a pop up box in the middle of the screen.
These messages create a sense of urgency by highlighting the product’s popularity or emphasising the discounts awaiting them if they proceed with the purchase.
Here’s a list of conversion messaging you could try on your site:
“Hurry! Limited Stock Alert”
“Exclusive Offer Inside! Don’t Miss Out”
“Last Chance: Special Discount Awaits”
“Popular Pick: Grab It Before It’s Gone”
“Today Only: Extra Savings Await!”
“Act Now! Limited-Time Deal”
“Almost Gone! Secure Yours Now”
“Unlock VIP Discount! Limited Slots Available”
“Flash Sale Alert! Shop Now for Big Savings”
“Join the Club for Instant Discounts!”
These conversion messaging tactics hold significant power in converting window shoppers, making them a must-have tool in your marketing belt when combatting cart abandonment.
Implementing the above strategies not only ensures your business stays top of mind for any browsing shopper, but is a sure fire way to boost conversions and ensure you’re making the most of the holiday shopping influx to your site.