Consider The Following Things About Shopping Cart Abandonment
A customer visits a company's e-commerce website for the first time to check out its products and after a while he checks out from the site without buying anything. In marketing terms this is known as shopping cart abandonment. Most companies see this incident as a loss of potential customers. However, if anyone looks at the incident carefully, it is not always the case. With a little effort, a large section of the prospects who abandoned the site can be won back.
Studies show that first-time visitor to an e-commerce website almost never buy from the website during their first visit. However, most of them intend to go back and make the purchase. On the other hand, people who have already been to the website, often abandon the site in order to do some research on the product.
In other words, they probably want to make sure that they are investing their money on the right products. Therefore, it will be safe to say that all those who abandon a company's shopping cart are not completely lost. With a little persuasion, the company can recover most of these abandoned leads.
So, before a company loses all hope of salvaging those abandoned leads, they need to take a few things into consideration.
1. Shopping Cart Abandonment is Increasing
It
is better to begin by accepting the fact - shopping cart abandonment is
increasing every year and it will continue to do so. As more consumers
will shift to online and mobile shopping, the number of shopping cart
abandonment will increase at a rapid pace. It will continue to do so as
more consumers shift to online and mobile shopping.2. Abandonment is Part of the Shopping Process:
Generally speaking, a company should see an abandoned shopping cart as part of the buying process. It is probably just a stepping stone in the ever complex series of actions a consumer has to take before finally making a purchase. It can also be seen as a strong indicator of consumer interest in a product or a brand. The technology that allows retailers collect and leverage online shopping cart data is going to be a worthwhile investment.
3. Abandoners are Still Great Sales Leads:
According to data from SeeWhy, three-fourths of shoppers who have abandoned shopping carts say that they plan to return to the retailer's website to make a purchase. Online-only retailers often face the disadvantage as they do not have multiple channels to recover the lost sales.
4. Re-targeting is Effective:
If they want, retailers can reduce the rate of shopping cart abandonment and increase conversions. They need to streamline the checkout process and re target shoppers with emails and calls after they've left the website. According to List track initial emails, sent three hours after a consumer abandons a cart, average a 40% open rate and a 20% click-through rate.
In order to re-target those customers, a company can also opt for third-party help. Third party call center agents can correspond with those potential buyers via email or over the phone and try to know the reason behind their shopping cart abandonment.
In some cases, consumers will tell that they are no longer interested in purchasing products from this site, while many others will actually visit the site and buy the products they were eyeing.
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