How to drive revenue from abandoned carts
Reasons to abandon are almost as unique as your customers. Maybe it wasn’t exactly what they were looking for. Perhaps it was more expensive than they were expecting. Or they hadn’t seen how much shipping would cost. They may have added items to their cart with no intention to buy or accidentally closed the tab.
Whatever the reason, every single one of these customers is
still an opportunity.
The average rate of cart abandonment is around 76%. This means, for every 100 customers walking through your virtual door, 76 are leaving without making a purchase. You wouldn’t accept this in a brick-and-mortar store, so why put up with it online?
Not just for ecommerce
It’s important not to think of abandoned cart programs as
only applicable to B2C or ecommerce brands.
Abandoned browse emails can be used in a very similar way. For a B2B brand or service consider what your high intent actions are. Whether it’s filling in a form or viewing a pricing page, you can create abandoned browse emails to capture any of those who drop off without completing an action.
Program your abandoned carts
Abandoned carts or browse emails should be the backbone of your marketing strategy. Ultimately, it’ll help you recover more lost revenue and convert more visitors.
While the sound of a ‘program’ may feel complicated, the abandoned cart is a simple follow-up email. Browsers are reminded after exiting the window where they added items to their shopping carts.
But, to set this up, a couple of technical steps are necessary.
Integrating your ecommerce store or CRM with Engagement Cloud is essential. Through this, Engagement Cloud will know when a shopper abandons your site. This action will trigger your abandoned cart or abandoned browse program. The program, built in Engagement Cloud, will send these emails to your contacts every time they fail to complete your desired action.
Building your program is quick and painless, thanks to the product development team at dotdigital. Engagement Cloud comes fully equipped with over 30 pre-built programs, ready and waiting for you to switch on. Among these, you’ll find the abandoned cart and abandoned browse.
You can create more complex or specific abandonment programs in Engagement Cloud’s easy-to-use program builder. And, with our connectors like Magento and Shopify, you don’t even need to build a program. It’s ready and waiting for you to switch on in your account.
Once your program is in place, you need to create the email you want to be sent to your contacts. Depending on the program, it may be one email, or it could be three. But your design will also be dictated, in part, by the strategy you adopt.
All the best, most successful abandonment emails are using one or more of these tactics to achieve its goals.
Don’t fire out discounts every time
We know it can be tempting to include discount codes, but
don’t send them out every time someone abandons an action on your site.
Shoppers are savvy and they’re clocking onto this tactic.
Instead, consider factoring in some stipulations:
- Where does the shopper fit into your RFM personas? Are they Champions, Loyal or Need nurturing? These are the perfect targets to offer discounts. For your Champions and Loyal segments, you’re rewarding loyalty. Need nurturing customers will receive the incentive they need to tip into your Recent category.
- How much are they spending? What’s the complete value of the cart they’ve abandoned? Consider offering discounts for carts worth over $100. Or make the code conditional on spending over $50.
- Optimize the potential spending power of your new subscribers or members by offering them a discount on their first purchase. By stating it’s on their first purchase, you’re also setting expectations, so they know not to expect repeat discounts, every time they abandon a cart.
US wine subscription company, Winc, offer money off first orders, but only for first-time buyers. With a clear understanding of the value of its proposition and knowledge that shoppers tend to buy more than one bottle in an order, this email prompts new shoppers to take the first step on their journey with Winc.
Keep it super simple
The best thing about abandoned browse emails and abandoned carts is that they don’t have to be complicated.
Actually, the simpler they are the better the impact they have. Why over-complicate the message? All you’re trying to do is push them to complete their purchase, so packing the email full of additional items or CTAs reduces its impact.
Beardbrand makes its CTA big, and bold, and impossible to miss. The brand also adds a sense of urgency with its phrasing ‘reclaim your cart!’. The body copy of the email emphasizes this further, explaining the cart is about to expire. With a clear time pressure and a clear spotlight being shone on a single product, the reader feels compelled to complete the action.
Use social proof to tip them over
Social proof is one of the most powerful tools in your arsenal. According to reviews platform, Feefo, 95% of people are influenced by reading reviews.
Adding social proof elements to programs like abandoned carts or browse can help you convert first-time visitors or uncertain buyers.
Adidas tap into its audiences’ fear of missing out, and desire for anything unique and personalized with this abandoned browse campaign. By adding a CTA to customize they’re giving shoppers even more incentive to resume their browse. Combined with its incorporated reviews, the reader is really inspired to return to the site.
Give them a reason to choose you
80% of consumers are willing to pay more or try a new brand if they offer a better customer experience.
You’ve already captured the shopper’s attention. They’ve been on your site, signed up for an account or subscribed to your newsletter. They’ve even gone as far as to look at a specific page or add items to their cart. But now, you need to show them why they should choose you, over your competitors.
While you may not think these programs are the place for this, Whisky Loot, a whiskey-themed subscription box, did just that. Using an abandoned browse email, it perfectly demonstrated the brands fun and quirky personality. It even addresses key issues that may have stopped the customer from completing their purchase. Overall, the email leaves readers smiling and thinking, ‘yeah, I will treat myself’.
Keep the revenue rolling by reviewing your abandoned carts
The strategy behind your abandoned carts or browse emails is essential.
To keep this program driving revenue, it’s important you
keep a close eye on it. If you see your ROI stagnating, it’s time to change it
Never be afraid to be different and try something new. How
else are you going to stand out from your competition? Make every experience as
unique as your customers.
In the immortal words of T.S. Eliot: “Only those who will risk going too far can possibly find out how far one can go.”