According to the Baymard Institute, the average cart abandonment rate in 2014 was somewhere north of 68%. This means that nearly 7 out of 10 shoppers who come to your site, browse, and even select an item or two, won’t actually complete their purchase. To put a number to it, the total uncaptured revenue from abandoned cart items exceeded $3 trillion dollars last year. This year, the global estimate is set to peak at $4 trillion dollars.
Studies show that the number of carts being abandoned are on the incline. However, this isn’t exactly a bad thing. Rather, increased abandoned carts should be viewed as a sign that buyer behavior is changing. As a seller, it’s your job to adapt. If you can master the ‘art of the cart’ and close these hot leads, you’ll not only sell more, but have a much better understanding of the contemporary consumer.
Recognizing the importance of abandoned cart recovery, we’re releasing our very own Abandoned Cart Recovery tool, optimized for pre-orders and carefully designed to intercept shoppers at this key point in their purchasing cycle.
Read on as we detail how to overcome your cart abandonment issues and walk you through our shiny new tool.
4 Ways to Turn Cart Abandoners into Customers
Although the majority of customers who make it to the cart-filling stage will abandon, 3 out of 4 these same customers will come back for more. Upon returning, these visitors will either complete the purchase or drop off for good. It’s up to you to adopt processes to retrieve as many returning shoppers as possible.
Here’s how to do it.
1. Perfect Your Remarketing Email
According to SeeWhy, email remarketing is proven to recover on average between 20–25% of abandoned shopping carts. This means that if you can become a master at second chances and convert otherwise “lost” buyers, you can dramatically increase sales. In order to do this, your subject line and email copy has to be just right.
Here’s what your remarketing email should be doing:
1. Create a direct link back to the shopping cart— This should be the only call-to-action button in your email.
2. Generate a sense of urgency— Nothing is worse than the fear of missing out (FOMO). Sprinkle this into your email copy.
3. Make an offer (or highlight on-going promo)— Do you offer free shipping when customers spend ‘x’ amount? Can you give a 10% discount? This is a good time to lay down your best and final offer.
4. A Catchy Subject Line— Your email is only effective if people are reading it. Luckily for you, abandoned cart emails have very high click rates. But, there’s always room for improvement, so test subject lines and uncover highest performing words.
2. Remarket in Real-Time.
Sending an email to your abandoner while you’re still front of mind is pivotal. In an A/B test performed by SeeWhy, two groups of cart abandoners were sent identical remarketing emails. The difference: one group was sent the email immediately, the other group, 24 hours later.
Which email do you think turned more abandoners into buyers?
According to the study, 30% more shopping carts were recovered by the real-time email. Even crazier, the email sent in real-time had a 66% higher average order value that the cart total of the delayed email. Although studies show that real-time remarketing is most impactful, we encourage you to test send times and see what works for your pre-order buyers.
3. Remove ‘Shipping’ as an Obstacle
Free (or simplified) shipping is a recommendation that we dissect in our Tips and Tricks to Ship Better and Sell More post. With “high shipping and handling costs” cited as the number one reason 3,000 online shoppers said they abandon cart, complicating shipping is a death sentence for your conversions.
To avoid killing your game with shipping fees, we recommend (with descending impact):
- Don’t Ask for Shipping Information Right Away: When it comes to a high-converting checkout, less is more. With our new One-Page Checkout, cutting back any number of fields on the form can make the act of buying even easier. Leaving out the “shipping fields”, and collecting addresses closer to your ship date will remove a major roadblock for buyers and cut down on abandoners.
- Free Shipping: If you want to charge upfront, and hate the idea of circling back to gather shipping info, flat rate shipping is the next best thing. Come up with an inclusive number that will round out your total product price. This way, you can offer buyers the appearance of “free” shipping without cutting into your bottom line.
Or if you can’t afford to be a risk-taker, offer:
- Flat Rate Shipping: If you’re unable to properly estimate your product shipping costs in advance, please, we beg of you, offer flat rate shipping. Don’t charge Alaskans a different rate than New Yorkers, Rhode Islanders one price and Californians another, and so forth--just don’t do it. Have one, nicely packaged, flat rate and end the madness.
4. Retarget While You’re At It.
In conjunction with email remarketing, retargeting acts as another means to stay front of mind with potential customers who failed to complete the purchase. By setting up a retargeting campaign through websites like Adroll, you can run targeted advertisements that will “gently” follow your abandoners around the web. The click-through rates for retargeted ads are 10x higher than traditional display ads, bringing shoppers back to your site to finish what they’ve started
Within your retargeting campaign, you can automate customer segmenting and even use a more sophisticated multi-stage campaign to cater promotions to abandoners in different stages of their buying cycles. To illustrate, a retargeting ad made to appear right after your shopper abandoned cart should look different than an ad that would appear a week later. Experimentation is key, but retargeted ads shouldn’t be overlooked when carving out your abandoned cart strategy.
Why Celery’s NEW ‘Abandoned Cart Recovery’ Tool is Awesome.
- Buyer email addresses (to use for remarketing) are auto-saved when typed into our new One-Page Checkout.
- You can customize your remarketing email delay time. Test different delay times by manually adjusting delay times in the Celery dashboard.
- The email copy and subject line comes pre-optimized.
- Through the clear email CTA, abandoners are redirected to their cart items and a pre-filled checkout form.
- The email is branded, pulling in your company logo.
- The ability to customize copy and even include coupons and special promotions.
- Metrics to track and analyze every step of the recovery process.
Shopping cart abandonment is the new norm. While some of these cart abandoners will never complete their purchase, these visitors are the most qualified leads you'll ever get your hands on. Mastering the ‘art of the cart’ and giving extra attention to these shoppers is one of the highest returning things you can do to drive sales today.
Celery’s new Abandoned Cart Recovery Tool is currently available to customers interested in early access. Interested in having getting a sneak peek at this powerful, new tool? Sign-up for Celery today. If you’re an existing customer, email firstname.lastname@example.org.