Turn Abandoned Carts into New Opportunities
Let’s face it.
Cart abandonment is a fact of life for online retailers. We all know that people abandon carts for a variety of reasons, including:
• high shipping prices
• comparison shopping
• change of mind
• checkout issues
This is the problem you face. But it’s also the single largest opportunity you have to easily increase online sales.
Drive Sales
Shopping cart abandonment strategies represent the “low hanging fruit” for etailers. It’s a large source of immediately available revenue to online marketers. Forrester estimates that 88% of shoppers abandon and that at least $33 billion dollars is lost in abandoned shopping carts each year since 2005.
- Forrester Research, 2009
Research indicates that website abandoners represent buyers with a clear intent to purchase: in 2009, McAfee reported 65% of 163 million shoppers surveyed last year waited at least one day or more from their initial visit to purchase.
- McAfee, 2009
There has been an ongoing debate on the merit of abandoned cart recovery via email. While some will argue this practice seems intrusive and apt to irritate customers, it is hard to ignore the fact that online visitors with items in their shopping carts are the best qualified and most motivated prospects you’re likely to find! They’ve already shown enough interest to visit your site and browse around . . . now you need to convert that interest into a sale by using email to begin a one-to-one relationship.
GravityMarket’s Abandoned Cart Dynamic Email functionality allows you to recover lost transactions with an automated email. Now you can easily and cost-effectively follow-up with site visitors (both registered account holders and guest checkout users) who have left your site without purchase and with items in their cart.
In addition, our Acumium staff members are happy to consult with you on email best practices in order to maximize this new opportunity, including:
• Adding HTML header/footer to your dynamic emails to provide the right “branding” in your prospect’s inbox.
• Testing the right email content. Attractive, friendly and customer-service focused messages are best received.
• Consider an incentive. For example, studies show that using an incentive (lower price, free gift) is one of the simplest, most cost-effective email marketing techniques.
Acumium would love to work with you on a “before and after” case study. We are now planning for enhancements to the abandoned cart dynamic email - including a multi-message “series” of emails – if you don’t capture a sale with the first email, send a second or third one, tailoring each message. Research shows that providing an incentive too soon can “train” customers to abandon carts in order to receive a better price.
Contact Jody Hartwig if you’re interested in implementing this new GravityMarket feature.
Cart abandonment is a fact of life for online retailers. We all know that people abandon carts for a variety of reasons, including:
• high shipping prices
• comparison shopping
• change of mind
• checkout issues
This is the problem you face. But it’s also the single largest opportunity you have to easily increase online sales.
Drive Sales
Shopping cart abandonment strategies represent the “low hanging fruit” for etailers. It’s a large source of immediately available revenue to online marketers. Forrester estimates that 88% of shoppers abandon and that at least $33 billion dollars is lost in abandoned shopping carts each year since 2005.
- Forrester Research, 2009
Research indicates that website abandoners represent buyers with a clear intent to purchase: in 2009, McAfee reported 65% of 163 million shoppers surveyed last year waited at least one day or more from their initial visit to purchase.
- McAfee, 2009
There has been an ongoing debate on the merit of abandoned cart recovery via email. While some will argue this practice seems intrusive and apt to irritate customers, it is hard to ignore the fact that online visitors with items in their shopping carts are the best qualified and most motivated prospects you’re likely to find! They’ve already shown enough interest to visit your site and browse around . . . now you need to convert that interest into a sale by using email to begin a one-to-one relationship.
GravityMarket’s Abandoned Cart Dynamic Email functionality allows you to recover lost transactions with an automated email. Now you can easily and cost-effectively follow-up with site visitors (both registered account holders and guest checkout users) who have left your site without purchase and with items in their cart.
In addition, our Acumium staff members are happy to consult with you on email best practices in order to maximize this new opportunity, including:
• Adding HTML header/footer to your dynamic emails to provide the right “branding” in your prospect’s inbox.
• Testing the right email content. Attractive, friendly and customer-service focused messages are best received.
• Consider an incentive. For example, studies show that using an incentive (lower price, free gift) is one of the simplest, most cost-effective email marketing techniques.
Acumium would love to work with you on a “before and after” case study. We are now planning for enhancements to the abandoned cart dynamic email - including a multi-message “series” of emails – if you don’t capture a sale with the first email, send a second or third one, tailoring each message. Research shows that providing an incentive too soon can “train” customers to abandon carts in order to receive a better price.
Contact Jody Hartwig if you’re interested in implementing this new GravityMarket feature.
