Are you spending huge amounts of money on driving more visitors to your site through Facebook ads or Google AdWords, yet you generate no revenue?
Sounds familiar? If so, it’s because you have a leaky bucket. And it doesn’t matter how much water you pour into the bucket, it’s not retaining enough water because it’s leaking somewhere.
One of the biggest leaks in online businesses is shoppers who add products to their carts but then abandon them at checkout. This is hard to accept because you’ve spent loads of money to gain their attention and these customers have shown strong purchasing intent.
However, it’s a common phenomenon because over 70% of shoppers abandon their carts at checkout and, unfortunately, this number has been increasing in recent years.
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Sending cart abandonment reminders can help you combat this phenomenon. This will help you recover lost revenue and ultimately convert more of those visitors you’re driving to your website.
It’s possible to recover abandoned carts affordably and effectively. 85.65% of cart abandonments occur on mobile devices, so creating a mobile-friendly site and testing is crucial for online store owners.
Abandoned Cart Reminders
Abandoned cart reminder is the backbone of online stores. It’s a follow-up you send to anyone who has added items on their cart and gone through a portion of the checkout process and then left the site without completing the purchase.
These remind customers of items they left in the cart — encouraging them to come back and complete their purchase.
Even if you just do the basics properly, you’ll start seeing your revenue and profitability improve and the ROI of your marketing budget will increase. And you can reinvest this extra money in other crucial parts of your business.
Having said that, the main challenge with abandoned cart reminders is that all online businesses are using the same tried-and-tested methods and best practices that they learned years ago. You’re probably using similar (if not the exact) tactics and tools as your competitors. This makes it difficult to stand out in your customers’ inbox.
Remember, gaining attention is crucial in getting your customers to take action and complete their purchase.
Why You Should Send Cart Abandonment Reminders
There are many benefits of recovering abandoned carts. First, it boosts sales. Recovering abandoned carts boosts your store’s revenue and profit by following up with customers and encouraging them to complete the purchase.
Driving customers back to your sales funnel is cheaper than trying to find new customers to market to. Also, retargeting ads are cheaper and cart abandonment emails are a cost-effective option to boost your sales.
Secondly, once you recover abandoned carts, it becomes easier to determine the cause of low sales. For instance, if by offering a product discount you’re able to recover abandoned carts, this means your product pricing might be too high for the average customer.
And if you notice that customers from the same country or region keep abandoning their carts, then your shipping costs might be too high. If that’s the case, you’ll need to offer a free shipping threshold to make your products more affordable to your international customers.
By sending cart abandonment reminders, you become a better business owner because you’ll recognize areas where you need to improve. Also, you’ll be able to optimize your store for conversions to boost sales.
Remember, even if a customer abandoned their cart, they were interested in your products. And customers who abandoned their carts but were planning to make a purchase will be happy to receive a reminder and they’ll happily complete their purchase.
Don’t assume the reason customers abandoned their cart is that they didn’t want to buy the product. Even offering a small discount can help you recover abandoned carts and this can be profitable for your business.
Abandoned cart reminders give your business a second chance to grow your customer base, boost sales, and sell your products. So, recovering cart abandonment can help you build a sustainable long-term business and gain new loyal customers.