Ask the Experts: 4 Ways to Recapture Abandoned Carts
Abandoned carts account for up to 88% of missed sales according to data published this year by Statista. What does this mean? While your customers were clearly enticed enough to add to their basket, something stopped them in their tracks -- either a second guess, a distraction, or an issue with the user experience during checkout. While the bad news is they didn’t complete the purchase, the good news is they show high intent to purchase, and there are many different ways you can recoup the missed sale!
Here are 4 strategies and tips used by expert e-commerce marketers to recapture abandoned carts:
- Meet your customers where they are -- with a targeted social media ad. Joshua Bretag, CEO/Founder of Cubatica advises, “One of our favorite strategies is to remarket ads to customers who have abandoned carts, enticing them to complete their purchase. One popular version involves an ad that contains a dynamic picture of one or more of the items sitting in the cart. We've had some highly successful campaigns that added millions in additional revenue by implementing that strategy alone.” Michael Mellon, CEO of SmartSites adds: "Unlike most other methods, retargeting ads allows us to communicate with visitors who are not yet customers and thus you don’t have contact details on. Dynamic retargeting ads is becoming an essential tool in optimizing visitor value."
- Never underestimate the power of an email. For Samuel Sevigny, Head of Partnerships at J7, “ Email marketing is undeniably our most powerful asset to recapture abandoned carts. Creating an email flow with a clear message and a little incentive usually goes a long way.”
- But, it helps to be strategic about your email marketing! According to Anastasia Shiverskikh, Marketing Director at Flowium, “One of the best ways to nudge people into buying is to give them incentives, e.g. a discount. But! a) Don't send the discount in the first emails, leave it for the 3rd/4th email of your abandoned cart series. b) Put a time limit to whatever incentive you're giving (e.g. use this coupon within 48 hours).“ Source: Abandoned Cart Email Strategy And Optimization.
- Get to know your customers better with Gatsby! Gatsby’s CEO/Founder Brett Bernstein says, “With Gatsby installed, we’ve found that even when your customer abandons their cart, you’ve learned more about that customer’s social presence to personalize the follow-up and increase your conversion rate. And for your qualified micro-influencers who left their cart hanging, try prompting them with an influencer deal. ie: ‘if you complete the purchase and love our products, you’re pre-qualified to work with our marketing team on a collaboration.’ The best part? Our newest update, Gatsby Next Gen includes a proprietary scoring system so you can quickly identify your most qualified micro-influencers and streamline the entire influencer management process. Check it out here!”