4 Mistakes That Make You Lose Money With Cart Abandonment
Cart abandonment costs online merchants trillions of dollars worldwide. There’s no such thing as a 0% shopping cart abandonment rate. But by applying the best practices in cart recovery, you can convert one out of four lost shoppers into sales. How? Learn from some of the most common mistakes online merchants make when trying to recover their lost shoppers.
4 Mistakes That Make You Lose Money From Abandoned Carts
Carts Guru is a native retargeting solution for cart abandonment for PrestaShop.
It’s a hard truth: Three out of four online shoppers abandon their shopping carts before completing their purchase. And yes, they’re abandoning your shopping carts. You dedicate your time and money to acquiring visitors, convincing them to shop in your store, and then poof! They leave your website.
Most of them never come back.
While there’s no such thing as a 0% shopping cart abandonment rate, it is possible to recover 20% or more of them. At Carts Guru, we’re experts in turning those “lost shoppers” into sales. That’s why PrestaShop has made Carts Guru a native retargeting solution for cart abandonment.
These are some of the most common mistakes eCommerce merchants make when dealing with abandoned shopping carts. Are you making any of them?
1.You’re only using email retargeting.
Email is one of the most important marketing channels available online. But while it’s important for you to include it in your cart recovery strategy, you shouldn’t stop there.
You’ll convert much more by deploying a multichannel retargeting approach when dealing with abandoned shopping carts.
With simple “If This, Then That” rules, Carts Guru goes beyond email remarketing.
With Carts Guru, you’ll find that a combination of email and other recovery channels will increase your ROI at a very low cost. SMS has an astonishing 97% open rate, for example. Facebook and Instagram retargeting puts your products right in front of your shoppers. And automatic calls allow you to assist customers with the shopping process and guarantee their checkout.
2.Your emails aren’t segmented or personalized. Be relevant.
Personalization and segmentation are two basic principles of online marketing:
- Personalization: Use all the information you have from your visitor in order to create an email that is closely related to their unique shopping experience.
- Segmentation: Classify your visitors by relevant attributes that will help you create the perfect message according to their context.
These are two concepts a solution like Carts Guru can’t be without. To correctly segment your campaigns, we offer default target categories such as language, cart value and differentiation between new and old visitors. You can also create custom attributes based on your own needs.
The best way to personalize a retargeting email is by making sure it reinforces your brand (so your visitors remember where they shopped) and includes the products your shopper added to their basket. Carts Guru’s retargeting email template allows you to add your logo, and includes the item your prospect didn’t finish purchasing at the end of the message.
3.You’re giving discounts too early.
Cart abandonment is a multifaceted issue. Shoppers can leave your online store for a number of reasons.
A considerable number of them just aren’t ready to finish their purchase yet. For that reason, giving them an early discount won’t really influence their final decision-making. You’ll just be losing money.
I usually recommend that online stores don’t retarget visitors prior to 30 minutes after they’ve opened a new shopping cart. The most effective way to start the campaign is usually a combination of an email and a SMS text message: a campaign rule that will almost surely guarantee that your user will receive the message.
Send discounts to the right people at the right moment. The higher the value of the cart, the longer you should wait to send a discount, especially if it’s a returning customer.
This guarantees that only the shoppers in need of an extra incentive to purchase will lower your profit margin.
4.Your customers are feeling fooled.
A good reputation is hard to build, and very easy to lose.
Your website should have every element that can convey safety to your store’s visitors. But what’s the use of including such features if shoppers end up feeling fooled by your business?
That might be the feeling they’re left with if you’re not clear enough about all the fees they’ll be charged, for example. Presenting them only at the final stage of the checkout process might be tempting, and might convince more people to reach the last step of the conversion funnel. But it will also increase the number of shoppers who will leave your online store right before clicking the “buy” button, with the added negative experience of feeling lied to.
Using clear language about what your online store actually offers is definitely the best long-term strategy if you want to reinforce your reputation and transform your customers into promoters of your brand.
Can I Help You Convert Your Abandoned Carts?
If you avoid these mistakes and proactively work on improving your online store’s user experience, nothing will stop you from significantly reducing your cart abandonment rate.
I’d love to learn about your case, and I’ll be happy to help you get started with some of the best practices in the sector! How can I help you improve your shoppers’ conversion rates? Leave a comment, email me, or chat with us at the Carts Guru website.
Conrado is the CMO at Carts Guru and an expert in growth, content and digital marketing.
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