Did you know that for every 1% rise in abandoned carts, sales fall by 2%?
Marketers lose up to $4 trillion annually due to cart abandonment rates that range between 50% and 80%, and the problem is getting worse. However, a 10% decrease in cart abandonment would result in a 20% gain in sales.
Making sure you’re maximizing your reach over BFCM Marketing takes a lot of planning because it’s one of the busiest shopping weekends in the online calendar. However, you can’t deny that at these times, your abandoned cart ratio will increase significantly, and leaving that neglected will be your biggest mistake of the year.
The issue at hand is how to ensure that you’re keeping visitors and clients after the BFCM Week has concluded and those who abandoned the cart with things in it without making a purchase.
Why not try an omnichannel marketing approach to recover abandoned carts?
You’ll be more likely to buyers with it. Communication over different channels is a key component of omnichannel marketing automation because it increases the likelihood that your messages will be read and opened.
However, how to reduce the Abandoned Cart ratio, how does this omnichannel cart recovery strategy appear? How can you effectively reach cart abandoners through various marketing channels and persuade them to place another order?
In this post, we answer these queries and examine the omnichannel cart abandonment recovery strategies in greater detail.
How To Reduce the Abandoned Cart Ratio?
1. Be Honest about the Shipping Charges
Unexpected delivery charges are one of the main causes of shopping cart abandonment. Finding a wonderful deal on a product only to have the price double at the checkout due to a large delivery fee is the worst possible scenario.
Standardize your shipping options so that you can charge a flat rate for specific items to address this. To make sure that your shipping costs are prominently displayed, you could add additional information to your product pages.
2. Offer Free Shipping
Free delivery is a clever marketing strategy that can help you close the deal with clients who are already considering your goods. You might want to think about imposing a minimum purchase requirement or only providing free shipping on a limited number of items or during peak shopping seasons.
If free shipping is not an option for your e-commerce company, there are still other psychological strategies you can employ to increase sales.
3. Simplify the Check-Out Procedure
Demanding that customers register for an account prior to making a payment is another significant factor in abandoned carts. The sales are effectively hampered as a result. Potential customers might be in a rush or just want a simple checkout process.
Offering a guest account option, which collects the least amount of data, or inviting customers to register their complete information for a customer account after purchase would be preferable.
Abandoned Carts: A Golden Ticket to Increase Sales
Why not view abandoned shopping carts as an opportunity rather than a loss of sales? You can learn a lot about a person’s interests by looking at the items they leave in their cart when they abandon it without making a purchase.
With the help of omnichannel marketing, you can use that data to entice those potential customers back into your store with a sale or other incentives.
Engage Your Abandoned Cart with Omnichannel Marketing Automation
With a single-channel strategy, you would solely use that channel to reach out to your subscribers. You might choose to send your potential customers an email in the event of abandoned cart troubles to remind them to finish their purchase.
Emails are a terrific tool for communication, but they’re not always a successful marketing strategy on their own. Since only 20% of emails are really opened, 80% of them go unread. However, compared to standard email campaigns, abandoned cart emails perform better.
On the other hand, omnichannel marketing makes use of a variety of marketing channels, including email, SMS, web push alerts, Ringless Voicemail, Press-1 surveys, and many more, to help you build a seamless customer experience and reach your customers wherever they are.
Using an omnichannel approach, you may entice customers back to your store not just with an incentive delivered to their email inbox but also via SMS, voicemail, call, or push notification on their desktop computer browser, along with extra reminders.
How to Bring Back Abandoned Cart Customers with Omnichannel Follow-up Automation?
1. SMS Marketing
Text messages have a remarkable 98% open rate, making it one of the most effective marketing methods available right now. Because text messages are short, typically get noticed thanks to a “ping,” and are immediately accessible on the phone, many individuals are willing to connect with them. It comes naturally to click on a text and scan it.
Sending SMS reminders for abandoned carts has an average conversion rate of 0.87%, whereas typical SMS promotional efforts have a conversion rate of 0.27%.
2. Email Follow-ups
Nearly half of all emails sent in response to abandoned carts are opened. About 20% of these clients click to go back to their shopping basket, and 10% of them complete the transaction.
However, you don’t have to be content with a 10% reduction in abandoned carts. By including discounts in subsequent emails, you can further entice customers and raise conversion rates to 29%.
However, one drawback of email is that individuals receive a ton of it every day. They won’t likely go back to their cart if they get a follow-up email at a bad time. If they don’t return at that time after opening them, they might forget to do so later.
3. Ringless Voicemail Reminders
Many buyers are so busy that avoid marketing communications that come to their Inbox or Text messages. But they don’t avoid calls or voicemail messages. Leaving Ringless Voicemail stating your cart recovery incentive can push them to react to the Email or SMS you sent them with the direct links to click and finish the purchase with the incentive offered.
Ringless voicemails may or may not be helpful in getting results, but they can be the strongest driving factor to make your Email or SMS campaign successful.
4. Retargeting Facebook Ads
The custom audience function in Facebook advertisements is one useful feature that enables you to retarget website visitors. Retargeted advertising was discovered to be “twice as effective” as other strategies in a Comscore and ValueClick study.
By eliminating one of the main causes of abandoned carts, free delivery might make retargeting advertisements even more effective.
Retargeting ads have the drawback that some viewers might not even see them. They filter out these ads because their brains are already overloaded with information, losing out on conversion opportunities.
5. Push Notifications
With continually greater click-through rates, push notifications have shown to be even more effective than email or retargeting ads.
Push notifications have click-through rates for cart abandonment ads that are 37% greater than email. Push notifications reach and convert 500% more people than email as a result of an increase in both opens and CTR.
How to Use FlowUp for Abandoned Cart Follow-ups post-BFCM Sale?
Regardless of the channel you choose for retargeting your consumers, you should always include a link to their basket to make it simple for them to return with just one click.
But how frequently and when should you follow up?
The solution to this question has undergone extensive testing and revision. The practice of sending messages at predetermined intervals has proven successful for many businesses.
1st Follow-up:
Email: 1-2 hours after customers abandon their carts.
Delay: 24 hours
2nd Follow-up:
SMS with Cart Link: Sent 24 hours later, they abandoned the cart.
Delay: 24 hours
3rd Follow-up:
Ringless Voicemail Alert: With Incentivized Offer to Complete the Cart
Delay: 3 Days
4th Follow-up
Email with Cart Link: 2nd Follow-up Email with the Incentivized offer and Abandoned Cart Link
Delay: 5 Hours
5th Follow-up:
Reminder SMS with Cart Link:
Waiting beyond these windows increases the chance that users will entirely forget about you. FlowUp makes it easy to target customers who abandon carts and automate messages.
Wrapping it up:
The primary objective of the omnichannel abandoned cart recovery approach is to connect with customers via the channels they like. To increase engagement, choosing the channels that your customers prefer is crucial.
It’s crucial to pick an omnichannel marketing automation platform you can easily utilize to plan, carry out, and evaluate cart recovery campaigns. Making automated campaigns may seem difficult, especially to beginners, but the key is to leverage your marketing expertise to persuade customers to convert. Connect with our experts today at help@flowup.com or schedule an appointment now to get more insights.