We’ve written at length about shopping cart abandonment, and it’s no wonder, seeing as companies lose $18 billion in sales revenue each year due to this major eCommerce challenge.
Back in July 2015, we introduced the cart abandonment timeline, a framework for dealing with abandonment throughout the customer journey. We also wrote a useful guide about it, with actionable tips and strategies. Today, we’ve decided to create something more useful. Because just knowing the causes of cart abandonment isn’t enough — retailers need to learn and exercise tangible, effective personalization and optimization strategies they can use to win back customers, maximize conversions, and capture those potential lost sales.
Introducing the world’s first and only Shopping Cart Abandonment Use Case Tool, letting marketers experience the power of personalization for minimizing and recovering abandonments.
This tool uses iframes that allow you to fully preview use cases on your own website. You can also toggle between desktop and mobile to explore examples of personalization and messaging use cases that will help you minimize loss at every phase of the abandonment timeline.
Based on real data and success stories from our customers, this selection of 11 use cases are among the most powerful leveraged in eCommerce. These use cases are just the tip of the iceberg, and of course, there are many other successful use cases, such as optimizing of the checkout process, segmenting content based on past purchases, and more.
The use cases in this tool are categorized according to their potential impact on the three distinct phases representing cart abandonment: display of abandonment intent, recovery of abandoned users, and post abandonment.
Here’s a short explanation on each one of these phases.
Display of Abandonment Intent
In a reality where most websites offer an overwhelming amount of content, consumers may feel lost. Through serving personalized and highly engaging messages to visitors upon display of exit intent, marketers can deploy an overlay rendering recommended products or an inducement to sign up to a newsletter to keep visitors engaged prior to returning to their referral source.
To illustrate, let’s say your visitor was just hit with unexpected shipping costs and has now decided to leave your site rather than proceeding with checkout. Upon noticing your visitor’s exit intent (such as mouse cursor movement towards the webpage exit button at a high velocity), you can effectively re-engage by automatically triggering overlays and notifications with personalized offers and targeted promotions. These highly incentivizing messages could include free coupons, limited-time discounts, free shipping, free returns or money back guarantees.
Recovery of Abandonment Users
So you lost a user to cart abandonment — don’t worry, it’s natural occurrence and cannot be eliminated outright. As a result of unexpected shipping costs and surcharges, distractions while making purchases, and from customers simply adding items to their carts just to gauge a product’s overall cost, there are many reasons shoppers abandon their carts.
Thankfully though, it can be kept to a minimum. According to research on 500 leading global brands, by sending emails to re-engage shoppers who left items in their carts without completing checkout, 29.9% of abandoned cart emails led to a recovered sale.
With the right subject line, copy, email design, recommendation strategy, and incentive to offer, this has become an invaluable tactic for eCommerce marketers to overcome shopping cart abandonment.
Your lost shopper has returned — whether through an effective abandoned cart email or a personalized display ad leveraging a user’s browsing history to retarget them with highly relevant promotions for products they have already displayed an interest in.
Whatever the case, it’s time to encourage this shopper to complete their purchase. Many retailers are deploying “Welcome back,” popup reminders, signaling to visitors they still have items in their cart and offering exclusive discounts upon their arrival to really sweeten the deal.
The importance here is to immediately bring users back to context in order to drive them further down the funnel and towards conversion.
At the end of the day, being in constant conversation with your visitor will give you the best indication of how to optimize for the potential inconveniences they experience on-site.
Hopefully, our Shopping Cart Abandonment Use Case Tool will help you visualize all of the ways in which you can streamline future purchasing experiences. And don’t forget, Dynamic Yield’s arsenal of pre-defined templates makes it easy for you to trigger and test each of these powerful use cases.
Stop losing sales from abandoned shopping carts! Request a demo now to discover ways to combat cart abandonment and recover lost sales.