**Today’s blog is a guest post from our partners over at Iterable, enjoy their tips and strategies for cart abandonment recovery!
Cart Abandonment Recovery Strategies
Shopping cart abandonment is the scourge of growth marketers everywhere. Even though marketers work tirelessly toward crafting the perfect acquisition funnel, consumers habitually walk away from their online shopping carts.
In fact, 75% of leading brands report suffering from shopping cart abandonment (SCA). As jarring as that figure is, it becomes even more shocking when quantified—BI Intelligence approximates that $4 trillion worth of merchandise is annually abandoned.
Looking to pinpoint root causes of these issues, consumers cite a variety of common triggers for this behavior.
It’s the marketer’s responsibility to use this information and recover that massive revenue potential! And it’s possible! The same BI Intelligence cited above report estimates that 63% of that abandoned $4 trillion is recoverable.
The good news is that marketers equipped with the right tools that are capable of doing so. There’s research that shows that kicking off an SCA campaign within 24 hours of abandonment can result in a purchase 60% of the time.
The Clock Starts Now
As soon as customer inactivity starts, you’re on the clock to help complete that near purchase. If you aren’t yet sending out SCA campaigns, it’s time to get started!
Whether you’re primed to send your first or looking for ways to fine-tune your current campaign, use these three tips to increase your cart recovery odds.
1. Personalize Every Message
Just like the chart above points out, consumers have unique reasons for abandonment. Generic, catch-all messaging might urge them to complete their purchase, but personalized messages will maximize your odds. Consumers have acquired the taste for personalized experiences and 77% of consumers report choosing, recommending, and paying more to brands that deliver them.
Use this insight to your advantage by incorporating the data you have at your disposal to bring forth highly personalized SCA messages. Consider not only the items in their carts, but the additional context of their browsing behaviors as well: looking at browsed categorical items or time spent browsing will help your gauge the serious shoppers from those who need a little more convincing. Personalize messaging to reflect their perceived interest levels by conveying urgency or building product affinity over time.
There is plenty of research and perspective about offering incentives or discounts to encourage transactions. This may or may not be the right choice for your business—thorough cost analysis will help you determine applicability. If you do go this route, how can you creatively personalize your offers to the needs of your customer segments?
Perhaps you extend certain offers to new customers, while returning customers receive a different offer; maybe you integrate cart cost thresholds and remind customers who are nearly there to add an item to receive their discount. Taking a personalized approach opens the door to a slew of creative options to re-engage your customers.
2. Integrate Omni-Channel Messaging
Today’s consumers are more connected than ever before and you cannot limit your customer communication to a sole channel if you want to influence their behaviors. Half of all consumers already commit to their favorite omni-channel brands by buying from them weekly—you can’t afford to miss out this new consumer standard.
SCA campaigns are a perfect vehicle for experimentation with omni-channel and can be a very effective conversion tactic. An omni-channel SCA campaign leverages the channels that your customers prefer most—email, in-app, push, text—to encourage interaction.
Push messages are useful for conveying urgency and you can use this psychological advantage to remind customers to finish their checkout. In-app messages can be triggered to customers for revisiting their cart the next time they log into your app. Through testing and analysis, you’ll be able to discover the right message-by-channel formulas for different customer segments.
Better yet, automate triggered SCA messaging to deploy as customers move between channels at their leisure. This requires full oversight of your 360˚ customer data profiles but the right omni-channel platform can do this for you. By unifying your messaging streams to stay lockstep with your customers’ unique journey, your SCA campaigns reach your customers when and where checkout conversion is most likely to take place.
3. Simplify the Path to Purchase
The goal of your SCA is simple and your emails should be, too. You can assume you’ve already warranted enough engagement to get your customers to start the transaction experience—you just need them to complete it.
When customers receive your message, they should be able to quickly recall their reasoning behind previously abandoning their purchase so don’t bombard them with unnecessary content. Focusing on the specific cart item(s), simple CTAs and copy leave no doubt for the customer about what is being asked of them.
Streamline the path to purchase for your customers as well. Keep the journey seamless by verifying target URLs to the cart are natively deep-linked to match your customer’s experience. This means that if they open the email from their mobile device, their click will take them into the appropriate app destination. The easier they can journey toward purchase, the better—remember, a broken SCA experience reflects “bad site navigation,” a contributor to initial abandonment.
Decreasing Cart Abandonment at Scale
Use these proven principles to start building your own omni-channel SCA campaign that suits your business needs. With the right strategies at the helm, you’ll find it becomes easier to manage highly personalized SCA campaigns at a scale previously unattainable.
Marketers are continuing to create new ways to power the customer experiences which build brand affinity. Insights learned from your SCA campaign engagement data can be incorporated into promotional and retention strategies to ensure customer journey fluidity.
Understanding outreach caveats like messaging cadence, channel preferences, timing, conversion tactics, and more will empower you to engage your customers in powerful new ways. Before you know it, you’ll start to see your slice of that $4 trillion pie.
If you’d like to learn more about the benefits of using a truly omni-channel marketing platform to orchestrate your cart abandonment campaigns, download the Iterable Shopping Cart Abandonment Checklist today.
Content Marketing @ Iterable
Special thanks to our Guest Author Ryan Brelie.
Ryan Brelje is a Content Marketing Manager at Iterable and creates content which fuels the company’s omni-channel experiences across all marketing channels. Feel free to connect with him on LinkedIn.