Abandoned Cart Recovery – A Short Guide
Winback Team on Sep 5, 2021 4:01:30 AM
A typical online shopping process includes browsing through the e-commerce store, adding products to the cart, and finally checking out to complete the purchase. Only if every customer would, indeed, go ahead and purchase every time they add products to their carts, we would have seen a true eCommerce utopia. But that is far from reality.
In fact, in several instances, buyers tend to leave the shopping portal without checking out. A study conducted by Baymard Institute has identified high additional costs like shipping and taxes (50%), creating an account as a prerequisite (28%), complicated checkout process (21%), hidden charges (18%), and slow delivery (18%) as the highest-rated reasons for shopping cart abandonment. An INC report makes a shocking claim that this year, shoppers will abandon $4 trillion worth of merchandise on online store carts. Just imagine!
If you are wondering about the average online shopping cart abandoned rates, let’s take a look at the Statista report that shines the light on this topic. A recent study conducted by Statista identified the online shopping cart abandonment rate to be 88.05 percent of online shopping carts, i.e., shoppers added the products to the cart but never completed the purchase.
The customers who have abandoned carts are your warmest leads. As e-commerce store owners, an effective cart recovery campaign can help you reduce abandonment rates by reminding customers that they still have items in their shopping cart. One of the many ways you can recover abandoned carts is by automating the abandoned cart recovery process, i.e., Abandoned cart auto-recovery.
What is Abandoned Cart Auto-Recovery?
Abandoned cart auto-recovery is nothing but automating the process of reaching out to shoppers who have abandoned their respective carts. You can reach out to shoppers who abandoned their carts via SMS or email.
An efficient and cost-effective strategy to recover lost sales by encouraging shoppers to complete the incomplete purchase is by reaching out to them via email. It is noteworthy that the average click-through rate for cart abandonment emails is more than 40 percent.
As an e-commerce store owner, you can integrate a plugin or an app with your website that automatically triggers when shoppers leave the shopping portal without checkout. All you need is a template email or series of emails that are automatically sent out to shoppers when the defined situation occurs, while you can focus on other affairs.
With a whopping 98 percent open rate, SMS is the most promising channel for reaching out to customers who have abandoned their carts. Set up an automated abandoned cart SMS campaign that reaches out to customers who abandoned their cart through SMS. Like an automated email strategy, you need to create a template message and decide when to send initial and follow-up text messages.
Abandoned Cart Auto-Recovery Best Practices
Although you are sending out a template, do not underestimate the efficacy of personalization. It has a positive impact on customer engagement and adds to the brand value. The template should include your customer’s name and the details of the product in the cart. Tailor the content to the customer’s browsing history, thereby showing them that you understand and value their needs and help you build a lasting relationship with your customers.
Perfectly time the automated reminders on different channels. It is noteworthy that you can get the highest conversion rates when you reach out 60 minutes after your customer’s last interaction. You can reconnect with them for the second time after 24 hours and the third time on the third day to maximize the click-through and recovery rates.
For emails and retargeted ads, use pictures or graphics to make your content more appealing. The visuals should encourage customers to revisit their cart and complete the purchase. For SMS messages, crisp and to-the-point content does the job.
Consider adding your brand’s URL to the message. It establishes authenticity and the recipients know that the automated reminder is not spam.
Make the process of revisiting the cart and completing the purchase easy for your shoppers. You can simplify the checkout process by adding a guest checkout feature or implementing a reply to buy, or simply including a hyperlink that redirects your customers to the checkout page.
Tag a coupon code, incentive, or promotional offer to entice customers to revisit and complete the checkout process.
Allow your customers to opt out of the automated abandoned cart reminders. The flexibility builds trust in your brand and improves brand loyalty.
The Best SMS Service Provider
Choosing the best SMS service provider is a crucial part of the successful execution of abandoned cart auto recovery. It can either make or break your abandoned cart auto-recovery campaigns. When it comes to recovering abandoned carts on your eCommerce store, you should always opt for the best SMS service provider in the industry.
Winback is the absolute best SMS marketing service provider. Offering up to 34% abandoned cart recovery, Winback is one of the top choices available to eCommerce business operators globally. If you are wondering about ROI, you will be delighted to know that you will earn up to 35X more on whatever you spend on Winback’s monthly plans. Winback offers four plans to choose from and these are Starter Tier, Ramp Tier, Growth Tier, and Executive Tier. You can select an appropriate plan depending upon the features and number of SMSes you need to send every month.
The lowest-priced plan is available at $59 per month and with this plan, you can send up to 3500 SMS in a month. If you signup for Winback’s executive plan, you can send up to 115,000 SMS per month. For the executive plan, you will have to pay $1499 per month. If you plan to send 250,000 or more SMSes per month, you will have to reach out to our team for a custom plan.
Go ahead and check out all the features available and choose a plan that meets all your needs. If you have any more questions about Winback’s plans, you can reach out to us through the live chat option on our website or drop us an email today. We hope this short guide on Abandoned cart auto-recovery proved useful to you. Visit our blog for more content.