Perhaps, one of the biggest challenges the e-commerce business faces today is when customers or shoppers add any particular product to their cart and abandon it at checkout.
Studies indicate that as much as 70% of shoppers tend to abandon their carts during checkout. The worst part? This number has been consistently increasing in recent years.
Now, there can be multiple reasons behind doing so. For example, some might feel that the shipping costs of the product are too high, or they might want to consider comparing the product prices with other online sites. Nonetheless, marketers are always trying to encourage these said shoppers to complete their transactions, even after leaving the site.
So, what is the solution to this problem?
Let’s explore abandoned cart emails, their various types and also a few successful abandoned cart recovery strategies to make well-informed decisions and tackle similar situations.
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Understanding Abandoned Cart Emails
Before we delve deeper into the various abandoned cart recovery strategies, let’s start with the basics. What exactly do we mean by abandoned cart emails?
To put it simply, abandoned cart emails, also referred to as remarketing emails, are follow-up emails sent by online retailers to those customers who have added a particular item to their cart but did not purchase it during the checkout process and simply abandoned it.
The main purpose of sending these follow-up emails is to remind the consumers of the items left in the cart and urge them to purchase. Various studies have been conducted on this problem, and it has been found that most online retailers have an abandoned cart rate of as much as 15%.
However, simply sending a follow-up mail does not guarantee that the consumer will make the purchase after all. You have to curate the mail in a specified manner and send it at the right time if you wish to get any results. Therefore, it is always advised to send your first remarketing email within 60 minutes of the customers leaving your site, abandoning the product in their cart.
Remarketing Emails: Making the Most of It
There are three ways to make the most out of your remarketing emails.
Immediate Follow-Up
This refers to the email you will send to your customer within the first 60 minutes of them leaving your site. You can personalise the mail by adding images of the product they have left behind, or you can simply use personalised text.
Second Follow-Up
A second follow-up mail refers to the email sent to the consumers within 24 hours of leaving the site. Much like the previous one, you should personalise the email in an interesting manner, or you can also add reviews or testimonials of other consumers who have purchased the same product. The idea is to present yourself as the best brand in front of your audience.
Final Follow-Up
Last but certainly not least, if none of the above has worked, you can try out a final follow-up email containing exciting offers such as free shipping, additional discount, or a free gift.
Why Are They Important?
Abandoned cart emails are important for a plethora of reasons. The following list highlights some of the most crucial ones.
Improves Customer Experience
The first and foremost reason abandoned cart emails are so important is that it helps you as a retailer improve the shopping experience for your customers. Wondering how so? Even after sending a remarketing email, if the customer does not respond or make the purchase, you can still collect vital information, such as why that particular product was abandoned in the first place and similar things. This, in turn, helps you make a well-informed decision to satisfy your customer’s needs and demands in the future.
Saves Resources
Time and money are the two most important resources for any business. Therefore, if you wish to save up on these resources, then setting up remarketing emails is the best way to do so.
Improves Customer Relationships
The first and foremost reason abandoned cart emails are so important is that it helps you as a retailer improve the shopping experience for your customers. Once a customer feels that a company values them, they are automatically drawn to that particular brand, which ultimately leads to a long-lasting relationship.
A Few Successful Abandoned Cart Recovery Strategies
Here are some crucial abandoned cart recovery strategies that every business owner should keep in mind if they wish to improve their recovery rate.
Ratings and Reviews
Trust and loyalty are the two main pillars on which the business world thrives. Therefore, if you want your customers to make a purchase from your brand or site, it is very important to gain their trust. One way to do this is by including reviews and ratings of your products in the emails. In fact, a recent study has concluded that ratings and testimonials of previous customers influence as much as 88% of consumers. So why not use this opportunity to expand your business?
Focus on a single product
Generally, customers tend to add multiple types of the same product to their cart. It can be safe to assume that, in these situations, the shopper might not have the same buying intention for all these products. Therefore, you can select the best-selling product in the cart as a retailer instead of focusing on the ten different types. Once you have selected that product, you can market it in various manners to the customer, such as highlighting its top features or communicating the USPs of that particular product.
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Discount Coupons
One of the most common strategies used by retailers is giving discount coupons to lure in more customers. However, most do not realise that this can bear the loss for your brand if you are not doing it tactfully.
The ideal way is to provide discount coupons to new customers instead of your loyal consumers since they have already indicated a willingness to purchase from your brand. To retain their loyalty, you can develop various reward and loyalty programs so that they continue to feel valued and important by the brand.
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Utilise different tools and platforms
Another effective abandoned cart recovery strategy is exploring various fun tools and platforms instead of just focusing on one tactic. For example, you can try out tools such as Shoelace that lets you create automated retargeted ads or harness the power of push notifications or texts.
Implementing these additional tactics in your marketing plan surely improves your chances of increasing your recovery rate. However, while doing so, ensure that the message you are distributing through these different channels is consistent and does not contradict each other.
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Conclusion
Customer retention is one of the most prominent means of business growth, and remarketing emails work as a powerful tool to fuel the same. Remember that, in any industry, be it the fashion industry or financial sector, customer retention is very important. The best way to do so is by securely establishing a long-term connection with them. If you face challenges in turning your potential customers into buyers, you should follow the strategies compiled in our blog to avoid abandoned carts and improve sales.
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