Over 300 billion dollars in e-commerce sales are lost annually due to visitors abandoning their shopping carts during the online purchasing process (Moz).
This means two thirds of the visitors to your ecommerce website who initiate an online transaction will not complete it. Now, with tools such as Email Remarketing, you have the ability to not only capitalise on these lost sales but develop lasting customer relationships and achieve repeat business time and time again.
Last week in our article
6 Ways To More eCommerce Sales, Right Now! we discussed shopping cart abandonment, and ways in which you could reduce abandonment rates by optimising your ecommerce checkout process.
As a quick refresher, shopping cart abandonment refers to when a potential customer has put an item in their shopping cart from your website, started the checkout process, and left before completing the transaction. Reducing cart abandonment before it happens by ensuring your checkout process is streamlined is only half of the answer, and today we are going to look at how Email Remarketing could help you recover some sales following cart abandonment.
The most valuable prospects to you are those who have come close to buying from you already, and Email Remarketing enables you to stay connected with these prospects.
On average there are 1.3 cart abandons for every sale on your website (Practical eCommerce). Normally we would look at such a statistic in a negative light, but cart abandonment is actually a normal part of the buying process. Visitors will often put items in their shopping cart for more than one reason other than buying, for example some use it as a wish list to accumulate their favourite products, or as a calculator to estimate what the total cost of their items might come to. Email Remarketing enables you to encourage these visitors through the buying process by sending an immediate email, as well as follow-up emails over various time intervals, after they’ve abandoned their shopping cart. It is a highly effective tactic for increasing conversion rates as they’ve already shown interest in your products, making it a lot easier than trying to entice a brand new customer.
Obviously remarketing to every visitor to your website would not be profitable, you wouldn’t bother sending emails to visitors who arrived on your homepage and left instantly as they were never really engaged to start with. The objective is to reconnect with those visitors who were fully engaged with your website and almost made a purchase, and for these qualified prospects Email Remarketing can help speed up a sale that may have gone to a competitor.
1. Capture visitors’ emails early ‐ This is the most important step or there will be no Email Remarketing Campaign! The best place to start is on your homepage, before the visitor initiates the order. You can ask for their email address via a pop-up window or even by asking them to create an account with you.
2. The first hour is the most important with shopping cart abandonment ‐ the sooner you send an email in response to abandonment the better. Remember, they nearly bought from you so sending the email within an hour of the abandonment is important to keep your brand front of mind.
3. Show the items they nearly purchased within the email ‐ Provide clear images of the items and if possible support it with customer reviews or even related items the recipient might also be interested in.
4. Make your call-to-action as obvious as possible ‐ it must stand out among everything else within the email and link directly to the abandoned cart.
5. Personalize your campaigns ‐ Address the emails to the recipient directly and offer further support in case it was a technical error that caused them to abandon the transaction.
Remarketing via email is among the best ways to recapture lost sales and improve your return on investment. With the average conversion rate for eCommerce websites sitting at 2-3%, there is huge room for improvement and Email Remarketing could be your key to achieving this. For more information on Email Remarketing, or other remarketing strategies, please don’t hesitate to contact one of our experts for a chat about how it could work for your business.
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