What is your Cart Abandonment rate of your shopping cart?
I bet it’s a lot more than you think. The average rate is 69% based on 200 eCommerce sites. Some of you may see less. Some more. But it’s too much! Here are 3 actions steps to take to increase your profits and not bleed out lost sales.
1. Cart Abandonment Email.
The average conversion rate of sending an email to prospects who never completed an online transaction is 18%. But you can improve this average.
You should have an email going out within an hour of abandonment. You’ll increase your conversion rate to 20.3%. If you send it out in 48 hours, your conversion rate would drop to 12.2%.
Here is our recommendation:
- Send email #1 in 1-2 hours
- Send email #2 in 6-7 hours
- Send email #3 12 hours later
For some, a 4-12 part series can be justified by the results.
2. Cart Abandonment Retargeting.
Have specific retargeting ads specifically addressing the abandonment. Make a series of 4-7 messages.
How long does it take for a prospect to respond to your lead? To your direct marketing campaign? The average response time for a lead is 37 hours and 25 minutes! Long time, you say?
If you call within 5 minutes (instead of 30), you are 100 times—100!– more likely to contact the lead and 21 times more likely to lead that prospect into a buyer.
3. Credibility.
Increase your overall credibility to reduce shopping cart abandonment. Take a look at these statistics for credibility among female consumers:
- 86% of women consumers tap members of their social media network for their opinions, advice, and recommendations.
- 86% of women use social media … and websites … to access recommendations they use to make a purchase.
By using these 3 powerful strategies, you’ll dramatically decrease shopping cart abandonment…increasing your profits and overall sales.
To learn more, watch the video below (if video does not display, try hitting refresh).
If you would like to talk about online sales strategy, give me a call at (310) 212-5727 or email Caleb at [email protected].
