If you are running a successful store and you’ve figured out inventory. You have good amount of traffic and your customers buying your products too. Have you covered all your bases? Not yet!
You could still be experiencing a huge number of lost sales because of shopping cart abandonment.
Today we want to zoom in one of the most effective ways to get customers after they abandon their carts: That’s called Email Recovery Campaign.
What is abandoned cart recovery and how can it help you build your e-commerce business? In this article, we're going to be diving right into what abandoned cart recovery is? And how it works with different strategies. We might even be providing you a couple of screenshots of real-life examples that we've used for our clients. We're going to talk about all those things in this article.
So, let’s start with abandoned cart recovery and how does it work. In an online store, there is a checkout cart where people add products. Example: In Amazon, you check out hundreds of books and you add five of them into your cart. Suddenly, you need to do something else. And you close the app without buying them. So, what abandoned cart recovery does, it will send you an email that you have a couple of books in your cart, if you want to buy these, you can click from there. It will complete the checkout process. So, on the e-commerce website, there are some software’s which works for abandoned cart recovery.
If you're a bookseller, you will know that customer has five books in abandoned cart recovery. So, it sends an email to the customer within 24 hours, if they haven't purchased the books. Example: Hey, John! we noticed that you forgot to check out these five books (and you can actually provide pictures) they're sitting in your cart right now, click here!". The customer doesn't have to do any more browsing. They have to click add to cart. With this, John will have you know way more chance of actually purchasing those books. Because he's being reminded. He's given a link to actually make it happen fast. And you might even have the best-abandoned cart recovery systems. It will actually do multiple hits. So, in 24 hours after they haven't checked out yet, you’ll send a reminder. But John still hasn't purchased those books, in the email, you can say, " John we noticed that you read our email yesterday. but we noticed that you have five books in the check-out cart. Here is a 10% coupon to incentivize you to actually finish your purchase. So, they'll go to the link and buy the ten books or the five books.
If you have fifty percent margin on your book, Example: you sell a twenty or ten-dollar book and you give 10% off. So it's two bucks that mean you still have eight dollars’ profit per book. And eight dollars’ profit per book is better than zero sales. So, that's a great way to build sales and conversion rates.
Always check out your click rate and it's a great way to keep customers. Because then it will take away the opportunity to form your customers to kind of browse and search your competitors. Sometimes books come with a hardcover in your competition store but if you hit them in 24 hours saying and say, " Hey! your softcover book is in checkout". Then they're more likely to execute instead of going to your competitor. So, that is abandoned cart recovery. And that's how you can integrate with your checkout process and email marketing. You have any questions like that we actually did a video about this topic. We'll put a link in the description below. If you're watching this on YouTube of how your email marketing works and we did another video on how you can build your email list. But this video is strictly about what abandoned cart recovery is and how it can help you build your business.
Thank you for reading and I will see you in the next article.
- Dick Polipnick & Joyeta Banerjee
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21 Year Old Entrepreneur