You’ve built an amazing brand, your website traffic is strong but your sales are below expectations. As you are analyzing the data you find the dreaded reason — CART ABANDONMENT. You are not alone. The average ecommerce cart abandonment rate is a whopping 75%!! Shoppers are browsing through your strong assortment, agreeable to the price but then DO NOT CONVERT. So how do you solve your Cart Abandonment problem?
Software as a solution
Luckily, where there are e-commerce problems there are also software solutions. But which one to choose? Many choose CartStack as a partner. CartStack automates the process so you do not need to worry about losing track of a customer’s purchasing journey. They tout a 15% recovery of otherwise lost purchases. This is an impactful statistic when it is essentially recapturing lost revenue. Their main service is an email campaign that reminds your customers about their carts and pushes purchase. Before signing up, be sure to analyze their fee structure versus your intended recovery rate making sure the ROI works for your business model.
Re-Marketing as a solution
Re-marketing is any sales and advertising strategy that maintains contact with potential customers after they visit a business. For e-commerce brands, digital ads are run to re-engage with buyers. Because shoppers have already interacted with your product they are more likely to convert than other customers in the marketplace. Customers generally have to see a product or be reminded several times before making a purchase. Re-marketing is also a strong tool because it won’t only solve cart abandonment issues but also target customers who were just browsing to purchase.
Free Shipping as a solution
23% of shoppers abandon their cart based on shipping charges. Many brands offer free shipping as an added incentive. This popular choice is designed to keep the customer engaged and also feel they are also getting a great deal on your product. If done incorrectly, direct-to-customer shipping can be costly for a business. The solution is to outsource your logistics to a trusted third party who can not only save you money but also deliver an on time experience to your customer.
Lessgistics is that trusted partner where you can outsource and scale your logistics operations. Because of their central location they can save you money pretty quickly on the outbound shipping side. And because of their e-commerce fulfillment expertise they can also help you to procure less expensive shipping products (corrugate, polybags, etc) which can quickly eat into profits.
Cart abandonment is something that every e-commerce business needs to address as you grow and scale your business. There is not a one size fits all approach and all of the above tactics are most likely needed to achieve maximum success. Exploring a software solution, a re-marketing campaign and free shipping are the highest rate of return in the current marketplace. If you are interested in learning more about a partnership with a trust 3PL solution, please reach out to Lessgistics or firstname.lastname@example.org.