by Aurangzeb Agha
You’ve just built that beautiful new e-commerce site with dazzling photos of all your products, descriptions that would make a poet weep, and a checkout process so seamless that Jeff Bezos is calling you for advice. But then you take a look at your analytics and notice that 78% of your shoppers have abandoned their carts, leaving your great products to languish in a dark, musty warehouse.
Not to be defeated so easily, you go in search of answers by asking the god of answers, Google, for cart abandonment solutions. Hopefully, that led you here. So let’s look at some methods for increasing your site’s conversion rate and some companies that offer solutions to the pervasive cart abandonment problem.
Cart Abandonment Emails
One of the cheapest and easiest ways to increase your conversion rate is by sending that fickle shopper a post-abandonment email to remind them why they want your amazing product. Perhaps with an enticing discount to boot. Companies like ReJoiner and CartStack offer software that “helps you deliver scheduled, multi-stage email sequences so you can follow up with cart abandoners.”
ReJoiner and similar products offer a slew of features that help make your follow up email campaigns more personalized and easily automated. Additionally, most of these products integrate with e-commerce platforms such as Magento, WooCommerce, and Shopify.
Cart Abandonment Retargeting Ads
If you’re not familiar with what retargeting ads are, just go look at some products online and then take notice of how ads for those products follow you around wherever you go on the internet. While this approach can give some people a case of Orwellian shivers, it can show results. Companies like ReTargeter provide solutions that “allow you to reach your audience – no matter where they are – with highly targeted, real time digital advertising.”
Cart Abandonment Exit Intent Solutions
Have you ever been on an e-commerce site and as you moved your mouse to leave a pop-up appeared with a discount code or email capture? That’s exit intent. It’s cheap, easy, and shows some results. However, it’s a shotgun approach to a specific problem and causes companies to give up a lot of margin. I won’t go into full detail here, but if you’d like a quick read about Exit Intent Solutions then check out this article.
Pre Cart Abandonment Solutions
This is the future of cart abandonment solutions. While cart abandonment emails and retargeting ads are effective and should continue to be a part of your arsenal, wouldn’t it be nice to just have the customer purchase while they are still on your site?
At Metrical, we provide an AI-based solution to retailers and brands that intelligently identifies and predicts shoppers behavior: We differentiate between who’s going to buy and who’s going leave your site before completing their purchase. Our solution then gives retailers the opportunity to engage shoppers with targeted offers that are the most likely to convert the shopper into a paying customer while maximizing retailers’ margin.
By identifying high-flight-risk customers before they leave and engaging them with targeted offers, retailers are able to convert prospects more intelligently and with lower impact to profit margins. What about those shoppers who still decide not to purchase your product? Well that’s when cart abandonment email solutions and retargeting ads can help bring customers back. With Metrical’s solution there is no need to “rip out and replace” what you already have running on your site. We run seamlessly alongside existing solutions thus rounding out your cart abandonment strategy with both pre-abandonment and post-abandonment solutions.