Post on 23-Aug-2014
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Do you know that RIGHT NOW
YOU ARE
LOSING SALES?
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Abandoned carts
Completed purchases
Every day about 60-70% of
online shoppers
abandon their carts
without completing
checkout.
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For lots of online shops it results in
a staggering amount of
LOST REVENUE!
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4
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1. Pricing unexpected and
unclear costs,
hidden charges,
overestimated prices
can be the reason
why shoppers leave
your online store.
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2. Payment issues
concerns about
payment security,
limited or complicated
payment options,
declined payments,
etc.
can result in a big
amount of lost sales.
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3.Website performance
unclear navigation,
slow load time,
frequent crashes
and a bunch of other
site performance
issues can
put shoppers away.
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4.No buying intention
shoppers can either be
in the process of
making a purchasing
decision
(they may be comparing
product options, choosing
the best pricing offer, etc.),
or they may be
just browsing with
no intention to buy.
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More reasons for online cart abandonment
are described
in this blog post.
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While the reasons for cart
abandonment are endless, failure to capitalize on these
lost sales opportunities can
cost your online
business too much!
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First you need to
implement
technical
improvements
to your online
store
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That is:
• enhancing website speed,
• moving to a better hosting,
• improving store navigation,
• minimizing checkout,
• and the like.
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Second, reconsider your
pricing policy.
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You need to:
• be more up-front with pricing
and fees,
• offer more pricing flexibility,
• extend the list of available
payment options.
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However,
making a convenient and
shopper-friendly E-store
doesn’t guarantee
that people won’t leave their
carts in the middle of the
checkout process!
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If shoppers keep
leaving your store,
you can resort to…
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First you need to
collect your
customer’s
email addresses.
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That can be done either via
introducing sign up forms
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Or via the process of
signing-in/registration.
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The pros and cons
of each method are described
HERE.
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When emails are collected,
you may proceed to the next
stage…
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The first email
for
sending
the 1st follow-up is
20 minutes.
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Your first recovery email should not be selling.
It is a polite reminder of
what has been forgotten
and a suggestion to help.
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This is an example:
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The second email,
should be sent
1-2 days after the
initial follow-up.
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A sequence email should create
a sense of urgency and a
stronger call to action.
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Inform your shoppers
that carts may soon expire,
and that discounts or
availability won’t be
guaranteed at a later point.
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Check this example:
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The third email,
should be sent in
3-7 days since the
moment of cart
abandonment.
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Clearly state that is the last chance
to recover purchases.
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Incentivize your shopper!
Offer them
big time-limited discounts,
free shipping
and other benefits.
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This is a good example:
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And remember!
When it comes to
cart abandonment emails,
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the most crucial factors are: an email subject line,
the tone of your message.
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Check out
this blog post
to learn how to craft
a perfect remarketing
message.
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Lost sales recovery is a complex process.
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It consists of
• technical website
improvements;
• wise onsite marketing;
• remarketing
campaigns.
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And if you manage to organize
the process the right way,
you will get most of your
abandoned customers
back!
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You can find more info
on the topic here:
http://blog.mageworx.com/2014/04/lost-sales-recovery-part-1/
http://blog.mageworx.com/2014/04/cart-abandonment-email/
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